American Uranium Reports Strong Early Infill Drilling Results at its 9.45Mlb Lo Herma ISR Uranium Project in Wyoming's Powder River Basin Ahead of Q3 Resource Upgrade

Rhea-AI Summary

American Uranium (OTCQB:AMUIF; ASX: AMU) reported early infill drilling results from its 9.45Mlb Lo Herma ISR uranium project in Wyoming’s Powder River Basin. Initial 18 holes show strong mineralization continuity, with 11 holes above cutoff, supporting plans to upgrade Inferred to Indicated resources.

A 55‑hole infill and expansion program is underway within Mine Unit 1 and adjoining mineral rights. With 66 of an approved 121 permitted holes completed, American Uranium targets a Q3 2026 Mineral Resource update and Scoping Study to advance Lo Herma toward ISR development.

Positive

• 11 of 18 early infill drill holes above mineralization cutoff
• 55-hole infill and expansion drilling program underway at Lo Herma
• Approved permit for up to 121 drill holes and ~37,500 meters
• 66 drill holes completed to date at the Lo Herma ISR project
• Planned Q3 2026 Mineral Resource update and Scoping Study timeline

Negative

• None.

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CASPER, Wyo., May 26, 2026 /PRNewswire/ -- American Uranium Ltd. (ASX: AMU; OTCQB: AMUIF) announced early infill drilling results at its 9.45Mlb Lo Herma Uranium ISR project located in Wyoming's Powder River Basin, confirm strong continuity of uranium mineralization. The results are expected to support further conversion of Inferred resources to Indicated in the upcoming Mineral Resource Estimate update. Multiple strong grade thickness intercepts, including 11 of 18 holes intersecting mineralization above cutoff, reinforce the strength of the project ahead of the planned Q3 2026 Scoping Study.

A planned 55 hole program is underway that includes 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. Specific details can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03093606-6A1326906&v=undefined.

"These early infill drilling results provide strong confirmation of mineralization continuity within Mine Unit 1 and demonstrate the effectiveness of our resource upgrade strategy," said Bruce Lane, CEO of American Uranium. "With a high proportion of holes returning mineralization above cut-off and several high-grade thickness intercepts, we have confidence that Inferred material will convert to Indicated ahead of our next Mineral Resource Update. With around 37 more holes still to be reported we are excited about the potential to deliver a larger, higher confidence ISR uranium resource at Lo Herma"

He added that with further infill drilling underway and a step-out program scheduled to commence, American Uranium "remains well positioned to deliver an updated resource and Scoping Study in Q3 2026, advancing Lo Herma toward ISR development in the context of a strengthening uranium market and growing U.S. policy focus on domestic nuclear fuel security."

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-reports-strong-early-infill-drilling-results-at-its-9-45mlb-lo-herma-isr-uranium-project-in-wyomings-powder-river-basin-ahead-of-q3-resource-upgrade-302781745.html

SOURCE American Uranium Ltd.

FAQ

What drilling results did American Uranium (OTCQB: AMUIF) report at the Lo Herma ISR project?

American Uranium reported early infill drilling that confirms strong continuity of uranium mineralization at Lo Herma. According to American Uranium, 11 of the first 18 holes intersected mineralization above cutoff, supporting a planned upgrade of Inferred resources to Indicated in the next resource estimate.

How many drill holes are included in American Uranium’s 2026 infill program at Lo Herma (AMUIF)?

The current Lo Herma program includes up to 55 infill and expansion drill holes. According to American Uranium, this work focuses on Mine Unit 1 and newly secured mineral rights south of Mine Unit 2, targeting both resource growth and improved geological confidence.

What is the permitted drilling capacity at American Uranium’s Lo Herma ISR uranium project?

Lo Herma is covered by an approved drilling permit allowing up to 121 drill holes and about 37,500 meters. According to American Uranium, 66 holes are already completed, and the current 55-hole program makes up the remaining permitted work within the study footprint.

When is American Uranium (AMUIF) planning a resource upgrade and Scoping Study for Lo Herma?

American Uranium plans to deliver an updated Mineral Resource Estimate and a Scoping Study for Lo Herma in Q3 2026. According to the company, ongoing infill and step-out drilling are intended to support a larger, higher-confidence ISR uranium resource for the project.

How large is American Uranium’s Lo Herma ISR uranium resource in Wyoming’s Powder River Basin?

Lo Herma currently hosts a 9.45 million pound ISR uranium resource. According to American Uranium, early infill drilling results and the 55-hole program are expected to support conversion of Inferred material to Indicated and potential resource growth ahead of the Q3 2026 update.

Why is the Lo Herma ISR project important to American Uranium (OTCQB: AMUIF) investors?

Lo Herma is described as American Uranium’s flagship ISR uranium asset in Wyoming, a key U.S. uranium district. According to the company, successful infill drilling, resource upgrades, and the Q3 2026 Scoping Study aim to advance the project toward ISR development amid a strengthening uranium market.