• Drill rig mobilised to restart drilling at Lo Herma ISR uranium project
• Drilling targeting resource expansion and upgrade north of Mine Unit 2
• Interim Resource Estimate update expected by end of Q1 2026
• Infill drilling at Mine Units 1 and 2 planned for Q2 2026

American Uranium Limited (ASX:AMU, OTC:AMUIF) is pleased to advise that a mud rotary drill rig has mobilised to site to re-commence drilling next week at the Lo Herma ISR uranium project in Wyoming's Powder River Basin. The drilling is targeting an expansion and upgrade of the 8.57Mlb resource. An initial phase of step-out drilling, 50 holes for ~15,000 metres, was successfully completed in December 2025, targeting resource expansion predominantly to the north of both proposed Mine Unit 1 and Mine Unit 2. The results of this initial drilling are expected to increase the project's overall resource base as part of the upcoming mineral resource update at the end of Q1, 2026. The upcoming round of drilling, set to commence next week, is a continuation of the initial resource expansion phase and will include up to 15 holes for ~6,900 metres. The goals include further extension of the mineralised trends to the north and targeted infill drilling for increased resource confidence. A follow-up infill drilling phase of circa 56 holes for ~16,000 metres is planned for Q2, 2026 with the goal of upgrading Inferred Mineral Resources to Indicated or Measured resource categories within Mine Unit 1 and Mine Unit 2, thereby increasing resource confidence ahead of the Scoping Study update in Q3, 2026.

The Scoping Study aims to demonstrate Lo Herma's potential to deliver similar economic potential to ISR uranium mines currently planned or constructed in Wyoming such as Ur-Energy's Shirley Basin project.