American Uranium Commences Drilling at its Lo Herma ISR Uranium Project in Wyoming's Powder River Basin

CASPER, Wyo., May 7, 2026 /PRNewswire/ -- American Uranium Ltd. (ASX: AMU; OTCQB: AMUIF) announced it has started drilling at its Lo Herma Uranium ISR project located in Wyoming's Powder River Basin. The program underway will include drilling of up to 55 holes with infill drilling within Mine Unit 1 and expansion drilling into highly prospective areas within newly secured adjoining mineral rights south of Mine Unit 2.

This drilling program is expected to expand and upgrade resources at the project while advancing targeted technical work to further de-risk the project ahead of a planned Q3 2026 Resource Update and Scoping Study," said Bruce Lane, American Uranium Executive Director. He noted that this drilling program follows the successful 2025-26 drilling campaign that resulted in an interim Mineral Resource upgrade. More information can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03087510-6A1324470&v=undefined.

Lane noted that the Lo Herma Project is covered by an approved drilling permit allowing up to 121 drill holes and approximately 37,500 meters of drilling. "To date, 66 holes have been completed and this current program comprises the remaining 55 in fill and expansion holes, targeting both resource growth and improved geological confidence within the planned study footprint."

The Lo Herma ISR uranium project is AMU's flagship asset, located in Wyoming, the most established ISR uranium jurisdiction in the U.S. On a contained-resource and development-readiness basis, the Project is increasingly comparable to ISR satellite projects in the area such as Ur-Energy's Shirley Basin and Uranium Energy Corp.'s Ludeman, which have been advanced within hub-and-spoke ISR frameworks. The company also holds additional highly prospective ISR assets in Wyoming's Great Divide Basin and brownfields conventional uranium/vanadium assets in Utah's Henry Mountains.

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SOURCE American Uranium Ltd.