American Uranium kicks off drilling at Lo Herma ISR project

• Drilling to expand and upgrade resources at proposed Mine Units 1 and 2
• Advancing targeted technical work to further de‐risk the project
• Planned Q3 2026 resource update and scoping study
• Program includes infill and expansion drilling

American Uranium (ASX: AMU) has kicked off the next phase of drilling at its Lo Herma ISR uranium project in Wyoming’s Powder River Basin.

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The campaign is targeting the remaining 55 drill holes under an approved 121-hole drilling permit.

“Following successful 2025–26 drilling campaigns and our recent interim Mineral Resource upgrade, we have commenced the remaining 55 permitted holes at Lo Herma,” executive director, Bruce Lane, said.

“This next phase of drilling is designed to further grow and upgrade resources within our priority Mine Unit areas including testing mineralised trends south of Mine Unit 2, ahead of our planned Q3 2026 resource update and scoping study.”

The Lo Herma Project is covered by an approved drilling permit allowing up to 37,500 metres of drilling and to date, 66 holes have been completed.

The current program is targeting both resource growth and improved geological confidence within the planned study footprint.

In parallel with drilling, AMU is undertaking more intensive hydrogeological and metallurgical work programs within priority Mine Unit areas to refine development assumptions and support study level inputs

Results from the drilling and associated technical work are expected to inform a planned mineral resource estimate update and scoping study targeted for Q3 2026.

Exploration and development drilling at Lo Herma, together with hydrogeological and metallurgical testing, has been undertaken across three discrete areas within the project, defined as Mine Unit 1 (MU1), Mine Unit 2 (MU2) and Mine Unit 3 (MU3).

Data generated from this work along with a significant body of historical drilling data was used to estimate mineral resources and has been used for preliminary assessments of leach characteristics, conceptual wellfield and process flowsheet design, and high‐level engineering and capital cost inputs.

AMU is up 1.04% to 9.7¢. Mkt cap $12.41M.

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