Company: FMST
Filing Date: 2025-08-06
Form Type: F-3
Source: 0001171843-25-005054
Chunk: 78

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-08-06
Form: F-3
Chunk 78
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 of our common
shares on Nasdaq on August 4, 2025, for aggregate gross proceeds of US$15.0 million. The shares subject to the Equity Distribution Agreement
are being sold from time to time at various prices. This information is supplied for illustrative purposes only and may differ based on
the actual offering price and the actual number of shares offered.

The foregoing table is based on 10,419,966 common
shares outstanding as March 31, 2025, and excludes, as of such date, the following:

| • | 516,453 common shares issuable upon exercise of outstanding options granted under our equity incentive plans at a weighted average exercise price of $3.96 per share; 144,001 common shares issuable upon exercise of outstanding restricted share units granted under our equity incentive plans; |
| • | 839,546 common shares reserved for future issuance under our equity incentive plans; and                                                                                                                                                                                                           |
| • | 4,434,563 common shares issuable upon exercise of outstanding share purchase warrants at a weighted average exercise price of $4.92 per share and 206,055 common shares issuable upon exercise of outstanding agent warrants at a weighted average exercise price of $4.19 per share.              |

To the extent that outstanding exercisable options or warrants are exercised
or additional restricted stock units vest, you may experience further dilution. In addition, the foregoing table excludes any common
shares that may be issued to Denison in the potential concurrent private placements discussed above in “Prospectus Summary –
Recent Developments” and the further dilution that would result therefrom.

### EXPENSES OF ISSUANCE AND DISTRIBUTION
The following is a statement of the expenses (all
of which are estimated), other than any underwriting discounts and commissions and expenses reimbursed by us, if any, to be incurred in
connection with a distribution of an assumed amount of US$15.0 million common shares under the offering.

| SEC registration fees            | US$ 15,310 |
| Printing expenses                |      3,000 |
| Legal fees and expenses          |    250,000 |
| Accountants’ fees and expenses   |     25,000 |
| Transfer agent fees and expenses |     10,000 |
| Miscellaneous                    |     15,500 |
| Total                            |    318,810 |

* To be supplied by amendment.

### DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION