African Queen Appoints Mark Lotz as New CFO And Director
AFRICAN QUEEN MINES LTD. (the 'Company?) is pleased to announce
that Mr. Mark Lotz, C.A., has been appointed to serve as the new Chief
Financial Officer of the Company and as a Director, replacing Ms. Limor
Rubin, C.A. Ms. Rubin has resigned as CFO and as a Director in order to
pursue other professional and personal interests as she relocates
overseas with her family. She will remain as a Financial Consultant for
the Company for a period of one year.
In connection with the appointment of Mr. Lotz as CFO and as a Director,
the Company has granted him incentive stock options, subject to any
necessary regulatory approvals, to purchase up to 150,000 shares of its
Common Stock. The options are exercisable for a term of three years at a
price of CAD $0.35 per share.
Mr. Lotz holds a Bachelor′s degree in Business Administration with a
joint major in Economics. He is a Canadian Chartered Accountant with 17
years of post-qualification experience, most of which has been in the
minerals industry and minerals related securities business. Mr. Lotz has
held CFO and other senior financial positions with several well-known
mining and exploration companies. He has also served as a senior
executive officer for two well-known Vancouver based securities firms.
Prior to that, he served as a financial compliance officer for the
Vancouver Stock exchange, following four years as a Senior Auditor with
Coopers and Lybrand, focusing on the mining and tax sectors.
According to Mr. Irwin Olian, CEO of the Company, 'We are delighted to
welcome Mark Lotz as our new CFO and as a Director. His experience and
qualifications will be invaluable to African Queen as we continue to
expand the Company in the future. At the same time, we want to express
our gratitude to Limor Rubin, for her five years of dedicated service
and many contributions to our growth. We wish her every success in her
new pursuits overseas.?
About African-Queen
The Company is an exploratory resource company with diversified mineral
properties in Southern, East and West Africa. It is exploring its
properties in Mozambique, Ghana and Kenya for gold and other metals and
it is undertaking exploration in Botswana and Namibia for diamonds, gold
and other metals. In Mozambique the Company has approximately 230 sq.
km. under license for gold and metals under an agreement with another
company. In Ghana it has 28.9 sq. km. under license for gold. In Kenya
it has approximately 850 sq. km. under license for gold and metals, and
a further 737 sq. km. of gold and other minerals licenses under
agreements with two other companies. The Company′s licenses in Botswana
comprise approximately 2890 sq. km. of diamond prospects. The Company′s
operations in Mozambique are carried out through its subsidiary PAM
Mocambique Limitada and its operations in Ghana are carried out through
its subsidiary AQ Ghana Gold Limited. Its operations in Kenya are being
carried out through its operating subsidiary AQ Kenya Gold Limited. 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. 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 the southern African net 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
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.
AFRICAN QUEEN MINES LTD.
Irwin Olian, President and CEO
E-mail:
tigertail@africanqueenmines.com
Phone:
(604) 899-0100
Fax: (604) 899-0200
or
Carrie Howes,
Corporate Communications
Email: carrie@africanqueenmines.com
Phone:
Germany - 49 (0) 21141 740411
U.K. - 44 (0) 870 490 5443
Canada
- 1 416 900 3634