American Uranium Limited · ASX:AMU
American Uranium — RIU Uranium Investment Day (September 2025)
32 slides from American Uranium's conference presentation, Sep 11, 2025
Slide 1: American Uranium for American Supply
American Uranium For personal use only American Uranium for American Supply Strategically positioned in Wyoming, leveraging in-situ recovery (ISR) to strengthen America’s uranium independence September 2025 ASX
Slide 2: Disclaimer
Disclaimer The information presented to you by American Uranium Limited in this presentation and any related documents (together, Materials) has been prepared for information purposes by American Uranium Limited (Company). The Materials do not contain all of the information required in a prospectus,
Slide 3: Highlights
Highlights Lo Herma is one of only a few independent, near-term, low-cost, American ISR uranium projects For personal use only ”Positioned to deliver value from America’s nuclear revival and drive for uranium supply independence” ▪ 100% owned ISR uranium assets in Wyoming ▪ Lo Herma MRE: 8.57Mlbs U₃
Slide 4: Lo Herma Interim Scoping Study Outcomes
Lo Herma Interim Scoping Study Outcomes For personal use only “Confirms potential for competitive, low-cost, ISR uranium operation” ▪ Interim study conducted to guide next drilling phase and support investment case ▪ Both central processing plant (CPP) and satellite operation (Satellite) options pro
Slide 5: American Uranium Project Strategy
American Uranium Project Strategy 1st Priority For personal use only Lo Herma GDB/Thor + Green Mtn Henry Mtns Wyoming, Powder River Basin Utah - Colorado Plateau Wyoming, Great Divide Basin 13,500 acres 34,000 acres 4,000 acres Brown Fields Brown Fields Brown Fields Early Development Intermediate Ea
Slide 6: Active U.S. Uranium Explorer Since 2019
Active U.S. Uranium Explorer Since 2019 Brownfield Project Acquisition and Evaluation – Known Commercial Geology and Metallurgy For personal use only “Optimising Project Portfolio for Development Scale and Discovery Cost” 2019 - 2021 Henry Mountains Utah 2021 - 2023 Great Divide Basin & Green Mounta
Slide 7: Corporate Snapshot
Corporate Snapshot American Uranium is focused on defining and developing economic ISR uranium resources as part of the U.S. domestic uranium mining revival For personal use only CAPITAL STRUCTURE (9 September 2025) DIRECTOR’S INTEREST (9 September 2025) ASX Code AMU Bruce Lane 0.80% 855,369 Shares
Slide 8: Policy & Nuclear Energy Demand
For personal use only Policy & Nuclear Energy Demand 8 8
Slide 9: Why Uranium, Why Now?
Why Uranium, Why Now? Presidential Actions 20 Jan 2025 - Declaring A National Energy Emergency For personal use only Executive Orders, Presidential Memorandums and AI Action Plan 23 May 2025 - President Donald J. Trump Reinvigorates the Nuclear Industrial Base 30 June 2025 - Simplifying the Funding
Slide 10: U.S. Energy Policy Shift
U.S. Energy Policy Shift For personal use only The Secretary of Energy is authorised to support the establishment of nuclear industry consortia by ensuring offtake for newly established domestic fuel supply across milling, conversion/deconversion, enrichment, fabrication, and recycling and reprocess
Slide 11: ERCOT Texas Electricity Demand Projections
ERCOT Texas Electricity Demand Projections ERCOT projects large Increases For personal use only in Texas power demand in the coming years driven by growth in Data Centres. Texas accounts for ~13% of total U.S. power consumption and ~17% of US data centre power demand. Source: Carboncredits.com Note:
Slide 12: Projected U.S. Uranium Demand
Projected U.S. Uranium Demand Current Demand and Projected 2035 Demand versus Production (millions of pounds U₃O₈ p.a.) For personal use only ▪ Current reactor fleet 67 Mlbs 1 Mlbs of 94-gigawatt scale Future by 2035 reactors consume ~50 Mlbs uranium p.a. 17 Mlbs ▪ U.S. Liftoff Report commits to Tri
Slide 13: Wyoming Projects
For personal use only Wyoming Projects
Slide 14: Wyoming ISR Uranium Projects
Wyoming ISR Uranium Projects For personal use only
Slide 15: Wyoming Powder River Basin Lo Herma Project
Wyoming Powder River Basin Lo Herma Project For personal use only
Slide 16: Wyoming Great Divide Basin and Green Mountain
Wyoming Great Divide Basin and Green Mountain For personal use only
Slide 17: Lo Herma ISR Uranium Project
For personal use only Lo Herma ISR Uranium Project
Slide 18: Lo Herma Project: Location, Location, Location
Lo Herma Project Location, Location, Location: The Best Neighbourhood For personal use only ▪ Located in Wyoming’s Powder River Uranium Basin, the most significant uranium production district in the U.S. ▪ Wyoming is home to 7 permitted (2 operating & 3 in construction or restarting) ISR uranium min
Slide 19: Lo Herma Project: 100%-owned In-Situ Recovery Uranium Project
Lo Herma Project 100%-owned In-Situ Recovery Uranium Project (13,500 acres) For personal use only ▪ Large historical data set now verified and expanded through two seasons of drilling - current 8.57 Mlb I&I JORC resource (32% Indicated) with 6-11 Mlb exploration target ▪ 960 current & historical dri
Slide 20: Wyoming ISR Project Economics
Wyoming ISR Project Economics For personal use only MI & Inferred EXPLORATION INITIAL U3O8 PRICE NPV PROJECT1 STUDY CAPEX IRR OWNER RESOURCE TARGET LEVEL (US$) ASSUMPTION (Pre-Tax) (Pre-Tax) (lbs U3O8) (lbs U3O8) (US$) (US$) DEWEY BURDOCK PEA 17,834,771 _ $31.7M $86/lb NPV8 $181M 39% Central Process
Slide 21: JORC Resources & Exploration Targets
JORC Resources & Exploration Targets TONNES AVERAGE GRADE CONTAINED U3O8 MINERAL RESOURCE ESTIMATES (MRE)* (MILLIONS) (PPM U3O8) (MILLION POUNDS) For personal use only LO HERMA (Indicated & Inferred MRE) 6.21 630 8.57 (incl. 2.78 Indicated; 32%) GREAT DIVIDE BASIN (Inferred MRE) 1.32 570 1.66 WYOMIN
Slide 22: Lo Herma Drilling Program 2025
Lo Herma Drilling Program 2025 ▪ Drilling permit approved by BLM; For personal use only final Wyoming state approval expected September 2025 ▪ Top-tier Wyoming drilling services providers contracted with mobilisation due Q4 CY2025 ▪ Drilling aimed at growing Mineral Resource Estimate (MRE) and upgra
Slide 23: Mine Development Plan
Mine Development Plan Proximate Infrastructure For personal use only
Slide 24: Lo Herma Flowsheet & Estimated Timetable
Lo Herma Flowsheet & Estimated Timetable For personal use only
Slide 25: Lo Herma Goals & Deliverables
Lo Herma Goals & Deliverables For personal use only ▪ Drilling in Q4 CY2025 to grow Lo Herma’s Inferred and Indicated Resources ▪ Additional metallurgical and hydrogeological studies ▪ Resource update end CY2025 / early CY2026 ▪ Scoping Study update CY2026 ▪ Permitting work incl. environmental monit
Slide 26: Valuation: Peers and Recent Transactions
For personal use only Valuation Peers and Recent Transactions
Slide 27: Premiere American & Nuclear Fuels Merger
Premiere American & Nuclear Fuels Merger ▪ Premiere American Uranium (TSXV: For personal use only PUR) acquires Nuclear Fuels Inc. (CSE: NF) ▪ All-stock deal valued at approximately US$31m (C$42m) ▪ Nuclear Fuels' primary uranium exploration target is at its Kaycee Project, est. at 11.5 - 30 Mlbs U₃
Slide 28: US$175M Paid By UEC For Rio Assets
US$175M Paid By UEC For Rio Assets For personal use only ▪ US$175m paid ▪ 175Mlbs U₃O₈ of historical resources of which some likely ISR amenable ▪ Sweetwater rehabilitated mill site ▪ Plan to develop Hub-and-Spoke ISR production operation based around the Sweetwater mill ▪ AMU projects strategically
Slide 29: US$22.5M For Pine Ridge
US$22.5M For Pine Ridge ▪ Snow Lake Energy (NASDAQ: LITM) 50/50 JV with Global Uranium & Enrichment For personal use only (ASX: GUE) ▪ Adjoins Lo Herma northern boundary along trend ▪ Consideration paid of US$22.5m + 5% Net Smelter Royalty ▪ Implied valuation US$0.44–0.92/lb of exploration target (m
Slide 30: Peer Analysis – US Uranium Explorers
Peer Analysis – US Uranium Explorers For personal use only $80 | 20 TOTAL COMPLIANT Mlbs U3O8 $70 $62M Resource No Resource 18 $60 23 Mlbs 16 Market Cap CAD$M1 U 3 O8 14 $50 12 No Compliant Resources No Compliant Resources $40 10 8 $30 10 Mlbs $31M U 3 O8 6 $20 $18M 4 $12M US$9M 2 $10 1 Market capit
Slide 31: For more information, please contact
For more information, please contact: For personal use only Bruce Lane CEO info@americanuranium.com.au Jane Morgan Investor & Media Relations Manager jm@janemorganmanagement.com.au americanuranium.com.au
Slide 32: Sources & References
Sources & References References, Slide 20 MINERAL RESOURCES (Lbs/U3O8) STUDY LEVEL PROJECT OWNER TICKER SOURCE (year) Measured Indicated Inferred For personal use only NASDAQ: EU 5,419,779 tons @ 1,968,443 tons @ 645,546 tons @ 16 January, 2025. S-K 1300 TRS, Dewey Burdock Uranium ISR Project DEWEY
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