Franklin Mining One Step Closer to Mining Lithium in Argentina

Rhea-AI Summary

Franklin Mining CEO William Petty has returned to Argentina for lithium mining in the Lithium Triangle, having secured over 10,000 hectares in the Catamarca region. The Joint Venture agreement with SOCRAM Energia S.A. lasts thirty years, allowing Franklin Mining to control 80% of the lithium. Vice President of Operations, Fernando Freudenthal, is set to lead exploration efforts to verify mine viability. Mr. Petty expressed optimism in successfully extracting lithium based on provided information from partners.

Positive

• Secured over 10,000 hectares for lithium mining in Argentina.
• Joint Venture with SOCRAM Energia S.A. gives Franklin Mining 80% lithium control.
• Long-term agreement spans thirty years.

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• None.

Carson City, NV, March 01, 2022 (GLOBE NEWSWIRE) -- Franklin Mining CEO William Petty (OTC Pink: FMNJ) has returned to Argentina in pursuit of mining lithium from the mineral-rich region known as the Lithium Triangle. After previously agreeing with SOCRAM Energia S.A. to develop a mine, Mr. Petty has secured the land to be developed, totaling more than 10,000 hectares in the Catamarca region of Argentina.

The Joint Venture agreement, signed last week in Buenos Aires, spans the next thirty years with 80% of the lithium controlled by Franklin Mining.

Franklin Mining Vice President of Operations in South America, Fernando Freudenthal, will head to Argentina in March in order to structure the team that will lead the research and development of the mining area. The first step will be an exploration program which will verify all claims and studies given to Franklin Mining in regards to the viability of the mine.

“We look forward to corroborating the information we have been given by our partners, so that we will be successful in our goal of extracting lithium,” Mr. Petty said.

Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.

For additional information, visit our website at www.FranklinMining.com, email: FranklinMining.CEO@gmail.com or follow us on Twitter @FMNJ1864

FAQ

What is Franklin Mining's plan for lithium mining in Argentina?

Franklin Mining plans to develop lithium mining in the Lithium Triangle of Argentina, having secured over 10,000 hectares of land.

Who is leading the exploration efforts for Franklin Mining in Argentina?

Fernando Freudenthal, Vice President of Operations, will lead the exploration efforts in Argentina.

What percentage of lithium does Franklin Mining control under the Joint Venture?

Under the Joint Venture with SOCRAM Energia S.A., Franklin Mining controls 80% of the lithium.

How long is the Joint Venture agreement for Franklin Mining's lithium project?

The Joint Venture agreement spans thirty years.

When did Franklin Mining secure the land for lithium mining?

Franklin Mining secured the land for lithium mining in March 2022.