LAS VEGAS, NV--(MARKET WIRE)--Oct 7, 2008 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News) (Frankfurt:FMJ.F - News) Chairman and CEO William Petty has returned from an extended trip to South America to complete the negotiations of a $1.6 million (USD) capital investment at the company's joint-venture Escala Mine operation in Southern Bolivia. Speaking by telephone from his San Antonio, Texas headquarters, Mr. Petty has explained to potential creditors, "The single greatest thing we've learned during our first year of operations at the Escala is that Franklin's 500 hectare consignment holds what may be a greater value than originally envisioned. Reports furnished to Franklin by COMIBOL during our summer 2007 negotiations indicated multiple silver-zinc veins in various locations within the area. Gold is known to exist at both Cerro Blanco and Cerro Galapago and was previously estimated at 20,000 to 30,000 ounces. With the combination of current exploitation technologies and the increasing demand for gold, silver and zinc, our total recoverable value is potentially greater than first projected."

The Escala is a COMIBOL tenement centered over the Mina Escala and other lead-zinc and silver vein systems. Some confusion exists over the naming of the various workings; however, all are geologically similar to the main area of workings located 400 to 500 meters northwest of the camp, also known as Mina Escala. Sphalerite and galena rich sulphide veins trend west-northwest within a well developed halo of clay-pyrite alterations; within the mine area, a number of parallel veins creates a continuous alteration zone more than 250 meters wide. Individual veins have not been mapped in detail but can occur up to 0.5 meters in width. Initial sampling of the veins returned the expected grades of zinc (to 10%) and lead (to 5.8%) with high and sometimes extreme silver (to +/- 1,000 grams per ton) and gold content ranging from 0.25 to 2.0 grams per ton in some veins.

It is believed that the gold at Cerro Blanco was transported and deposited in cool ground waters as part of weather events that occurred following a period of volcanic and hydrothermal activity. Broad intercepts of this same grade are also found at Galapago and it is within this greater Cerro Blanco/Galapago deposit area that an estimated 20,000 to 30,000 ounces of gold may be found.

Paul Baker, Franklin's Mine Consultant, has returned to the Escala to make a site review for a processing plant placement and will prepare his equipment recommendations and budget for an expanded recovery operation.

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 Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly owned subsidiaries. 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 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.

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