Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT), is pleased to announce that it has the receipt of assay results for the first two drillholes, JL25-001 and JL25-002 from its 2025 drill program currently underway at its 100%-owned Jean Lake Gold–Lithium Property located near the historic mining centre of Snow Lake in Manitoba. Both holes, JL25-001 and JL25-002, successfully intersected multiple gold-bearing zones along the Valkyrie Trend (see figure 1). These results have confirmed a larger mineralized system than previously defined, notably extending the known boundaries of the gold-bearing structure. Highlights include:

• JL25-002: 10.7 g/t Au over 5.6 m from 100.5 m, including 82 g/t Au over 0.7 m
• JL25-001: 12.7 g/t Au over 2.07 m from 118.18 m, including 40 g/t Au over 0.6 m
• JL25-002: 5.0 g/t/Au over 2.2 m from 113 m including 21 g/t Au over .5m

The assay results from the initial two drillholes, JL25-001 and JL25-002, have successfully defined a mineralized footprint that extends beyond the area of the previous discovered initial drill hole JL23-008 (7.50 g/t Au over 7.66m, including 102.0 g/t Au over 0.48 metres, as previously reported (See News Release June 6, 2023)).

Jason Barnard, Foremost’s President and CEO, commented: “We are extremely encouraged that the first two holes of our 2025 program have exceeded our expectations and further demonstrate the exceptional potential of our Jean Lake Project. The presence of multiple high-grade intercepts, highlighted by an exceptional 82 grams per tonne result, strongly validates the high-grade nature of the mineralizing system.

With the gold prices recently testing historic highs over US $4,000 per ounce, the timing of this high-grade discovery is optimal for Foremost. At a time of record gold prices, we are advancing a high-grade gold discovery at Jean Lake. Amid a bullish gold market, Foremost’s high-grade discovery at Jean Lake represents a potential powerful growth catalyst and a truly exciting time for our company.

Our drill program is ongoing, and we are eagerly anticipating the remaining results from this season’s campaign, which includes further drilling on these gold targets as well as our first systematic testing of the property’s significant lithium potential. We look forward to building upon this positive geological framework for both commodities and further assay results.” 

Figure 1. Jean Lake 2025 DDH Compilation Map

2025 Drill Program Objectives

The ongoing 2025 drill program is designed to build on the high-grade gold and lithium discoveries from previous campaigns. The primary objectives are to test the extent of the gold-bearing Valkyrie Trend along strike and at depth, and to delineate the near-surface, spodumene-bearing B1 Pegmatite. Assay results for JL25-001 and JL25-002 are found in Table 1.

Table 1 – Summary of Significant Gold Intercepts

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¹ JL25-001 was drilled with an azimuth of 245° a dip of -45 ° located at 452872 E, 6076541N (NAD83 Zone 14)
² JL25-002 was drilled with an azimuth of 245° a dip of -60 ° located at 452877 E, 6076539N (NAD83 Zone 14)

Picture 1. Drill core from the high-grade intercept in hole JL25-001 

Next Steps

The results from the first two holes strongly validate Foremost’s exploration model. As the Company advances its 2025 program, drilling continues with step-out holes along the Valkyrie Trend and initial testing of additional lithium-bearing pegmatite targets. Assay results for these subsequent holes are pending.

Sampling, Analytical Methods and QA/QC

All drill core samples from the Jean Lake gold drilling program were collected as NQ-sized core. In zones of visible quartz-veining, sericite alteration, and arsenopyrite mineralization, samples were typically taken at 50 cm intervals. Outside of these zones, holes were continuously sampled at 1.5 m intervals. All core was sawn longitudinally, with one half retained on site for reference and the other half submitted for analysis. Samples were shipped to SGS Canada Inc., Burnaby, British Columbia, for sample preparation and analysis.

At SGS, samples were dried at 105°C, crushed to 75% passing 2 mm, and pulverized to 85% passing 75 microns (method PRP89). Gold analyses were performed by 30 g Fire Assay with Atomic Absorption Spectrometry finish (method GE_FAA30V5) with a detection range of 5–10,000 ppb Au. Samples returning values above the upper detection limit were re-assayed by 30 g Fire Assay with Gravimetric finish (method GO_FAG30V) with a reporting range of 0.5–10,000 ppm Au. Multi-element geochemical analyses were completed using the 57-element sodium peroxide fusion ICP-AES/ICP-MS package (method GE_ICM91A50), which provides detection limits suitable for trace-level pathfinder elements such as As, Sb, and W relevant to gold mineralization. Analytical work was performed at SGS’s ISO/IEC 17025-accredited facilities, which operate under strict internal QA/QC protocols.

Quality control procedures at SGS include the routine insertion of blanks, certified reference materials (standards), and duplicates at a minimum frequency of 11–12% of all analyses, depending on method and grade classification. Laboratory quality is monitored through SGS’s SLIM Laboratory Information Management System, which automatically flags data exceeding internal precision or accuracy thresholds and triggers reanalysis when necessary.

Foremost’s internal QA/QC protocol includes the insertion of field duplicates, certified standards, and blanks into the sample stream at regular intervals to independently monitor analytical precision and contamination.

All reported intervals represent downhole lengths, and true thicknesses have not yet been determined.

Qualified Person

The technical content of this news release has been reviewed and approved by Cameron MacKay, P. Geo., Vice President of Exploration for Foremost Clean Energy Ltd., and a Qualified Person under National Instrument 43-101.

A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.

About Foremost

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option from Denison Mines Corp. to earn up to 70% interest in 10 prospective uranium properties (except for the Hatchet Lake, where Foremost can earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost’s uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company’s mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs.

Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company’s website at www.foremostcleanenergy.com.

Contact and Information

Company
Jason Barnard, President and CEO
+1 (604) 330-8067
info@foremostcleanenergy.com

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