Mozambique Gold Properties

African Queen Mines has acquired extensive land holdings with potential for significant gold prospects in Mozambique. The company currently holds gold prospects in the Tete province of Mozambique.

The King Soloman Project license covers an area of approximately 230 sq.km. in the center of the Fingoe Belt, now called the “King Solomon Project,” adjacent to permits African Eagle Gold Properties. The license is the subject of the Earn-in and Joint Venture Agreement dated July 10, 2009, with Swiss-based Opti Metal Trading Limited (“Optimetal”), covering exploration, development and exploitation of Prospecting License No. 884L held by Optimetal’s Mozambique subsidiary.

The African Eagle project is a grass roots exploration project with good potential for the discovery of mesothermal vein gold, distal skarn Au and IOCG deposits. It comprises Prospecting Licenses subject to earn-in and joint venture Agreement between the Company and African Eagle Resources plc (AIM: AFE), covering an aggregate of 150 sq.km.