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

About this update from American Uranium Limited

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 ...

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