LAS VEGAS, NV–(EMWNews – August 7, 2008) – Franklin Mining, Inc. (PINKSHEETS: FMNJ)

(FRANKFURT: FMJ) Chairman and President William A. Petty is pleased to

announce that during his latest visit to Buenos Aires, a Letter of Intent

was signed with Epsur for the possible future development of oil fields in

the northern part of the Province of Santa Cruz, Argentina.

Mr. Fernando Infante, Executive Vice President, Franklin Mining, Inc., and

Mr. Howard Dunn, Vice President for International Operations, remain in

Buenos Aires and will visit several Epsur oil fields as part of their

review and evaluation of multiple opportunities. Mr. Petty has returned to

Franklin Mining, Inc.’s offices in Santa Cruz, Bolivia to continue

monitoring progress at the company’s Escala Mine.

About Epsur: Headquartered in Comodoro Rivadavia Chubut, with additional

offices in Buenos Aires, Epsur (www.epsur.com.ar) is actively engaged in

oil exploration and development in the Chubut, Santa Cruz and Tierra del

Fuego regions of Argentina.

About Franklin Mining, Inc.: Franklin Mining, Inc. has mining and energy

interests in the United States and Bolivia as well as energy interests in

Argentina. Franklin Mining, Bolivia is a wholly owned subsidiary. Franklin

Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A.

and Franklin Oil & Gas International S.A. 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 further information, please visit our website (www.FranklinMining.com)

or contact our Investor Relations firm, A. S. Austin & Company,

702-386-5379.