• Mineral Resource at Lo Herma project increased to 9.45 Mlbs, with 43% Indicated
• Resources within planned Scoping Study footprint now 7.00 Mlbs at 46% Indicated
• Successful drilling campaign and hydrogeology tests validate ISR potential

American Uranium (ASX: AMU) delivered an exceptional March quarter, making strong progress across every aspect of its flagship Lo Herma ISR uranium project in Wyoming. The Company grew its uranium resources to 9.45 million pounds, lifted confidence levels across its key mine areas, confirmed favourable ISR hydrogeology, expanded its land position, and successfully raised capital to fund the next phase of drilling and studies. The interim Mineral Resource Estimate (MRE) update increased the total resource to 9.45 Mlbs, with 43% now in the Indicated category. Resources within the planned Scoping Study footprint (Mine Units 1-3) stand at 7.00 Mlbs at 46% Indicated. The Company completed 16 drill holes targeting resource growth north of proposed Mine Unit 2, with a further 55 infill and expansion holes planned for Q2 2026. Hydrogeological tests confirmed aquifer transmissivity and productivity consistent with other operating ISR mines in the region, validating the project's ISR potential. AMU also secured an additional 1,040 acres of new uranium mineral rights and staked 29 new federal mining claims, strategically expanding its land position. With ongoing drilling and a Scoping Study targeted for Q3 2026, AMU is rapidly building momentum as a near-term U.S. uranium development story.

AMU is targeting a Mineral Resource Estimate update and Scoping Study in Q3 2026, incorporating the results of the upcoming drilling and technical programs. The Company aims to upgrade Inferred Mineral Resources to Indicated or Measured categories within Mine Units 1 and 2, further increasing resource confidence ahead of the Scoping Study.