Foremost Clean Energy Ltd. Secures Full Ownership of Jean Lake Lithium-Gold Project

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has successfully exercised its option to acquire 100% ownership of the Jean Lake Lithium-Gold Project, located in Manitoba's Snow Lake District. The acquisition, finalized with a cash payment of $75,000 and the issuance of $75,000 in common shares to Mount Morgan Resources Ltd., completes a total purchase of $250,000 in cash and 47,299 shares. This move not only solidifies Foremost's position in the clean energy sector but also underscores the company's commitment to exploring and developing critical minerals essential for the global energy transition.

The Jean Lake Project, spanning 2,476 acres, has already shown promising initial drilling results, including high-grade gold and lithium findings. These results highlight the project's potential to contribute significantly to the supply of lithium and gold, resources in high demand due to their critical roles in renewable energy technologies and as safe-haven assets, respectively. CEO Jason Barnard emphasized the strategic value of the project, especially in the context of current high gold prices, and expressed the company's solidarity with the local communities and First Nations partners affected by wildfires in the region.

Foremost Clean Energy Ltd. is positioning itself as a key player in the North American uranium and lithium exploration sectors. With interests in over 330,000 acres in the Athabasca Basin and a secondary portfolio of lithium projects across Manitoba and Quebec, the company is at the forefront of supporting the world's energy transition goals. The acquisition of the Jean Lake Project is a testament to Foremost's strategic and disciplined approach to exploration, aiming to meet the growing demand for clean energy resources.

This development is not only a milestone for Foremost Clean Energy Ltd. but also a significant event for the clean energy industry. The Jean Lake Lithium-Gold Project's exploration and potential development could play a pivotal role in addressing the global need for sustainable and reliable energy sources, marking an important step towards achieving decarbonization targets.