Large-Scale Aquifer Testing Commences at Lo Herma as ProjectAdvances Toward

Large scale hydrogeological testing is now underway at Mine Unit 1 following AMU’s recent 9.96Mlb resource update, supporting permitting activities and the Company’s targeted Q4 2026 Scoping Study.

American Uranium Limited (ASX:AMU, OTC:AMUIF) (American Uranium, AMU or the Company) is pleased to advise that large-scale hydrogeological pump testing has commenced at proposed Mine Unit 1 of its Lo Herma ISR Uranium Project in Wyoming’s Powder River Basin. The program represents another important milestone in advancing Lo Herma from resource definition toward project evaluation, permitting and potential ISR development.

Highlights

• Major development milestone: Large-scale aquifer testing has commenced at Lo Herma Mine Unit 1, marking an important step toward ISR project evaluation and development.
• Key hydrogeological data being collected: Testing is designed to further assess groundwater flow, hydraulic connectivity and wellfield development parameters across the proposed initial mining area.
• Follows recent 9.96Mlb resource update: The program follows AMU’s August 2026 resource update, including 7.38Mlbs U3O8 within the proposed Scoping Study area.
• Supporting next major catalyst: Results are expected to provide important inputs to the Company’s targeted Q4 2026 Scoping Study.

Aquifer pump testing follows the Company’s 16 July 2026 announcement that seven additional hydrogeological monitoring wells had been installed at Mine Unit 1. The program is centred on the existing LH MW-003 pumping well and incorporates monitoring wells in the target production horizon, overlying units and an underlying sand interval.

The program is designed to generate key hydrogeological data for groundwater modelling, permitting activities and future ISR wellfield design. It will assess groundwater flow through the target production sands, hydraulic connectivity between relevant units and wellfield development parameters across the proposed initial mining area. Results from the program are expected to support groundwater modelling inputs required for permitting activities and provide key parameters for the planned Scoping Study.

The program follows AMU’s 4 August 2026 Lo Herma Mineral Resource Estimate update, which reported total Lo Herma resources of 9.96Mlbs U3O8, including 4.79Mlbs Indicated. Within the proposed Scoping Study footprint across Mine Units 1, 2 and 3, resources increased to 7.38Mlbs U3O8, with 54% classified as Indicated. The combination of the updated resource and commencement of large-scale pump testing continues to strengthen the technical foundation for Lo Herma’s planned Scoping Study and longer-term development pathway. The Company expects results from the testing program to be incorporated into the targeted Q4 2026 Scoping Study.

AMU CEO and Executive Director Bruce Lane commented: “With our updated 9.96Mlb resource completed and pump testing now underway, Lo Herma continues to advance toward development. The program will deliver key data…