Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 97

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 5
Chunk 97
---
 an important role in the clean energy mix of the future. 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, 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+ acres in Manitoba and Quebec.

80

MINERAL PROPERTIES

During the year ended March 31, 2025, the following exploration expenditures were incurred on the exploration and evaluation of the Company’s assets:

 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Acquisition costs                                                                                                                        
  Balance, March 31, 2024                1,338,793       1,909,407      250,000        45,255       11,730      400,000         4,082,338  
  Cash                                   99,189          -              50,000         130          638         100,000           249,957  
  Shares                                 -               -              50,000         -            -           100,000         6,866,449  
  Spin-out                               (1,437,982      -              -              -            -           -              (1,437,982  
  Balance,                               -               1,909,407      350,000        45,385       12,368      600,000         9,760,762  
  Exploration costs                                                                                                                        
  Balance, March 31, 2024                419,233         6,552,532      2,465,023      680,016      45,865      849,406        11,012,075  
  Assay                                  -               55,945         -              -            -           -                  55,945  
  Drilling                               -               42,950         -              -            -           -                 140,258  
  Geological, consulting, and other      28,940          629,875        8,792          -            6,000       31,931          1,003,918  
  Exploration cost recovery              -               (200,000       -              -            -           -                (200,000  
  Spin-out                               (448,173        -              -