Franklin CEO Issues Status Report on Mining and Energy Projects
February 23 2009 - 9:30AM
Marketwired
Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman
and CEO William Petty has released the first of two planned
Memorandum addressing issues raised in recent discussions with
shareholders.
"As we continue negotiating several GTL projects while preparing
the Escala Mine for return to full-scale production, Franklin is
facing the same difficulties as most other companies -- capital is
available, but expensive. And that's why we've had the recent
increases in common shares." Mr. Petty said as he discussed his
February 20, 2009 letter, "Despite challenges, we've continued the
GTL negotiations and we've shifted our thinking about processing at
the Escala."
Mr. Petty's February 20, 2009 letter is available at
www.FranklinMining.com. A second letter is scheduled to be released
February 27, 2009.
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. 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.
For further information, contact: Investor Relations A. S.
Austin & Company 702-386-5379
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