Hydrogeological Testing Underway at Lo Herma

American Uranium Limited (ASX:AMU, OTC:AMUIF) (American Uranium, AMU or the Company) is pleased to advise that hydrogeological testing at its Lo Herma ISR uranium project in Wyoming’s Powder River Basin has commenced. Testing is being undertaken by Petrotek Corporation, a leading injection well and subsurface resources consultancy with more than 28 years of experience in hydrogeological testing and ISR resource development.

Highlights

• Hydrogeological testing at Lo Herma has commenced, marking a key milestone in advancing towards ISR project development
• Testing is expected to take approx. 2 weeks with results anticipated by the end of 2026
• Phase 1 of the resource development drilling campaign at Lo Herma is underway and progressing well with over half of the planned program completed. Initial results are expected before the end of 2026
• These programs are designed to underpin a Mineral Resource Estimate and Scoping Study update in 2026.

This testing is running concurrently with Phase 1 of the resource development drilling campaign which is progressing well and is now past the halfway point of the resource expansion program. Drilling results are expected by the end of 2026. The hydrogeological testing fieldwork program is expected to be complete during the week commencing November 24th, with results anticipated before the end of 2026.

AMU CEO and Executive Director Bruce Lane commented:

“We are very pleased to now have both the hydrogeological testing and resource development drilling programs underway at Lo Herma. These programs represent major steps toward advancing one of America’s most promising ISR uranium projects. Lo Herma is one of the few near-term, low-cost ISR projects in the U.S. The hydrogeological testing aims to validate our initial aquifer observations and confirm aquifer transmissivity.

“The first phase of drilling is now well underway and past the halfway point with an objective to grow the current 8.57Mlb resource base and ultimately feed into an updated Mineral Resource Estimate and Scoping Study in 2026, positioning us to capitalise on significant support programs in place to support the US domestic nuclear fuel supply chain.”

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