Hydrogeological tests underway at Lo Herma

American Uranium Limited (ASX:AMU, OTC:AMUIF) (American Uranium, AMU or the Company) is pleased to announce that hydrogeological testing has commenced at the Lo Herma ISR uranium project in the Powder River Basin in Wyoming. The testing is being conducted 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.

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Highlights

• The hydrogeological tests at Lo Herma have begun and represent an important milestone towards the development of ISR projects
• Testing is expected to last approx. 2 weeks with expected results by the end of 2026
• Phase 1 of the resource development drilling campaign at Lo Herma is underway and progressing well; more than half of the planned program has been completed. The first results are expected before the end of 2026
• These programs are designed to support an update of the Mineral Resource Estimate and Scoping Study in 2026.

These tests are running concurrently with Phase 1 of the resource development drilling campaign, which is progressing well and is now halfway through the resource expansion program. Drilling results are expected at the end of 2026. The hydrogeological testing fieldwork program is expected to be completed in the week commencing November 24, with results expected before the end of 2026.

FIGURE 1: PETROTEK PERFORMS HYDROGEOLOGICAL TESTING AT LO HERMA

AMU CEO and Executive Director Bruce Lane commented:

“We are very pleased that both the hydrogeological testing and resource development drilling programs are now underway at Lo Herma. These programs represent important 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 is intended to validate our initial aquifer observations and confirm the aquifer’s permeability.

“The first phase of drilling is now well underway and past the halfway point, with the goal of growing the current resource base of 8.57 million pounds and ultimately feeding it with an updated Mineral Resource Estimate and Scoping Study in 2026, allowing us to take advantage of significant support programs to support the U.S. domestic nuclear fuel supply chain.”

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