American Uranium records 72% jump in Indicated resources at Lo Herma uranium project

• Indicated resources increased to 4.79 Mlbs U3O8.
• Significant enhancement to resource confidence and development readiness.
• Scoping study proposed resource base expanded by 23%.
• Completed 120-hole 2025/26 drilling program.

American Uranium (ASX:AMU) has released a significant updated uranium mineral resource estimate (MRE) at its Lo Herma uranium project in Wyoming’s Powder River Basin.

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The update follows completion of the company’s 2025/26 resource development program, comprising a total of 120 drill holes, which was focused on building confidence and scale to support a planned scoping study.

The MRE for the project is focused on mining by in-situ recovery (ISR) method and is reported at an appropriate cut-off grade of 200 parts per million (ppm) of triuranium octoxide (U3O8) and a minimum grade thickness (GT) of 0.2 per mineralised horizon.

CEO, Bruce Lane, said the updated MRE marks an important milestone for Lo Herma and reinforces its position as a significant emerging ISR uranium development project in Wyoming’s Powder River Basin.

“With total resources now approaching 10 Mlbs U3O8, and a substantial increase in confidence delivered within the proposed development footprint, the project is increasingly demonstrating the scale and quality required to support future development studies,” Mr Lane said.

“Importantly, the updated resource provides a stronger foundation for the scoping study targeted for early Q4 2026 and supports AMU’s progression from resource delineation toward project development studies, permitting pathways and further evaluation of potential ISR development scenarios.

“With 7.38Mlbs U3O8 now defined within the proposed Scoping Study area and 54% classified as Indicated, Lo Herma is well positioned for the next phase of technical and development advancement.”

Mr Lane told shareholders that while the Lo Herma project covers a broader mineralised footprint, current technical work is deliberately focused on three priority areas—Mine Unit 1 (MU1), Mine Unit 2 (MU2) and Mine Unit 3 (MU3) which represent the most advanced and best-understood parts of the project.

These areas have been prioritised as they are expected to form the foundation of the initial development concept being assessed, and where the completed 2025/26 drilling, testing and technical work has progressively improved confidence ahead of the planned scoping study.

AMU is steady at 6.8¢ with a Mkt cap of $8.850M.

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