Franklin's Escala Mine Project Will Immediately Benefit -
From Previous Capital Development
Wednesday November 14, 9:51 am ET
LAS VEGAS, NV--(MARKET WIRE)--Nov 14, 2007 --
Franklin Mining, Inc. -
(Other OTC:FMNJ.PK - News) managers are reporting
they expect to immediately benefit from the two main
shafts at the Escala Mine.
The Escala's principal gallery, or mine shaft,
dates back to the Colonial period.
The other shaft is smaller, about 25 meters deep.
In addition, two other mine sites,
each about 50 meters deep, are not yet fully explored
but will be worked beginning in about a month.
Having access to two mine shafts, together with
two other previously worked sites, is of significant
benefit to the Escala Mine project.
These previously developed work sites represent a
tremendous savings in what would have otherwise
required a sizeable capital investment and
a lengthy period of time before reaching
full productivity.
CEO William Petty confirmed today's report and added,
"The opportunity to almost immediately bring the Escala
project into production is what made it so attractive
when we first learned of it.
Being able to benefit from the capital investment of
previous operations has significantly reduced
start-up costs and definitely shortens the lead time
between 'the first day of production' and
'taking product' to market."
About the Escala Project:
Comprising three separate mining applications,
COMIBOL's Escala Mine concession totals 2,000 hectares
located in the Sud Lipez Province, which is near
Bolivia's border with Argentina.
Franklin Mining, Bolivia S.A. has been awarded a contract
to mine 500 hectares within the original Escala concession.
Escala II and Escala III are the other two mining
applications currently assigned to another mining company.
The original Escala Mine
was established during the Spanish colonial period
and has, intermittently, been mined for lead, zinc,
gold and silver.
In 2007, Franklin Mining, Bolivia S.A.
negotiated an agreement with COMIBOL to resume mining
operations within the area of the original concession.
It is this original concession which contains all
utilities, offices, shops and housing.
Corporacion Minera de Bolivia, often known as COMIBOL,
is the National Mining Company of Bolivia.
About Franklin Mining, Inc.:
Franklin Mining, Inc. has mining and energy interests
in the United States and Bolivia as well as energy
interests in Argentina.
Franklin Mining, Bolivia S.A. is a wholly owned subsidiary.
Franklin Mining, Inc. holds 51% ownership in both
Franklin Oil & Gas, Bolivia S.A.
and Franklin Oil & Gas, Argentina S.A.
Additional company information is available at
www.franklinmining.com.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
For further information,
please visit our website
(www.franklinmining.com) or
contact our Investor Relations firm,
A. S. Austin & Company,
1-702-386-5379.
Contact:
Contact:
Investor Relations
A. S. Austin & Company
1-702-386-5379
Source: Franklin Mining, Inc.
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