LAS VEGAS, April 28, 2011 /PRNewswire/ -- Franklin Mining, Inc. (Pink Sheets: FMNJ; FWB: FMJ) Chairman & CEO William Petty is pleased to announce that Franklin Mining Bolivia and Cooperativa Minera Aurifera Nueva "La Joya, Ltda" have concluded negotiations and signed a joint-venture agreement to construct and operate a processing plant at Minera Aurifera Nueva "La Joya, Ltda." The joint-venture agreement grants exclusive mining rights for gold and other precious metals and minerals.
The public signing of the La Joya – Franklin Mining Bolivia Agreement took place yesterday in the Palace of the Governor, Department of Oruro, La Joya, Bolivia. Adrian Cotasaenz, President, Franklin Mining, Inc. attended the signing by Cooperative President, Sergio Vacarreza, along with many local government officials and leaders and miners representing the 140 active members of Cooperativa Minera Aurifera Nueva "La Joya, Ltda." The signing was reported by members of Bolivia's local and national press.
Following the signing, Mr. Petty said, "Franklin Mining is honored to have been selected to participate in this joint venture, to be a member of the team that is guiding expansion and development of the La Joya, the second largest minera in the Republic of Bolivia."
Mr. Cotasaenz concluded, "I have read that the La Joya was previously a fifteen year supplier of 8,000 tons per month of product to Empresa Minera Inti Raymi SA as well as a supplier of product to Battle Mountain Gold when they were operational. And I am proud to join with Mr. Petty and President Sergio Vacarreza as, together, we will work to provide the largest daily capacity by a single Cooperativa."
As recent reports from UBS and others are forecasting a continued strong demand for gold and with gold prices moving higher, the Franklin-La Joya joint venture will be operational just as world-wide demand indicates a growing under-supplied market.
About Franklin Mining, Inc: Franklin Mining, Inc. has mining interests in the United States and Bolivia. Additional information is available at www.FranklinMining.com.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
For further information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A S Austin Company, 210-204-5068.
SOURCE Franklin Mining, Inc.