Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 32

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 32
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 adjacent to the Wollaston-Mudjatik Transition Zone (WMTZ), which hosts currently producing uranium mines and mills in the Athabasca Basin. The properties range from grassroots exploration projects to those with significant historical exploration data and drill-ready targets, positioned to capitalize on this growing demand.

In our commitment to a sustainable future, we are focused on our lithium exploration efforts in Manitoba, where we are exploring the region's burgeoning lithium market, and where we plan to leverage favorable geological formations that are conducive to high-quality lithium extraction. Our goal is to become a strategic supplier to processors of battery-grade LiOH to supply the growing electric vehicle battery and battery storage markets as we hold 78 discrete mining claims covering over 43,000 acres (17,500 hectares) primed for lithium exploration. In addition, we hold 80 claims with our Lac Simard South property in Quebec on over 11,400 acres close to processors and concentrators.

As global demand for clean energy solutions accelerates, driven by the electrification of industries and the increasing reliance on renewable energy sources, Foremost’s dual focus on lithium and uranium enables us to meet the needs of a diverse array of markets. Our proactive exploration strategies, combined with our commitment to sustainable mining practices, ensure that we are not only positioned to capitalize on current trends but also contribute significantly to the energy transition. With strategic locations in some of North America's most resource-rich areas, we are poised to play a vital role in building a more sustainable and secure energy future.

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Athabasca Uranium Properties

Foremost holds an option from Denison to acquire an up to 70% interest in 10 prospective uranium properties spanning over 330,000 acres in the prolific uranium rich Athabasca Basin in Saskatchewan, Canada. As global demand for decarbonization accelerates, the need for nuclear power is crucial, and we are well positioned to capitalize to meet the world’s growing energy transition goals. We are committed to a disciplined exploration strategy to prove up resources on existing drill-ready targets with identified mineralization along strike of recent major discoveries. Our 10 projects are separated into two distinct zones: the Eastern Athabasca Uranium Properties and the Blue-Sky Uranium Properties.

Figure 1. Athabasca Properties Map

Eastern Athabasca Uranium Properties

The seven projects identified in the Eastern Athabasca Uranium area include Murphy Lake South, Hatchet Lake, Turkey Lake, Torwalt Lake, Marten, Wolverine, and Epp Lake. These properties are