Vancouver, British Columbia / TheNewswire / January 11, 2017 -- AFRICAN QUEEN MINES LTD. (the "Company") announces that it granted on January 9, 2017, subject to any necessary regulatory approvals, incentive stock options to purchase up to an aggregate of 2,150,000 shares of its Common Stock. Of these options, 700,000 are being granted to a group of six officers and directors, and 1,450,000 are being granted to a group of seven consultants. The options are exercisable for a term of three years at the price of CAD $0.05 per share and are subject to the Company's customary vesting provisions.
The Company is an exploratory resource company engaged in exploration and development of mineral properties in Canada and Africa. It is presently focusing on development of its Yellowjacket Gold Project in Atlin, British Columbia, which covers an aggregate of approximately 271 km2. 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.
Chairman & CEO
For more information, contact:
Irwin Olian, President and CEO
Phone: (604) 788-0300
Carrie Howes, Corporate Communications
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.