Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY ANNOUNCES PLANS FOR IMMEDIATE FOLLOW-UP DRILL PROGRAM AT HATCHET URANIUM PROJECT

Foremost Clean Energy Ltd. is planning an eight-hole, approximately 2,000-metre diamond drill program at the Hatchet uranium property, expected to commence later this month. Hatchet is located in the world-renowned Athabasca basin of Northern Saskatchewan and is a cornerstone project in Foremost's unique collaboration with Denison Mines Corp.

The results from the 2024 drill program, announced on Feb. 20, 2024, highlighted the presence of uranium mineralization at the Richardson trend and favourable structure, alteration, and anomalous geochemistry along the Tuning Fork conductor. With multiple high-potential targets identified in these areas, the 2025 drill program aims to expand known mineralization and test several areas prioritized for follow-up.

"We are excited to commence this next phase of exploration at Hatchet," said Jason Barnard, chief executive officer of Foremost Clean Energy. "Hatchet is already at a discovery-ready stage, with multiple high-priority targets identified and ready for follow-up. This is a key differentiator for Foremost, as the advanced stage of Hatchet reduces the risk and cost associated with early-stage exploration that would otherwise be required to generate compelling targets. The results from our 2024 drill program highlight the presence of uranium mineralization and associated hydrothermal systems, and this upcoming program is designed to further evaluate these promising targets.

"With significantly increasing global energy demands, nuclear power has become a leading choice amongst government and private power producers due to its unique mix of high reliability, reasonable cost and low carbon footprint. Nuclear power plants use uranium to generate power and industry experts are predicting that new uranium discoveries and ultimately new mines are needed to meet growing demand while existing sources of supply are dwindling. With potentially unprecedented additional growth coming from the deployment of small modular reactors (SMRs) and the adoption of nuclear power by global hyperscalers like Meta, Amazon, Google and Microsoft, uranium demand could increase significantly. This narrative speaks to the importance of Foremost's active exploration plans, which we look forward to providing updates on as the program progress."

Drill program overview

The 2025 Hatchet drill program is expected to target four to six high-potential locations within the Tuning Fork target area and along the Richardson trend. The program is expected to commence in March, and is fully financed and permitted.

Drill targets have been prioritized based on the following program objectives:

• Target those areas with confirmed uranium mineralization and coincident untested conductive anomalies identified through historical geophysical surveys;
• Conduct follow-up drilling to further evaluate anomalous geochemical signatures and structures highlighted from the 2024 drill results and historical data compilation;
• Evaluate undertested conductive trends, several of which are estimated to have more than 600 metres of untested discovery potential.

2025 drill targets

Drill targets on the Hatchet property are defined based on ground and airborne EM (electromagnetic) surveys, anomalous geochemistry, strong alteration and structures identified from previous drilling and surface geochemical methods (radon). Ten priority target locations have been identified for drill testing: four along the Tuning Fork conductor and six along the Richardson conductive trend.

Richardson target area:

• Drill hole RL-24-29: intersected 0.11 per cent U3O8 (901 parts per million (ppm) uranium (U)) over 0.2 metre from 81.2 to 81.4 metres, along with additional anomalous uranium mineralization below the unconformity, including:
  • 0.04 per cent U3O8 (354 ppm U) from 81.4 to 81.9 metres;
  • 0.04 per cent U3O8 (322 ppm U) from 78.3 to 78.6 metres;
• The Richardson trend is situated northeast of the Laroque conductive corridor, which hosts multiple high-grade uranium deposits, including IsoEnergy's Hurricane deposit (48.6M pounds (lb) U3O8 at 34.5 per cent U3O8 in indicated mineral resources).

Tuning Fork target area:

• Drill holes TF-24-11 and TF-24-12: Both holes intersected significant structural disruption and hydrothermal alteration, including intense clay alteration, hydrothermal hematite and a shear zone with graphitic-pyritic faults;
• TF-24-12: intersected semi-massive graphite from 200 to 211.5 metres, along with elevated levels of boron (up to 5,670 ppm), copper (up to 233 ppm), nickel (up to 387 ppm) and cobalt (up to 209 ppm), pathfinder elements potentially indicative of a uranium-mineralizing system;
• Untested conductors: The program will also target over 400 metres of untested conductor strike length in the Tuning Fork area. These conductors, identified through electromagnetic surveys, are interpreted to represent graphitic structures, often associated with uranium mineralization in the Athabasca basin.

Hatchet -- a strategic asset

The Hatchet uranium property spans approximately 10, 211 hectares or 25,232 acres in the heart of the Athabasca basin, which is one of the world's most prolific uranium producing regions, globally recognized to host some of the largest and highest-grade uranium deposits ever discovered. Hatchet's location in the northeastern part of the basin, with shallow unconformity depths ranging from zero to 250 metres and proximity to existing infrastructure, makes it an attractive property for exploration. Historical exploration, dating back to the 1960s, has identified radioactive boulders, conductive anomalies and hydrothermal alteration, and both historical and recent drilling have confirmed the presence of uranium mineralization, structural controls and hydrothermal alteration, all being key indicators of a uranium deposit.

In 2024, Foremost completed the first stage of an option agreement with Denison, whereby it can acquire a portion of Denison's interest in the Hatchet Lake joint venture to a maximum 51-per-cent interest in the property (see news release dated Oct. 7, 2024).

Additional developments

To enhance market awareness and generate investor interest, the company has engaged LFG Equities Corp. to execute a comprehensive marketing campaign over an initial two-month period commencing March 4, 2025, for total investment of $50,000 (U.S.), with automatic monthly renewals subject to termination with 14 days of notice. The campaign is designed to significantly amplify the company's visibility within the investment community through targeted social media campaigns, strategic on0line media placements and impactful newsletter distribution.

LFG is expected to broaden Foremost's reach, attract new investors and ultimately increase the company's visbility by effectively communicating the company's unique value proposition and future catalysts to a wider audience. LFG is located at 402, 9140 Leslie St., Richmond Hill, Ont., (phone: 514-577-0929, e-mail: ernest@lfgequities.com). Its directors and officers maintain an arm's-length relationship with the company, and currently hold no direct or indirect ownership interest in the company or its securities.

Qualified person

Technical information in this news release regarding Hatchet has been reviewed and approved by Jody Dahrouge, PGeo, of Dahrouge Geological Consulting Ltd., Foremost's chief technical adviser, who is a qualified person as identified by Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Foremost Clean Energy Ltd.

Foremost is a rapidly growing North American uranium and lithium exploration company. The company holds an option to earn up to a 70-per-cent interest in 10 prospective uranium properties (with the exception of the Hatchet, 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 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.

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