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

Rhea-AI Summary

American Uranium (OTCQB: AMUIF) has started a drilling program at the Lo Herma ISR uranium project in Wyoming's Powder River Basin, targeting up to 55 additional holes of infill and expansion drilling.

The program follows a 2025–26 campaign and operates under an approved permit for 121 holes and ~37,500 meters; a Q3 2026 Resource Update and Scoping Study are planned.

Positive

• Drilling program launched targeting up to 55 infill and expansion holes
• Approved permit covers 121 holes and ~37,500 meters of drilling
• Planned Q3 2026 Resource Update and Scoping Study to incorporate results

Negative

• No new quantified resource figures disclosed with this drilling commencement

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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.

View original content:https://www.prnewswire.com/news-releases/american-uranium-commences-drilling-at-its-lo-herma-isr-uranium-project-in-wyomings-powder-river-basin-302765022.html

SOURCE American Uranium Ltd.

FAQ

What drilling program did American Uranium (AMUIF) start at Lo Herma on May 7, 2026?

They started a program of up to 55 additional holes for infill and expansion drilling. According to the company, these holes target Mine Unit 1 infill and expansion into newly secured adjoining mineral rights south of Mine Unit 2.

How many total drill holes and metres does the Lo Herma permit allow for AMUIF?

The project permit allows up to 121 drill holes and approximately 37,500 metres of drilling. According to the company, 66 holes have been completed to date, leaving up to 55 holes in the current program.

When will AMUIF report an updated resource or study for Lo Herma?

American Uranium plans a Q3 2026 Resource Update and Scoping Study incorporating this program's results. According to the company, the drilling aims to expand and upgrade resources and support technical de-risking ahead of that update.

What is the objective of the Lo Herma 2026 drilling for AMUIF shareholders?

The objective is to expand and upgrade the project's resource base and increase geological confidence within the study footprint. According to the company, targeted technical work will also help de-risk the project before Q3 2026 milestones.

How does Lo Herma compare to nearby ISR projects mentioned by AMUIF?

The company says Lo Herma is increasingly comparable on contained-resource and development-readiness grounds to nearby ISR satellite projects. According to the company, comparisons cite projects such as Shirley Basin and Ludeman within hub-and-spoke ISR frameworks.