ORBMINCO LIMITED - Capital/Financing Update 2008

Suite 705, Level 7, St Martins Tower 31 Market Street, Sydney NSW 2000 PO Box 1178, Queen Victoria Building NSW 1230 T +61 2 9264 7344 F +61 2 9264 8933 www.monaromining.com.au

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ABN 99 073 155 781
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25 March 2008

ASX ANNOUNCEMENT

UPDATE ON SHEKAFTER URANIUM MINES, KYRGYZ REPUBLIC

Monaro Mining NL (“Monaro” or “the Company”) is pleased to provide investors and the Australian Securities Exchange with an update of our announcement made on 18 March 2008. An explanation of the terminology used in the announcement (that is, the use of eU) has now been included as an Appendix. The amended Announcement is attached.

The Company is pleased to provide an opportunity to listen to an audio broadcast featuring a discussion of this announcement with Mr. Mart Rampe, Managing Director.

To listen , simply click on the link below:

http://www.brr.com.au/event/43930

The presentation is also available on our company website: www.monaromining.com.au or at www.brr.com, where the broadcast will also be archived.

Mart Rampe Managing Director

FURTHER INFORMATION

For further information please contact Mart Rampe, Managing Director, on +61 2 4647 9566 or Warwick Grigor, Chairman, on +61 2 92470077

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, with some of these holding potential for gold as well. 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 AMEX ADR listing in the USA.

Suite 705, Level 7, St Martins Tower 31 Market Street, Sydney NSW 2000 PO Box 1178, Queen Victoria Building NSW 1230 T +61 2 9264 7344 F +61 2 9264 8933 www.monaromining.com.au

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ABN 99 073 155 781
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25[t h] March 2008

ASX ANNOUNCEMENT

POSITIVE RESULTS FROM THE SHEKAFTER URANIUM MINES, KYRGYZ REPUBLIC Highlights

Extensive workings and uranium mineralization uncovered at the Shekafter and Shekafter East Uranium mines
Preliminary sampling yields values of between 800 and 1500ppmeU
in underground workings
Detailed mapping, surveying and sampling to be accelerated on project ahead of drilling program

Monaro Mining NL (“Monaro” or “the Company”) is pleased to advise that recent investigations at the Shekafter and Shekafter East mines have revealed encouraging signs of uranium mineralisation. The prospect is located within the Company’s Sumsar licence (MPL30), which is located in the western portion of the Kyrgyz Republic (Figures 1 and 2). This prospect is represented by numerous shafts and adits as well as mineralised outcrops associated with a carbonate horizon that occupies many square kilometres of area. Limited records indicate that these shafts and adits were opened up during the 1950’s by Soviet geological expeditions. The available historical data indicates that the average grade for some of these mine workings ranged between 0.077%U and 0.165%U and that the ore occurred in some 20 ore lenses with an average thickness of approximately 0.65 metres. These ore lenses apparently occupied only one stratigraphic level.

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Figure 1: Regional location map of the Sumsar Licence

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Figure 2: Sumsar location map showing the main uranium mineral prospects

The Company’s Bishkek team inspected the mine workings in detail at Shekafter and Shekafter East for the first time over the last few weeks. At the Shekafter East Prospect, adits along the eastern side of the Taldisai Valley were inspected where approximately 12 adit entrances spaced at 25 to 50m apart were recorded. These are not exploration adits as first thought as they opened out to several stopes mined on three levels. In addition, the underground workings included shafts up to 5m, raises as well as two ore passes equipped with tracks. The approximate scale of the mined out lenses are in the 10’s of metres and appear to be controlled by local fractures and redox conditions. Preliminary estimates, based on surveying, indicates that approximately 35,000t of ore was mined, equating to approximately 250 to 300t of U metal. The attached photos show the remnants of the mineralised pods as well as curite/carnotite mineralisation exposed along fracture zones.

A preliminary survey of the workings including geological mapping and radiometric surveying was completed in one area (Figure 3). High grade values from 800 to 1500ppmeU were registered in the stopes, mostly associated with fine grained grey pitchblende or curite replacing clasts in oolitic bands (see Appendix 1 for explanation of sampling data results).

On a regional basis, the area of the prospective horizon appears to be very extensive. Reference to Figure 4 indicates that this horizon (see pink line in cross-section) occurs over an east-west section well over 4 km in length. That this horizon is extensively mineralised is evidenced by a number of shafts and uranium mine tailings within the Shekafter village area (Figure 5). The Company’s investigations here revealed that only one shaft was accessible. This shaft was filled with water to a depth of 23m below ground level but is reported to be around 70m deep, thus of the right depth to intersect the mineralised horizon.

The next stage of work will entail detailed mapping, surveying and sampling of the underground workings and planning for a significant drilling campaign. This work is expected to commence in the next few weeks.

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