ORBMINCO LIMITED — Capital/Financing Update 2012

Dec 11, 2012

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12[th] December 2012

ASX Release By e-lodgement

Dear Sir / Madam,

Buy back of Convertible Securities

Australian-American Mining Corporation Limited (“AusAmerican” ASX: AIW, OTC.QX: OZAMY) is pleased to announce it has agreed to buy back the remaining $350,000 of convertible securities A & B on issue under the agreement ("Agreement") announced on 29[th] February with the Australian Special Opportunity Fund, LP (“ASOF”), a New York-based institutional investor, managed by The Lind Partners, LLC. The consideration payable for the buyback will be $402,500 and upon completion AusAmerican will have no convertible securities on issue to ASOF.

In order to facilitate the buyback, AusAmerican announces that it has raised $450,000 before costs by placing 15,000,000 shares at 3 cents to exempt investors pursuant to its placement capacity under listing rule 7.1 ("Placement"). The Appendix 3B and cleansing statement in respect of the Placement is provided separately.

AusAmerican would like to thank ASOF for their support over the past ten months, for agreeing to the buyback and forfeiting their right to convert the remaining convertible securities.

Sincerely,

Richard Holmes Managing Director

About Australian American Mining Corporation

AusAmerican is a multi-commodity international exploration company. All of its projects are currently located in the United States of America (“USA”).

AusAmerican’s copper/gold projects are:

• Bluebell (option to purchase 100%) - Arizona

• De Soto (option to purchase 100%) - Arizona

• San Marcos (100%) - Arizona

Australian American Mining Corporation Ltd 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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• Bernard (90%) - Arizona

AusAmerican’s uranium projects are:

• Rio Puerco (100%) - New Mexico

• Grants Ridge JV (earning 65%) - New Mexico

• Kit Carson (100%) - New Mexico

• Northern project (100%) - New Mexico

• Apex/Lowboy (100%) – Nevada

• Lone Star JV (90%) – Texas

• Apache Basin (100%) – Arizona

AusAmerican’s REE/speciality metals projects:

• La Paz - Arizona.

• White Picacho – Arizona

ENDS

Further information contact; Richard Holmes Managing Director +61 8 9481 0799 rholmes@ausamerican.com

Australian American Mining Corporation Ltd 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