FMNJ Franklin Mining Inc (PK)

Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman, CEO and President William Petty is pleased to confirm that Franklin Mining has completed a Memorandum of Understanding with the Bolivian Oil Services Company, BOLSER Ltda, for their joint development of mine construction at Franklin's joint-venture, Escala Mina I.

Effective immediately, today's announcement forms the basis of a service contract between Franklin and BOLSER designed to include specific exploratory and development stages including: benching (earth moving to a depth of one meter necessary for subsequent mapping and sampling); trenching (to a four meter depth, ten kilometer length); providing water needed for diamond drilling; rail and roadway construction; and, excavation and foundation work required for mine site, camps, the mineral processing plant and other mechanical and civil works.

The Escala Mina I development activity will be coordinated by a Management Committee with William Petty representing Franklin and Executive Vice-President Pedro Pablo Hinojosa representing BOLSER.

Mr. Hinojosa participated in BOLSER's mine development at Newmont Mining's Khorichaca Mine, Apex Silver and Sumitomo Corporation's Minera San Cristóbal S.A. and Coeur d'Alene's San Bartolomé silver mine. Prior to returning to his native Bolivia to begin his career in mining, Mr. Hinojosa attended Hargrave Military Academy (Chatham, VA) and Yale University before earning a BBA (Business Economics) at Emory University.

A 2,000 hectare compound owned by COMIBOL, Escala Mina I 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. Franklin Mining, Bolivia has been awarded a joint-venture agreement to resume mining operations.

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 BOLSER, Ltda: With more than 30 years experience, BOLSER Ltda. is a leader in the construction and maintenance of civil and mechanical facilities in Bolivia's mining, oil and gas industries; additional information is available at www.bolserltd.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 additional information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A S Austin Company, 210-204-5068 or FMNJ@asaustinco.com.

Contact Investor Relations firm A S Austin Company 210-204-5068 FMNJ@asaustinco.com