Franklin Mining (OTC: FMNJ)
LAS VEGAS, NV–(MARKET WIRE)–Jul 27, 2006 — Franklin Mining, Inc. (Other OTC:FMNJ.PK – News) CEO Jaime Melgarejo announced today that Bolivia’s Minister of Mines and Metallurgy, Walter Villarroel Morochi, released a written statement of support and commitment to organize and “guarantee a normal functioning mining operation” for COMIBOL and FMNJ. Bolivia’s Minister was also quoted from a press conference, promoting mining development with the assurance that “Bolivia remains competitive on an international level.”
In addition to the letter of commitment addressed to Franklin Mining, the press conference was held on May 3, 2006, with the Prospectors and Developers Association of Canada Convention in Toronto. Bolivian Minister of Mines and Metallurgy, Mr. Walter Villarroel Morochi, addressed the need to “create a competitive and secure environment for mining investment that will foster job creation, infrastructure modernization and industry partnership.”
Morochi was quoted as saying, “We believe that many of these existing mining areas and areas with new potential, when properly evaluated with modern exploration technology and mining techniques, will highlight the potential for the discovery of important mineral deposits — deposits which can surely have the opportunity to be transformed into business enterprises of world-wide importance.”
“One of the key objectives of my office is to send a positive message to participants at the annual convention of the PDAC, to attract investor interest in developing and expanding the small existing mining operations, as we are confident that there are very high probabilities of finding many more important mineral deposits. Currently, we have an extensive list of investment requests from mining cooperatives and active mining companies that range from one-half million dollars to 2 million dollars. These are important opportunities that are available to be taken advantage of.”
“Furthermore, we will take measures that will encourage investment in ventures both large and small. One example of this will be the declaration of ‘integrated mining areas’ that will respect pre-existing mineral rights in areas where many small mining concessions exist by unifying development efforts. This will allow the Bolivian state to promote the search of strategic partners for the development of these areas. ”
“This is just one example of several measures that will be taken to promote mining development and ensure Bolivia remains competitive on an international level. We are pleased and very willing to provide any information that the investors interested in our country will require. ”
“I am pleased to have this opportunity to send the message from the President, that we are working hard to establish the legal security that investment in the mining industry requires on a long term basis.”
To read more details on the support of the Bolivian government and the Minister of Mines and Metallurgy, please visit http://www.mineria.gov.bo/.
Franklin Mining, Bolivia S.A. (a Bolivian corporation) is a subsidiary company of Franklin Mining, Inc. COMIBOL is Bolivia’s state-owned mining company.
For additional information on Franklin Mining, Inc, please visit our web-site, www.franklinmining.com. To receive Franklin Mining news by e-mail, please send contact information to info@franklinmining.com.
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://www.franklinmining.com/.
Contact:
Contact:
Franklin Mining, Inc.
Andrew Austin
702-386-5379
info@franklinmining.com
Source: Franklin Mining, Inc.
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