Foremost Clean Energy Announces $9 Million 2026 Exploration Program for Athabasca Basin Uranium Projects

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has announced plans for an approximately $9 million exploration program in 2026, primarily focused on advancing its uranium portfolio in Saskatchewan's Athabasca Basin. The program will target 10 optioned projects covering about 130,000 hectares that were acquired from Denison Mines Corp., with the company citing strong datasets, prior discoveries, and a focused capital deployment strategy as it enters the new year.

The 2026 exploration initiative is expected to include winter and summer drilling at two key locations: Hatchet Lake and Turkey Lake. This drilling follows recent exploration progress and geophysical work that has identified promising targets in these areas. The company holds an option to earn up to a 70% interest in most of its uranium properties, with the exception of Hatchet Lake where Foremost can earn up to 51%. These properties span over 330,000 acres in the uranium-rich Athabasca Basin region of northern Saskatchewan, which is globally recognized for hosting some of the world's highest-grade uranium deposits.

In addition to its uranium focus, Foremost Clean Energy will continue advancing its Jean Lake Gold Project in Manitoba through additional drilling and evaluation of pending assay results. The company maintains a diversified portfolio that also includes lithium projects across 55,000+ acres in Manitoba and Quebec, though the 2026 program appears primarily concentrated on uranium exploration given the substantial investment allocated to the Athabasca Basin properties.

The strategic emphasis on uranium exploration comes at a time when demand for carbon-free energy continues to accelerate globally. Domestically mined uranium and lithium are positioned for dynamic growth as nations seek to secure reliable supplies of critical minerals essential for nuclear energy and battery technologies. Foremost's mission involves making significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs, with projects ranging from grassroots exploration to those with significant historical exploration and drill-ready targets.

For investors seeking additional information about the company's developments, the latest news and updates relating to FMST are available through the company's newsroom at http://ibn.fm/FMST. The full details of the exploration program announcement can be viewed in the original press release at https://ibn.fm/KJzEJ.

The $9 million exploration commitment represents a substantial investment in Canadian mineral exploration and reflects growing confidence in the Athabasca Basin's potential to deliver new uranium discoveries. As a rapidly growing North American uranium and lithium exploration company, Foremost Clean Energy's focused approach to capital deployment in 2026 could position it to benefit from increasing global demand for clean energy minerals while contributing to domestic resource development in strategic sectors.