Franklin Prepares Escala to Resume Operations -
Monday August 6, 8:40 am ET
LAS VEGAS, NV--(MARKET WIRE)--Aug 6, 2007 --
Franklin Mining, Inc. -
(Other OTC:FMNJ.PK - News), through their wholly owned -
subsidiary, Franklin Mining, Bolivia S.A. -
has begun preparing to resume mining operations -
at the Escala Mine.
Franklin was granted the Escala Mine contract -
by the National Mining Company of Bolivia (COMIBOL) -
for $200,000 (USD) plus a guaranteed minimum capital
investment of $200,000 (USD).
In addition, Franklin will initially employ -
a minimum 20 local miners.
Franklin Mining, Bolivia S.A. -
managers and engineers completed their inspection -
of all infrastructure, equipment and facilities at -
Escala Mine -
and determined that all can be brought to satisfactory -
operating condition on schedule and within -
the agreed budget.
Necessary replacements for existing equipment as well -
as all required parts and supplies have been located -
and are scheduled to be delivered when needed.
Cleaning and restoration of equipment and other
physical assets is scheduled to be fully underway
within ten days and require an estimated thirty days
for completion.
Hiring local miners will also begin within ten days.
Included in Escala's infrastructure are all necessary -
utilities, roadways, offices and shops.
Fourteen houses are available for use by managers -
miners and their families.
Escala, a 2,000-hectare compound -
located in the Sud Lipez Province -
of the Department of Potosi,
was established during the Spanish colonial period -
and has, intermittently, been mined for -
lead, zinc, gold and silver.
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
franklinmining.com.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act ----
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. Austin & Company,
1-702-386-5379.
Contact:
Investor Relations contact:
A. Austin & Company
1-702-386-5379
Source: Franklin Mining, Inc.
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