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Mr. William Petty, Chairman and CEO, confirmed today's announcement, saying, "Many details still need to be worked out and there may not be a final announcement for several weeks, but the Franklin Mining Board of Directors has approved a recommendation that the company sell its energy projects. A public company made an offer which the Board tentatively accepted and requested a final proposal be presented for their review within four weeks.
"I want our shareholders to know that if this particular recommendation is eventually approved, our current energy projects will be exchanged for common stock in the acquiring company and those shares will be distributed proportionately among Franklin Mining shareholders.
"I also want to assure shareholders that this or any similar offer will be accepted only if it can be shown that divesting ourselves of our energy projects helps Franklin Mining, Inc. achieve its true value."
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. 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.
Contact: A. S. Austin & Company Investor Relations 702-386-5379 www.FranklinMining.com
SOURCE: Franklin Mining, Inc.
http://www.FranklinMining.com
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