LAS VEGAS, Nov. 1, 2011 /PRNewswire/ -- FRANKLIN MINING, INC. (Pink Sheets: FMNJ) is pleased to announce that the Company recently signed a Letter of Intent with Coastal Point Energy LLC, a renewable energy company founded to design, construct, and operate wind farms that produce electrical power for the Gulf Coast of the United States. The agreement encompasses the details involved with the integration of its cutting edge wind power units at its Escala Mining location.
Franklin Mining's Escala property is slated to be the first mining Company in South America to incorporate revolutionary wind generated power to provide the required energy to run a mining operation. This shift to utilize alternative energy resources at the Escala mine is anticipated to give the Company a distinct advantage by way of ultimately improving the budgetary margins to reflect a lowered operating cost. Moreover, it will enable the Company to penetrate a niche sector, opening doors to potential partners and clients who are particularly interested in conducting business with others who operate with consideration to their environmental footprint.
Coastal Point Energy LLC facilitates Turn Key Fabrication, Construction & Installation Services to Owners and Developers of onshore and offshore Wind Farms in U.S., Canada, & Latin America. The Company designs and engineers wind energy generating platforms and towers suitable for any location in North America, Latin America, and Caribbean Region. The Letter of intent to install the wind power generators was recently signed, and further details regarding the agreement will be forthcoming.
Recently the Company announced that due to an ongoing successful Joint Venture Alliance, the Company has elected to appoint Bolser Ltda. Bolivia to oversee the operations at the mining properties being conducted within the Bolivian territory.
"This agreement represents an excellent opportunity for the Company to begin to operate on a higher level toward profitability. Not only are we passionate about being as environmentally responsible in our operations as we possibly can, but we highly anticipate what this is going to mean for the reduction in operating expenses, thus yielding a higher profit margin. We expect the savings to be notable," stated Mr. William Petty, CEO and President of 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.
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For more information visit our website at www.FranklinMining.com or contact Investor Relations: Gibraltan Financial (407)830-9777
SOURCE Franklin Mining, Inc.