The Dromore Investment Company, Limited, 117902 Canada Inc., Smith Vincent & Co. Ltd., Forfuture Limited, Kit Vincent, Martha Vincent, G. Mark Curry and the Murphy Foundation Incorporation (Collectively, the "Shareholders")

    Franconia Minerals Corporation

    TORONTO, Jan. 18 /CNW/ - Certain related holding companies, individuals
and trusts that are all related to the Vincent and/or Curry families of
Toronto (the "Shareholders"), who may be considered to act "jointly or in
concert" for purposes of Canadian securities legislation, own an aggregate of
9,459,903 Common Shares of the Franconia Minerals Corporation (the "Issuer"),
representing approximately 16.30% of the issued and outstanding Common Shares,
based on a total of 58,024,744 Common Shares issued and outstanding. Such
Common Shares are owned as follows:

          Beneficial Owner              Number of    Percentage
                                    Common Shares     Ownership
                               Beneficially Owned
    The Dromore Investment              1,834,484          3.16%
     Company, Limited
    117902 Canada Inc.                  2,334,484          4.02%
    Smith Vincent & Co. Ltd.            2,389,300          4.12%
    Forfuture Limited                     518,535          0.89%
    Kitson Vincent                      1,500,000          2.59%
    Martha Vincent                        303,100          0.52%
    G. Mark Curry                         280,000          0.48%
    The Murphy Foundation                 300,000          0.52%

    The Common Shares were acquired by the Shareholders in the ordinary
course of business for investment purposes. The Common Shares were not
acquired for the purpose of changing or influencing the control of Franconia
Minerals and were not acquired jointly or in concert with any person in a
transaction having such a purpose. The Shareholders have no intention of
making an offer generally to acquire Franconia Minerals.
    This press release is being issued in accordance with the early warning
requirements of applicable Canadian securities laws.

For further information:

For further information: Kit Vincent, Suite 808, 1200 Bay St, Toronto,
Ontario, (416) 964-6411

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