Franconia Files Technical Report Supporting Latest Ni 43-101 Resource Estimate On Birch Lake Copper-Nickel-Pgm Resource

Supports Substantial Increase at Birch Lake to Indicated Resource of 108 Million Tonnes plus Inferred Resource of 87 Million Tonnes

August 25, 2008, Spokane, Washington: Franconia Minerals Corporation (TSX-FRA) ("Franconia") is pleased to report that the Technical Report has been filed through SEDAR (www.sedar.com) supporting its previously announced updated resource estimate for the Main Zone at the Birch Lake property copper-nickel-platinum group metal (PGM) deposit, one of three underground resource areas identified thus far at Franconia's Birch Lake Project in Minnesota (see Franconia news release of July 9, 2008.)

Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA), which provided the Technical Report according to NI 43-101 standards, estimates an Indicated Resource* of 108.2 million tonnes averaging 0.53% Cu, 0.16% Ni, 0.009% Co, 0.28 g/t Pt, 0.60 g/t Pd and 0.13 g/t Au plus an Inferred Resource of 87.3 million tonnes averaging 0.54% Cu, 0.17% Ni, 0.009% Co, 0.23 g/t Pt, 0.49 g/t Pd and 0.11 g/t Au for the Birch Lake deposit. This represents a substantial increase from the previous Birch Lake property resource, which included only an Inferred Resource of 100.4 million tonnes grading 0.58% Cu, 0.19% Ni, 0.008% Co, 0.32 g/t Pt, 0.65 g/t Pd and 0.14 g/t Au and no Indicated Resource. Drilling to convert the inferred resource to indicated resource as part of a pre-feasibility study is currently underway.

Previous technical reports (also by Scott Wilson RPA), completed in 2006, examined the potential economic viability of mining concurrently the Birch Lake and the nearby Maturi resources, feeding one central processing facility. With this recent reassessment of the Birch Lake property resources, the Company is to begin a Preliminary Economic Assessment to examine the viability of a stand-alone, 20,000 tonnes-per-day, 20 year-plus mine life Birch Lake "starter" underground operation. Such a scenario would involve lower capital costs and a more favorable land ownership and permitting environment than the previously contemplated combined Birch Lake/Maturi operation, thereby significantly reducing the time to production.

The new estimate only considers material within the geologically-defined, readily recognizable Main Zone. It does not incorporate any of the additional mineralization that has already been identified immediately above and below this zone and to the northwest of the deposit where diamond drilling has cut the longest, high-grade mineralization intercepted so far on the property. The deposit remains open to the north, northwest and to the south and additional "step-out" drilling is currently underway (The Main Zone is a mineralized zone with excellent geological continuity that should present a well defined mineable unit for mine planning and development.)

(*The Birch Lake deposit currently contains both Indicated and Inferred resources. An Indicated mineral resource is a portion of a mineral resource for which quantity, grade, and other characteristics can be estimated with a level of confidence sufficient to support mine planning and additional economic evaluation of the project. An Inferred Resource is that part of a mineral resource for which certain characteristics can be estimated based on geological evidence and limited sampling and which can be reasonably assumed to have a consistent grade of mineralization.)

The new estimate and Technical Report were prepared by Richard Routledge, M.Sc., P. Geo., of Scott Wilson RPA, an appropriately qualified person according to NI 43-101.

Franconia Minerals Corporation trades on the TSX under the symbol FRA. (For additional information see www.franconiaminerals.com.) Franconia currently has 59,017,572 shares issued and outstanding.

Brian Gavin, President and CEO
For more information:
In the US: Matthew Selinger: 415 896 6817 mselinger@evcgroup.com
In Toronto: Greg Taylor: 905 337 7673 gtaylor@franconiaminerals.com
In Vancouver: Farah Alibhai: 604 731 7340 info@franconiaminerals.com

FORWARD-LOOKING STATEMENT: Although Franconia Minerals Corporation believes many of its properties have promising potential. These properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.