Franklin Mining - Kalahari Greentech Announce Plan for Operating Agreement; Bolivia's Escala Mina I's Silver, Lead & Zinc Recove
March 31 2011 - 9:40AM
Marketwired
Franklin Mining, Inc. (PINKSHEETS: FMNJ) is pleased to announce
having negotiated a Joint Venture Agreement with Kalahari
Greentech, Inc. to establish a silver, lead and zinc recovery
operation at Bolivia's Escala Mina I.
Franklin has previously been granted rights for the exploration
and exploitation of metals and minerals at the Escala Mina I by
COMIBOL (National Mining Company of Bolivia). Franklin initially
formed a joint-venture including COMIBOL and Cooperativa Minera
"INTI" Ltda and established a mining operation with the completion
of infrastructure and other restorations at the mine's center of
operations and main tunnels. Kalahari Greentech, Inc., La Mesa, CA,
focuses on the development, construction, and operation of wind and
solar energy projects; this will be their first mining venture.
Each company will share equally in joint-venture revenue
distributions after expenses.
Terms of the joint-venture provides for Franklin and Kalahari to
be jointly and equally responsible for mining operations with each
to provide various management services.
About The Escala Mine: Consisting of three
separate mining applications, COMIBOL's Escala concession totals
2,000 hectares located in the Sud Lipez Province, near Bolivia's
border with Argentina. Franklin Mining Bolivia's current contract
is for the recovery of metals and minerals within a 500 hectare
area known as Escala Mina I; proposals for the inclusion of Escala
II and Escala III mining applications are currently before
COMIBOL.
The original Escala Mine was established during Bolivia's
Spanish colonial period and has been mined for lead, zinc, gold and
silver. In 2007, Franklin Mining Bolivia negotiated an agreement
with COMIBOL to resume operations at Escala Mina I and formed a
joint-venture to include Cooperativa Minera "INTI" Ltda.
About Franklin Mining, Inc.: Franklin Mining, Inc. has mining interests in the
United States and Bolivia. Additional information is available at
www.FranklinMining.com.
About Kalahari Greentech, Inc.: Kalahari Greentech, Inc. is an energy company
focused on the use of Natural Resources of the Earth to produce
revenues allowing the company to work on building a stronger planet
by developing and implementing Green Technologies worldwide.
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 further information, please visit our website
(www.FranklinMining.com) or contact our Investor Relations firm, A
S Austin Company, 210-204-5068
Contact: www.FranklinMining.com Investor Relations A S Austin
Company 210-204-5068
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