Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY PROVIDES CLARITY AROUND HALT AND EFFECTIVE DATE

Foremost Clean Energy Ltd. has provided clarity as a result of a Canadian Securities Exchange bulletin issued yesterday, which indicated that the effective date of the previously announced spinout of its gold and silver properties into a new stand-alone public company named Rio Grande Resources Ltd., pursuant to a plan of arrangement, was anticipated to occur on Jan. 30, 2025.

The original bulletin did not reflect the updated anticipated effective date of Jan. 31, 2025, announced by Foremost in its news release of Jan. 29, 2025. The CSE issued since a revised bulletin today correcting the original bulletin and reflecting the correct effective date of the arrangement of Jan. 31, 2025.

However, as a result of the erroneous information circulated in the original bulletin, particularly in respect of the delisting of Foremost's common shares on Jan. 29, 2025, it was necessary to halt trading in the Foremost shares today.

With the anticipated effectiveness of the arrangement tomorrow, shareholders of Foremost immediately prior to the effective date will receive one new common share of Foremost and two common shares of Rio Grande for each common share of Foremost held as of the surrender date. The new Foremost shares will begin trading at that time.

About Foremost Clean Energy Ltd.

Foremost is an emerging North American uranium and lithium exploration company. The company holds an option to earn an up-to-70-per-cent interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51 per cent), 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 Mines Corp. 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-plus acres in Manitoba and Quebec.

We seek Safe Harbor.