Franklin Expands Joint-Venture With Raptor Ventures, LLC in Bolivia
27 Mayo 2010 - 6:30AM
Marketwired
Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman,
CEO and President William Petty is pleased to announce that
joint-venture agreements have been signed expanding the scope of
Raptor Ventures, LLC in Bolivia's primary antimony belt.
Raptor Ventures, LLC, formed in February 2010 and held equally
by Franklin Mining, Inc. and Planet Resource Recovery, Inc., will
begin operating the San Antonio de Turiri antimony mine the week of
May 31, 2010 with the arrival of Bert Davi, Director of Operations
for both Planet and MidWest General of Arizona, LLC. Mr. Julian
Rodriguez, Raptor's Civil Engineer, will join Mr. Davi at the
Turiri and remain on-site to oversee mining operations. MidWest
General's participation in Raptor Ventures, LLC to assist in
providing funding and operational expertise was announced in April
2010.
Franklin's operating agreements for Bolivia's Sorpresa (April
22, 2010) and Concordia (April 28, 2010) antimony mines resulted in
formation of today's joint-ventures in which Franklin holds a 34.0%
position with the remainder being shared by Raptor and MidWest.
All three mines under a Franklin operating agreement have recent
antimony production ranges of 58% to 68% purity.
Franklin's contribution to the Raptor joint-venture and today's
two new joint-ventures consists of operating agreements. Raptor and
MidWest are providing technology, equipment, funding and operating
expertise.
Operating agreements held by Franklin permit the full and
exclusive prospecting, exploration, exploitation, refining and
marketing rights for all minerals and metals. Water and surface
rights customary to mining, without limitation or restriction, are
included in each agreement as is access to existing camps, other
structures, facilities and all equipment. Past and current
technical documentation, including maps and drawings and
geological, metallurgical and environmental studies, reports and
laboratory analysis is also included in each operating agreement
and is available to Raptor.
Bolivia's 2009 antimony production is recognized in U.S.
Geological Survey reports as second only to China. At 310 thousand
metric tons, Bolivia's antimony reserves are ranked fourth in the
world.
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 additional information, please visit our website
(www.FranklinMining.com) or contact our Investor Relations firm, A
S Austin Company, 210-204-5068 or FMNJ@asaustinco.com.
A S Austin Company 210-204-5068 FMNJ@asaustinco.com
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