LAS VEGAS, May 18, 2012 /PRNewswire/ -- FRANKLIN
MINING, INC. (Pink Sheets: FMNJ.pk) – is pleased to announce that
the Company has finalized the highly anticipated agreement with a
local Bolivian Corporation, Huiracocha International Service SRL,
which has provided Bolser Ltda. with the required funding to
mobilize and launch production.
Bolser Ltda. is the Company's Lead Contractor 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.
Production is expected to commence imminently, with documented
revenues anticipated in the third quarter of this year.
Huiracocha International is a local Bolivian corporation
recently established by its distinguished President, Tim Turner, the coinciding President of Mogul
Energy International, Inc. of Houston, Texas. Mr. Tim Turner is highly recognized as an expert in
his industry, bringing in the range of 3 decades of varied
experience in the oil and gas industry to the table. He will be an
instrumental key to the success of the mining projects by
overseeing the operations, and providing the required funding to
bring the projects to completion.
Under Mr. Turner's direction Mogul Energy International, Inc.
(NASD OTCBB:MGUY), an oil and gas exploration company with offices
in Houston, Texas and Toronto, Ontario, has developed a proven track
record for success in the oil and gas industry. Mogul was
established to build an oil and gas exploration and production
company, with a focus on prospects in the
United States and International opportunities as well.
Bolser Ltda., former Lead Contractor for 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.
"This is a major part of the turn of events that we believe will
accelerate the tide of momentum, as we finalize the strategies and
prepare to break ground on the most highly anticipated phase we
have yet to encounter. We are very confident that this is going to
be an exciting phase for our partners and investors." 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: 858-537-7439 or
mailto:FMNJ@asaustinco.com
SOURCE Franklin Mining, Inc.
