Foremost Clean Energy Issues 485,000 Shares to Denison Mines Under Investor Rights Agreement

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) will issue 485,000 common shares to Denison Mines Corp. (TSX: DML, NYSE American: DNN) at $2.20 per share for total proceeds of $1,067,000 under the companies' Amended & Restated Investor Rights Agreement dated July 23, 2025. This transaction brings Denison's ownership to approximately 19.17% of Foremost's outstanding common shares, significantly deepening the strategic relationship between the two companies in the critical minerals sector.

The issuance, which was approved by the Canadian Securities Exchange, relates to Denison's equity participation right on prior warrant exercises and property payments. The shares will be subject to a four-month-plus-one-day hold period, ensuring market stability while allowing for the strategic alignment of both companies' interests. This transaction underscores the ongoing collaboration between Foremost Clean Energy and Denison Mines in developing uranium and lithium projects, particularly in the uranium-rich Athabasca Basin region of northern Saskatchewan.

Foremost Clean Energy holds an option from Denison Mines Corp. to earn up to a 70% interest in 10 prospective uranium properties, with the exception of the Hatchet Lake property where Foremost is able to earn up to 51%. These properties span over 330,000 acres in the prolific Athabasca Basin, one of the world's most significant uranium-producing regions. As demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are positioned for dynamic growth, playing a crucial role in the future of clean energy infrastructure and nuclear power generation.

The company's uranium projects are at various stages of exploration, ranging from grassroots initiatives to properties with significant historical exploration and drill-ready targets. This strategic share issuance reinforces the commitment between Foremost and Denison to pursue systematic and disciplined exploration programs aimed at making significant discoveries in the uranium sector. The transaction demonstrates confidence in Foremost's exploration portfolio and the long-term value proposition of uranium development in North America.

Investors and stakeholders can access additional information through the company's newsroom at https://ibn.fm/FMST. The latest developments in the mining and resources sectors are also available through specialized communications platforms that focus on global mining opportunities and developments. This share issuance represents a meaningful step in strengthening the capital structure and strategic positioning of Foremost Clean Energy as it advances its portfolio of uranium and lithium projects in partnership with an established industry leader.