ORBMINCO LIMITED — M&A Activity 2008

Jul 23, 2008

ASX Release

24 July 2008

No. of pages lodged: 2

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

103 Abernethy Rd Belmont WA 6104 P +61 8 9277 9782 F +61 8 9277 6818

Dear Sir/Madam,

Court approves Scheme of Arrangement for Uranium King/Monaro Merger

Uranium King Limited ACN 119 187 816 (UKL) is pleased to announce that the Perth Registry of the Federal Court has today approved the Scheme of Arrangement between UKL and its shareholders relating to the proposed merger of UKL and Monaro Mining NL ACN 073 155 781 (MRO).

UKL shareholders voted overwhelmingly in favour of the merger at a shareholders meeting held on Thursday, 12 June 2008, with all votes cast being in favour of the Scheme. MRO shareholders also approved the resolution required for MRO's participation in the merger at a shareholders meeting held on Tuesday, 10 June 2008.

The Scheme will become effective on Friday, 25 July 2008, following the lodgement of a copy of the Court order approving the Scheme of Arrangement with the Australian Securities and Investments Commission. Trading of shares in UKL is currently suspended and will remain suspended following the Effective Date of the Scheme.

The key dates in relation to the Scheme of Arrangement are set out below.

Date	Event
25 July 2008	Effective Date of the Scheme (lodge Court orders with ASIC)
29 July 2008	Commencement of trading on ASX of New MRO Shares to be issued under the Scheme on a deferred settlement basis

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Date	Event
10.00pm on 5 August 2008	Date for determining entitlements under the Scheme (Record Date)
12 August 2008	Implementation of the Scheme (including issue of New MRO Shares to UKL Shareholders) (Implementation Date)
12 August 2008	Last day for dispatch of holding statements for New MRO Shares
13 August 2008	Trading of New MRO Shares to commence on a normal settlement basis
13 August 2008	Issue of Option Consideration to UKL Option holders and simultaneous relinquishment by UKL Option holders of all rights to UKL Options

Yours Sincerely,

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Jim Malone Executive Director

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