Franklin Mining Signs Agreement to Develop Mining Operations in New Area of Bolivia

Rhea-AI Summary

Franklin Mining has signed a Letter of Intent with the Cooperativa Minera Las Piedras, focusing on developing the San Ramon area in Bolivia, which spans nearly 4,000 acres. This region is rich in minerals such as Gold and Tantalite. The agreement will lead to a Contract for Mining Operations, allowing Franklin Mining and its local subsidiary to manage operations and product commercialization. A visit to the site is planned for legal and geological assessments. The collaboration aims to fast track the operations in this promising mining area.

Positive

• Agreement with Cooperativa Minera Las Piedras enhances operational prospects in a mineral-rich area.
• Access to nearly 4,000 acres of mining concessions could lead to significant resource extraction.
• Focus on Gold, Tantalite, and other minerals aligns with market demands.

Negative

• None.

Carson City, NV, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Franklin Mining CEO William Petty (OTC Pink: FMNJ) and the Cooperativa Minera Las Piedras, a Bolivian Mining Co-op, have reached an agreement and signed a Letter of Intent outlining the future development plans of the area known as San Ramon. The Las Piedras hold the mining rights for a 62 Cuadricula Concession (nearly 4,000 acres) with indications of heavy mineralization. This region is located within the Precambrian Shield, a geological area rich in Gold, Wolfram, Tantalite, and other minerals located near the town of San Ramon, in the Department of Santa Cruz, Bolivia.

Within the Letter of Intent, both parties have expressed their interest in signing a Contract for the Provision of Services for Mining Operation, or an Associative Entrepreneurship, which are different forms of association between private and cooperative parties, as approved under current Bolivian mining law. In such an agreement, Franklin Mining Inc., via its fully owned local subsidiary, and the Cooperative would be responsible for the mining operation, as well as the processing and commercialization of the product(s) that become available, while maintaining a focus on Gold.

Franklin Mining is preparing to soon visit the area in order to obtain and verify information on the different legal, geological, technical, financial, and other aspects regarding the Cooperative and the mining location. Franklin Mining has already obtained all the necessary legal documentation from the Cooperative, who have offered their full collaboration for the facilitation of the planned trip objectives. Both parties used the Letter of Intent to declare their willingness to continue with the planning and negotiation process in order to fast track operations in the highly prospective area.

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 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, www.FranklinMining.com, Phone:  830-331-0031, Email: FranklinMining.CEO@gmail.com or follow us on Twitter @FMNJ1864

FAQ

What is the significance of Franklin Mining's agreement with Las Piedras?

The agreement marks a strategic partnership for mineral exploration and resource extraction in a promising area of Bolivia.

What minerals are targeted in the San Ramon area by FMNJ?

Franklin Mining is focusing on Gold and Tantalite among other minerals in the San Ramon area.

What is the size of the mining concession held by Las Piedras?

The mining concession spans nearly 4,000 acres.

When does Franklin Mining plan to visit the San Ramon area?

Franklin Mining plans to visit the area soon to verify important operational information.