Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY COMMENCES 2026 WINTER DIAMOND DRILL PROGRAM AT HATCHET LAKE URANIUM PROJECT

Foremost Clean Energy Ltd. has commenced its planned approximately 5,000-metre winter diamond drill program at the company's Hatchet Lake uranium project, located in the eastern Athabasca basin region of Northern Saskatchewan. Drilling is currently under way at the Tuning Fork target area, following up the company's 2025 uranium discovery in drill hole TF-25-16, which intersected 0.87 per cent U3O8 over 0.45 metre within a broader 6.2-metre interval averaging 0.10 per cent U3O8 at the Athabasca unconformity (see news release dated Oct. 29, 2025). As previously announced on Feb. 9, 2026, the program is designed to test along-strike and downdip continuity of mineralization, refine structural controls on uranium emplacement, and evaluate additional high-priority targets across Hatchet Lake South and Hatchet Lake North.

Jason Barnard, Foremost's president and chief executive officer, commented:

"We are pleased to confirm that drilling is now under way at Hatchet Lake as we advance the Tuning Fork discovery. This program is designed to build on the 2025 results by systematically testing continuity of mineralization at the Athabasca unconformity and refining the structural and alteration framework controlling uranium mineralization. With multiple drill-ready targets defined across the property, we look forward to executing a focused and results-driven winter campaign."

2026 winter drill program overview

Hatchet Lake comprises two claim blocks containing conductive corridors and structurally complex zones prospective for unconformity-related uranium mineralization. Drill targets were prioritized using Denison Mines Corp.'s historical drilling and geophysical data sets refined through Foremost's updated interpretation and conductor modelling to tighten target geometry ahead of drilling.

Tuning Fork target area -- Hatchet Lake South

Initial drilling will focus within the Tuning Fork target area, where the company made its 2025 discovery within a previously untested 600-metre gap between historic drill holes.

The current phase of drilling is designed to:

• Test along-strike and down-dip continuity of mineralization;
• Refine structural controls associated with uranium mineralization at the Athabasca unconformity;
• Test a recently identified EM (electromagnetic) conductor to the west of the 2025 uranium discovery.

Additional target areas

Subject to progress at Tuning Fork, the program is expected to test additional drill-ready targets at both Hatchet Lake South and Hatchet Lake North.

At Hatchet Lake South, the Beta grid represents a structurally controlled target characterized by interpreted displacement of the Athabasca unconformity associated with a conductive corridor. Structural disruption of this nature is widely recognized as a key control on uranium mineralization within the Athabasca basin.

At Hatchet Lake North, the Richardson SE (southeast) target encompasses more than five kilometres of untested electromagnetic conductor strike length along the basin margin. Recent ground gravity survey results are being integrated with existing data sets to refine drill targeting, with a focus on identifying zones of structural complexity and hydrothermal alteration.

Foremost believes that the combination of a confirmed unconformity-hosted uranium discovery at Tuning Fork and multiple additional structurally controlled targets positions Hatchet Lake as a compelling project for further uranium discoveries within the eastern Athabasca basin.

Qualified person

The technical content of this news release has been reviewed and approved by Cameron MacKay, PGeo, vic-president of exploration for Foremost Clean Energy and 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 Clean Energy is a rapidly growing North American uranium and lithium exploration company. The company holds an option from Denison Mines Corp. to earn up to a 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. 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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