Franklin CEO Comments on Bolivias Mining Industryadmin
Franklin Mining, Inc. Chairman and CEO William Petty has reassured Franklin shareholders that the company’s Escala Mine continued operations during recent civil disturbances in Bolivia. In a statement scheduled to be posted at www.franklinmining.com later today, Mr. Petty discusses his personal commitment to the mining industry in Bolivia, to COMIBOL and to the Cooperativa INTI, Franklin’s joint-venture partners in the Escala Mine.
“Through September 2008, Franklin invested a little more than $300,000 in preparation for redevelopment of the Escala. Our September 2007 commitment to COMIBOL was a minimum $200,000 investment during Phase I of the project,” Mr. Petty continued. “Despite the difficulties of the last few weeks, Bolivia’s mining sector has continued moving forward and I look forward to strengthening Franklin’s relationship with COMIBOL and INTI. And I look forward to Franklin becoming a larger and more integral partner in Bolivia’s rich and historic mining industry.”
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 Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly owned subsidiaries. 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.