Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY ANNOUNCES SIGNING OF EXPLORATION AGREEMENT WITH KICIWAPA CREE NATION, MANITOBA

Foremost Clean Energy Ltd. has signed an exploration agreement dated Feb. 24, 2026, during a ceremony held on Feb. 24, 2026, in Flin Flon, Man., with the Kiciwapa Cree Nation supporting responsible mineral exploration within KCN's traditional and ancestral territory in Manitoba. The agreement establishes a formal framework for how the parties will work together in a manner grounded in transparency, continuing communication, environmental responsibility and meaningful community engagement.

Jason Barnard, president and chief executive officer of Foremost, commented: "We are proud to formalize this exploration agreement with Kiciwapa Cree Nation. From the outset, our objective has been to build a relationship rooted in trust, transparency and mutual respect. This agreement reflects a shared commitment to respectful collaboration and to ensuring exploration activities are carried out in a way that aligns with KCN's values and priorities. Both parties have undertaken to create a clear and predictable framework for how exploration will proceed, with environmental responsibility, meaningful engagement and tangible participation opportunities at its core.

"We view this as the foundation of a long-term partnership and are committed to ensuring that KCN's interests, knowledge and priorities are integrated into our exploration activities within their traditional and ancestral territory."

Janessa Kosar North, chief executive officer of Kiciwapa Cree Nation, stated: "This agreement reflects the kind of partnership we believe responsible development should be built on: grounded in transparency, early engagement and mutual respect. For Kiciwapa Cree Nation, exploration within our traditional and ancestral territory must honour our connection to the land while creating meaningful opportunities for our members.

"We appreciate Foremost's commitment to working collaboratively within a clear framework for communication, environmental stewardship and community participation, and we look forward to continuing this relationship in a way that supports shared responsibility and long-term benefit."

The agreement outlines processes for advance notice of on-the-ground exploration activities, regular engagement and information sharing. It includes measures intended to support environmental and cultural stewardship, such as opportunities for KCN to conduct environmental and cultural monitoring during certain exploration activities and engagement of elders and community representatives where appropriate. The agreement is also intended to support economic participation for KCN and its members through employment, training and contract opportunities for KCN businesses. The agreement includes financial commitments designed to support community engagement and economic development, including financing for consultation and engagement, certain community-led capacity initiatives, and annual contributions to the KCN Economic Development Fund.

About Foremost Clean Energy Ltd.

Foremost is a North American uranium and lithium exploration company strategically positioned to support the accelerating demand for reliable, carbon-free energy. As artificial intelligence, data centres and electrification drive unprecedented growth in global power consumption, the expanding need for reliable nuclear baseload power creates a direct and critical imperative for the sustained exploration required to secure its uranium feedstock.

The company holds an option from Denison to earn an up-to-70-per-cent interest in 10 prospective uranium properties (except for the Hatchet Lake, where Foremost can earn up to 51 per cent), spanning over 330,000 acres in the prolific, uranium-rich Athabasca basin region of Northern Saskatchewan. The company employs a data-driven exploration strategy supported by extensive historic drilling and geophysical data across its portfolio, including programs completed by Denison providing a validated road map and competitive advantage for targeting high-potential, mineralized trends. To date, Foremost has completed geophysical surveys and multiple drill campaigns that have generated encouraging results and defined high-priority, discovery-ready targets for follow-up drilling.

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, providing exposure to other critical materials underpinning electrification and energy storage.

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