Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 55

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 55
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 Epp Lake      S-113369                         372.11      1/31/2029                   $9,302.75      DENISON MINES CORP   

TOTAL NUMBER OF CLAIMS = 2 | TOTAL AREA = 2,137 acres (865 hectares)

Permitting and Licensing

The permitting process for the Epp Lake will adhere to the requirements of the Saskatchewan Ministry of Energy and Resources. This includes conducting environmental assessments and obtaining the necessary exploration permits prior to commencing drilling activities. Engaging with Indigenous communities and meeting consultation requirements will also be integral to successfully obtaining these permits. “ Project Overview - The Athabasca Uranium Properties - The Hatchet Lake Property - Permitting”.

Infrastructure

Accessibility to the Epp Lake Property is facilitated by existing transportation routes, including air access for personnel and supplies.

Developmental Activities

Future developmental activities for the Epp Lake Property will focus on following up on historical exploration results with drilling programs planned to further assess identified mineralization zones. The aim is to refine exploration targets based on the outcomes of previous sampling and geophysical data analysis.

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The GR Property

Figure 13. The GR Property

The GR Property consists of 16 mineral claims encompassing 19,487 acres (78,585 hectares), situated north of the Athabasca Basin, Saskatchewan. The property is centered on E 240,221 m and N 6,532,175 m (NAD83 UTM Zone 13N) and was stake in October 2024.

Geology

The property is strategically situated atop significant regional structures, specifically the Black Bay Fault and the Grease River Shear. The Black Bay Fault is known to host Beaverlodge-style deposits located north of the basin in the Uranium City area, indicating a favorable environment for uranium mineralization. Additionally, the Grease River Shear exhibits up to 7 kilometers of lateral offset, a characteristic attributed to post-Athabasca reactivation events. This structural complexity enhances the property's potential for hosting unconformity-style deposits, akin to those found at deposits such as Cigar Lake. The combination of these geologic features suggests that the GR Property is a promising target for uranium exploration, with a landscape conducive to significant mineralization potential.

Exploration Activities

While specific exploration activities on the GR Property have been limited, historical geophysical surveys indicate that the area presents optimal conditions for uranium exploration. Our plans include conducting airborne electromagnetic (EM) and magnetic surveys in summer 2025 to refine target identification for uranium mineral