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

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has received a three-year exploration permit from the Saskatchewan Ministry of Environment for its Hatchet Lake Uranium Project located in the Athabasca Basin region. The permit authorizes the company to conduct up to 50 drill holes through December 2028, marking a significant regulatory milestone for the uranium exploration company.

The company has announced plans for a 3,000-metre Phase 2 drill program scheduled for winter 2025–2026. This program will follow up on the Tuning Fork discovery and test additional high-priority targets that have been advanced through historic work conducted by Denison Mines. The exploration initiative represents a strategic step forward in Foremost's systematic approach to uranium discovery in one of the world's most prolific uranium regions.

CEO Jason Barnard emphasized the critical importance of uranium in meeting growing global clean energy demand. As nations worldwide transition toward carbon-free energy sources, domestically mined uranium is positioned for dynamic growth, playing an essential role in the future energy landscape. The Athabasca Basin region of northern Saskatchewan, where Foremost holds substantial land positions, is recognized globally for its high-grade uranium deposits and mining-friendly jurisdiction.

Foremost Clean Energy maintains an option to earn up to a 70% interest in 10 prospective uranium properties across the Athabasca Basin, with the exception of the Hatchet Lake project where the company can earn up to 51%. These properties span over 330,000 acres in the uranium-rich region. The company's projects range from grassroots exploration to advanced stages with significant historical exploration data and drill-ready targets.

The exploration permit approval comes at a time when global uranium markets are experiencing renewed interest driven by increasing nuclear energy adoption as part of decarbonization strategies. The company's mission focuses on making significant discoveries through collaborative efforts with Denison, utilizing systematic and disciplined exploration programs. Additional information about the company's developments can be found at https://ibn.fm/FMST.

Beyond its uranium portfolio, Foremost Clean Energy also maintains lithium projects across more than 55,000 acres in Manitoba and Quebec, positioning the company across multiple critical minerals essential for clean energy technologies. The convergence of regulatory approvals, strategic land positions, and growing market demand creates a favorable environment for the company's exploration activities in northern Saskatchewan's established uranium district.