• Firm commitments to raise A$2.64 million through a Placement
• Non-renounceable Rights Entitlement Offer planned for eligible AMU shareholders
• Proceeds to fund infill and expansion drilling, hydrogeological and metallurgical programs at Lo Herma

American Uranium Limited (ASX:AMU) is pleased to advise that it has received A$2.64 million (before costs) in binding commitments for a placement of 22,000,000 new fully paid ordinary shares at A$0.12 per share. The placement follows the company's interim Lo Herma Mineral Resource upgrade to 9.45 Mlbs eU3O8 (43% Indicated) with the average resource grade improving from ~630 ppm to 720 ppm eU3O8. The funds raised will be used primarily for further resource expansion and infill drilling at the Lo Herma ISR Uranium Project, continued hydrogeological and metallurgical studies, completion of the Lo Herma ISR Scoping Study, property acquisitions, landholding costs and for general working capital. In addition to the placement, AMU also proposes to offer eligible shareholders the opportunity to participate in a non-renounceable pro-rata entitlement offer to raise up to approximately $2.58 million (before costs) on the basis of one (1) new share for every six (6) shares held at an issue price of $0.12 per share. Entitlement Offer subscribers will receive a 1-for-2 free attaching option exercisable at $0.16 expiring 30 June 2029.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The company has not provided any forward-looking outlook statements in the announcement.