ORBMINCO LIMITED — Capital/Financing Update 2011

Aug 8, 2011

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8 August 2011

ASX RELEASE By e-lodgement

CANADIAN LISTING UPDATE

KEY POINTS

• Application for TSX Venture Exchange (the “TSX-V”) listing has been lodged.

• As a result of TSX-V listing application, the Company will seek shareholder approval to consolidate share capital, make changes to the Constitution and adopt an Employee Share Option Plan to comply with TSX-V listing rules.

The Directors of Australian-American Mining Corporation Limited (“AusAmerican” or the “Company”) wish to make the following announcement to the Australian Securities Exchange and to the Company’s shareholders (“Shareholders”).

Canadian Listing

Earlier this year, the Company announced the intention to apply to have its ordinary shares (the “Shares”) listed for trading on the Toronto Stock Exchange (the “TSX”). With the decline in the market capitalisation of the Company resultant from the downturn in the uranium/nuclear market, it was later considered that a TSX-V listing was more appropriate.

The Directors of the Company, whilst maintaining their ambition to eventually be listed on the TSX main board, consider that it is still in the best interest of the Company and the Shareholders to list on the TSX-V and an application to the TSX-V has been made. We are pursuing this listing for the following reasons:

1. Size of market - The TSX is the largest market in the world for mining stocks in terms of dollars invested and number of companies.

2. Proximity of projects - AusAmerican’s resource projects are located 100% in North America which we believe will assist the investors in understanding the projects better; and

3. Valuation - TSX valuation per Enterprise value per pound of JORC /43-101 pound of U3O8 (EV/lb) for uranium junior exploration/development companies is currently between $2.50 and $3 per pound. ASX EV/lb valuation is lower than the TSX’s and AIW’s current EV/lb is less than $0.50 per lb.

Australian-American Mining Corporation Limited ABN 99 073 155 781 572 Hay Street, Perth, WA, Australia, 6000 PO Box 1788, West Perth, WA, Australia, 6872

Telephone: (08) 9325 5568 Facsimile: (08) 9325 5574

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Notice of Meeting to be despatched soon to Shareholders

As a result of the Company seeking to list on the TSX-V, a notice of meeting will soon be sent out to all Shareholders requesting the support of a number of resolutions.

Resolution 1 seeks Shareholder approval for the Company to undertake the consolidation of its issued and outstanding Shares and options on issue on a 1 for 5 basis (the “Consolidation”).

Resolution 2 seeks Shareholder approval to amend the Company’s Constitution so that all directors of the Company are required to be re-elected at the Annual General Meeting of the Company each year. The effect of this amendment is that Shareholders will have the opportunity to re-elect the Directors of the Company at each Annual General Meeting.

Resolution 3 seeks Shareholder approval for the adoption of an Employee Share Option Plan (the “ESOP”) that complies with TSX-V regulations.

The Company has been advised by the TSX-V that its successful listing on the TSX-V will be conditional upon these three resolutions being successfully approved by Shareholders and the satisfaction by the Company of other standard TSX-V listing conditions

Rationale for the Share Consolidation

The TSX-V may refuse an application for listing if in its opinion, a company’s capital structure appears to be excessively dilutive or otherwise imbalanced. In particular, the TSX-V does not support the listing of companies where the value of the listed shares is below CDN$0.05.

In an effort to ensure that the capital structure of the Company complies with TSX-V requirements, the Company has determined to consolidate the existing Shares on a 1 for 5 basis. This Consolidation is expected to ensure that the effective issue price of all shares of the Company is greater than CDN$0.05 per Share.

The result of the Consolidation is that each Shareholder’s securityholding will be reduced by five times its current level. Each Shareholder’s proportional interest in the Company’s share capital will remain unchanged as a result of the Consolidation. Any fractional entitlements of Securityholders as a consequence of the Consolidation will be rounded up.

Full details of the Consolidation will be contained in the Notice of Meeting to be despatched soon to Shareholders.

Australian-American Mining Corporation Limited ABN 99 073 155 781 572 Hay Street, Perth, WA, Australia, 6000 PO Box 1788, West Perth, WA, Australia, 6872

Telephone: (08) 9325 5568 Facsimile: (08) 9325 5574

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Rationale for Amendment to Constitution

Under the TSX-V listing rules, the TSX-V may refuse an application for listing if in its opinion a company’s constitution does not provide for annual re-election of all directors. The Company expects that the proposed amendment will allow the Constitution to comply with the TSX-V's requirements.

Full details of the Amendment to the Constitution will be contained in the Notice of Meeting to be despatched soon to Shareholders.

Rationale for Adoption of Employee Share option Plan (ESOP)

The TSX-V requires that any stock option plan for the Company be compliant with TSX-V requirements. The Company seeks approval for the ESOP proposed so that it will satisfy the TSX-V requirements regarding option plans. The Company expects that the proposed ESOP will comply with the TSX-V's requirements.

Full details of the ESOP will be contained in the Notice of Meeting to be despatched soon to Shareholders.

Regards,

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Jim Malone Executive Chairman

Further information

Please contact Jim Malone +61 419 537 714 or jim.malone@iinet.net.au

Investor and Media Enquiries: Fortbridge- Bill Kemmery on +61 2 93310655 or +61 400 122 449.

North American Investor Relations Manager: Peter Barnes on +1 646 269 3073.

Australian-American Mining Corporation Limited ABN 99 073 155 781 572 Hay Street, Perth, WA, Australia, 6000 PO Box 1788, West Perth, WA, Australia, 6872

Telephone: (08) 9325 5568 Facsimile: (08) 9325 5574

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