December 2 , 2008
IRWIN OLIAN ANNOUNCES FILING OF ADDITIONAL EARLY WARNING REPORT
Irwin A. Olian, Jr. (“Olian”), who serves as the Company’s Chairman & CEO and previously held 5,575,000 common shares of African Queen Mines Ltd. (“African Queen”) representing 16.17% of the issued and outstanding shares of African Queen, announces that he has now purchased a further 625,000 common shares of African Queen (the “Shares”) through the facilities of the TSX Venture Exchange at the price of $0.07 per Share in respect of 275,000 Shares, $0.095 per Share in respect of 50,000 Shares, and $0.10 per Share in respect of 300,000 Shares. In addition, Olian has been granted options to purchase up to 600,000 common shares of African Queen exercisable at the price of $0.15 per share, of which 150,000 options are or become vested within the next 60 days. The 625,000 Shares and 150,000 options collectively represent 2.24% of the issued and outstanding shares of African Queen. Accordingly, Olian now beneficially owns in aggregate 6,350,000 common shares representing 18.34% of the issued and outstanding common shares of African Queen as at December 2, 2008.
Olian acquired the securities for investment purposes and may acquire further common shares or dispose of his holdings of common shares as investment conditions warrant.
For additional information or for a copy of Olian’s early warning report, please contact Irwin Olian at (604) 899-0100 or e-mail email@example.com.
Irwin A. Olian, Jr.
P.O. Box 11553
Suite 1925, 650 West Georgia Street
Vancouver, British Columbia V6B 4N8
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.