ORBMINCO LIMITED — Capital/Financing Update 2013

Mar 17, 2013

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ASX Release 18[th] March 2013

Further Massive Sulphide Drill Intersections at Blue Bell

Highlights

• Blue Bell drilling returns copper/gold/silver mineralisation:

• 9m @ 0.9% Copper Equivalent* (CuEq) (0.8% copper, 0.1g/t gold and 5.3g/t silver) from 195m

• 2m @ 1.0% Copper Equivalent* (CuEq) (0.7% copper, 0.2g/t gold and 10.3g/t silver) from 208m

• 11m @ 0.6% Copper Equivalent* (CuEq) (0.4% copper, 0.1g/t gold and 6.0g/t silver) from 179m

• Mineralisation open at depth and along strike

United States-focused diversified explorer Australian-American Mining Corporation Limited (ASX: AIW) (“AusAmerican” or “the company”) is pleased to announce that the maiden drilling program at the Blue Bell project in Arizona continues to deliver copper/gold/silver massive sulphide intersections.

The latest holes have returned the following intercepts:

Drillhole	From	To	Interval (m)	Cu%	Au g/t	Ag g/t	Zn%	CuEq
BBRC13010	195	204	9	0.8	0.1	5.3	-	0.9
And	208	210	2	0.7	0.2	10.3	-	1.0
BBRC13012	179	190	11	0.4	0.1	6.0	-	0.6

Drill holes BBRC13010 and BBRC13012 complete the cross section which identified high grade mineralisation at depth (see ASX release 5[th] March 2013). The latest holes demonstrate that the VMS mineralisation has continuity from the surface to 300m below ground level (see figure 1). The company has now received assays for 9 drill holes, 8 of which contain significant mineralisation. A summary of results to date can be found in Appendix 1.

Commenting on the latest results of the drilling program, AusAmerican Managing Director Mr Richard Holmes said “It is very pleasing to see that the mineralisation is present from the surface to depths of at least 300m which gives the company confidence in its view that the project has the potential to be mined by open pit methods.”

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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The company expects to finish the drilling program by the end of March/ early April and further assay results are expected within the next two weeks.

Sincerely,

Richard Holmes Managing Director

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Figure 1: Cross section through drill holes BBRC13010, BBRC13011 and BBRC13012

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 results to date

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

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.

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)

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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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:

• Blue Bell (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