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Franklin Mining, Inc. Forms Franklin Oil & Gas, Bolivia

Posted on: Tuesday, 25 April 2006, 15:00 CDT

Franklin Mining, Inc. (OTC Pink Sheets:FMNJ) is forming Franklin Oil & Gas, Bolivia as a subsidiary. Franklin CEO Jaime Melgarejo and executives of Bolivia's Yacimientos Petroliferos Fiscales Bolivianos (YPFB) have been discussing a joint relationship to assist with natural gas industrialization and help eliminate the need for imported diesel fuel. They expect to name their first project within a week.

YPFB, a state-owned company, is charged with overseeing the exploration, drilling, production, refining, transportation and distribution of both crude oil and natural gas in Bolivia.

Among all South American countries, Bolivia's proven natural gas reserves are second only to Venezuela and significantly greater than Argentina. A US Department of Energy report published in October 2005 confirms there have been several important discoveries in recent years adding another 48.0 Trillion Cubic Feet of proven, probable and possible natural gas reserves to Bolivia's previously proven reserves of 26.7 Tcf.

Oil reserves are currently reported to be 441 million barrels, and Bolivia's two refineries have a combined average daily refining capacity of 47,250 barrels per day of crude oil. These refineries meet the country's demand for gasoline and jet fuel; however, some petroleum products, especially diesel, must be imported.

President Evo Morales and Hydrocarbons Minister Andres Soliz have indicated that they are planning to use these significant natural resources to stimulate Bolivia's economy which could result in increased prosperity.

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. To receive future company announcements by e-mail, please send your contact information to info@franklinmining.com.

Source: Business Wire

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