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News also: Silver Hits 22-Year High -- Franklin Mining Poised to Benefit Thursday March 23, 12:47 pm ET
LAS VEGAS, NV--(MARKET WIRE)--Mar 23, 2006 -- Franklin Mining, Inc (Other OTC:FMNJ.PK - News). Already flirting with highs not seen since the 80s, U.S. benchmark silver futures surged past a 22-year high following Tuesday's news that the U.S. Securities and Exchange Commission (SEC) has approved rule changes to allow a silver exchange traded fund (ETF). Silver's high on both Tuesday and Wednesday was more than double that of four years ago. "With the current price levels of both silver and zinc we look forward to beginning our work in Bolivia," said Jaime Melgarejo, Franklin CEO. "We feel that negotiations are nearly complete and work in the Cerro Rico could begin soon. And our shareholders could realize the benefit of a rising world-wide demand for silver."
When finalized Franklin Mining's negotiations with COMIBOL and a number of local mine workers' cooperatives will result in a Joint Venture dedicated to improving mine productivity in the Cerro Rico in Potosi, Bolivia.
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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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