(RTTNews) -  Monday, African Queen Mines Ltd. said it has entered into a purchase & sale agreement with Newmont Ghana Gold Limited or NGGL, the Ghanaian subsidiary of Newmont Mining Corporation (NEM: News ), under which NGGL is transferring the License directly to the company's Ghanaian subsidiary AQ Ghana Gold Ltd. (AQGGL), to be held in trust for the Joint Venture partners in accordance with the Akan Agreement.

Simultaneously, the company said it has now entered into an Earn-in and Joint Venture Agreement, with Marshall Islands' private company Akan Exploration Ltd., covering exploration, development and exploitation of the Noyem Gold Project, which is the subject of the Noyem-Nyafoman Prospecting License LVB 10244/1995 in Ghana.

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by RTT Staff Writer

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