Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY ANNOUNCES 3-YEAR EXPLORATION DRILL PERMIT FOR MURPHY LAKE SOUTH URANIUM PROPERTY; TARGETING SUMMER DRILL PROGRAM

Foremost Clean Energy Ltd. has received a three-year exploration permit from the Saskatchewan Ministry of Environment for the Murphy Lake South property, located in the world-renowned Athabasca basin region of Northern Saskatchewan. The permit, valid until Dec. 31, 2027, allows the company to conduct mineral exploration activities, including geochemical surveys, geophysics and drilling of up to 30 holes. Foremost is currently planning the final details of a fully financed summer drill program.

Jason Barnard, Foremost's president and chief executive officer, stated: "The receipt of this permit is exceptionally well timed. Murphy is strategically positioned within and alongside the LaRocque Lake conductive corridor that hosts the high-grade Hurricane deposit. Our property shares several geological characteristics with those found at Hurricane, including graphitic basement structures and shallow depth to the unconformity. Historical drilling at Murphy between 2008 and 2017 has already intersected anomalous uranium and pathfinder elements, which are indicative of a potentially significant mineralizing system. With this permit in hand and significant historic exploration information obtained from previous work completed on the property by Denison Mines Corp., we are in an enviable position where we are finalizing plans for a summer drill program with several exciting discovery-ready drill targets."

Mr. Barnard continued: "We are also pleased to have David Cates, president and CEO of Denison, join us for today's webinar as we update the market on our exploration progress and strategic collaboration.

"Together, we will detail our plans to develop and drive growth on this prospective uranium portfolio, as well as provide investors a unique opportunity to engage with us directly during the live Q&A session."

Murphy is composed of six mineral claims totalling 17,676 acres/7,153 hectares, located approximately 30 kilometres northwest of the McClean Lake mill toward the eastern edge of the Athabasca basin region in Northern Saskatchewan. The property is proximal to La Rocque Lake conductive corridor, which is host to multiple occurrences of high-grade uranium mineralization, including the Alligator zone, Larocque Lake zone and IsoEnergy's Hurricane deposit, which is amongst the world's highest-grade uranium deposits with estimated indicated mineral resources of 48.6 million pounds triuranium octoxide from 63,800 tonnes at an average grade of 34.5 per cent U3O8.

Murphy is considered highly prospective due to its geological setting, which shares several similarities with the geological conditions present in proximity to the Hurricane deposit. Notably, the property is highlighted by the following features:

• Proximity to the LaRocque conductive corridor: a major conductive trend of graphitic rocks known to host complex structure and control high-grade uranium mineralization;
• Shallow unconformity: the interface between the sandstone and basement rocks is relatively shallow (approximately 200- to 350-metre depth), making it cost-effective to drill;
• Mineralization: a mineralized system has already been identified on the property, with 400 metres of strike length open in both the east and west directions:
  • Drilling in 2015 (MP-15-032) intersected 0.25 per cent U3O8 over six metres;
  • Drilling in 2008 (MP-08-013) intersected 618 parts per million uranium and 757 ppm U in two 20-centimetre zones;
  • Weak mineralization intersected in 2016, averaging 0.03 per cent U3O8 over 22.5 metres from 255 metres to 277.5 metres in MP-16-174;
  • Drill results immediately above the unconformity in 2016 (MP-16-11) intersected 0.13 per cent U3O8 over 12.5 metres;
• Alteration: the elevated uranium assays are paired with anomalous pathfinder elements, fault structures and strong alteration indicating classic unconformity-style mineralization in a significant hydrothermal system;
• Untested basement potential: historical drilling on the property primarily targeted mineralization at or near the unconformity; strong potential for mineralization exists in the faulted basement rocks;
• Offset unconformity: up to 96 metres of vertical displacement of the unconformity has been identified at Murphy; basement wedges are a common feature of significant uranium deposits and are considered prime targets for further exploration;
• Conductive trends on property: ground geophysics has identified conductive packages that are thought to represent graphitic metasediments, prime targets for uranium mineralization.

Planned exploration program

Foremost is planning a two-phase drill program to test high-priority targets:

• Phase 1 drilling (summer 2025): approximately 1,500 metres of diamond drilling targeting the unconformity and underlying basement rocks along semi-brittle graphitic faults; these targets were identified from historical drilling and geophysical surveys, where anomalous uranium and pathfinder elements were detected.
• Phase 2 drilling (winter 2025/2026): follow-up drilling to test geophysical anomalies (including electromagnetic conductors) and any targets generated from phase 1 results; this phase will focus on identifying brittle structures and graphitic horizons with associated clay alteration, which are typical hosts for high-grade uranium in the Athabasca basin.

The combination of strategic location, underexplored basement potential and systematic geological indicators makes Murphy a high-priority project within Foremost's 10-project uranium exploration portfolio.

Shareholder webinar reminder: live corporate update and questions and answers -- featuring Denison's president and chief executive officer

Foremost invites all shareholders, analysts and interested investors to join its live virtual corporate update today, June 5, 2025, hosted by Red Cloud Financial Services. The event will feature special participation from Mr. Cates, alongside Mr. Barnard.

Event details

Date:  Thursday, June 5, 2025

Time:  2 p.m. ET and 11 a.m. PT

The company intends to provide insights on business strategy, as well as its recent results and plans, for its unique portfolio of 10 Athabasca basin uranium exploration properties optioned from Denison.

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