American Uranium's Lo Herma Resource Reaches 9.96Mlbs as Indicated Resources Grow 72% Prior to Publication of Planned Scoping Study

CASPER, Wyo., Aug. 4, 2026 /PRNewswire/ -- American Uranium Limited (ASX: AMU, OTCQB: AMUIF) announced an updated Lo Herma Uranium resource that reaches 9.96Mlbs as Indicated Resources grow 72% prior to the publication of a planned scoping study. Specific details can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03117542-6A1337145&v=undefined.

Highlights:

• Delivered a 72% increase in Indicated Resources to 4.7Mlbs U₃O₈, significantly enhancing resource confidence and development readiness.
• Expanded the proposed Scoping Study resource base by 23% to 7.38Mlbs U₃O₈, strengthening the scale of the initial development opportunity.
• Lifted confidence within the proposed Scoping Study footprint to 54% Indicated, up from 32%, providing a stronger foundation for mine planning and project evaluation.
• Increased total Lo Herma Resources by 16% to 9.96Mlbs U₃O_8, reinforcing Lo Herma's position as a significant emerging U.S. ISR uranium development project.
• Completed the 120-hole 2025-26 drilling program, with all results now incorporated into the updated Mineral Resource Estimate.
• Advanced Lo Herma toward the Scoping Study targeted for early Q4 2026, supported by a larger, higher-confidence resource base and planned hydrogeological pump testing.
• AMU's total mineral resources now stand at 11.62Mlb U₃O₈ within the state of Uranium.

"The updated LoHerma Mineral Resource Estimate marks an important development milestone for us, delivering both a substantial increase in confidence and resource growth ahead of our planned Scoping Study," said Bruce Lane, CEO of American Uranium.

The LoHerma ISR uranium project is the company's flagship asset, located in Wyoming's Powder River Basin. On a contained-resource and development readiness basis, the Project is increasingly comparable to ISR satellite projects in the area such as Ur-Energy's Shirley Basin and Uranium Energy Corp's Luderman, which have been advanced within hub-and-spoke ISR frameworks. The company also holds additionally highly prospective ISR assets in Wyoming's Great Divide Basin and brownfields conventional uranium/vanadium assets in Utah's Henry Mountains.

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SOURCE American Uranium Ltd.