ORBMINCO LIMITED — Capital/Financing Update 2013

Feb 24, 2013

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ASX Release 25[th] February 2013

Blue Bell delivers significant Cu/Au/Ag results at depth

Highlights

• Blue Bell drilling delivers deep zones of copper/gold/silver mineralisation:

  • 11m @ 2.3% Copper Equivalent (CuEq) (0.3% copper, 1.6g/t gold, 39.5g/t silver and 1.1% zinc) from 283m*

  • 4m @ 1.5% CuEq (1.0% copper, 0.2g/t gold and 17g/t silver) from 200m

• Deep hole returns high gold and silver values

• Mineralisation open at depth

• All five holes assayed to date have returned zones of mineralisation

• Drill program on-going

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 mineralisation.

The latest holes have returned the following intercepts:

Drillhole	From	To	Interval (m)	Cu%	Au g/t	Ag g/t	Zn%	CuEq
BBRC13007	200	204	4	1.0	0.2	17.0	-	1.5
BBRC13009	283	294	11	0.3	1.6	39.5	1.1	2.3

Drill hole BBRC13009 encountered high grade gold and silver mineralisation with relatively low copper values at ~280m below the surface (see figure 1). This hole was terminated due to drilling difficulties.

Drill hole BBRC13007 returned a narrow intercept of strong copper mineralisation with associated gold and silver. The assays for the upper part of the drill hole are yet to be received and these would cover the projected up dip location of the mineralisation identified in BBRC13009.

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 mineralisation encountered in both these holes consisted mainly of chalcopyrite and minor amounts of bornite.

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Figure 1: Blue Bell cross section showing recent drill intercepts

Drilling Update

As of the time of this announcement, the company has completed 11 holes for a total of 2,300m. Figure 2 shows the location of the drilled holes.

Further assay results will be released to the market as they are progressively received over the next few weeks.

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 2: Drill plan and progress

Commenting on the latest results of the drilling program, AusAmerican Managing Director Mr Richard Holmes said: “The mineralisation identified by drill hole BBRC13009 is particularly important as it demonstrates that low grade copper can have significant gold and silver associated with it. Further, we are encouraged that all five holes assayed have returned zones of mineralisation and that the mineralisation not only appears in relatively shallow zones but now, as demonstrated by these latest results, at depth.”

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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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)

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

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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• 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