Perth, Australia – American Uranium Limited (ASX:AMU; OTCID:AMUIF) has commenced its Phase 1 resource development drilling program at the Lo Herma In-Situ Recovery (ISR) Uranium Project in Wyoming’s Powder River Basin, marking a major step in advancing one of the United States’ most promising near-term uranium developments.
Highlights
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Phase 1 of a two-stage drilling campaign has commenced at Lo Herma.
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The program aims to expand the current 8.57 million-pound uranium resource and support an interim Mineral Resource Estimate (MRE) update in early 2026.
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Phase 2 infill drilling is scheduled for Q1 2026, to upgrade resource classifications ahead of a planned Scoping Study update in Q2 2026.
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Drilling permit allows for up to 121 holes (~37,500 metres) across proposed Mine Units 1 and 2.
Advancing a Major U.S. ISR Uranium Asset
The Phase 1 program - comprising approximately 50 holes for 15,000 metres - targets known mineralised rollfronts north of the proposed mine units to grow the Lo Herma resource base. Phase 2 will focus on infill drilling to lift confidence in existing Indicated and Measured categories.
American Uranium CEO and Executive Director Bruce Lane said the commencement of drilling was a key milestone for the company:
“We are delighted to have now commenced Phase 1 of the resource development drilling campaign at Lo Herma. We’re excited to be in a strong position to be able to complete this first phase of resource expansion drilling this quarter, with an interim mineral resource estimate update expected in early 2026.
This program marks an important step towards advancing one of America’s most promising near-term, low-cost ISR uranium projects. Lo Herma is one of the few new near-term, low-cost ISR projects in the U.S. and the drilling campaign will target both growth in the current 8.57Mlb resource base and increased confidence in Mineral Resources.
This work is expected to feed into a further resource upgrade and updated Scoping Study in the first half of 2026 to demonstrate Lo Herma’s potential to deliver similar economic potential to ISR uranium mines currently being planned or constructed in Wyoming such as Ur-Energy’s Shirley Basin project.”
Next Steps
Drilling results from Phase 1 will underpin the interim MRE and guide planning for Phase 2 infill work. Both stages form part of American Uranium’s broader development strategy to position Lo Herma as a scalable, low-carbon uranium supplier supporting the U.S. energy transition.
ENDS
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About American Uranium
American Uranium Limited (ASX:AMU) is focused on defining and developing economic in-situ recovery (ISR) uranium resources as part of the U.S. domestic uranium mining revival. AMU’s flagship and most advanced Lo Herma Project leads the Company’s project portfolio and is strategically positioned in Wyoming’s Powder River Uranium Basin, the most significant uranium production district in the U.S.
Contact details:
Jane Morgan
Investor & Media Relations Manager
M: +61 405 555 618
[email protected]u
