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Franklin Mining Announces That Mining Project Has Estimated Mineral Reserves of About 2.2 Billion Dollars

Posted on: Thursday, 19 October 2006, 09:00 CDT

Franklin Mining, Inc. (PINKSHEETS: FMNJ) announced today that estimated current market value of the 5 veins and branches are estimated at 2.2 Billion Dollars. According to a report provided to Franklin Mining, Inc. by COMIBOL, the five veins and branches of the project in the Cerro Rico Mine are projected to hold about 5 million metric tons of ore, with the combined estimated reserves said to contain about 1,028,645 kgs of silver, 265,933 tons of zinc and over 72,377 tons of tin, yielding approximately 36,274,137 ounces of silver, 586,117,434 lbs of zinc and 159,518,908 lbs of tin. The reserve value is based on current LME prices of Silver, Tin and Zinc.

The following was taken from a report provided to us by COMIBOL. The following are reported to be in the contract area.

 LEVEL    VEIN     LENGTH   HEIGHT    WIDTH    S.W. ------------------------------------------------- "0" P    A.B.      940      210      .70      3.1 "0" P    A.B.R    1000      300      .70      3.1 "0" P    Mesa     1600      300      .70      3.1 "0" P    S.M.     1600      300      .70      3.1 "0" P    S.M.R.    300      200      .70      3.1 "0" P    S.P.     1600      300      .70      3.1 "0" P    S.P.1    1000      300      .70      3.1 ------------------------------------------------- TOTAL             8040      273      .70      3.1 LEVEL    VEIN    MIN TONS   DM Ag    %Zn      KF Ag     F.TON Zn ---------------------------------------------------------------- "0" P    A.B.     428358     2.5       4    107089.5    17134.32 "0" P    A.B.R    651000       2       6      130200       39060 "0" P    Mesa    1041600       2       6      208320       62496 "0" P    S.M.    1041600    2.26    4.22    235401.6    43955.52 "0" P    S.M.R.   130200      .7    1.33        9114     1731.66 "0" P    S.P.    1041600       2       6      208320       62496 "0" P    S.P.1    651000       2       6      130200       39060 ---------------------------------------------------------------- TOTAL            4985358    1.92    4.79    1028645     265933.5 A.B.  : Alcko Barreno A.B.R.: Alcko Barreno branches (Branch: small outcrops that run         perpendicular to the main vein). Mesa  : Mesapata S.M.  : San Miguel S.M.B.: San Miguel Branches S.P.  : San Pedro S.P.1 : San Pedro one (this is another structure near to the other vein). 

Currently the Company is working on a development plan for the project in the Cerro Rico. Upon review and approval of the development plan by COMIBOL, Franklin Mining will move forward with the commencement of their production plan as it converts to an operation contract.

For more information about the Cerro Rico Project including the translated report that was provided to us by COMIBOL on the project in the Cerro Rico please visit our website www.franklinmining.com

About Franklin Mining, Inc:

Franklin Mining currently has interests in Bolivia and the United States and opened a wholly owned subsidiary Franklin Mining, Bolivia and majority ownership in 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 1500s 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.

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.

 Contact:  Franklin Mining, Inc. Andrew Austin 1-702-386-5379  

SOURCE: Franklin Mining, Inc.

Source: MARKET WIRE

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