Perth, Australia – American Uranium Limited (ASX:AMU; OTCID:AMUIF) as mobilised a drill rig ahead of schedule to commence resource development drilling at its flagship Lo Herma In-Situ Recovery (ISR) Uranium Project in Wyoming’s Powder River Basin, targeting expansion and upgrade of the existing 8.57-million-pound uranium resource.
Drilling Underway to Expand U.S. Uranium Resource Base
With all key permits, bonds, and access secured, a mud-rotary drill rig has been mobilised to site and is set to begin operations this week. The two-phase resource development program will support the next stage of growth for one of America’s most advanced near-term ISR uranium projects.
Phase 1, commencing immediately, will target resource expansion across known mineralised roll-fronts north of the proposed Mine Units 1 and 2. Phase 2, scheduled for early 2026, will focus on infill drilling to improve confidence in existing Mineral Resource classifications.
The drilling permit allows for up to 121 holes and 37,500 metres, with results to underpin an interim Mineral Resource Estimate update in early 2026 and an updated Scoping Study in Q2 2026.
Commenting on the important milestone, CEO and Executive Director, Bruce Lane confirmed:
“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 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.”
Positioned in the Heart of U.S. Uranium Country
Located in Wyoming’s Powder River Basin - one of the most productive uranium districts in the United States - the Lo Herma Project benefits from extensive historical data, established ISR infrastructure, and strong community and regulatory support.
American Uranium’s near-term development focus aligns with growing U.S. demand for domestically sourced uranium to support nuclear energy expansion and energy security objectives.
ENDS
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About American Uranium
American Uranium Limited (ASX:AMU; OTCID:AMUIF) 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.
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Jane Morgan
Investor & Media Relations Manager
M: +61 405 555 618
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