American Uranium Advances Wyoming ISR Development with Resource Growth and Confidence Upgrade at Lo Herma

CASPER, Wyo., March 31, 2026 /PRNewswire/ -- At the halfway point of its drilling program, American Uranium Limited (ASX: AMU; OTCQB: AMUIF) today announced an interim Mineral Resource update for its flagship Lo Herma in?situ recovery (ISR) uranium project in Wyoming's Powder River Basin. 66 holes of the 121?hole permitted drill program are completed and the Company has increased the global Lo Herma Mineral Resource by approximately 10% to 9.45 million pounds eU?O?, with 43% now classified as Indicated.

Within the planned Scoping Study footprint across Mine Units 1, 2 and 3, combined resources now total 7 million pounds at 46% Indicated, strengthening the Project's development foundation ahead of a planned Scoping Study targeted for Q3 2026. The remaining 55 infill and expansion holes are scheduled for drilling during Q2 2026. Additional details can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03073877-6A1318623&v=undefined.

Lo Herma is located in Wyoming, the most established ISR uranium jurisdiction in the United States. On a contained?resource and development?readiness basis, the Project is increasingly comparable to ISR satellite projects such as Ur?Energy's Shirley Basin and Uranium Energy Corp's Ludeman, which have been advanced within hub?and?spoke ISR development frameworks.

Bruce Lane, CEO and Executive Director of American Uranium, said: "This interim update reflects meaningful progress in building scale and confidence across Lo Herma's core mine units. With nearly half of the planned Scoping Study resource now classified as Indicated and further drilling planned in Q2, we are positioning Lo Herma for a further resource update and a Scoping Study in Q3 2026 to assess ISR development options, including potential standalone and conceptual hub?and?spoke pathways within Wyoming's established ISR district."

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SOURCE American Uranium Ltd.