SOURCE: African Queen Mines Ltd.

December 16, 2008 18:04 ET

African Queen Mines Commences Trading on the Frankfurt Stock Exchange

VANCOUVER, BC--(Marketwire - December 16, 2008) - AFRICAN QUEEN MINES LTD. (the "Company") (TSX-V: AQ) has now commenced trading under the symbol "QM0.F" (0 means zero) on the Open Market organized by Deutsche Borse on the Frankfurt Stock Exchange (FWB Frankfurter Wertpapierborse) (FRANKFURT: QM0). In addition, its Common Shares have been assigned the WKN Number A0Q7GA.

The market maker for the Company's common shares is ICF Kursmakler AG, one of the leading German securities trading banks.

The Open Market represents one of three German securities market segments regulated by law. Shares, certificates and warrants from more than sixty countries are listed on the Open Market in addition to German securities. Trading in such securities is monitored by the German Federal Financial Supervisory Authority (BaFin), as well as the Market Surveillance Office (HuSt).

According to Irwin Olian, CEO of the Company, "We are delighted that trading in Shares of African Queen has now commenced on the Frankfurt Stock Exchange. We have already established a large and growing European shareholder base, through the Company's predecessor, Pan African Mining Corp., and trading in Frankfurt should facilitate liquidity and lead to further expansion of our shareholder base."

About African-Queen

The Company is an exploratory resource company with diversified mineral properties in Southern Africa. It is exploring its properties in Botswana and Namibia for diamonds, and it is exploring its properties in Mozambique for gold and other metals. The Company licences in Botswana and Namibia comprise approximately 11,800 sq km of diamond prospects. In Mozambique it has approximately 2,000 sq km of gold and other metals licences under agreements with three other companies. 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.; and its operations in Mozambique are carried out through its subsidiary PAM Mocambique Limitada.

The Company has its executive offices in Vancouver, Canada.

On Behalf Of the Board of Directors Of
African Queen Mines, Ltd.

Irwin Olian
Chairman & CEO

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.

Contact Information

  • For more information, contact:

    Irwin Olian
    President and CEO
    E-mail: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Carrie Howes
    Corporate Communications
    Email: Email Contact
    Phone: Dusseldorf - +49 (0) 1722 1234 47
    Phone: London - +44 (0) 7780 602 788