ORBMINCO LIMITED — Capital/Financing Update 2007

Jul 18, 2007

MONARO MINING NL ABN: 99 073 155 781

Tel: +61 2 4647 9566 Fax: +61 2 4647 7332 All Correspondence to: PO Box 427 Narellan NSW 2567

19[th] July 2007 ASX Announcement

Operations Update - Australian Uranium Projects

• Additional licence applications lodged in North-West Queensland prospective for Ernest Henry Style and/or Roxby Downs mineralisation

Australian uranium projects (Monaro earning up to 75%)

North-West Queensland

An additional four exploration licence applications have been lodged in North-West Queensland under the Hapsburg Joint Venture, bringing to eight, or 2061 km[2] under application in this highly prospective region. The location of these licences are illustrated in Figures 1 and 2.

The licences are located close to or adjacent to a number of specific target zones which have been outlined by the Queensland Department of Mines and Energy as being prospective for IOCG or Ernest Henry and/or Olympic Dam styles of mineralisation. These zones have been delineated as CGR88, CGR89 and CGH92 and their location with respect to the tenements are illustrated in Figure 2. A summary of the main features of these zones are outlined below:

Zone*	Target Style and Mineralising Event	Rating#
CGR88	Magnetite poor,reduced andhaematite. Williams age plutonism.	1
CGR89	Magnetite-rich, Ernest Henry style and Magnetite poor, haematite, Olympic Damstyle. WilliamsAge plutonism.	1
CGH92	Magnetiterich,ErnestHenry style.	1

*From: Table 11.4: “North-West Queensland Mineral Province Report”. Queensland Department of Mines and Energy, 2000.

All three areas are rated as 1 or “High Priority” by the Queensland Department of Mines and Energy.

Approval for these Queensland licences are anticipated to be received over the coming months.

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Northern Territory
Location of uranium projects Hapsburg ELA’s/EPA’s
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Figure 1 : Location of new licence applications. A total of 8 tenements have now been lodged in this prospective part of North-West Queensland. See Figure 2 for detail.

NARELLAN NSW 2567 Email: info@monaromining.com.au

Figure 2: Location of Tenements - detail

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Northern Territory

High resolution airborne magnetic and radiometric surveys of the Fog Bay and Compass Creek tenements are being planned for August-September, 2007. This will involve 3,158 line kilometres of data acquisition. Mobilisation of staff and equipment is expected to commence by the end of July.

The target within the Fog Bay licence area is unconformity controlled vein-type uranium-gold mineralisation. The Welltree Metamorphics is the dominant lithological unit and is intruded by the Wagaite Granite. The overlying Depot Creek Sandstone provides the classic unconformity model. Within the Compass Creek tenement, the lithological succession is Burrell Creek Formation, Mt Bonney Formation and Gerowie Tuff. This succession has been intruded by Princes Springs Granite, Zamu Dolerite and numerous quartz veins. Exploration will be directed at gold-uranium mineralisation at the granite–sediment interface.

Western Australia

Previous exploration in close proximity to these tenement areas have identified uranium mineralisation in pelitic sediments within the Mt James Formation. The Company is targeting gold-uranium mineralisation in the basal conglomerate derived from basement erosion and subsequent secondary enrichment, or direct deposition from hydrothermal cells related to intrusives. The presence of uranium mineralisation nearby to the Company’s tenement areas within the target stratigraphy is regarded as very encouraging.

Image Processing to assess the licence areas, including the potential for uranium bearing calcrete areas has commenced. This will be followed up by site investigations in September-October, 2007.

Elsewhere, the joint venture partners are assessing other uranium opportunities throughout Australia.

Competent Person

The review of exploration activities and results contained in this report in relation to the Australian projects is based on information compiled by Mart Rampe , a Member of the Australasian Institute of Mining and Metallurgy. He is the Executive 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, Executive Director, on (02) 46479566 or Warwick Grigor, Chairman, on (02) 92470077.

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