Franklin Confirms Favorable Production Results for Bolivia's La Joya Mine Joint-Venture
LAS VEGAS, Dec. 12, 2012 /PRNewswire/ -- FRANKLIN MINING, INC. (Pink Sheets: FMNJ.pk - News) – Chairman and CEO, William Petty has confirmed initial results of the company's La Joya joint-venture mining operation, and is pleased to announce that they have exceeded expectation. Franklin Mining and its Bolivian joint-venture partner, Huiracocha International Service, SRL, previously announced that the anticipated gold content from their La Joya operation would be in the range of 5.0 grams per ton. A gratifying Initial result achieved from the approximate 1,100 tons indicates gold will be averaging a robust 6.0 grams per ton, exceeding the initial anticipation by a substantial 20 percent.
In light of these results, Mr. Petty has stated, "I recently visited our La Joya joint venture and was very pleased to see the progress made these past two months. Almost all equipment is now on site and very little remains to be done in completing improvements and additions to the infrastructure. Our early production results are extremely encouraging and I look forward with great anticipation to the confirmation of resulting revenues and cash flow in 2013's first quarter financial reports."
In conclusion, Mr. Petty also confirmed that progress has been made at the company's Escala Mina I joint-venture with Huiracocha International Service, SRL. COMIBOL (Corporacion Minera de Bolivia) has confirmed their team will visit Escala on December 11 and 12 for inspection and approval of the housing and medical facilities recently completed. Production is expected to be underway at the Escala mine by late January, 2013.
About Franklin Mining, Inc. – Franklin Mining, Inc. is a publically traded international exploration and mining company, headquartered in Las Vegas, Nevada, with offices in Santa Cruz, Bolivia. The Company adheres to the highest standards of quality and efficiency by optimizing the Company's resources through a system which places the preservation of the environment among the Company's top objectives. Franklin Mining, Inc. endeavors to find value in fields in which the projects can be explored and exploited while contributing to the socio-economic and cultural development of its society. The Company has developed model mining operations through safe, cost effective and innovative technologies. Franklin Mining Inc.has purposed to uphold a great social commitment and respect for the environment while creating a robust value for its shareholders, employees, and the region within which it operates. Additional information can be found at the Company's corporate website: www.FranklinMining.com.
Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
SOURCE Franklin Mining, Inc.
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