ORBMINCO LIMITED — Capital/Financing Update 2013

May 8, 2013

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ASX Release

9[th] May 2013

Arizona VMS project due diligence period extended

United States-focused diversified explorer Australian-American Mining Corporation Limited (ASX: AIW) (“AusAmerican” or “the company”) is pleased to announce that it has extended the due diligence period for the Blue Bell and De Soto projects, from 12 months to 18 months.

AusAmerican has paid the vendor a fee of US$25,000 to extend the due diligence period by 6 months. The company now has until March 2014 to exercise the option and purchase the project, consideration being a total of US$2m payable in four US$500,000 instalments over a 3 year period.

The extension of the due diligence period effectively allows the company an additional 6 month period to pay the first US$500,000 option fee to purchase 100% of the Blue Bell and De Soto copper/gold/silver projects located in Arizona, USA.

AusAmerican Managing Director Richard Holmes commented “this is a great result for the company as it significantly reduces the company’s upfront commitments during these very difficult market conditions. I would like to thank the property owner for his pragmatic approach during negotiations and we look forward to continuing to develop what is shaping up to be a very prospective property”

AusAmerican has recently completed its initial 5,000 metre, 26 hole RC drilling program at Blue Bell. To date results from 17 of these holes have been received and significant mineralisation has occurred in 15 of these holes (see figure 1 and Appendix 1). The company is highly encouraged by these excellent results to date and expects results from the remaining holes in the next few weeks.

Sincerely,

Richard Holmes Managing Director

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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Figure 1: Q1 2013 Blue Bell Drill hole plan

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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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Appendix 1: Drill hole intercepts

Drillhole	Easting	Northing	RL	**Azimuth **	Dip	From	To	Interval(m)	Cu%	Aug/t	Ag g/t	Zn%	CuEq
BBRC13001	385,883	3,800,807	1,354	120	-45	8	17	9	1.8	0.3	19.6	0.0	2.3
including						11	12	1	11.2	0.6	93.2	0.0	13.0
and						21	29	8	0.7	0.1	3.3	0.0	0.8
BBRC13002	385,882	3,800,808	1,354	120	-70	10	11	1	1.6	0.2	11.8	0.0	1.9
and						31	38	7	0.4	0.1	2.3	0.0	0.5
BBRC13003	385,881	3,800,808	1,354	120	-90	14.4	55	40.6	0.7	0.1	5.5	0.0	0.9
including						16.2	20.7	4.5	2.0	0.3	7.0	0.0	2.3
and						31	34	3	1.4	0.3	19.8	0.0	1.9
and						68	77	9	0.3	0.0	1.1	0.0	0.4
BBRC13007	385,720	3,800,760	1,389	160	-45	200	204	4	1.0	0.2	17.0	0.0	1.5
BBRC13008	385,720	3,800,760	1,389	160	-60	No Significant Assays
BBRC13009	385,720	3,800,760	1,389	160	-80	283	294	11	0.3	1.6	39.5	1.1	2.3
BBRC13010	385,720	3,800,760	1,389	90	-65	195	204	9	0.8	0.1	5.3	0.0	0.9
and						208	210	2	0.7	0.2	10.3	0.0	1.0
BBRC13011	385,720	3,800,760	1,389	90	-80	239	256	17	2.1	2.1	38	0.9	4.5
including						245	253	8	3.2	3.4	50	0.8	6.6
and						287	295	8	0.4	0	4.8	0.0	0.5
BBRC13012	385,720	3,800,760	1,389	90	-45	179	190	11	0.4	0.1	6.0	0.0	0.6
BBRC13019	385,870	3,800,980	1,403	120	-45	142	146	4	0.8	0.1	5.3	0.0	0.9
BBRC13020	385,868	3,800,989	1,403	120	-65	No Significant Assays
BBRC13021	385,870	3,800,980	1,403	120	-75	195	199	4	0.7	2.2	41.5	1.1	3.2
BBRC13022	385,863	3,800,940	1,398	185	-70	216	233	17	3.3	1.3	31.2	0	4.6
including						216	225	9	4.5	1.1	43.6	0	6.0
and						240	245	5	0.5	0.1	4.8	0	0.6
BBRC13023	385,870	3,800,980	1,403	150	-45	158	175	17	0.8	0.1	4.6	0	0.9
including						167	175	8	1.3	0.1	6.0	0	1.4
BBRC13024	385,863	3,800,989	1,403	150	-65	192	209	17	1.0	0.2	9.9	0	1.3
including						200	203	3	2.2	0.3	16.3	0	2.7
BBRC13025	385,861	3,800,989	1,403	170	-45	181	190	9	0.6	0.3	8.3	0	0.9
and						201	203	2	0.9	0.5	15.6	0	1.5
and						213	228	15	1.9	0.2	11	0	2.2
including						218	221	3	4.5	0.4	22.6	0	5.1
BBRC13026	385,861	3,800,991	1,403	170	-65	244	247	3	0.4	0.2	7.9	0	0.6
and						252	262	10	0.6	0.2	11.9	0	0.9

Note: intersections calculated above a 0.3% copper cut off. Reported widths are down hole, true widths are currently unknown.

Competent Persons Statement

The information in this document that relates to exploration results is based on information compiled by Richard Holmes, Managing Director, AusAmerican Mining who is a Member of the Australian Institute of Mining and Metallurgy. Mr Holmes is a full-time employee of AusAmerican Mining and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2004 edition of the “Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Holmes consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

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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*Copper Equivalent Calculation

Copper Equivalent (CuEq) represents the total metal value for each metal, multiplied by the conversion factor, summed and expressed as equivalent copper percentage. These results are exploration results and no allowance is made for recovery losses should mining eventually occur. However it is the company’s opinion that the elements considered here have reasonable potential to be recovered as evidenced by production records from previous mining activity at the project and comparable in the region.

Copper Equivalent Formula = Cu% + Au(ppm) x 0.7292 + Ag(ppm) x 0.0146 + Zn% x 0.3

Price Assumptions Cu (US$3/lb), Au (US$1500/oz), Ag (US$30/oz), Zn (US$0.90/lb)

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:

• Bluebell (option to purchase 100%) - Arizona

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

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

• Bernard (90%) - 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.

• White Picacho – Arizona

ENDS

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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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