African Queen Mines Ltd. -- Properties & Projects

Properties & Projects: Africa

Gold
African Queen Mine's gold properties are located in the Mozambique through Earn-In agreements with two Companies. In addition, the Company has entered into an Earn-in and Joint Venture Agreement with a private company AKAN EXPLORATION LTD., covering exploration, development and exploitation of the Noyem Gold Project, which is the subject of the Noyem-Nyafoman Prospecting License LVB 10244/1995 in Ghana.

Diamonds
Half of the World Diamonds are mined in Namibia and Botswana. African Queen Mines has approximately 2,890 sq. km. of contiguous diamond licenses in Botswana and 6,268 sq. km. in Namibia where it has confirmed strong diamond targets.

Botswana
Botswana remains the world’s leading producer of gem diamonds. The Company's Tsau properties are strategically located close to two major surface concentrations of diamonds and G10 garnets in the vicinity of Omatako and Tsumkwe, to the west in Namibia.

Mozambique
Exploration and development of prospective gold projects in Mozambique presently underway in the Tete province approximately 380 sq km of gold and other metals licences under agreements with two other companies and features the King Solomon Gold project in the center of the Fingoe Belt.

Namibia
The ground in Namibia has been acquired in order to investigate a group of bulls-eye magnetic and photo features, closely comparable to those typical of kimberlite clusters that straddle the Namibian-Botswana border.

Ghana
The Company is aquiring approximately 28.9 sq. km. form Newmont Mining located within the Birim North District of Ghana’s Eastern Region, approximately 130 km. NW of Accra. It is at the northeastern end of Ghana’s well-known, gold-producing Ashanti Gold Belt, near Newmont’s Akyem deposit which is presently under development for potential production. It is also within approximately 100 km. of AngloGold Ashanti’s world-class Obuasi Mine and the old Konongo open pit gold mine. Approval by Ghana Ministry is pending.

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