African Queen Mines Acquires Additional Ground at Yellowjacket Gold Project in British Columbia
Vancouver, British Columbia / TheNewswire / October 1 2015 -- African Queen Mines Ltd. (the "Company") is pleased to announce that it has now acquired four additional Mineral Claims under the B.C. Mineral Tenure Act aggregating 2411.38 hectares, in close proximity to its Yellowjacket Gold Project 9 km East of Atlin, B.C. (the "Project"). The claims are in an area of interest to the South and West of the Company's existing license area and three of them are contiguous to the Company's existing license area. Together with the initial license area covering 5544.96 hectares, the Company now controls 27 mineral claims, placer claims and placer leases covering an aggregate of 7956.34 hectares or approximately 79.56 sq. km of strategic ground comprising the Project.
As previously announced by PR dated August 11, 2015, the Company completed its acquisition of the Project pursuant to the terms of an Asset Purchase Agreement dated August 5, 2015. The Project includes all mineral rights, claims and leases comprising the Project, all equipment located thereon and any reclamation bonds associated therewith. The Project is in one of the Province's most prolific historic gold mining camps and includes a permitted mining operation with both hard rock and placer exploration targets.
The Company is presently formulating its plans for exploration, development and potential mining of the Project. Acquisition of this additional ground in close proximity to its existing license area further secures the Company's land position and provides additional potential exploration targets.
About African-Queen
The Company is an exploratory resource company with diversified mineral properties in Canada and East Africa. It is presently engaged in exploration and development of its Yellowjacket Gold Project in British Columbia, which covers an aggregate of approximately 79.56 sq. km. It is also exploring its Rongo (Odundu) Gold Project comprising approximately 97 sq.km. in Kenya for gold and other metals under a joint venture with a Kenyan company. Its operations in Kenya are carried out through its operating subsidiary AQ Kenya Gold Limited. The Company has its executive offices in Vancouver, Canada. The Company was incorporated under the laws of the Province of British Columbia, Canada on April 30, 2008, and received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF
AFRICAN QUEEN MINES, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
For more information, contact:
| Irwin Olian, President and CEO E-mail: tigertail@africanqueenmines.com Phone: (604) 788-0300 | Carrie Howes, Corporate Communications Email: carrie@africanqueenmines.com Phone : U.K. - +44 (0) 870 490 5443 Canada - +1 416 900 3634 |
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.
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