African Queen Mines, Ltd. - Grants Stock Options

Wed. November 19, 2008; Posted: 02:58 PM

Vancouver, British Columbia CANADA, Nov 19, 2008 (Filing Services Canada via COMTEX) -- AQ | Quote | Chart | News | PowerRating -- African Queen Mines Ltd. (AQ - TSX Venture), announces that it has granted, subject to any necessary regulatory approvals, incentive stock options to purchase up to an aggregate of 1,230,000 shares of its common stock of which 200,000 were granted to, Ms. Limor Rubin, CFO and a Director, 200,000 were granted to Mr. Gregory Sparks, Director, 50,000 were granted to Mr. Ardito Martohardjono, Director, 200,000 were granted to Dr. Andrew Moore, Vice-President Diamond Exploration, 100,000 were granted to Mrs. Carrie Howes, European Corporate Communication Representative, and 480,000 stock options were granted to various individuals, including employees, administrative staff, and consultants. The options are exercisable for a term of three years at the price of CAD $0.15 per share.

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"

Irwin Olian

Chairman & CEO

For more information, contact:

Irwin Olian, President and CEO

E-mail: tigertail@africanqueenmines.com

Phone: (604) 899-0100

Fax: (604) 899-0200

Limor Rubin, CFO and Director -

Email: limor@africanqueenmines.com

Phone: (604) 899-0100

Fax: (604) 899-0200

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.

Source: African Queen Mines Ltd.

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