American Uranium Expands its Lo Herma ISR Uranium Project in Wyoming's Powder River Basin as Company Secures Strategically Located Uranium Mineral Rights and Stakes Additional Mining Claims

Rhea-AI Summary

American Uranium (OTCQB: AMUIF) secured approximately 1,040 acres of new uranium mineral rights at its Lo Herma ISR project in Wyoming's Powder River Basin and staked 29 BLM lode claims (~490 acres), expanding land adjoining Mine Units 2 and 3.

According to the company, the parcels are expected to feed the next Mineral Resource update, with drilling planned to begin in May and recent capital raises and an entitlement offer to fund work.

Positive

• 1,040 acres of new uranium mineral rights acquired
• Staked 29 BLM lode claims (~490 acres) adjacent to operations
• Drilling scheduled to commence in May to expand resources
• Completed placement and announced entitlement offer to fund drilling

Negative

• New acreage not yet reflected in a published Mineral Resource
• Drilling and resource growth dependent on successful May field results

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CASPER, Wyo., April 17, 2026 /PRNewswire/ -- American Uranium Ltd. (ASX: AMU; OTCQB: AMUIF) announced it has secured approximately 1,040 acres of new mineral rights at the company's Lo Herma ISR Uranium Project located in Wyoming's Powder River Basin. The company expanded its land position at the project with additional uranium mineral rights and the staking of 29 new Bureau of Land Management (BLM) lode mining claims, covering approximately 490 acres.

The Company's new uranium mineral rights are located to the north and immediately south abutting the company's current operations, thus extending control over highly prospective portions of the Lo Herma project. Mineral Rights have been secured under a private lease agreement granting uranium mineral rights, on industry standard terms for Wyoming uranium projects.

"The additional mineral rights and claims consolidate our position immediately adjoining Mine Units 2 and 3 and remove land tenure constraints adjacent to existing resources," said Bruce Lane, Executive Director of American Uranium. "Identified during earlier resource modeling and based on existing data these parcels are expected to contribute to the next Mineral Resource update and support further resource growth as drilling commences in May."

Additional information can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03079821-6A1320855&v=undefined.

The Company recently completed a placement to institutional and sophisticated investors and has announced an entitlement offer for eligible shareholders, providing funding to advance drilling and technical studies at Lo Herma following the resource upgrade.

Lo Herma is American Uranium'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-expands-its-lo-herma-isr-uranium-project-in-wyomings-powder-river-basin-as-company-secures-strategically-located-uranium-mineral-rights-and-stakes-additional-mining-claims-302745923.html

SOURCE American Uranium Ltd.

FAQ

How many acres did American Uranium (AMUIF) secure at Lo Herma on April 17, 2026?

The company secured approximately 1,040 acres of new mineral rights, plus 29 BLM lode claims (~490 acres). According to the company, these parcels adjoin Mine Units 2 and 3 and extend project control.

When will American Uranium (AMUIF) begin drilling at the Lo Herma ISR project?

Drilling is planned to commence in May 2026 to advance resource definition. According to the company, the May program aims to support the next Mineral Resource update and test newly acquired parcels.

What funding has American Uranium (AMUIF) secured to advance Lo Herma drilling?

The company completed a placement to institutional and sophisticated investors and announced an entitlement offer for eligible shareholders. According to the company, proceeds will fund drilling and technical studies at Lo Herma.

How do the new Lo Herma claims affect American Uranium's project position (AMUIF)?

The new mineral rights and claims consolidate land immediately adjoining existing mine units, reducing tenure constraints. According to the company, this improves access to prospective areas identified in earlier resource modeling.

Will the newly acquired Lo Herma parcels be included in a Mineral Resource update for AMUIF?

The company expects the parcels to contribute to the next Mineral Resource update following planned drilling. According to the company, earlier modeling identified these areas as prospective for resource growth.

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

The company cites increasing comparability on contained resource and development readiness to nearby ISR satellite projects. According to the company, Lo Herma aligns with hub-and-spoke ISR frameworks used in the region.