ORBMINCO LIMITED — M&A Activity 2007

Oct 10, 2007

ASX Release

11 October 2007

No. of pages lodged: 1

Company Announcements Office Australian Stock Exchange Limited 4[th] Floor 20 Bridge Street SYDNEY NSW 2000

Level 1, 89 St Georges Tce Perth WA 6000

P +61 8 9415 1715 F +61 8 9481 2200

Proposed Merger with Monaro Mining NL by way of a Scheme of Arrangement

Monaro Mining NL (ASX: MRO) and Uranium King Limited (ASX: UKL) have entered into a Merger Implementation Agreement to combine their respective uranium businesses to form an internationally competitive uranium company.

The proposed merger will deliver to shareholders a well-funded company that will provide benefits including:

• A pipeline of projects from greenfields and advanced exploration through to preproduction

• Geographical diversity of projects in countries that include the USA, Central Asia and Australia

• The increased financial capacity to identify and target project and corporate acquisition opportunities

• Enhanced management and technical capabilities

• Expanded shareholder base with increased market liquidity

The board of directors of Uranium King recommends to Uranium King Shareholders that, in the absence of a superior offer and subject to the Independent Expert confirming the view of the Board of directors of Uranium King that the Scheme is in the best interests of Uranium King Shareholders, that the merger be approved.

Please find attached a market release summarising the terms and conditions of the proposed merger, including a copy of the Merger Implementation Agreement.

For further information on the company visit www.uraniumking.com

Please direct enquiries to: Jim Malone – Director Phone +61 8 9415 1715

Level 1 89 St Georges Terrace Perth WA 6000 GPO Box 2508 Perth WA 6001 P +61 8 9415 1715 F +61 8 9481 2200