LAS VEGAS, July 10 /PRNewswire-FirstCall/ -- Franklin Mining, Inc.
(Pink Sheets: FMNJ; FWB: FMJ) Chairman and President, William A. Petty, is
pleased to announce that a letter of agreement has been signed with Synfuels
International, Inc, Dallas, TX. Mr. Petty and Mr. Ben R. Weber, Jr, CEO and
Chairman of Synfuels, yesterday reached an agreement addressing the
environment and steps to be taken prior to finalizing the design of a Phase I
gas-to-liquids plant to be constructed in the Province of Tierra del Fuego,
Argentina.
Mr. Petty will return to Argentina on July 14, 2008 in anticipation of
final negotiations for 1.5 million cubic meters of gas per day over the next
35 years. Franklin Mining, Inc. and Franklin Oil & Gas International SA signed
a Letter of Intent on May 29, 2008, with Maria Fabiana Rios, Governadora,
Provincia de Tierra del Fuego, to construct a GTL plant with an initial
minimal daily production of 5,000 barrels per day. Mr. Petty and Franklin Oil
& Gas International SA will host a tour of the proposed construction site by
Synfuels International, Inc. officers and directors.
Synfuels International, Inc. (http://www.synfuels.com) holds exclusive
licensing rights for a Texas A&M University developed GTL technology and has
constructed a demonstration plant for the production of gasoline from natural
gas using this revolutionary intellectual property. Located in Robertson
County near Texas A&M University, the Synfuels demonstration plant has proven
to operate efficiently and economically in the production of 95-octane fuel.
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy
interests in the United States and Bolivia as well as energy interests in
Argentina. Franklin Mining, Bolivia is a wholly owned subsidiary. Franklin
Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and
Franklin Oil & Gas International S.A. Additional information is available at
http://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
(http://www.FranklinMining.com) or contact our Investor Relations firm, A. S.
Austin & Company, 702-386-5379.
SOURCE Franklin Mining, Inc.