🕐16.12.10 - 05:00 Uhr

Australian-American Mining Corporation Limited [ASX: AIW] - AusAmerican raised $
8.5 million to continue drilling in the US



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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 Company�s 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 Company�s 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



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