Foremost plans 5,000-metre drill program for Hatchet

Executive Summary

• Foremost Clean Energy announces a 5,000-metre diamond drill program scheduled to commence mid-February at its Hatchet Lake uranium project in Northern Saskatchewan.
• The program is designed to follow up on the TF-25-16 discovery hole, which intersected 0.87% U3O8 over 0.45m, and to test multiple high-priority targets including Tuning Fork, Beta Grid, and Richardson SE.
• The company cites recent uranium prices reaching $100/lb and the identification of new drill-ready targets via modern geophysical reinterpretation as key drivers for this focused winter exploration campaign.

Key Details

• Drill Program Scope: 5,000 metres of diamond drilling anticipated to start mid-February.
• Primary Discovery Follow-up (Tuning Fork):
  • Focus on stepout and infill drilling around hole TF-25-16 to test along-strike and downdip continuity.
  • TF-25-16 previously intersected 0.87% U3O8 over 0.45m within a broader 6.2m interval averaging 0.10% U3O8.
  • Previous drilling extended strong hydrothermal alteration at least 50 metres along strike to the northeast.
• Tuning Fork West Target:
  • Identified a previously untested electromagnetic conductor approximately 1.2 km in strike length.
  • Conductor is coincident with a lithological boundary between metasedimentary rocks and granitic basement, interpreted as favorable for unconformity-related uranium deposits.
• Tuning Fork East Target:
  • Supported by previous hole TF-25-13, which intersected 2.5m at 0.03% U3O8.
  • Planned drilling will test strike extensions of conductive and alteration trends.
• Beta Grid Target (Hatchet Lake South):
  • Structurally controlled target featuring a 20.3-metre offset in the depth to the Athabasca unconformity between historic holes HT-125 and HT-126.
  • Offset interpreted as an east-directed thrust fault associated with a graphitic structural corridor and VTEM conductor.
• Richardson SE Target (Hatchet Lake North):
  • Located on the Athabasca basin margin, straddling the interpreted extents of the Laroque conductive corridor.
  • Contains over 5 km of untested electromagnetic conductor strike length.
  • Recent ground gravity survey results are being integrated with geological and EM data to refine targets.
• Strategic Context:
  • Company holds an option from Denison Mines to earn up to 70% interest in 10 prospective uranium properties (up to 51% for Hatchet Lake) spanning over 330,000 acres.
  • Exploration strategy leverages Denison’s historical drilling and geophysical data.
  • Company also holds lithium projects in Manitoba and Quebec.

Notable Quotes

• Jason Barnard, President and CEO: "This upcoming 5,000-metre drill program represents a significant next step at Hatchet Lake and is designed to systematically follow up on the TF-25-16 discovery... With multiple drill-ready targets now defined and with the benefit of Denison Mines' historical drilling and geophysical work... we believe the timing is ideal to execute a focused winter program, particularly with uranium prices recently reaching the $100-(U.S.)-per-pound level."