June 24, 2008
Franklin Joint-Venture to Provide Oil Rigs
Franklin Mining, Inc. (PINKSHEETS: FMNJ) Chairman and President, William A. Petty, is pleased to announce that Franklin has entered into a joint-venture agreement with Cherokee Oil & Gas, Inc., Tulsa, OK and General Turbine Systems, Inc., Houston, TX to provide oil rigs in Bolivia, Colombia and Brazil.
Franklin Oil & Gas, Bolivia S.A. has offered four rigs to YPFB (Yacimientos Petroliferos Fiscales Bolivianos), Bolivia's national petroleum company. Another three rigs have been offered in Colombia and two in Brazil.In addition to providing rigs, Franklin Oil & Gas, Bolivia has submitted an application to YPFB for exploration and workover permits in four Bolivian oil fields.
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. Franklin Mining, Bolivia is a wholly owned subsidiary.
Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A.
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: Investor Relations firm A. S. Austin & Company 702-386-5379
SOURCE: Franklin Mining, Inc.