Franklin Mining, Inc. Finalizes Contract with Huiracocha International Service, Securing the Funding Required for the Mining of the Escala Property
LAS VEGAS, May 18, 2012 /PRNewswire/ -- FRANKLIN MINING, INC. (Pink Sheets: FMNJ.pk) – is pleased to announce that the Company has finalized the highly anticipated agreement with a local Bolivian Corporation, Huiracocha International Service SRL, which has provided Bolser Ltda. with the required funding to mobilize and launch production.
Bolser Ltda. is the Company's Lead Contractor in providing civil and mechanical work services; including construction and maintenance, mass earth movement, camp and plant construction and maintenance, and railroad construction for the Escala Mine. Production is expected to commence imminently, with documented revenues anticipated in the third quarter of this year.
Huiracocha International is a local Bolivian corporation recently established by its distinguished President, Tim Turner, the coinciding President of Mogul Energy International, Inc. of Houston, Texas. Mr. Tim Turner is highly recognized as an expert in his industry, bringing in the range of 3 decades of varied experience in the oil and gas industry to the table. He will be an instrumental key to the success of the mining projects by overseeing the operations, and providing the required funding to bring the projects to completion.
Under Mr. Turner's direction Mogul Energy International, Inc. (NASD OTCBB:MGUY), an oil and gas exploration company with offices in Houston, Texas and Toronto, Ontario, has developed a proven track record for success in the oil and gas industry. Mogul was established to build an oil and gas exploration and production company, with a focus on prospects in the United States and International opportunities as well.
Bolser Ltda., former Lead Contractor for the notable San Cristobal Mine, will be undertaking their tasks imminently at the Bolivian Mine. In 2009 Franklin Mining entered into a Strategic Alliance agreement with Bolser Ltda., during which period Bolser has become familiar with the anticipated goals and day to day operations of the Company. Franklin Mining's management has developed great confidence in the belief that Bolser's experience and track record in the territory will serve as a key benefit to the future success and implementation of an increasingly productive and streamlined operation.
"This is a major part of the turn of events that we believe will accelerate the tide of momentum, as we finalize the strategies and prepare to break ground on the most highly anticipated phase we have yet to encounter. We are very confident that this is going to be an exciting phase for our partners and investors." Stated Mustafa Dar, President, Franklin Mining, Inc.
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.
For more information visit our website at www.FranklinMining.com
or contact Investor Relations: 858-537-7439 or mailto:FMNJ@asaustinco.com
SOURCE Franklin Mining, Inc.
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