Franklin Mining (OTC: FMNJ)
LAS VEGAS, NV–(MARKET WIRE)–Sep 6, 2006 — Franklin Mining, Inc. (Other OTC:FMNJ.PK – News) is positioning for fourth quarter growth.
Franklin Mining has accomplished great strides in the preparation, ascertainment and completion of spearheading the mining industry in South America.
To date, Franklin Mining, Inc. has signed:
1) An agreement with the federation of national cooperatives on May 26, 2006. These are the North Potosi and South Potosi cooperative groups in Bolivia. The cooperative work force/labor unions consist of 960 representatives in Bolivia. This places nearly 100,000 workers in the working arsenal for Franklin Mining, Inc.
2) An agreement with COMIBOL on August 3, 2006 has been registered with the Bolivian courts and a Letter of Guarantee was issued by Bolivia’s Minister of Mines and Metallurgy, Walter Villarroel Morochi, for Franklin Mining, Inc. (FMNJ) operations. Franklin Mining, Inc. is the first foreign company to sign a working agreement with COMIBOL for projects in the Cerro Rico mine.
3) An agreement for the Pulacaya project. Roland Kemp, Vice President of B&B Bank and senior partner of Kemp & Associates, has entered into a mining tailings project agreement with Franklin Mining, Bolivia & COMIBOL. Franklin will retain 51% of project (tailings are produced when metallic ores are ground into fine powder to free the metal-bearing mineral).
4) In the last six months with COMIBOL: (a) A partnership in the Cerro Rico mines (July 10, 2006) (b) Franklin Mining finalizes agreements with COMIBOL (May 1, 2006) (c) Franklin Mining, COMIBOL and local cooperatives continue work on their joint venture agreement for attempting to increase Cerro Rico productivity (March 15, 2006) (d) Franklin Mining, Inc., COMIBOL nearing completion of contract negotiations (March 14, 2006), and (e) Franklin Mining, Inc. in final negotiations with COMIBOL (March 7, 2006)
5) On May 25, 2006 signed as Franklin Oil & Gas a Memorandum of Understanding (MOU) with YPFB to build a GTL (gas to liquid) plant. Presently, lawyers representing both parties are revising the contract.
6) An agreement as Franklin Oil & Gas, with the City of Ayo-Ayo, Bolivia to build a small GTL plant, scheduled to produce 500 barrels a day. Also, Ayo- Ayo has formed an additional partnership with Franklin Oil & Gas to develop and provide university housing and hospital supplies for the area. Ayo-Ayo has also been designated as a national landmark of Bolivia.
7) A MOU with the State of Tarija and its government to build a GTL plant on July 17, 2006, as Franklin Oil & Gas, that will produce 10,000 barrels a day. Tarija owns 11% of about 38 Trillion Cubic Feet of gas in southern Bolivia. They will contribute to the partnership (which is under the guidelines of the SAM agreement Bolivian Joint Venture 51/49, an associated partnership, which guarantees investment and gas per Bolivian law).
9) Franklin Oil & Gas and Franklin Mining have designed a program for funding for the GTL plants and the tailings projects.
10) FRANKLIN MINING RECEIVES INDEPENDENT AUDIT REPORT FOR 2004 AND 2005.
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:
Franklin Mining, Inc. Andrew Austin 702-386-5379 info@franklinmining.com
Source: Franklin Mining, Inc.
View the StockGuru Profile for Franklin Mining:
http://www.stockguru.com/profiles/fmnj/
We Invite you to Visit the All New StockGuru Blog!
Here you will find updates on all our covered companies, including Profiled Companies and StockGuru Picks.
Click HERE to visit the Blog, or go to:
http://stockguru.com/blog/
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 458-4258. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure: Pentony Enterprises LLC was compensated four million free trading shares from a non-controlling third party for profile coverage. Pentony Enterprises LLC is not a registered investment advisers or broker/dealers. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. It is the policy of Pentony Enterprises LLC to sell all shares of this and any company featured. Anyone considering any company we feature in consideration for free trading shares should consider this. We currently hold 265,000 shares of Franklin Mining.