FMNJ Franklin Mining Inc (PK)

Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman and CEO William Petty announces the sale of all energy assets to a newly formed oil and gas company that will keep the name Franklin Oil & Gas, Inc. In exchange for all Franklin Mining energy assets, the company will receive a minimum 20 million shares from the newly formed company's initial issue.

The newly formed Franklin Oil & Gas, Inc. will initially focus on development of the Texas oil properties while pursuing further negotiations on gas-to-liquid, oil and hydroelectric projects in South America. Oil properties presently owned or leased and a bio-energy technology division will also continue operations. Howard Dunn, P.E., will resign his position as Franklin Mining's Vice President of Operations for International Mining to become President, Franklin Oil & Gas, Inc. William Petty will serve as Chairman and CEO of the new company.

In announcing confirmation of today's actions, William Petty said, "In selling Franklin Mining's energy assets, the Board of Directors and I structured an environment that we believe will permit the US and South American projects pursued throughout 2007 and 2008 to continue their development. An equally important objective was to ensure the full and complete return of Franklin Mining's financial investment in the energy division. The value of our equity in the new company can be leveraged to fully capitalize and expand operations at our Escala Mine joint venture in Bolivia and provide additional capital investment at the San Antonio de Turiri."

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 Website: www.FranklinMining.com