ORBMINCO LIMITED — Capital/Financing Update 2008

Aug 7, 2008

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8 August 2008

ASX ANNOUNCEMENT

WELCOME TO NEW SHAREHOLDERS

Monaro Mining NL (“Monaro”, the “Company” or “MRO”) is pleased to announce that the Scheme of Arrangement will be implemented on 12 August 2008 and your New MRO shares will be issued.

On behalf of my fellow directors, I welcome you as a shareholder in Monaro Mining NL. The process of the merger has taken longer than we had anticipated, with a number of obstacles to overcome, but now we can concentrate on building a serious uranium company with a stronger shareholder base and a more balanced portfolio of projects.

Our Combined Company

Monaro Mining, pre-merger, comprised a company with a spread of projects from highly prospective exploration tenements in one of the premier uranium production locations in the world, the Top End of the Northern Territory, to advanced projects with uranium production history in the Kyrgyz Republic in Central Asia. These projects represented a balance between geological and geopolitical risk. Uranium King, premerger, had an exclusive focus on uranium projects in the USA, offering low geopolitical risk and a sound geological data-base on which to advance that company. Thus each company had projects of merit.

The merged entity brings both portfolios under one roof with combined management skills. The stronger balance sheet and the more extensive shareholding structure makes for a better balanced company with a lower risk profile for pre-merger Monaro shareholders, and more exploration upside for pre-merger Uranium King shareholders.

The moves by Monaro to secure an ADR listing in the USA are particularly relevant to the merged entity. The projects in Nevada and New Mexico are on the doorsteps of investors in the USA. They are tangible, pre-development projects that will offer great affinity to investors in that country. It follows as a logical consequence that we expect strong shareholder support and funding from a capital market many times larger than what we have in Australia. While a listing in the USA is more onerous in terms of reporting standards, all shareholders will benefit from a more detailed disclosure regime. Better disclosure with increased detail should lead to greater confidence and appreciation of the Company.

Monaro’s primary objective is to fast track the path to production, focusing initially on the Apex heap leach project in Nevada, and the Rio Puerco underground mine in New Mexico. Both have considerable merit and promise to elevate the Company to the status of a cash flow positive, profitable uranium producer. The joint venture with Sinosteel Corporation on the Kyrgyz projects enables us to progress along another path to production but without having to split our management and efforts between two competing fronts. This association with Sinosteel is instrumental in reducing our pre-development risk and expenditure. Monaro is committed to providing its shareholders with exposure to quality projects in other world uranium centres. For the past year we have been establishing a base in the Niger Republic, one of the world’s major uranium producing countries. We hope to be able to announce the acquisition of projects in the near future. We have been quietly establishing a strong presence in Bulgaria in anticipation of the re-issue of exploration and production licences covering previously productive ISL uranium fields. We have lodged applications for licences in Estonia that cover ground with exploration results that point to substantial uranium orebodies with molybdenum and vanadium credits.

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Something that has recently achieved greater focus is the oil shale on our licences in Queensland, held in joint venture with Hapsburg Exploration Pty Ltd. While it is early days in respect of the market interest in oil shale in this economic cycle, it must be argued that the very high oil prices have greatly enhanced the outlook for oil shale in this country. Pre-JORC exploration by CRA has identified very extensive oil shale mineralisation. While we do not want to depart from uranium as the primary focus, we believe there might be an opportunity to benefit our shareholders with an enhancement of this project.

We have a very exciting future for Monaro, notwithstanding the chaos in the equity markets caused by the ineptitude in the US banking system. I encourage you to continue with us along the path to building a uranium company to be proud of.

We look forward to your continued support as a shareholder in Monaro Mining NL.

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Warwick Grigor

Chairman

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 a uranium specialist listed on the ASX and Frankfurt, and Monaro American Depositary Receipts are listed for trading in the USA on the OTC Bulletin Board. Following the recent merger with Uranium King Limited, the Company has two 100%-owned pre-development uranium projects in Nevada and New Mexico, USA. Its Central Asian projects, in the Kyrgyz Republic, are subject to a an agreement with Sinosteel Corporation whereby that company can earn up to 60% equity by the completion of feasibility studies. Premium exploration licences are being assessed in the Northern Territory and Queensland, and initiatives are being undertaken in Estonia and Bulgaria. The Company has a strong corporate focus.