Franklin Mining, Huiracocha International Proceed on Joint Venture for Development of Escala Mining Property
LAS VEGAS, Aug. 23, 2012 /PRNewswire/ -- FRANKLIN MINING, INC. (Pink Sheets: FMNJD) – Chairman and CEO, William Petty has today confirmed that Franklin Mining, Inc. advances in joint-venture with Bolivia's Huiracocha International Services, SRL for the development of mining operations at the Escala Mining Property. Franklin and Huiracocha have cooperatively embarked on the joint operation of both companies which together are providing a spectrum of services.
Franklin holds a mining concession in the Potosi Department of the Republic of Bolivia known as Escala Mina I, where production preparation is nearly complete at the Escala mining camp.
Franklin-La Joya SRL is now in partnership with the La Joya Cooperativa, located in the Oruro Department of the Republic of Bolivia.
Huiracocha International Services SRL, an experienced mining development and operating services company provided equipment, machinery, labor and operating expenses with an approximate value of $1,028,000 USD for the Development of Escala Mina I. Franklin-La Joya SRL is in production.
In making today's announcement, Mr. Petty stated, "Frequent product deliveries from the Franklin-La Joya SRL are expected begin in coming weeks. We are very pleased to have achieved this milestone and look forward to being able to report consistent revenues for the Company as we move forward."
About Franklin Mining, Inc. – Franklin Mining, Inc. is a publicly 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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