LAS VEGAS, Jan. 17, 2012 /PRNewswire/-- FRANKLIN
MINING, INC. (Pink Sheets:FMNJ.pk - News) – is pleased to
announce that the Company has finalized the highly anticipated
agreement with Bolser Ltda. which will be instrumental in providing
civil and mechanical work services; including construction and
maintenance, mass earth movement, camp and plant construction and
maintenance, and railroad construction for the Escala Mine.
According to the terms of this 6 month agreement, Franklin
Mining will collaborate and provide all drawings and
specifications, and will provide in the range of $800,000 to perform the Escala Project objectives
to completion.
The Monthly Production is anticipated to be in the range of 3600
tons per month. The Company estimates the value of this project to
fall into the range of $1500 per
ton for 1 tunnel, based on the last 80 tons delivered and
reported to Comibol. This brings the estimated potential value into
the range of 5.4 Million Dollars per
month in revenue.
Bolser Ltda., former Lead Contractor of the notable San
Cristobal Mine, will be undertaking their tasks imminently at the
Bolivian Mine. In 2009 Franklin Mining entered into a Strategic
Alliance agreement with Bolser Ltda., during which period Bolser
has become familiar with the anticipated goals and day to day
operations of the Company. Franklin Mining's management has
developed great confidence in the belief that Bolser's experience
and track record in the territory will serve as a key benefit to
the future success and implementation of an increasingly productive
and streamlined operation.
A recent Certificate of Analysis, from a SGS Report (SGS
Research Limited of Lakeland, Ontario) wherein 34 samples were taken from
the Escala mine was analyzed for their content of Gold, Silver,
Zinc, Lead, Arsenic, Cadmium, Bismuth, and Copper. The results
revealed that the minerals at the mine continue to retain a highly
advantageous commercial value.
Gold content ranged from .02 g/t to .13 g/t and silver ranged
from 3.2 g/t to 253 g/t. The other mineral elements spanned over
various ranges and are not being factored as integral to our
commercialization plan at this time.
Franklin Mining has also recently completed their financials
which have been finalized and submitted to Pink Sheets. The status
is expected to reflect the update imminently.
"We are very excited to be standing on the threshold of
production on the Escala Mine. Bolser Ltda. is familiar with the
property, and we believe that this project is the launch of what we
anticipate will be a series of great successes. 2012 is expected to
be an extraordinary new year for the Company," stated Mustafa Dar, President, Franklin Mining, Inc.
About Franklin Mining, Inc. – Franklin Mining, Inc. is a
publically traded international exploration and mining company,
headquartered in Las Vegas,
Nevada, with offices in Santa
Cruz, Bolivia. The Company adheres to the highest standards
of quality and efficiency by optimizing the Company's resources
through a system which places the preservation of the environment
among the Company's top objectives. Franklin Mining, Inc.
endeavors to find value in fields in which the projects can be
explored and exploited while contributing to the socio-economic and
cultural development of its society. The Company has developed
model mining operations through safe, cost effective and innovative
technologies. Franklin Mining, Inc. has purposed to uphold a great
social commitment and respect for the environment while creating a
robust value for its shareholders, employees, and the region within
which it operates. Additional information can be found at the
Company's corporate website: www.FranklinMining.com.
Safe Harbor Act: This release may contain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company's annual report.
For more information visit our website at
www.FranklinMining.com or contact
Investor Relations: (818) 370-1426
SOURCE Franklin Mining, Inc.
