Premier American Uranium: Uranium Mineralization Expands at the Kaycee Project

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As announced earlier today (June 17), Premier American Uranium (PUR) provided preliminary results from the 2026 drilling program at the wholly-owned Kaycee Project, located in Wyoming’s Powder River Basin. The 100,000ft program started last month and is believed to be the largest uranium drilling program currently being conducted anywhere in the U.S. Thus far, a total of 17,100ft have been drilled. Additional drilling will be undertaken at the Rustler and Stampede zones.  

KNOWN URANIUM MINERALIZATION EXPANDS

At the recently identified Outpost target area, both infill and step-out drilling has been successful with expanding and further defining the zone of known uranium mineralization. Initial results from the Outpost zone have been released with 7 of 19 holes intersecting uranium mineralization with grades of 0.02% eU3O8 or higher. Moreover, the drilling conducted so far has identified two target sand units within the lower Wasatch Formation, both of which are host to uranium mineralization. The lower Wasatch Formation is also the principal host of uranium mineralization in the Pumpkin Buttes district, just east of the Kaycee Project area. Highlight intercepts are below:

Along with the Outpost zone, additional zones to be drilled include Rustler (~51,000ft), Stampede and a zone in the vicinity of historic coal bed methane wells.

THE KAYCEE URANIUM PROJECT

Located in Wyoming’s Powder River Basin (PRB), the Kaycee Project covers over 46 square miles of mineral rights over a 36-mile mineralized trend hosting more than 110 miles of identified roll fronts. The Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. Excluding the current 100,000ft drilling campaign, ~328,000ft have been drilled since 2023. Recall that an updated NI43-101 Technical Report (2025) identified an exploration target between 11.5M-30M lbs U3O8 at average grade of 0.06%-0.10%. The Project is strategically located near established ISR mines such as Nichols Ranch, Christensen Ranch and Irigaray (among others).

VALUATION & CONCLUSION

In light of one of the largest current uranium drilling campaign being conducted anywhere in the U.S., the initial results from the Outpost zone are promising for a very early stage discovery. This latest data allows for a better understanding of this highly prospective target. Data derived from this campaign will further shape plans for the Project. With a drilling program amounting to 100,000ft, we expect a steady stream of news flow in the weeks ahead. We maintain our $100 per lb LT, 0.65x NPV8% derived valuation for Cebolleta while factoring in the latest corporate adjustments. Our resulting 12-month price objective is maintained at C$1.55 per share which reflects upside of +204% from the June 16 close. Shares of Premier American Uranium currently trade at a P/NAV of 0.22x, or given the recent financing, at ~0.27x cash/mcap.