• Drilling of up to 55 holes has commenced
• Program includes infill drilling within Mine Unit 1 and expansion drilling into newly secured adjoining mineral rights south of Mine Unit 2
• Drilling results and expanded hydrogeological and metallurgical work programs are expected to support a further Mineral Resource update and planned Scoping Study targeted for Q3 2026

American Uranium Limited (ASX:AMU) is pleased to advise of the commencement of drilling the remaining 55 drill holes under the approved 121-hole drilling permit at its Lo Herma ISR uranium project in Wyoming's Powder River Basin. The upcoming program includes infill and expansion drilling within existing Mine Units as well as step-out drilling into the newly secured area south of Mine Unit 2. In parallel with drilling, AMU is undertaking more intensive hydrogeological and metallurgical work programs within priority Mine Unit areas to refine development assumptions and support study level inputs. Results from the drilling and associated technical work are expected to inform a planned Mineral Resource Estimate update and Scoping Study targeted for Q3 2026. The Lo Herma Project is covered by an approved drilling permit allowing up to 121 drill holes and approximately 37,500 metres of drilling. To date, 66 holes have been completed. AMU also holds high potential, drill permitted projects in Wyoming's Great Divide Basin and Green Mountain area in addition to highly prospective brownfields conventional uranium/vanadium assets in Utah's Henry Mountains.

The upcoming drilling program and associated technical work are expected to support a planned Mineral Resource Estimate update and Scoping Study targeted for Q3 2026.

The drilling results and expanded hydrogeological and metallurgical work programs are expected to support a further Mineral Resource update and planned Scoping Study targeted for Q3 2026.