ORBMINCO LIMITED — Capital/Financing Update 2013

Apr 21, 2013

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ASX Release

22[nd] April 2013

VTEM Geophysical contract awarded for Arizona VMS project

United States focused explorer Australian-American Mining Corporation Limited (ASX: AIW) (“AusAmerican” or “the company”) is pleased to announce that it has signed a contract with Geotech Ltd (“Geotech”) to undertake a VTEM geophysical survey at the Blue Bell and De Soto VMS projects. Geotech are a Canadian based company and are recognised as one of the world leaders in geophysical surveys.

The purpose of the VTEM survey is to identify anomalies at both Blue Bell and De Soto and the prospective, but until now unexplored Gap area, which runs 5km between the two projects. Of the seven high grade lenses that were mined at Blue Bell, only one outcropped, so the company is hopeful that undiscovered lenses exist in the area of the old mines as well as in the Gap.

The company expects the program to commence in late April / early May. Interpretation and results of the geophysical survey should be available in late May.

The company has just completed its maiden drilling campaign at Blue Bell. A total of approximately 5,000 metres of RC drilling was completed for 26 holes. Assay results from 12 of the holes have been received to date with 11 of the 12 holes returning encouraging mineralisation (See table 1). The company expects the results from the remaining 14 holes to become available in the next 4 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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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
BBRC13021	385,870	3,800,980	1,403	120	-75	195	199	4	0.7	2.2	41.5	1.1	3.2
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	1.4

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.

*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.

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 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 (90c/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

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