Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 42

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 42
---
 conductive anomalies identified through historical geophysical surveys. By focusing on areas with confirmed mineralization and anomalous geochemical signatures highlighted by our previous drilling results, we seek to evaluate geological structures similar to those associated with known high-grade deposits in the Athabasca Basin.

In addition to established target areas, the program will also focus on over 600 meters of untested conductor strike length revealed by recent ground-based electromagnetic (EM) surveys. This approach is designed to enhance our understanding of the location of graphitic pelites - known host rock of earthern Athabasca deposits - while targeting sites marked by significant structural disruption and hydrothermal alteration. Our goal is to uncover new discoveries that could contribute to the identification of a significant mineral resource at the Hatchet Lake Property and further establish its value within our strategic portfolio.

Infrastructure

The Hatchet Lake Property benefits from proximity to established transportation routes. Access is facilitated by winter roads leading north from the McClean Lake mine and mill, as well as air access via fixed-wing aircraft and helicopters from Points North Landing. The existing infrastructure supports logistics for equipment, personnel, and supplies, making exploration activities more efficient.

Further enhancements to infrastructure, such as temporary camps for exploration crews and communication facilities, are anticipated to be implemented during drilling campaigns to facilitate operations. There is also potential for establishing more permanent facilities should exploration results prove promising.

Murphy Lake South

Figure 6. Murphy Lake South Uranium

The Murphy Lake South Uranium Property, located approximately 30 kilometers northwest of the McClean Lake mill within the eastern edge of the Athabasca Basin, comprises six mineral claims totaling 17,676 acres (7,153 hectares). This property is situated in proximity to the Laroque Lake conductive corridor, which hosts significant uranium deposits, including the Hurricane, Alligator, and LaRocque deposits. The GPS coordinates for the properties are approximately Latitude: 56.1540° N, Longitude: 104.6880° W.

Geology

The Murphy Lake South Property is situated near eastern margin of the Athabasca Basin, an area prolific for hosting some of the world’s highest-grade uranium deposits. The property is characterized by a relatively shallow cover of Athabasca Sandstone, with thicknesses varying between 200 to 350 meters, which overlies the unconformity that marks the boundary between the younger sedimentary strata and the underlying crystalline basement rocks. The basement geology is primarily composed of metamorphic rocks belonging to the Wollaston and Mudjatik Domains,