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Franklin Mining, Inc.FMNJ), through a
new subsidiary, Franklin Oil & Gas, Bolivia, has signed a Memorandum
of Understanding with Yacimientos Petroliferos Fiscales Bolivianos
(YPFB) for the construction and operation of a gas-to-liquid diesel
fuels refinery.
The plant, to be located in Bolivia's Santa Cruz department, will
be designed for a 10,000 barrel per day capacity. Of the total daily
production, 5,000 barrels are to be distributed in-country which will
significantly reduce, and may eventually eliminate, the present need
for imported diesel fuel. The balance of the plant's capacity will be
exported with sales to be managed by Franklin Oil & Gas, Bolivia.
In making today's announcement, Franklin CEO Jaime Melgarejo said,
"Diesel is the only fuel Bolivia must import. When the Franklin Oil &
Gas, Bolivia and YPFB partnership's plant comes on line, it will have
enriched the local economy with its construction and will continue
enriching the local economy with its operations and distribution
facilities. Because diesel is the only fuel Bolivia must import, the
Franklin and YPFB partnership plant is potentially a significant
influence in the national economy. Not only are there jobs that will
be created, the need to import diesel fuel will decrease and fuel
available for export will be approximately 5,000 barrels per day."
With world-wide demand for diesel having increased at about
3-percent per year for the past decade and Bolivia's natural gas
reserves (proven, probable and possible) larger than any of its
neighbors, additional gas-to-liquid diesel refineries built and
operated by the Franklin, YPFB partnership should generate significant
future national exports and could produce significant cash flow for
both YPFB and FMNJ.

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.
Additional information on company operations is found at our
website http://franklinmining.com. To receive future company
announcements by e-mail, please send your contact information to
[e-mail].



KEYWORD: NORTH AMERICA SOUTH AMERICA NEVADA TEXAS UNITED STATES BOLIVIA
INDUSTRY KEYWORD: ENERGY OIL/GAS NATURAL RESOURCES MINING/MINERALS
SOURCE: Franklin Mining, Inc.


CONTACT INFORMATION:
Franklin Mining, Inc.
Andrew Austin, 832-248-6211
[e-mail]