LAS VEGAS, Jan. 29, 2009 (GLOBE NEWSWIRE) -- Franklin Mining, Inc. (Pink Sheets:FMNJ) (Frankfurt:FMJ) Chairman and CEO William Petty has authorized the Escala Mine to accelerate plans for initiating a gold recovery operation.
In releasing today's announcement, Mr. Petty said, "Reports made available to Franklin Mining's engineers and geologist by our COMIBOL partners indicate that the area of our Escala Mine concession known as the Cerro Blanco Dome is thought to contain an estimated 20 to 30 thousand ounces of gold. These reports were prepared in the early '90s by COMIBOL's previous joint-venture partners following extensive exploration, sampling and laboratory analysis. Franklin's mid-2007 surface exploration of this same area revealed no reason to doubt the accuracy of the earlier reports.
"With the Escala's silver recovery underway and a solid plan in place for further development of that operation, I have instructed General Manager Jaime Arancibia to direct his professional staff to finalize and present their plan for gold recovery in the area known as the Cerro Blanco Dome."
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.