09:23 AM EDT, 03/27/2026 (MT Newswires) -- Premier American Uranium ( PAUIF ) on Friday announced details of the 2026 work program at its flagship Cebolleta Uranium Project in New Mexico, saying it is targeting refinements to the process assumptions of the 2025 Preliminary Economic Assessment and is specifically designed to "investigate and maximize" the metallurgical recovery of uranium from the heap leach process.

The company said the 2025 Mineral Resource Estimate "positions Cebolleta as one of the largest advanced uranium projects in the United States." Results from the program are expected to be implemented in a updated Preliminary Economic Assessment targeted for the first quarter of 2027.

"We are excited to commence the 2026 work program, supported by a modest US$1.1 million budget following our recent $15 million bought-deal financing, reflecting the disciplined approach to capital allocation that we want to be known for," said Premier American Uranium ( PAUIF ) Chief Executive Colin Healey.

"Importantly, this relatively small investment is targeting meaningful value creation, whereas outlined in the 2025 PEA, a 12.5% increase in metallurgical recovery could drive an approximate 90% (US$75 million) increase in after-tax NPV (8%). This highlights the significant upside potential in Cebolleta and further reinforces its potential as a key source of domestic uranium production."

The company said drilling is scheduled to start in late April and conclude in June, with samples to be delivered to Hazen Research as recovered. A 42-week laboratory testing campaign will begin May 2026.

Shares of the company closed down 1.7% to $0.59, at the low end of its 52 week trading range, on Thursday on the TSX Venture Exchange.