Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY ADVANCES DUAL DRILLING CAMPAIGNS ON ITS MURPHY LAKE SOUTH URANIUM PROJECT AND ITS JEAN LAKE GOLD-LITHIUM PROJECT

Drilling remains under way at Foremost Clean Energy Ltd.'s Murphy Lake South uranium property in the eastern Athabasca basin, Saskatchewan, and the company has also commenced its 2,500-metre diamond drill program at its 100-per-cent fully owned Jean Lake gold-lithium property in Snow Lake, Man.

Murphy Lake uranium program

The eight-hole 2,500-metre diamond drill program at Murphy was announced earlier this month on Sept. 2, 2025, located in the world-renowned Athabasca basin region of Northern Saskatchewan. Drilling is currently testing high-priority targets for unconformity-style uranium mineralization following up on historic uranium mineralization intersected by Denison Mines Corp. Murphy is located in a highly prospective area in the Athabasca basin and is adjacent to the Larocque Lake conductive corridor, host to IsoEnergy's Hurricane deposit, one of the world's highest-grade published indicated uranium resources of 48.6 million pounds triuranium octoxide at 34.5 per cent U3O8 and inferred resource of 2.7 Mlb at 2.2 per cent U3O8.

"Running two active drill programs in parallel on two different commodities, in two different regions, is an exceptional opportunity that few uranium explorers can execute well," Foremost's president and chief executive officer Jason Barnard commented. "Our shareholders are invested in Foremost for its uranium potential. By simultaneously advancing a high-grade gold asset that we already own 100 per cent of, we are effectively using the gold market's momentum to build a stronger, better-funded uranium company. Every metre drilled at Jean Lake derisks that asset and adds potential value that supports our primary goal in the Athabasca basin. This program underscores Foremost's primary commitment: advancing its uranium portfolio at a time of historic strength in the sector. We're positioned to deliver catalysts from multiple fronts while maintaining our core commitment to uranium exploration. Our shareholders get the upside of both critical mineral stories without dilution of our uranium focus."

The company utilized an ambient noise tomography survey to generate 3-D velocity models to optimize drill hole placement at Murphy. The ANT survey provides a much sharper picture of the subsurface architecture, which further refines targets. Results of the ANT survey were processed to generate a 3-D velocity model of the subsurface to enhance targeting confidence by imaging structural offsets, fault zones and alteration halos in both the sandstone and basement rocks. Similar surveys in the Athabasca basin have demonstrated the ability to identify velocity anomalies that correlate with known uranium deposits, such as IsoEnergy's Hurricane deposit.

Jean Lake gold-lithium program -- building on four years of work

The current 20-hole, 2,500-metre drill program at Jean Lake is designed to expand known high-grade zones, validate historical drilling and define the broader mineralized system across the property. It is the culmination of systematic exploration work conducted since 2021, derisking the property ahead of this second round of drilling, and can be broken out in five phases:

• Phase 1 (2021: initial discovery and prospecting): Field prospecting identified spodumene-bearing pegmatites, with rock chip sampling returning 5.17 per cent lithium oxide and 20.9 grams per tonne gold, confirming Jean Lake's potential for both lithium and gold.
• Phase 2 (2021 and 2022: geophysical and geochemical targeting): A 483.4-line-kilometre unmanned aerial vehicle magnetic survey, combined with soil geochemistry and mapping, defined multiple high-priority anomalies.
• Phase 3 (2022 and 2023: maiden drill program): A 3,002-metre program tested 14 targets, intersecting new mineralization, including high-grade gold and lithium intercepts, including 7.50 grams per tonne gold over 7.66 metres (including 102.0 grams or 3.28 ounces per ton gold over 0.48 metre) in drill hole FM23-8 and 1.26 per cent Li2O over 3.35 m in drill hole FM23-04A from surface (see press release dated Jan. 16, 2025, for full details).
• Phase 4 (2023: target refinement): Additional mapping and chip sampling confirmed mineralization, with assays up to 1.86 per cent Li2O (see Oct. 12, 2023, for full sample results);
• Phase 5 (current drill program 2025: follow-up and expansion): The newly commenced drill program will step out from known intercepts to test continuity and expansion of high-grade zones.

The 2,476-acre/1,002-hectare Jean-Lake property is located near the historic mining centre of Snow Lake, Man., within the Proterozoic Flin-Flon-Snow Lake greenstone belt of the Canadian Shield. This area is known for hosting world-class gold and gold-rich base metal deposits and for the development of lithium resources. The area is currently active with other mineral companies exploring for gold, and is just miles away from Hudbay Minerals' core operating area, which has produced more than one million ounces of gold at its Lalor mine.

Foremost's 2025 Jean Lake diamond drill program

Planned drilling will focus on following up the strong results from the Jean Lake 2022/2023 drill program, which showed favourable gold and lithium intercepts. The program aims to assess the potential for additional gold mineralization at depth as well as to create a lithostructural framework of the gold system along the Valkyrie trend. The company will also target the B1 spodumene-bearing pegmatite, where earlier drilling intersected 1.26 per cent Li2O over 3.35 metres near surface, with the aim of delineating and expanding the extent of this mineralized body.

Qualified person

The technical content of this news release has been reviewed and approved by Cameron MacKay, PGeo, vice-president of exploration for Foremost, 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 Clean Energy Ltd.

Foremost is a rapidly growing 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 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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