Franklin Mining, Inc. (FMNJ)

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Press Release


http://franklinmining.com/pressreleases.html



Franklin Endorses Letter of Intent to Construct
20,000 Barrel per Day GTL Plant in
Tierra del Fuego, Argentina
Tuesday, August 5, 2008 ~ for immediate release

LAS VEGAS, NV – (Market Wire) – Franklin Mining, Inc. (Pink Sheets: FMNJ – News; FWB: FMJ) Chairman and President William A. Petty is pleased to announce the signing of a Letter of Intent to construct a gas to liquid processing plant capable of producing 20,000 barrels per day of diesel fuel, kerosene and other petroleum products.

Miguel Angel Ferro, President and Director of FOMICRUZ, SE and Daniel Roman Banks, representing the Province of Tierra del Fuego, met in Rio Gallagos, Santa Cruz, Argentina on Friday, August 1, 2008, for the acceptance and signature of the Letter of Intent with Mr. William A. Petty on behalf of Franklin Oil and Gas, Argentina, SA.

Under terms of their letter, the Provincial government will provide a daily allotment of six million cubic meters of natural gas per day for the duration of the agreement. Franklin anticipates releasing full details of the agreement within ninety days.

About FOMICRUZ, S.E: Additional information is available at www.FOMICRUZ.com

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 is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional 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, 702-386-5379.