Foremost receives 3-year drill permit for Hatchet Lake

Executive Summary

• Foremost Clean Energy Ltd. received a three‑year exploration permit from the Saskatchewan Ministry of Environment for its Hatchet Lake uranium project, authorizing up to 50 drill holes through Dec 28 2028.
• The company is planning a 3,000‑metre winter drill program (2025‑2026) to expand the recent “New Tuning Fork” discovery and test high‑priority historic targets on the Richardson trend and Beta Grid.
• The permit provides significant runway for exploration in the Athabasca Basin, positioning Foremost to pursue additional uranium discoveries that could support projected nuclear fuel demand.

Key Details

• Permit Scope: 3‑year term (until 28 Dec 2028); up to 50 drill holes permitted on Hatchet Lake property.
• Planned Drill Program: ~3,000 m total length slated for winter 2025‑2026.
• Target Objectives:
• Expand “New Tuning Fork” discovery – Hole TF‑25‑16 intersected 0.10 % eU₃O₈ over 6.5 m (including 0.22 % eU₃O₈ over 0.9 m); assay results pending.
• Test high‑priority targets on the Richardson trend originally identified by Denison Mines Corp.
• Drill the “Beta Grid” area where historic drilling indicated a 35 m unconformity offset.
• Strategic Rationale: Permit provides runway to rapidly follow up positive results and address growing uranium demand driven by SMR deployment forecasts (≈700 GW by 2050) and rising energy needs of the digital economy.
• Qualified Person Review: Technical content approved by Cameron MacKay, P.Geo., VP Exploration, under NI 43‑101; historic data not fully verified but considered indicative of potential.

Notable Quotes

“Securing this three-year permit is an important milestone… it provides Foremost with significant runway to explore this highly prospective property and rapidly follow‑up positive results,” – Jason Barnard, President & CEO, Foremost Clean Energy Ltd.