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

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has obtained 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 step in the company's exploration efforts in the uranium-rich Athabasca Basin region of northern Saskatchewan. This development follows historic uranium intercepts by Cameco and Denison along a 10-kilometer conductive corridor that has been underexplored, highlighting the project's potential for significant discoveries.

The company announced that a ground-based gravity survey conducted by MWH Geo Survey will commence in December to refine targets ahead of a planned drill program in 2026. This systematic approach aims to build on previous findings and optimize exploration efficiency. 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, with the exception of the Hatchet Lake property where it can earn up to 51%. The company's mission is to make significant discoveries in collaboration with Denison through disciplined exploration programs.

The timing of this permit is crucial as demand for carbon-free energy accelerates, positioning domestically mined uranium for dynamic growth in the clean energy sector. Foremost's uranium projects are at various stages of exploration, from grassroots to drill-ready targets, with the Turkey Lake project now advancing under this new permit. The company also maintains a portfolio of lithium projects across 55,000+ acres in Manitoba and Quebec, diversifying its clean energy focus. For further updates, the company's newsroom is available at http://ibn.fm/FMST, and the full press release can be viewed at https://ibn.fm/qoIVC.

This permit enables Foremost to conduct extensive fieldwork and drilling, which could lead to resource definition and potential development, contributing to North American uranium supply security. The Athabasca Basin is renowned for high-grade uranium deposits, and successful exploration here could bolster Foremost's role in the energy transition. The company's structured exploration plan, including the upcoming gravity survey, reflects a methodical strategy to capitalize on historical data and geological trends. As global emphasis on nuclear energy as a low-carbon power source increases, such projects gain importance for meeting future energy needs while reducing reliance on imported uranium.