African Queen Announces Private Placement

VANCOUVER, Canada--(Business Wire)--
AFRICAN QUEEN MINES LTD. (the "Company") is pleased to announce the closing of
the first tranche of its previously announced non-brokered private placement
which has raised gross proceeds of CAD $836,000. Under the terms of the private
placement, the Company has issued 2,787,400 Units (the "Units") at CAD $0.30 per
Unit to institutional and private investors.

Each Unit consists of one common share of the Company and one-half of one share
purchase warrant (the "Warrants"). Each whole Warrant entitles the holder to
purchase one additional common share of the Company at an exercise price of CAD
$0.45 until April 20, 2011.

The Company paid cash finders` fees of CAD $36,414, representing 4.35% of the
aggregate proceeds of the offering.

The Units are subject to a 4-month hold period in Canada expiring August 21,
2009.

Proceeds from the private placement will be utilized for acceleration of work
programs on the Company`s gold projects in Mozambique as well as potential
property acquisitions and working capital.

It is anticipated that a further tranche of the private placement will close
within approximately two weeks.

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 1350 sq km of gold and other metals licences under agreements with
two 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.

"Limor Rubin"
Limor Rubin
Chief Financial Officer & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.

African Queen Mines Ltd.
Irwin Olian, President and CEO
Phone: (604) 899-0100
Fax: (604) 899-0200
tigertail@africanqueenmines.com
or
Carrie Howes, Corporate Communications
Phone: Düsseldorf - +49 (0) 1722 1234 47
Phone: London - +44 (0) 7780 602 788
carrie@africanqueenmines.com

Copyright Business Wire 2009