Premier American Uranium Inc. announced that it has commenced its inaugural exploration drill program at the wholly-owned Cyclone ISR Uranium Project in the Great Divide Basin, Wyoming, in the vicinity of Ur-Energy Inc.?s Lost Creek ISR uranium mine and other former uranium mining facilities. The exploration drill program at Cyclone is designed to systematically investigate the resource potential identified in the National instrument 43-101 ? Standards of Disclosure for Mineral Projects (NI 43-101), with an effective date of June 30, 2023, which outlined a resource exploration target of 7.9 million pounds to 12.6 million pounds of eU3O8 at a grade of approximately 0.06% U3O8.

This target is underpinned by data from 88 holes drilled in 2007-2008 by previous operators, which demonstrated the presence of sandstone-hosted uranium mineralization within a geologic setting conducive to In Situ Recovery (?ISR?) extraction. Highlights 71 reverse circulation drill holes totaling approximately 49,700 ft. are planned for 2024 and 2025 drill seasons.

Two priority targets are expected to be tested, including Cyclone Rim Target (North Block) and Osborne Draw Target (East Block). At the Cyclone Rim Target, drilling has commenced with one rig scheduled to drill 35 holes to an average depth of approximately 500 ft. At the Osborne Draw Target, drilling is anticipated for the 2025 season (July to October) and contemplates approximately 36 drill holes with an average depth of 800 ft.

The budget for the program is approximately USD 2.3 million. The reverse circulation drilling services contract has been awarded to Boart Longyear. The Cyclone Project is situated in the Wyoming Basin physiographic province in south-central Wyoming and within the Great Divide Basin.

Uranium mineralization occurs in the Tertiary Battle Spring Formation as sandstone-hosted roll-fronts. PUR?s mineral holdings include 1,150 unpatented mining claims and 7 State leases. In total, the Project comprises approximately 27,629 acres.

The area was explored by various companies and the US government beginning in the 1950?s. Wyoming has led the US in uranium mining since 1995, and since the first uranium mines started operating in 1951, the state has produced more than 238 million pounds of uranium concentrate. Wyoming hosts the largest known economic uranium ore reserves in the US, which are located in the Powder River Basin, Great Divide Basin, Shirley Basin, and Gas Hills (Wind River Basin). Exploration Drilling at Cyclone Project: The Project consists of two target areas known as the Cyclone Rim Target (North Block) and the Osborne Draw Target (East Block).

PUR expects to drill-test both targets in a fully permitted, staged, program totaling approximately USD 2.3 million (71 holes, 49,700 ft.) that will span the 2024 and 2025 drilling seasons. The first stage of drilling envisions the completion of approximately 35 holes at the Cyclone Rim target this summer, and now underway, carrying an average depth of approximately 500 ft. (total of 17,500 ft.).

Mineralization at the Cyclone Rim target occurs at approximately 400 ft. The majority of the drilling on the Osborne Draw target is expected to occur during the 2025 drilling season (July to October), with the potential, weather and time permitting, to conduct some initial drilling this year. Mineralization at the Osborne Draw target occurs at approximately 700 ft.

Approximately 36 holes drilled to an average depth of 800 feet (total of 28,800 ft.) are planned.