Franklin Prepares to Expand Scope of Escala Mine, Mining Operations to Include Copper - Tuesday February 12, 8:30 am ET LAS VEGAS, NV--(MARKET WIRE)--Feb 12, 2008 --
Franklin Mining, Inc. - (Other OTC:FMNJ.PK - News) (Frankfurt:FMJ.F - News)
CEO, William Petty, confirms he has authorized an immediate expansion of mining operations at the Escala Mine to include the extraction and recovery of copper.
"One of the more exciting portions of Dr, Arancibia's report following his January trip to the Escala was that as he, several of our managers and our engineer explored each of the mine shafts, they agreed there are economically viable quantities of copper that can be extracted along with our focus on silver." Mr. Petty continued, "Historically, the Escala has not been known as a source of copper. The copper is there, just never before has it been taken in serious quantities; however, in today's market, it appears we've discovered an economic opportunity that cannot overlooked and I have asked Dr. Arancibia to reallocate every possible resource to include copper in our extraction and recovery operations as soon as possible."
Additional information on the quantities and values of minerals available to be taken from the Escala is found in Mr. Petty's Letter to Shareholders dated February 8, 2008; the letter is available at http://www.FranklinMining.com
Two other Letters from the President are planned this month, the first of which could be released as early as Wednesday, February 13.
About The Escala Mine: Comprising three separate mining applications, COMIBOL's Escala Mine concession totals 2,000 hectares located in the Sud Lipez Province, near Bolivia's border with Argentina. Franklin Mining, Bolivia has been awarded a contract to mine 500 hectares within the original concession. Escala II and Escala III mining applications are currently assigned to another company.
The original Escala Mine - was established during the Spanish colonial period and has been mined for lead, zinc, gold and silver. In 2007, Franklin Mining, Bolivia negotiated an agreement with COMIBOL, National Mining Company of Bolivia, to resume mining operations within the area of the original concession.
About Franklin Mining, Inc: Franklin Mining, Inc. holds mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia 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.
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 http://www.FranklinMining.com or contact our Investor Relations firm, A. S. Austin & Company, 1-702-386-5379.
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