ORBMINCO LIMITED — Capital/Financing Update 2013

Sep 23, 2013

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24th September 2013

ASX Release, By e-lodgments

Victoria Copper Mine Project Finance

Highlights

• Term sheet for US$10m debt facility received from US lender

 Debt facility fully funds the acquisition of the Victoria Copper Mine and recommissioning costs

Australian-American Mining Corporation Limited (“AusAmerican” or “the company”) is pleased to report that a term sheet for US$10m debt finance has been received from a debt provider, based in Utah, USA.

“The Victoria Copper Mine acquisition, which was announced to the ASX on 9th September 2013, continues to gain momentum ”, Managing Director, Mr Richard Holmes said.

“Since acquiring the right to earn a 50% joint venture interest and management control of the Victoria Mine we have been engaged with a number of parties for nondilutionary project finance”, he continued. “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 US lender is a private lender based in Alpine, Utah USA and has been active in providing asset-backed lending for a number of years. The debt provider has indicated that funds would be made available promptly once due diligence, which is ongoing, concludes. The directors of AusAmerican believe this debt facility is competitive in the current economic climate.

The company is also in advanced discussions with a number of other potential financiers. Discussions will continue until such time that due diligence has concluded to ensure that options remain open and the best available debt package is secured by the company.

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) 9481 0799 Facsimile: (08) 9481 1927

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Please refer to ASX announcement dated 9[th] September 2013 for a detailed overview of the project.

About Australian American Mining Corporation

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

The company’s copper/gold projects are:

• Victoria Mine (option to purchase 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

• Apache Basin (100%) – Arizona

The company’s REE/speciality metals projects:

• 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 99 073 155 781 572 Hay Street, Perth, WA, Australia, 6000 PO Box 1788, West Perth, WA, Australia, 6872 Telephone: (08) 9481 0799 Facsimile: (08) 9481 1927