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With current operations generating gross receipts of approximately $2,300 per ton, Franklin would benefit immediately by assuming management responsibilities. The combined assets of two operations would benefit Franklin. The opportunity to share capital assets together with Franklin's professional services and other equipment on an ongoing basis represents potential significant savings in operating budgets. And Franklin would benefit by immediate receipts from minerals processing and for its management services.
In discussing recent reports of Franklin having entered these negotiations, Mr. Petty said, "Not only is this an exciting business opportunity, it's an honor for Franklin to have been approached by another factor in Bolivia's growing mining industry. Our management team's work in redeveloping the Escala has not gone unnoticed by colleagues and competitors.
"The potential of a significantly expanded mining presence in the Potosi area is attractive for several reasons, primarily because it's an easy route to expanding our core business with very little investment. But it comes just as we are about to launch second-phase operations with our Escala joint-venture. We will announce a decision at the appropriate time."
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. 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.9s 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 us at 210-525-1267.
For further information contact: 210-525-1267 www.FranklinMining.com
SOURCE: Franklin Mining, Inc.
http://www.FranklinMining.com
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