Australian-American Mining Corporation Limited [ASX: AIW] - AusAmerican raised $8.5 million to continue drilling in the US Australian-American Mining Corporation Limited (ASX: AIW) announces that it has raised $8.5 million to continue the drilling programme at the Companys three brown field uranium projects in Nevada, New Mexico and Texas. Highlights: $5.64 million in a placement to sophisticated investors. $983,000 in the SPP to existing shareholders; and $1,950,000 by way of placement of the SPP shortfall to sophisticated investors. Funds will also be used to fund the drilling programme that is planned to commence in early 2011 to test the Companys exciting and recently discovered White Picacho Lithium, Tantalum and other specialty metals project in Arizona. Please find more details in the attached announcement. For further information, please contact: Jim Malone +61 419 537 714 Investor and Media Enquiries: Fortbridge: +61 2 93310655 Bill Kemmery: +61 400 122 449 Luke Dean: +61 414 535 433 Fortbridge.NET is a specialist web-based service for clients ("Issuer") of Fortbridge Consulting Pty Ltd. DISCLAIMER: The message and attachment issued with this email may contain "forward-looking statements", which are projections that reflect the Issuer`s reasonable beliefs based on information currently available. Fortbridge is a Public Relations consultancy. PRIVACY: You have been regarded as a relevant contact through research. Please consider the environment before printing this document.
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