ORBMINCO LIMITED — Capital/Financing Update 2013

Oct 20, 2013

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21 October, 2013

ASX Release, By e-lodgement

CAPITAL RAISING AND FINANCE UPDATE

Highlights

• Company to raise $360,000 through a placement of 36 million shares at $0.01, an 11% premium to the last trading price

• Advanced negotiations for $2.5 million traditional convertible note

• US$10m term sheet for debt finance previously announced, discussions with other financiers ongoing

The Directors of Australian-American Mining Corporation Limited (AusAmerican or the Company) are pleased to announce that the Company has agreed to raise $360,000 through a placement of 36,000,000 shares at $0.01 per share, to sophisticated investors. This represents an 11% premium to the last trading price.

The Company is also in advanced negotiations with an investor to raise $2.5 million through a convertible note instrument. As yet the Company has not finalised these negotiations and will advise the market when this transaction is completed.

On 24[th] September the Company announced that a term sheet had been received for a US$10m debt facility from a Utah-based lender. This debt facility would provide AusAmerican with the capital required to bring the Victoria Mine back into production and make the necessary payments to the vendors. The company is also in discussions with a number of other potential financiers. These discussions will continue until such time that due diligence from the Utah-group has concluded, to ensure that options remain open and the best available debt package is secured by the company.

Sincerely,

Richard Holmes Managing Director

Australian American Mining Corporation Ltd ABN 99 073 155 781 PO Box 1788, West Perth, WA, Australia, 6872 Telephone: (08) 9481 0799 Facsimile: (08) 9481 1927

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About Australian American Mining Corporation

AusAmerican Mining is a multi-commodity international exploration and development company led by a proven technical team that is focused on discovering and defining highquality projects featuring strong grades, meaningful size and mining-friendly addresses. All of its projects are currently located in the United States of America (“USA”).

The company’s copper/gold projects are:

• Victoria Copper Mine (option to earn 50%) - Nevada

• Bluebell (option to purchase 100%) - Arizona

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

• San Marcos (100%, Pelican Resources earning up to 100%) - Arizona

The company’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

The company’s rare earth project:

• La Paz - Arizona.

ENDS

For further information, please contact: Richard Holmes Managing Director +61 8 9481 0799 rholmes@ausamerican.com

Australian American Mining Corporation Ltd ABN 99 073 155 781 PO Box 1788, West Perth, WA, Australia, 6872 Telephone: (08) 9481 0799 Facsimile: (08) 9481 1927