Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY COMMENCES SITE PREPARATION FOR 2025 DRILL PROGRAM AT HATCHET URANIUM PROJECT

The 2025 winter exploration program at Foremost Clean Energy Ltd.'s Hatchet Lake uranium project, located in the world-renowned Athabasca basin of Northern Saskatchewan, has commenced. The initial phase of the program is focused on site preparation, including modest clearing and set-up of the areas targeted for diamond drill testing, which is expected to begin in the coming days. The drill program is designed to follow up on encouraging results from previous drill programs completed by Denison Mines Corp., Foremost's largest shareholder and strategic ally, including multiple intersections of uranium mineralization.

Foremost's chief executive officer and president, Jason Barnard, comments: "We are very pleased to launch Foremost's initial exploration program at Hatchet, which is designed to drill-test high-priority targets. This project is well situated in the heart of the eastern Athabasca basin, which has allowed Foremost to quickly develop a winter field program by making use of the significant existing infrastructure in the region -- most notably the facilities at Points North Landing located near Denison's 22.5-per-cent-owned McClean Lake mill. We expect to have a drill turning in the not-too-distant future and are looking forward to keeping the market up to date with results.

"Foremost's pivot to uranium exploration is well timed, as the uranium market is at a critical juncture, with increasing demand for nuclear power, driven by the global energy transition, the rise of AI and the need for reliable baseload electricity, met by a shortfall of primary uranium production, requiring new sources of supply to be developed and discovered. Over 30 countries and 160 corporations have pledged to triple nuclear power capacity by 2050, but due to several years of low uranium prices, uranium supply is struggling to keep pace. This imbalance has created a historic opportunity for uranium producers, developers and explorers, particularly in stable jurisdictions like Canada. With supply tight, demand increasing and government policies shifting, nuclear energy, and uranium are poised for a promising future.

"On a corporate note, and on behalf of Foremost and its board of directors, I would like to take this opportunity to recognize and sincerely thank Johnathan More for his valuable contributions and leadership during his time on our board, and wish him continued success in his future endeavours."

Hatchet Lake drill program

The initial program is planned to consist of 2,000 metres of diamond drilling in eight drill holes with target depths of approximately 250 metres each. Drilling is expected to focus on two high-priority target areas: Tuning Fork and Richardson.

The program is designed to target sandstone-hosted and basement-hosted uranium mineralization along conductive trends/corridors with known and interpreted fault structures identified by previous drilling, airborne and ground electromagnetic (EM), and magnetic geophysical surveys. This targeting methodology aims to maximize the likelihood of intersecting high-grade uranium mineralization similar to existing notable deposits (Cigar Lake, McClean Lake and McArthur River) in the Eastern Athabasca basin.

Drill target priority

Drill targets have been prioritized to follow up in areas where previous results with confirmed uranium mineralization are coincident with untested conductive anomalies identified through historical geophysical surveys. The intent is to expand known mineralization and discover additional mineralization by testing several high-potential areas prioritized for follow-up on completion of the 2024 exploration program (see press release March 4, 2025). Key areas of focus include:

• Two thousand twenty-four drilling identified mineralization of up to 0.11 per cent U3O8 (triuranium octoxide) (RL-24-29) along the Richardson conductor. Two thousand twenty-five drill holes intend to test the extent of the mineralized zone to the NW (northwest) along the conductive trend. Basement mineralization potential remains untested SE (southeast) of this zone and is also a priority for 2025.
• Numerous untested EM conductors exist (up to 700 metres of strike length) over the Richardson claim. Uranium mineralization, alteration and anomalous geochemistry is proven along tested conductors, which demonstrates the discovery potential of Hatchet. The 2025 drilling campaign plans to test potential sources of the geochemical anomaly.
• Strongly anomalous geochemistry and graphitic brecciated shear zones intersected in 2024 along the Tuning Fork trend warrant additional drilling and 2025 drill testing is expected to focus on the up-dip projection of the structure intersected in TF-24-12.
• Planned drill holes target west of the historical mineralization in HL-10-01 (0.1 per cent U3O8 over one metre at 183-184 metres and 0.02 per cent U3O8 over one metre at 186 to 187 metres) in a nine-metre fault intersection and recently identified elevated pathfinder elements encountered in TF-24-11.

Historical drilling (HT-83-61) contains a five m (100 to 105 m) sample of base metal mineralization associated with strong radioactivity in a breccia zone. Structural information is required on this interval and is also expected to be collected as part of the planned drill program. HT-83-61 is a notable historic result, due to its high-grade nickel and cobalt contents, summarized below:

• 4.9 per cent Ni (nickel);
• 6.06 per cent Co (cobalt);
• 47.6 per cent As (arsenic);
• Radiometric peak at 980 cps (counts per second) in down hole probe.

By strategically targeting interpreted structures and conductive breaks identified through ground geophysics, the exploration program aims to maximize the potential for discovery in these high-priority areas.

The Hatchet advantage -- shallow depth exploration

Hatchet is located within 1.5 kilometres of the Athabasca basin margin, which results in shallow sandstone cover (less than 220 metres) and corresponding shallow exploration targets, enabling efficient and cost-effective drill testing. The upcoming 2025 drill campaign plans to capitalize on this advantage, including multiple drill holes to advance the evaluation of several target areas -- each of which are highly prospective and have potential for discovery or which will benefit in future drill programs from additional reconnaissance.

Business developments

Foremost would like to announce that Johnathan More shall resign from the board of directors of the company, effective April 1, 2025, to spend more time on his other endeavours. The board of directors would like to thank Mr. More for his valuable contributions and wishes him every success in the future. The board is currently evaluating alternatives with respect to appointing a new independent director to fill the vacancy left by Mr. More's departure.

Strategic adviser

Pursuant to a services agreement whereby Foremost has engaged a strategic adviser for support with United States capital markets, Foremost has granted 83,333 stock options, and shall issue 62,500 common shares of the company at a deemed price of $1.20 per share. The options are exercisable at a price of $1.20 per share and valid for a term of three years. The options have been granted in accordance with the company's stock incentive plan and the policies of the Canadian Securities Exchange and Nasdaq. The shares and options are subject to statutory four-month hold period and are subject to CSE and Nasdaq approvals.

Qualified person

The technical content of this news release has been reviewed and approved by Jordan Pearson, PGeo, project geologist for Dahrouge Geological Consulting Ltd., and a qualified person under National Instrument 43-101, who has prepared and reviewed the content of this press release.

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 Clean Energy Ltd.

Foremost Clean Energy 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 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 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.