Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 86

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 86
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 TO IT OF AN INVESTMENT IN COMMON SHARES IN LIGHT OF THE ‎INVESTOR’S OWN CIRCUMSTANCES.‎**

#### CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS
The following is a general summary of certain material
U.S. federal income tax considerations applicable to a U.S. Holder (as defined below) arising from and relating to the acquisition, ownership,
and disposition of Common Shares acquired pursuant to an offering under this Prospectus. This summary is for general information purposes
only and does not purport to be a complete analysis or listing of all potential U.S. federal income tax considerations that may apply
to a U.S. Holder arising from and relating to the acquisition, ownership, and disposition of Common Shares. In addition, this summary
does not take into account the individual facts and circumstances of any particular U.S. Holder that may affect the U.S. federal income
tax consequences to such U.S. Holder, including without limitation specific tax consequences to a U.S. Holder under an applicable income
tax treaty. Accordingly, this summary is not intended to be, and should not be construed as, legal or U.S. federal income tax advice with
respect to any particular U.S. Holder. This summary does not address the U.S. federal net investment income tax, U.S. federal alternative
minimum tax, U.S. federal estate and gift tax, U.S. state and local tax, and non-U.S. tax consequences to U.S. Holders of the acquisition,
ownership, and disposition of Common Shares. In addition, except as specifically set forth below, this summary does not discuss applicable
tax reporting requirements. Each prospective U.S. Holder should consult its own tax advisor regarding the U.S. federal, U.S. state and
local, and non-U.S. tax consequences relating to the acquisition, ownership, and disposition of Common Shares.

No legal opinion from U.S. legal counsel or ruling
from the Internal Revenue Service (the “IRS”) has been requested, or will be obtained, regarding the U.S. federal income
tax consequences of the acquisition, ownership, and disposition of Common Shares. This summary is not binding on the IRS, and the IRS
is not precluded from taking a position that is different from, and contrary to, the positions taken in this summary. In addition, because
the authorities on which this summary is based are subject to various interpretations, the IRS and the U.S. courts could disagree with
one or