Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 68

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 68
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kes GBB and GBC.

54

Zoro Property Inferred Mineral Resource

The S-K 1300 compliant technical report summary was prepared to support ongoing exploration and development by us. Its primary goal was to review existing and newly discovered lithium pegmatite dykes on the property based on exploration work finished before July 2018. It would utilize the related geoscientific database to demonstrate sufficient technical merit to continue the assessment of known pegmatite dykes and to explore for repetitions of this style of mineralization.

For reporting purposes, the Zoro Property inferred mineral resource is tabulated Li2O (%). The author is unaware of any known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that may negatively affect the economic extraction of the inferred resource.

Table 1 - Summary of In Situ Mineral Resources as of the end of fiscal year 2023

  Cut-Off 0.3 Li 2 O%      Tonnes (t)                     Grade Li 2 O%                Li 2 O tonnes              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Inferred                                 1,074,567                         0.91                         10,756  

The foregoing resource estimation was completed by Scott Zelligan, P. Geo, a Qualified Person, with an effective date of May 25, 2018. The Qualified Person has confirmed that there has been no change in the mineral resource estimation between May 25, 2018 and January 16, 2023. This resource covers only material within Dyke 1 at the Zoro Property. Our lithium resource is comprised entirely from one spodumene mineralized pegmatite dyke (the Zoro Dyke 1) as defined by our 2017/2018 drill programs. Dyke 1 is close to additional lithium bearing mineralization hosted in 15 spodumene pegmatite dykes that are yet undefined and does not comprise part of the existing resource. The resource remains open at depth and along strike in both the north and south directions.

Estimation was conducted only within the mineralized pegmatite with internal and external waste excluded as identified by hard boundaries. Interpretation occurred on a two-dimensional sectional basis then combined to form a three-dimensional volume model of the in-situ pegmatite dyke. No waste material in the host country rock was estimated.

Mineral Resource Estimates

Cut-off Grades

For