🕐28.10.10 - 05:54 Uhr

AusAmerican Mining [ASX: AIW] - Quarterly Activities Report, September 2010



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AusAmerican Mining [ASX: AIW] - Quarterly Activities Report, September 2010

Australian-American Mining Corporation Limited (ASX: AIW) reports the following activities occurred in the last quarter ended 30 September 2010.

HIGHLIGHTS:

� Drilling commences at Apex uranium project in Nevada.
� Potentially significant rare earth/rare metals projects discovered in Arizona.
� Permits approved for a drilling programme at Rio Puerco uranium project in New Mexico.
� Successful IPO of Forge Resources Limited (ASX code: FRG).

AIW owns 3 million shares in FRG as a result of sale of its NSW base meal assets.
� $5.5 million to be raised in share placement - 40% of placement taken up by North American institutional investors.
� Up to another $3 million to be raised in Share Purchase Plan to take place in November.

Please find details in the attached announcement.

Further information, please contact:

Jim Malone
+61 419 537 714


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Fortbridge: +61 2 93310655
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Luke Dean: +61 414 535 433



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