LAS VEGAS, Oct. 11, 2012 /PRNewswire/ -- FRANKLIN
MINING, INC. (Pink Sheets: FMNJ) –announced today that the
Company's CEO and Chairman William
Petty has returned to Bolivia and is pleased to disclose that an
evaluation on its Escala mine has been concluded, and the report
indicates that activity on the mine has been mobilized.
The mine has been set up for the occupancy of in the range of 60
people. The portable camps are equipped with sleeping
accommodations, kitchens, and the necessary facilities to make its
excavation team comfortable. Currently the existing camp is housing
15 workers, and provision has been made for another 45 workers to
be added to the mine's crew.
The Company reports that there are now 2 tunnels which have been
cleared out and ready for continued production. William Petty, CEO and Chairman stated: "We are
very pleased that our initial production has been launched on the
Escala mine. I have met up and collaborated with the President of
Bolser Ltda. and anticipate that with full scale production being
in the Mine's eminent future, that we will have positive reports
coming soon."
Franklin Mining recently announced 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. 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.
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
small sales anticipated in the third quarter of this year.
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.
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 FMNJ@asaustinco.com
SOURCE Franklin Mining, Inc.
