• Drilling has commenced at the Lo Herma ISR uranium project
• Program designed to expand and upgrade the 8.571 Mlb Mineral Resource
• Up to 15 drill holes (~6,900m) planned in this phase, targeting continued resource growth

American Uranium Limited (ASX:AMU, OTC:AMUIF) is pleased to announce that resource development drilling has now commenced at the Lo Herma ISR uranium project in Wyoming's Powder River Basin. The drilling marks the start of the Company's 2026 resource expansion and upgrade program, following the successful 2025 drilling campaign which extended known mineralisation over 3 km along trend. The current drilling phase includes up to 15 holes (~6,900m) targeting continued resource growth north of proposed Mine Unit 2. This program follows the completion of 50 step-out drill holes (~15,000m) in December 2025, which successfully identified mineralised extensions expected to contribute to the planned end-Q1 2026 Mineral Resource Estimate update. A subsequent Q2 2026 infill campaign (~56 holes; ~16,000m) will target conversion of Inferred Resources to Indicated and/or Measured classifications in support of mine planning and the Q3 Scoping Study update.

The 2026 resource development program is designed to further increase both the scale and confidence of the Lo Herma uranium resource ahead of an interim Mineral Resource update by the end of March 2026.

The work lays the foundation for the Q2-scheduled infill drilling campaign and the updated Scoping Study in Q3 2026, which will assess Lo Herma's potential to deliver similar economic outcomes to other ISR uranium developments in Wyoming.