American Uranium Reports Completed Drilling Strengthens Lo Herma Uranium Resource Upgrade for Upcoming Scoping Study

Rhea-AI Summary

American Uranium (ASX: AMU, OTCQB: AMUIF) reported completion of resource drilling at its flagship Lo Herma ISR uranium project in Wyoming’s Powder River Basin, finishing 50 mud rotary drill holes totalling about 12,757 meters (41,855 feet).

The program, following a prior 66-hole campaign that supported an interim 9.45 Mlb U3O8 resource in March, was designed to upgrade Inferred to Indicated resources in proposed Mine Unit 1 and expand resources south of Mine Unit 2. According to American Uranium, results are expected to underpin an updated Mineral Resource Estimate and strengthen the planned Q3 Scoping Study for ISR development.

Positive

• 50-hole, 12,757 m drilling program completed at Lo Herma to support resource upgrade
• Interim Lo Herma resource of 9.45 Mlb U3O8 from prior 66-hole campaign
• Drilling results expected to support Q3 Scoping Study and Mineral Resource Estimate update

Negative

• None.

News Explained

Drilling is complete, while the resource estimate update and Q3 scoping study remain upcoming rather than completed.

The July 13, 2026 release reports that American Uranium Limited has completed resource drilling at Lo Herma, making the drilling phase itself a completed project milestone.

The Mineral Resource Estimate update and Q3 Scoping Study remain upcoming steps, so the immediate change is completed project work rather than a completed resource upgrade or development study.

The program used infill drilling in proposed Mine Unit 1 to convert Inferred resources to Indicated classification and step-out drilling south of proposed Mine Unit 2 to expand resources along interpreted redox trends.

The headline describes the drilling as strengthening a resource upgrade, but the release reports completed drilling and says its results are expected to support the future resource update and planned scoping study, rather than reporting either deliverable as complete.

The completed phase comprised the final 32 mud rotary holes within a 50-hole program totaling approximately 12,757 meters, and the release says it builds on a prior 66-hole campaign and the March interim resource of 9.45Mlb U3O8.

The next named milestones are the Mineral Resource Estimate update and the planned Q3 Scoping Study, both positioned after the completed drilling.

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CASPER, Wyo., July 13, 2026 /PRNewswire/ -- American Uranium Limited (ASX: AMU, OTCQB: AMUIF) announced that resource drilling at its Lo Herma ISR uranium project in Wyoming, is now completed with the final 32 mud rotary drill holes for approximately 12,757 meters (41,855 feet) across a total of 50 drill holes. The program was designed to convert Inferred resources to Indicated classification within proposed Mine Unit 1 and to expand resources south of proposed Mine Unit 2.

"This drilling builds on the successful 66-hole campaign and interim resource of 9.45Mlb U₃O₈ we reported in March," said Bruce Lane, CEO of American Uranium. He added that the drilling results have achieved the key objectives of the program. Additional details are here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03109814-6A1333300&v=undefined.

Lane noted that the results are expected to support the company's upcoming Mineral Resource Estimate update and continued advancement of Lo Herma toward ISR development. "This program, which commenced in early May of this year, was focused on increasing resource confidence within Mine Unit 1 through infill drilling while expanding the resource base in Mind Unit 2 through step-out drilling along interpreted redox trends," he explained. In addition, the company believes the results of this program are expected to increase resource confidence in Lo Herma's Mineral Resource Estimate and the robustness of the planned Q3 Scoping Study.

The Lo Herma ISR uranium project is the company's flagship asset, located in Wyoming's Powder River Basin. 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 Luderman, 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-reports-completed-drilling-strengthens-lo-herma-uranium-resource-upgrade-for-upcoming-scoping-study-302823387.html

SOURCE American Uranium Ltd.

FAQ

What did American Uranium (OTCQB: AMUIF) announce about Lo Herma on July 13, 2026?

American Uranium announced completion of resource drilling at its Lo Herma ISR uranium project. According to American Uranium, 50 mud rotary drill holes were finished to support a Mineral Resource Estimate update and the planned Q3 Scoping Study for ISR development at the flagship project.

How many drill holes and meters were completed at American Uranium’s Lo Herma project (AMUIF)?

American Uranium completed 50 mud rotary drill holes totalling about 12,757 meters (41,855 feet) at Lo Herma. According to American Uranium, the final phase comprised 32 holes and was aimed at upgrading resource classification and expanding the resource base in key mine units.

What is the current interim uranium resource at Lo Herma for American Uranium (AMUIF)?

Lo Herma’s interim Mineral Resource was reported at 9.45 million pounds U3O8 in March. According to American Uranium, this figure was based on a prior 66-hole drilling campaign, and the latest 50-hole program is expected to support a further Mineral Resource Estimate update.

How will the new Lo Herma drilling results affect American Uranium’s upcoming Scoping Study?

The new drilling results are expected to increase resource confidence and strengthen the planned Q3 Scoping Study. According to American Uranium, the program focused on converting Inferred to Indicated resources in Mine Unit 1 and expanding the resource base around proposed Mine Unit 2.

Where is American Uranium’s Lo Herma ISR project located and how is AMUIF positioning it?

Lo Herma is in Wyoming’s Powder River Basin and is American Uranium’s flagship ISR uranium asset. According to American Uranium, on contained-resource and development-readiness measures it is increasingly comparable to nearby ISR satellite projects advanced within hub-and-spoke development frameworks.

What were the main objectives of American Uranium’s latest Lo Herma drilling campaign (AMUIF)?

The campaign aimed to upgrade Inferred to Indicated resources in proposed Mine Unit 1 and extend resources south of Mine Unit 2. According to American Uranium, infill and step-out drilling followed interpreted redox trends to enhance Lo Herma’s Mineral Resource confidence and ISR development planning.