Franklin Mining in Final Negotiations for Escala Mine's Capital Funds
January 08 2009 - 12:34PM
Marketwired
Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) announces
that its Board of Directors has accepted a preliminary proposal
from a Houston, TX-based capital finance company and authorized the
preparation of final documents in receipt of $1.2 million USD
capital. This funding will be used to further increase the Escala
Mine's processing capacity to an estimated 150 tons per hour.
About Franklin Mining, Inc.: Franklin Mining, Inc. has mining
and energy interests in the United States and Bolivia as well as
energy interests in Argentina. Franklin Mining, Bolivia is a wholly
owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both
Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas
International S.A. Additional information is available at
www.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.
For further information, please visit our website
(www.FranklinMining.com) or contact our Investor Relations firm, A.
S. Austin & Company, 702-386-5379.
Investor Relations: A. S. Austin & Company 702-386-5379
www.FranklinMining.com
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