Escala Mine Initial Development Nearing Completion

Franklin Mining, Inc. continues to develop the Escala in a joint-venture with Corporación Minera de Bolivia (COMIBOL) and Cooperativa Minera INTI Ltda. Escala Mina I, located in the Sud Lipez Province, San Pablo Canton, Department of Potosi, Bolivia, was established during the Spanish colonial period.

Franklin anticipates having commercial operations underway at the end of March 2009. Bringing the Escala to this point has taken sixteen months and represents the mine’s first viable economic production in fifteen years.

Geology of the joint-venture’s 500 hectare concession consists of mineralization including silver, lead, zinc and some copper. Gold has been located in portions of the concession. Reconnaissance sampling of known veins conducted prior to the September 2007 joint-venture agreement returned the expected levels of lead and zinc along with high-to-extreme levels of silver. More recent samplings confirm previous indications of lead, zinc, and silver in very high levels and gold in greater than expected levels.

Reports prepared by Franklin’s mine engineer and staff geologist — with further confirmation by initial laboratory analysis — identified vein structures in a newly extended tunnel as holding an estimated 9 million tons in situ mineral reserve. Final laboratory analysis and an assessment by an independent consulting geologist is in preparation.