Client Press

May 8, 2007, Spokane, Washington: FRANCONIA MINERALS CORPORATION (TSX-V:FRA) announces the results of the Company's 2006/2007 core drilling program at the 8,000 acre Red Knoll property in Graham County, Arizona (see Franconia News Release December 12, 2006.) The four-month program, which concluded earlier this month, confirmed that the property hosts widespread potential host rocks for porphyry copper mineralization at a reasonable depth.

"We are very pleased to find that this first round of drilling revealed a geochemical signature and hydrothermal alteration consistent with a copper porphyry system. Also, the drilling indicates that there is the possibility for copper mineralization to be found at Red Knoll and at a reasonable depth for mining," said Brian Gavin, Franconia's president. "Although we are awaiting some further results we already have several geological targets that warrant further examination."

The four-month drill program, which concluded earlier this month, was designed to test for concealed porphyry-style copper mineralization within Laramide-age volcanic rocks buried beneath post-mineral volcanic cover in an area between Phelps Dodge's Morenci mine, the largest copper producer in the US, and the Safford porphyry copper district. A secondary objective was to test the depth to the potential Laramide-age metavolcanics on the property.

Three holes (RK-4, -5 and -6) totaling 6,862 feet were completed, investigating three of four IP anomalies generated by a Titan 24 geophysical survey conducted by Quantec Geoscience in May of 2006. That 4 line, 17-line kilometer geophysical survey generated two high priority targets and two lower priority targets. While ore-grade mineralization has not yet been encountered, all three drill holes intercepted host rocks with the potential for porphyry copper mineralization at depths ranging from 979 to 1782 feet.

One hole (RK-4), which tested an IP anomaly on the west end of Line 2, intercepted Laramide metavolcanics displaying strong to intense phyllic alteration with subordinate propylitic to phyllic transitional alteration. This alteration was accompanied by 1 to 3 percent pyrite starting at 1616 feet (locally 4 to 6 percent) with anomalous copper values. Pyrite occurs as fine-grained disseminations and in microfractures. Analytical results received to date indicate anomalous copper values increase with depth from 1616 to 2456 feet. The alteration and mineralization observed in RK-4 may indicate proximity to a porphyry copper system. The Company believes these results warrant additional geophysical examination as well as further drilling in the area, particularly to the east. In addition, based on depths-to-Laramide, a number of geological targets have been identified that merit testing.

Results from the other two drill holes (RK-5 & RK-6B) did not explain their respective IP anomalies and pending analytical results are not expected to yield any anomalous copper values.

The Red Knoll property is subject to a Property Acquisition Agreement with Teck Cominco American Incorporated (Teck Cominco) whereby Franconia can earn a 100% interest in the unpatented mining claims by incurring US$2,000,000 in exploration expenditures over four years and issuing shares to Teck Cominco. Upon Franconia completing expenditures on the property, Teck Cominco has a one-time option to elect to back-in to a 70% interest in the property by spending US$5,000,000 over four years (See Franconia's news release of June 27, 2005).

For more information, please visit the Franconia Minerals Corporation website at www.franconiaminerals.com