Franklin Mining to Provide Rigs with Cherokee and GTS

Franklin Mining, Inc. has entered into a joint-venture agreement with Cherokee Oil & Gas, Inc., Tulsa, OK and General Turbine Systems, Inc., Houston, TX to provide oil rigs in Bolivia, Colombia and Franklin Oil & Gas, Bolivia S.A. has offered four rigs to YPFB (Yacimientos Petroliferos Fiscales Bolivianos).

Another three rigs have been offered in Colombia and two in Brazil.

In addition to providing rigs, Franklin Oil & Gas, Bolivia has submitted an application to YPFB for exploration and workover permits in four Bolivian oil fields.

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