Foremost Clean Energy Secures Three-Year Exploration Permit for Saskatchewan Uranium Project

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has received a three-year exploration permit from the Saskatchewan Ministry of Environment for its Turkey Lake uranium project. The permit authorizes up to 75 drill holes and related fieldwork through December 31, 2028, marking a significant regulatory milestone for the company's exploration activities in the uranium-rich Athabasca Basin region of northern Saskatchewan.

The company announced that a ground-based gravity survey conducted by MWH Geo Survey will begin in December to refine targets ahead of a planned 2026 drill program. This systematic approach follows historic uranium intercepts by industry leaders Cameco and Denison along an underexplored 10-kilometer conductive corridor within the project area. The permit enables Foremost to advance exploration on this prospective corridor, which represents a strategic focus for the company's uranium portfolio.

Foremost Clean Energy holds an option to earn up to a 70% interest in 10 prospective uranium properties spanning over 330,000 acres in the Athabasca Basin region, with the exception of the Hatchet Lake property where the company can earn up to 51%. The company's uranium projects range from grassroots exploration to properties with significant historical exploration and drill-ready targets. According to the company's mission statement, Foremost aims to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs.

The timing of this permit coincides with growing demand for carbon-free energy sources, positioning domestically mined uranium for dynamic growth as it plays an important role in the future of clean energy. The Athabasca Basin is recognized globally as one of the most prolific uranium-producing regions, hosting some of the world's highest-grade uranium deposits. Foremost's expanded exploration capabilities at Turkey Lake could contribute to North American uranium supply security as nations increasingly prioritize nuclear energy in their decarbonization strategies.

In addition to its uranium portfolio, Foremost Clean Energy maintains lithium projects across 55,000+ acres in Manitoba and Quebec, reflecting the company's broader positioning within the clean energy minerals sector. The latest news and updates relating to FMST are available in the company's newsroom at http://ibn.fm/FMST. The full press release detailing the permit announcement can be viewed at https://ibn.fm/qoIVC.

The three-year permit provides Foremost with regulatory certainty and operational flexibility to conduct comprehensive exploration at Turkey Lake during a period of renewed interest in nuclear energy as a baseload power source. The company's methodical approach—beginning with gravity surveys before advancing to drilling—demonstrates a disciplined exploration strategy that could potentially identify new uranium resources along the conductive corridor. As global energy transitions accelerate, successful exploration outcomes at Turkey Lake could enhance Foremost's position within the North American uranium exploration sector while contributing to the broader clean energy supply chain.