Franklin Mining, Inc. (FMNJ)

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GREAT NEWS!!!
(Market Wire) Franklin Awarded Third COMIBOL Contract


LAS VEGAS, NV -- (MARKET WIRE) -- 08/02/07 -- Franklin Mining, Inc. (PINKSHEETS
FMNJ) and
COMIBOL (the National Mining Company of Bolivia) have signed an agreement
for Franklin Mining, Bolivia S.A. to assume operational responsibility of
the Escala Mine. Under terms of this agreement, COMIBOL will receive 30% of
the profits, with 20% to local miners' cooperatives and 50% to Franklin
Mining, Bolivia S.A.





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.
Tailings from earlier operations are included in this new agreement; a
single recent sampling from one tailings dome revealed the presence of gold
of an economically recoverable quantity.



Franklin Mining, Inc. and Franklin Mining, Bolivia, S.A. anticipate the
receipts of Escala generated cash flow within 60 days following preparation
of the work-site.



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. Austin & Company,
1-702-386-5379.



Contact:
A. Austin & Company
1-702-386-5379




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