Premier American Uranium Identifies Multiple Mineralized Uranium Trends in Ongoing Drilling at Kaycee, Wyoming

Premier American Uranium Inc. (PUR) has released mid-season results from its 2026 Kaycee drilling program located in Wyoming’s Powder River Basin. The company has completed 50 conventional mud-rotary holes totaling 41,960 feet, representing approximately 42% of the planned 100,000-foot program.

At the Rustler target, 13 of 22 holes encountered uranium mineralization at or above 0.02% eU3O8. The best reported intercept from this target, RT26-085, returned 3.5 feet at 0.135% eU3O8, including 2 feet at 0.204% eU3O8. The release indicates that two distinct mineralized sandstone units were identified in the lower Wasatch Formation, with possible stacked roll fronts and separate redox boundaries.

At the Outpost target, 7 of 27 holes encountered mineralization at or above 0.02% eU3O8. The best Outpost intercept shown, LT26-077, returned 2 feet at 0.073% eU3O8, including 0.5 feet at 0.101% eU3O8.

All reported grades are equivalent uranium derived from gamma-ray logs rather than direct chemical assays, and no disequilibrium corrections were applied. Because the holes are vertical and the units are flat-lying, the reported thicknesses are treated as true thicknesses.

Kaycee remains an exploration target with no defined mineral resource, and the news does not alter the company’s main asset, Cebolleta, which holds an NI 43-101 indicated resource of 20.3 Mlb eU3O8 and an inferred resource of 7.0 Mlb eU3O8.

The 2026 Kaycee results are not considered a discovery hole, as the best intercept falls below the project’s own 2025 anchor in grade-thickness. The stock has already round-tripped from C$1.36 in September 2025 to a recent C$0.59, sitting near the low end of its trading range. The market is not pricing for a transformed Kaycee deposit.

Against that low expectation, the news is mixed: Rustler shows new mineralized hits and two sands, but Outpost did not add new significant intercepts. The report is an incremental, expected mid-season drilling update.

Premier American Uranium Inc. (PUR) is a Canadian-listed, pre-revenue uranium exploration and development company. Its core asset is the Cebolleta project in New Mexico, which holds an NI 43-101 resource of 20.3 million pounds of indicated eU3O8 at 0.12% and 7.0 million pounds of inferred eU3O8 at 0.10%. A 2025 Preliminary Economic Assessment (PEA) for Cebolleta outlined a 13-year mine life with an average production of 1.4 million pounds of U3O8 per year. At a uranium price of US$90 per pound, the assessment projected an after-tax NPV8% of US$83.9 million and an internal rate of return (IRR) of 17.7%.

The company also holds exploration targets in Wyoming. The Kaycee project in the Powder River Basin is described as a large ISR exploration target with no defined resource, featuring a 36-mile mineralized trend and over 110 miles of identified roll fronts. The Cyclone project, located in the Great Divide Basin, is another ISR exploration target with no defined resource. Premier American Uranium acquired these Wyoming assets through the completion of the Nuclear Fuels acquisition in 2025.

Strategic shareholders in the company include Sachem Cove Partners, IsoEnergy, and Mega Uranium. In February 2026, the company closed a C$15 million bought deal at C$0.90 per unit.