Wyoming

The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin (PRB), Wyoming (WY)

Wyoming

100% owned ISR uranium assets in Wyoming (approx. 50,000 acres across all projects)

Wyoming Advantages

Wyoming is arguably the most important uranium producing state in the U.S.
Wyoming has a long history of uranium mining (dating back to the late 1940’s).
Wyoming roll front uranium deposits are amenable to In Situ Recovery (ISR) mining if sufficiently below the ground water table & contained in a subterranean aquifer which is geologically amenable to control of underground leaching solutions.
ISR mining offers low cost for OPEX & CAPEX with less surface impact. ISR mining practiced commercially in Wyoming since the mid 1980’s.
There are 7 ISR uranium processing facilities currently operable in Wyoming & 2 others are licensed for construction.
TerraPower (Bill Gates) and PacifiCorp (Buffett’s Berkshire Hathaway) have chosen Wyoming for the site of a new Natrium nuclear power plant.

FIGURE 1. LOCATION OF WYOMING ISR PROPERTIES

Lo Herma

Positive Interim Scoping Study Completed

8.57 million pounds (Mlbs) of U₃O₈ contained metal classified as 2.78Mlbs of Indicated (32%) and 5.79Mlbs of Inferred resource for Lo Herma (refer Tables 1 & 2).
Exploration Target of an additional 6.16 – 10.95Mlbs U₃O₈ at 500-700ppm (refer Table 2).
AMU’s combined Wyoming Indicated & Inferred Mineral Resources now 10.23 Mlbs U₃O₈.
Lo Herma is ~10 miles from the U.S.’ largest ISR U₃O₈ production plant at Cameco’s Smith Ranch-Highland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Nichols Ranch.

FIGURE 2. LOCATION OF WYOMING LO HERMA PROJECT

Lo Herma Project Location & Infrastructure

The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin (PRB), Wyoming (WY). The Project lies approximately 15 miles north of the town of Glenrock and within ~60 miles of five (5) permitted ISR uranium production facilities.
These facilities include Ur Energy’s producing Lost Creek ISR plant and Shirley Basin satellite plant (in construction), UEC’s currently producing Willow Creek (Irigaray & Christensen Ranch) & it idled Reno Creek ISR plants, Cameco’s idled Smith Ranch-Highland ISR facilities and Energy Fuels idled Nichols Ranch ISR plant (Figure 1).
The Powder River Basin has extensive ISR uranium production history with numerous defined ISR uranium resources, central processing plants (CPP) and satellite deposits (Figure 1).
The Powder River Basin has been the backbone of Wyoming uranium production since the 1970s.
Lo Herma is ~10 miles from the U.S’s largest ISR U₃O₈ production plant at Cameco’s Smith Ranch-Hyland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek. The Powder River Basin has an extensive ISR uranium production history and has been the backbone of the Wyoming uranium production business since the 1970s.

Great Divide Basin & Green Mountain

Great Divide Basin

Project Highlights

Inferred Mineral Resource of 1.66 Mlbs U₃O₈ for Great Divide Basin Prospects.
Initial Exploration Target range of 6.10 – 9.53 Mlbs U3O8 estimated at Great Divide Basin Prospects.

Project Location

The Thor, Teebo, Odin, Loki and Wicket prospects (GDB Prospects) are located within Wyoming’s Great Divide Basin (GDB) Uranium District in Sweetwater County, Wyoming (WY).
The GDB prospects lie within a 15-mile (~24 km) radius of Ur-Energy Inc’s (URE) actively producing Lost Creek ISR uranium processing plant and the 18Mlb Lost Creek deposit. Other known deposits in the vicinity include URE’s Lost Soldier and Shirley Basin Deposits and Uranium Energy Corp’s (UEC) Twin Buttes, Antelope, and JAB Deposits.

Exploration

In February 2024 the Company advised it had finalised a maiden drill plan at Green Mountain, selecting 16 drill holes for permitting. The drill program is designed to test the validity of the historical Kerr McGee drill hole maps, as well as the interpreted 12 Miles (~19kms) of mineralised regions as determined from the airborne geophysical survey completed during late 2023. All surveys and drilling permit approval conditions have been met, and a reclamation bond amount has been determined by Wyoming’s DEQ & the United States Bureau of Land Management (BLM). The Company will make a final decision regarding timing of drilling at Green Mountain in due course.

Inferred Mineral Resource

American Uranium Limited (AMU or Company) has declared an initial Inferred Mineral Resource Estimate (MRE) at the Thor and Teebo Uranium Prospects located within AMU’s Great Divide Basin (GDB) Project located in Wyoming’s GDB uranium district.

The Inferred Mineral Resource Estimate (MRE) assumes mining by In-Situ Recovery (ISR) methods and is reported at a cut-off grade of 200 ppm U₃O₈ and a minimum grade thickness (GT) of 0.2 per mineralized horizon as:

1.32 million tonnes of mineralisation at an average grade of 570 ppm U₃O₈ for 1.66 million pounds of U₃O₈ contained metal.

FIGURE 3. AMU GREAT DIVIDE BASIN/GREEN MOUNTAIN PROJECT LOCATIONS

Green Mountain Project

Project Highlights

12 miles (19km) of anomalous uranium trends interpreted from airborne survey
6 prominent uranium anomalies were identified across the Project
Anomalies correlate with historically identified drill holes, interpreted trends, areas of past mining and/or known mineralisation

Project Location

AMU’s Green Mountain Project in Wyoming is part of the Great Divide Basin portfolio and lies immediately adjacent to AMU’s other Great Divide Basin projects & adjacent to Energy Fuel’s 30Mlb Sheep Mountain, Ur-Energy’s Lost Soldier, UEC’s Jackpot & Antelope deposits (Figures 1 & 2).

Exploration at Green Mountain

The Green Mountain Project contains a number of uranium mineralised roll fronts hosted in the fertile Battle Springs formation. AMU has used historical drilling records and recent geophysics results to develop drill targets which are now permitted for drilling. A drilling permit is now im place pending payment of a drilling bond.