ORBMINCO LIMITED — Capital/Financing Update 2012

Oct 1, 2012

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2 October 2012

ASX Release By e-lodgement

Placement and Share Purchase Plan finalised

Australian-American Mining Corporation Limited (“AusAmerican” or “the company”) has finalised a Share Purchase Plan (“SPP”) and a Placement which has raised $1,578,000 before costs.

The Placement, which was made to sophisticated clients of Peloton Capital and DJ Carmichael, was approved by shareholders at the General Meeting held last Thursday 27[th] September. Both the Placement and SPP were completed at 3 cents. Peloton Capital had agreed to underwrite $1 million of the SPP. The full amount of the Placement and the SPP was taken up.

Funds will be used for exploration primarily at the Bluebell and De Soto VMS gold/copper/silver project in Arizona. The company plans to drill the Bluebell project early in Q1 2013. The company will also continue to develop the New Mexico uranium projects including the recently acquired Grants Ridge, Northern and Kit Carson projects.

The company would like to thank Peloton Capital and DJ Carmichael for their on-going support. The company is now funded to complete the exploration program for the next six months.

Sincerely,

Richard Holmes Managing Director

About Australian American Mining Corporation (“AusAmerican”)

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

The company has recently announced it has signed an option to acquire 100% of the Bluebell and De Soto VMS copper/gold/silver projects in Arizona. For more information on these projects please see the recent announcement to the ASX dated 13[th] August 2012.

Australian American Mining Corporation Ltd ABN 99 073 155 781 Level 6, 5 Mill Street, Perth, WA, Australia, 6000 PO Box 1788, West Perth, WA, Australia, 6872 Telephone: (08) 9481 0799 Facsimile: (08) 9481 1927 Web: www.ausamerican.com

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The company also operates two gold projects being the San Marcos (100%) and Bernard (90%) gold projects which are both located in the state of Arizona.

The company’s uranium projects are as follows;

• 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

The company’s REE project is La Paz which is located in Arizona.

The company’s specialty metal (Lithium, rubidium, niobium and tantalum) project is the White Picacho project which is located in Arizona.

ENDS

For further enquiries please contact;

Richard Holmes Managing Director Australian American Mining Corporation Limited +61 8 9481 0799 rholmes@ausamerican.com

Australian American Mining Corporation Ltd ABN 99 073 155 781 Level 6, 5 Mill Street, Perth, WA, Australia, 6000 PO Box 1788, West Perth, WA, Australia, 6872 Telephone: (08) 9481 0799 Facsimile: (08) 9481 1927 Web: www.ausamerican.com