Fortbridge Media Release

AusAmerican Mining [ASX: AIW] - Independent NI 43-101 finalised for Rio Puerco uranium project

Australian-American Mining Corporation Limited (ASX: AIW) announces that an Independent NI 43-101 technical report for the company�s Rio Puerco uranium project located in Grants Mineral belt in New Mexico in the United States of America has now been completed.

Highlights:

� Confirms resource of 11.3 million pounds grading 900 ppm using a 300ppm cut-off
� Identifies potential to increase resource
� Confirms potential for In Situ Recovery mining extraction

The report is attached and was prepared by competent persons Erik Ostensoe. P. Geo. and David S. Boyer, CPG.

The report validated the JORC inferred resource of 11.3 million pounds grading 900 ppm using a 300ppm cut-off, outlined potential to increase the resource and favorably reviews preliminary metallurgical work designed to test for the amenability of in-situ recovery of uranium (based on test work carried out by Hazens Laboratories of Denver, Colorado). It also recommends further work to validate historic data and possibly increase the confidence and size of the current inferred resource.

The report also reviews the significant sampling program and geochemistry work that has taken place on the project over the past 6 months and commented that, although this data was still being analysed, it could potentially add significant value and numerous targets to the exploration potential of the project.

The authors concluded that �historic exploration and mining endeavours at the Rio Puerco mine and adjoining mineral claims may have delineated a major uranium resource�.

To view the independent report (97 pages), download the pdf from:

For further information, please contact:

Jim Malone
Executive Chairman
+1 520 907 3657

Denis Geldard
CEO
+61 89325 5568

Media/investor enquiries:

Fortbridge +61 2 9003 0477
Luke Dean +61 414 535 433