Foremost to begin 2,500 m drill program at Jean Lake

Executive Summary

• Foremost Clean Energy Ltd. announced a new up-to-2,500-metre diamond drill program at its 100%-owned Jean Lake gold-lithium property in Manitoba, scheduled to commence before the end of September 2025.
• The program aims to expand known high-grade gold and lithium mineralization identified in previous campaigns, capitalizing on record gold prices and leveraging operational efficiency alongside concurrent drilling at the Murphy Lake South uranium property.
• The release highlights significant historical intercepts from the 2022-2023 campaign, including high-grade gold zones and lithium-bearing spodumene, to justify the strategic expansion of the project.

Key Details

• New Drill Program Scope:
  • Up to 2,500 metres of diamond drilling.
  • Up to 20 holes planned.
  • Location: Jean Lake gold-lithium property, near Snow Lake, Manitoba.
  • Start Date: Before the end of September 2025.
  • Objective: Expand known high-grade gold and lithium mineralization.
• Concurrent Operations:
  • Drilling at Jean Lake runs concurrently with ongoing drilling at the Murphy Lake South uranium property in the Athabasca basin, Saskatchewan.
• Property Status:
  • Foremost holds a 100% interest in Jean Lake, having earned the interest on July 16, 2025 (optioned in July 2021).
  • Located in the Flin Flon-Snow Lake greenstone belt, a proven gold jurisdiction (near Hudbay Minerals' Lalor mine).
• Historical Drill Results (2022-2023 Campaign):
  • Gold Intercepts:
    • Hole FM23-8: 7.50 g/t Au over 7.66 m (from 94.35 to 102.01 m), including 102.0 g/t Au over 0.48 m (from 94.77 to 95.25 m).
    • Hole FM23-04A: 11.27 g/t Au over 2.75 m (from 73.75 to 76.50 m), including 91.8 g/t Au over 0.32 m (from 74.74 to 75.06 m).
    • Hole FM23-01A: 2.46 g/t Au over 3.70 m (from 41.30 to 45.00 m).
  • Lithium Intercepts:
    • Hole FM23-01A: 1.26% Li2O over 3.35 m from surface.
  • General Findings: Previous program intersected gold mineralization in eight drill holes, extending from surface to 110 metres depth, and identified lithium at the B1 spodumene-bearing pegmatite.
• Strategic Context:
  • CEO Jason Barnard cited gold prices surpassing $3,680 USD/oz as a driver for maximizing shareholder value.
  • The company describes a "multiasset model" providing capital-efficient leverage between uranium and gold/lithium assets.

Notable Quotes

• "With gold achieving historic highs by surpassing $3,680 (U.S.) per ounce, we made a strategic decision to maximize shareholder value by capitalizing on an extraordinary market opportunity." — Jason Barnard, President and CEO
• "Our multiasset model is designed for exactly this scenario. While uranium continues to anchor our long-term vision in the face of transformative global demand, these parallel drill programs provide exceptional, capital-efficient leverage." — Jason Barnard, President and CEO