Franklin Mining Announces Program to Fund Tailings Program and Establish Ten Plants
Posted on: Thursday, 7 September 2006, 15:00 CDT
Franklin Mining, Inc. (PINKSHEETS: FMNJ) announces a program for funding their mining operations. Pulatija operation is purely tailings (Tailings are produced when metallic ores are ground into fine powder to free the metal-bearing mineral). The investment for Pulatija tailings is $1.5 million. Franklin will begin with one 400 ton per day plant at the cost of $150,000. We will increase to ten plants of 4,000 tons per day. This is a total investment of $1.5 million. With this revenue stream from the tailings, Franklin Mining will then reinvest its profits to develop the Cerro Rico, which has five veins. The Cerro Rico investment will be up to a $6 million investment. With this, Franklin Mining has developed its mining interest with minimum cost and high return into the revenue stream.
DISCLOSURES:
About Franklin Mining, Inc:
Franklin Mining currently has interests in Bolivia and the United States and opened a wholly owned subsidiary in Bolivia. Franklin Mining, Inc Bolivian subsidiaries include Franklin Mining, Bolivia and Franklin Oil & Gas, Bolivia. For information about Franklin Mining, Inc. visit our website: http://www.franklinmining.com.
About Cerro Rico Mine:
The Cerro Rico Mine is considered by many to be the richest silver mine in the world. Rich in zinc and silver, it has been actively mined since the 1500's and is in operation today. Cerro Rico is owned by Bolivia's national mining company, COMIBOL.
About COMIBOL:
COMIBOL is the government owned mining company in Bolivia. COMIBOL owns the CERRO RICO mines as well as many other properties and mineral rights in Bolivia.
"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.
Contact: Franklin Mining, Inc. Andrew Austin 1-702-386-5379
SOURCE: Franklin Mining, Inc.
Source: MARKET WIRE
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