Entitlement Issue Prospectus

• Non-renounceable entitlement issue of 1 new share for every 6 existing shares
• Issue price of $0.12 per new share to raise up to $2.6 million
• Includes 1 free attaching new option for every 2 new shares subscribed

American Uranium Ltd (ACN 124 792 132) is making a pro-rata non-renounceable entitlement issue of new fully paid ordinary shares in the capital of the Company (New Shares) on the basis of 1 New Share for every six (6) existing Shares held by Eligible Shareholders at the Record Date, at an issue price of $0.12 per New Share, together with one (1) free attaching Option (exercisable at $0.16 and expiring on 30 June 2029) (New Options) for every two (2) New Shares subscribed for and issued. The Offer is not underwritten and will raise up to approximately $2,586,345 (before costs) through the issue of approximately 21,552,877 New Shares and 10,776,438 New Options. All of the New Shares offered under the Offer will rank equally with the Shares on issue at the date of the prospectus. The purpose of the Offer is to raise funds for exploration and development activities, working capital, and the costs of the Offer.