AFRICAN QUEEN CORRECTS AND CLARIFIES PRESS RELEASE DATED FEBRUARY 24, 2011, CONCERNING ORDER BY KENYA’S HIGH COURT
Vancouver, British Columbia — AFRICAN QUEEN MINES LTD. (the “Company”) announces that its Press Release dated February 24, 2011, erroneously reported that the High Court of Kenya in Kisumu had issued a formal order prohibiting any activities by B & M Mining Company (“B & M”) and its affiliates on B & M’s disputed License no. 214 covering 15 sq. km in the Kamwango area, which is also covered by Special License no. 287 granted to Abba Mining Company (“Abba”) on January 22, 2010, which covers an aggregate of 112 sq. km., and had stayed the effectiveness of said License no. 214, thereby prohibiting B & M and its JV partner Linear Metals Corporation (T: LMR) from entering upon the disputed ground. This erroneous language is hereby retracted. The Company is not a party to the foregoing action and relied upon information supplied by sources in Kenya which was believed to be true but turned out to contain errors.
In lieu of the foregoing, the Press Release should say that upon application, the High Court of Kenya in Kisumu on February 24, 2011, issued an order granting leave to Abba to apply for orders of certiorari, prohibition and mandamus in order to proceed with its action to quash B & M’s License no 214, prohibit any adverse actions against Abba’s Special License no. 287 and enforce Abba’s rights to full enjoyment of said Special License no. 287. The High Court ordered that Abba’s request for a stay of actions granting effectiveness of License no. 214 would be heard on March 3, 2011.
Insofar as there has been no challenge to date of Special License No. 287 or restatement of its boundaries, and the Commissioner of Mines and Geology has previously issued a letter confirming validity of such License as well as a letter approving the Joint Venture between Abba and the Company, counsel for Abba advises that the effect of the High Court order granting leave as aforesaid is to allow Abba and the Company to continue to work on the Kamwango Prospect without interference pending further adjudication.
The Company is active in Kenya exploring the Rongo Gold Fields Project with Abba. It has completed its Phase 1 field exploration program and is now readying targets for a comprehensive core drilling program which is scheduled to commence within the next few months. The Company is also in negotiation on several joint ventures with other partners covering other projects and has applications pending with the Commissioner of Mines and Geology for exploration licenses covering a number of other highly prospective areas.
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 230 sq km of gold and other metals licenses under an agreement with another company. 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 are being carried out through its operating subsidiary AQ Kenya Gold Limited. 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
Dubai - +971 55 997 0427
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.