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Franklin Mining, Inc. (FMNJ) (Frankfurt:FMJ.F) CEO William Petty recently announced the company has received funding necessary to resume operations at the Escala Mine effective May 1, 2009.
Phase I operations at Franklin's Escala Mine joint-venture are set to be underway at the end of this week including the delivery of stockpiled ore for processing at nearby plants. Revenues recorded in 2009's first quarter will be minimal; however, the processing of stockpiled material will result in revenue being recorded in 2009's second quarter.
Franklin's first three tonne shipment from the Turiri mine has been prepared and is awaiting shipment. "As I said before, the response to our Turiri announcement has been positive. We have received inquiries wanting to purchase antimony and are excited by this new opportunity," said Mr. Petty.
About Franklin Mining, Inc:
Franklin Mining, Inc. has mining interests in the United States and Bolivia. Additional information is available at www.FranklinMining.com.
About The Escala Mine:
A 2,000 hectare compound owned by COMIBOL, the Escala Mine is located in the Sud Lipez Province near Bolivia's border with Argentina. Escala was established during the Spanish colonial period and has, intermittently, been mined for lead, zinc, gold and silver. In September 2007, Franklin Mining, Bolivia was awarded an agreement with COMIBOL to resume mining operations.
Corporacion Minera de Bolivia, often known as COMIBOL, is the National Mining Company of Bolivia.
About The Turiri Antimony Mine:
Privately owned and continuously operated for almost five decades, the San Antonio de Turiri mine is part of Bolivia's primary antimony belt. In recent years, Bolivia has produced an estimated 3.5% of the world's annual antimony consumption.
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 Department, 210-525-1267.
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