Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 217

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 19
Chunk 217
---
 during the year ended March 31, 2024.

Grass River Property

During the year endedMarch 31, 2022, the Company staked claims on the Grass River Property in the Snow Lake area of Manitoba for $40,500. During the year endedMarch 31, 2023, the Company staked additional claims for $3,000. During the year endedMarch 31, 2024, the Company staked additional claims for $1,755. During the year endedMarch 31, 2025, the Company incurred $130(2024-$1,755; 2023-$Nil) in claim filing fees.

Jol Lithium Property

During the year endedMarch 31, 2023, the Company entered into an agreement and acquired a100% interest in theMB3530claim located in the Snow Lake area of Manitoba. To earn the interest, the Company paid $8,000and issued $2,454in shares (364shares issued). During the year endedMarch 31, 2025, the Company incurred $638in filing of claim fees. The property is subject to a2% NSR.

Peg North Property

During the year endedMarch 31, 2023, the Company entered into an option agreement to acquire a100% interest in the Peg North claims located in the Snow Lake mining district in Manitoba. Under the terms of the option agreement (the "First Option"), in consideration for making aggregate cash payments of $750,000, issuing Strider Resources Limited (“ Strider”) common shares having an aggregate value of $750,000, and incurring an aggregate of $3,000,000in exploration expenditures on or before the fifthanniversary, the Company has the right to acquire a100% interest in the Peg North Claims, subject only to a2% net smelter return royalty granted to Strider (the "NSR"). The obligations under the First Option can be considered fulfilled under the terms as outlined in the schedule below:

  cash payments of $ 750,000 as follows:  

  a cash payment of $ 100,000 on or before June 23, 2022 ( paid);  

  ii)      a cash payment of $ 100,000 on or before June 28, 2023 ( paid);  

  iii)      a cash payment of $ 100,000 on or before June 28, 2024 ( paid);  

  iv