Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 45

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 45
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 project objectives, proposed drilling sites, and environmental management strategies and have followed all applicable procedures. For a full outline of permitting requirements in Saskatchewan, see “ Project Overview - The Athabasca Uranium Properties - The Hatchet Lake Property - Permitting”.

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Infrastructure

The Murphy Lake South Property benefits from its proximity to established infrastructure, benefiting from its strategic location within the eastern edge of the Athabasca Basin, approximately 30 kilometers northwest of the McClean Lake mill, which provides a crucial processing facility for uranium extraction. The infrastructure in the area is relatively well-developed, facilitating exploration and potential mining operations, serviced by a network of winter roads that support logistical activities and transportation during ice conditions. These roads provide crucial access to the property for vehicles and equipment, easing transportation of personnel and supplies. In addition to road access, the property can be accessed by air, allowing for efficient mobilization of crews and equipment via fixed-wing aircraft and helicopters.

Developmental Activities

Historical drilling results have demonstrated strong correlations between identified resistivity targets and the presence of mineralization, providing a solid foundation for ongoing exploration efforts, including promising uranium mineralization, highlighted by findings from drill holes such as MP-15-03 and MP-17-19. We are currently developing exploration drilling plans for the Murphy Lake South Property, with the drilling program divvied into two phases. Phase 1 drilling, expected to take place during the summer of 2025, will involve approximately 1,500 meters of diamond drilling targeting the unconformity intersection of semi-brittle graphitic faults, identified from historical drilling that returned anomalous uranium concentrations. Phase 2 is anticipated for late 2025 and will focus on testing geophysical anomalies that may represent significant structures coincident with clay alteration.

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CLK Property

Figure 7. CLK Uranium Property Map

Property The CLK Property encompasses 25,753 acres (10,422 hectares) and is situated approximately 30 kilometers south of the Athabasca Basin margin, overlapping the northwestern edge of the Snowbird Tectonic Zone, and adjacent to prominent Black Lake Fault. The interplay of these prominent structures remain prospective for high grade uranium mineralization hosting several uranium occurrences. The property was staked in November 2023, indicating a strategic initiation of exploration efforts in this prospective area. The GPS coordinates for the center of the CLK Property are approximately Latitude: 58.4800° N, Longitude: 104.6890° W.

Geology

The geologic landscape of the CLK Property