ORBMINCO LIMITED — Capital/Financing Update 2007

Nov 8, 2007

9 NOVEMBER 2007

ASX ANNOUNCEMENT

==> picture [539 x 61] intentionally omitted <==

MONARO TO EXPLORE FOR MINERALS IN ESTONIA

Initial application for exploration title lodged with the Ministry of Environment by wholly owned Estonian subsidiary, with additional applications planned

Estonia is highly prospective for a range of metals including base and precious metals, uranium, molybdenum and vanadium

Strong co-operation with the Government-owned Geological Survey of Estonia including an agreement for the provision of geological services

INTRODUCTION

Following an assessment of the mineral potential of the Republic of Estonia, Monaro has established a wholly owned subsidiary, Balti Kavenadused ja Uuringud (“BKU”) to conduct exploration in that country.

The primary geological targets include the crystalline basement and the overlying Paleozoic sediments. The area of interest covers the northern third of the country, as this is where these units outcrop or lie at depths within reasonable commercial reach. Depending upon the location, these geological units have demonstrable anomalous values in base and precious metals, uranium, molybdenum and vanadium.

APPLICATION AREA

The application area covers slightly less than 100 km[2] and is located within the County of Laane-Viirumaa. Its position is illustrated in the adjacent plan. The application seeks to obtain consent to explore on land owned primarily by the Federal Government. However, consent will be sought from the owners of private land wherever appropriate. An exploration consent period of 5 years is being sought . Additional licences are being prepared for lodgement over the most prospective areas in the coming months.

AGREEMENT WITH GEOLOGICAL

SURVEY OF ESTONIA

The Company has entered into a unique agreement with the Geological Survey of Estonia (GSE), with the latter organisation providing consulting services to the Company. The GSE is the Country’s premier source of geological expertise as well as being the repository of all of its geological and mineral archives.

==> picture [241 x 266] intentionally omitted <==

----- Start of picture text -----

Location of
application
----- End of picture text -----

==> picture [76 x 18] intentionally omitted <==

ABOUT ESTONIA

Estonia is a small North-eastern European country with a population of about 1.5 million. It is one of the fastest growing new democracies in Europe with a stable government and has a very positive business environment. It is also a member of the European Economic Union.

Commenting on the initiative, Monaro’s Managing Director, Mart Rampe, said:

“We have been assessing the opportunities in Estonia for almost 9 months now, working closely with the Estonian Geological Survey and the Government and becoming familiar with the operation of the new exploration and mining legislation and the exciting exploration potential that the country offers. This is a major initiative for Monaro as it opens up highly prospective opportunities delineated by the Geological Survey’s work over the past five decades”

The review of exploration activities and results contained in this report in relation to the Estonian project is based on information compiled by Mart Rampe , a Member of the Australasian Institute of Mining and Metallurgy. He is the Managing Director of the Company and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mart Rampe consents to the inclusion of this information in the form and context in which it appears in this report.

FURTHER INFORMATION

For further information please contact Mart Rampe, Managing Director, on +61 2 4647 9566 or Warwick Grigor, Chairman, on +61 2 9247 0077.

ABOUT MONARO MINING NL – “Building a Serious Uranium Company”

Monaro Mining NL is an Australian-based international exploration and development company focusing on uranium. Its major assets include a highly prospective set of tenements in the Central Asian Kyrgyz Republic and Australia. In addition, gold and base-metal projects are located in NSW, Australia. Monaro aims to grow both through project acquisition and corporate initiatives such as the recently announced merger proposal with Uranium King Limited, which will provide the opportunity for near term uranium production in the USA. The shares are listed on the Australian Stock Exchange, the Frankfurt Stock Exchange and it is progressing with an ADR listing in the USA.