Franklin, COMIBOL Executives Move Closer to Completing Joint Venture Agreement -- Four Silver Veins in Potosi's Cerro Rico Is Initial Commitment
Posted on: Monday, 3 April 2006, 12:00 CDT
Franklin Mining, Inc (OTC: FMNJ) and COMIBOL executives agreed on Friday, March 31, 2006 that their Joint Venture agreement will include a total of four silver veins in the Cerro Rico Mine, Potosi, Bolivia.
"We feel that our Friday meetings in La Paz were productive and that we are just a few steps away from finalizing our Joint Venture agreement," said Jaime Melgarejo, Franklin CEO. He went on to say that "COMIBOL executives are preparing their formal estimate of the probable silver content for each of the four veins identified in last week's meeting. For COMIBOL to have committed four veins at this stage of our agreement is very gratifying. I look forward to working with the miners' cooperatives as we introduce new methods and new technology in the Cerro Rico."
When finalized, Franklin Mining's negotiations with COMIBOL and a number of local mine workers' cooperatives will result in a Joint Venture dedicated to improving mine productivity in the Cerro Rico. Discovery of this legendary silver mine in 1544 led to the founding of Potosi, Bolivia and the building of what was to become the world's largest industry complex of the 1600s. In 1987, UNESCO recognized Potosi as a World Heritage Site in honor of its rich industrial history.
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.
Additional information on company operations is found at our website http://franklinmining.com.
Contact: Franklin Mining, Inc. Andrew Austin 832-248-6211 info@franklinmining.com
SOURCE: Franklin Mining, Inc
Source: MARKET WIRE
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