AFRICAN QUEEN MINES REPORTS 5-YEAR EXTENSION OF THE KING SOLOMON PROSPECTING LICENSE
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”) is pleased to announce that its Earn-In and JV partner, Swiss-based Opti Metal Trading Limited (“OptiMetal”), has now been granted, through its operating subsidiary Opti Metal Trading Mocambique, Limitada, a five-year extension on its underlying Prospecting License No. 884L. The License was issued by the Ministry of Mineral Resources of the Republic of Mocambique and is now effective for the period through May 20, 2015. It covers an area of approximately 230 sq. km in the center of the Fingoe Belt, encompassing the King Solomon Project. It is contemplated that the License will ultimately be transferred to a joint venture company to be formed by the partners and owned in proportion to their respective interests.
The King Solomon Project is located within the central parts of the Mesoproterozoic Fingoe Belt in western Tete Province, Mocambique. These rocks consist of metavolcanics, metasediments and intrusive granitic and gabbroic rocks. As previously reported in various press releases and the N.I. 43-101 Technical Report prepared by PAC Geological Consulting Inc. of Vancouver, surface exploration to date has yielded relatively high concentrations of copper, gold, zinc, silver, bismuth and other metals on at least four distinct regional targets. The Company’s initial 2000 m. core drilling program is now underway on the key copper and gold targets. Initial results are expected in the near future.
About African Queen
The Company is an exploratory resource company with diversified mineral properties in Southern and West Africa. It is exploring its properties in Mozambique, Kenya and Ghana for gold and other metals and it is exploring its properties in Botswana and Namibia for diamonds. The Company’s licenses in Botswana and Namibia comprise approximately 9208 sq km of diamond prospects. In Mozambique it has approximately 380 sq km of gold and other metals licenses under agreements with two other companies. In Kenya it has approximately 112 sq. km. of gold and other minerals licenses under an agreement with another company. Its operations in Botswana are carried out through its operating subsidiary, PAM Botswana (Pty) Ltd.; its operations in Namibia are carried out through its operating subsidiary PAM Minerals Namibia (Pty) Ltd.; its operations in Mozambique are carried out through its subsidiary PAM Mocambique Limitada and its operations in Ghana are carried out through its subsidiary AQ Ghana Gold Limited. Its operations in Kenya will be carried out by an operating subsidiary presently being formed. The Company has its executive offices in Vancouver, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS OF
AFRICAN QUEEN MINES, LTD.
Chairman & CEO
For more information, contact:
President and CEO
Phone: (604) 899-0100
Fax: (604) 899-0200
Düsseldorf +49 (0) 1722 1234 47
London - +44 (0) 7780 602 788
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.