Company: FMST
Filing Date: 2025-08-06
Form Type: F-3
Source: 0001171843-25-005054
Chunk: 72

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-08-06
Form: F-3
Chunk 72
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 has modified or superseded a prior statement or include any other information set forth in the document that it modifies or supersedes.
The making of such a modifying or superseding statement shall not be deemed an admission for any purposes that the modified or superseded
statement, when made, constituted a misrepresentation, an untrue statement of a material fact or an omission to state a material fact
that is required to be stated or that is necessary to make a statement not misleading in light of the circumstances in which it was made.**

### RISK FACTORS
An investment in our common shares involves a high
degree of risk. Before deciding to invest in our common shares, you should carefully consider the risks and uncertainties described below,
together with all of the other information contained in this Prospectus Supplement and the accompanying Prospectus, including those risks
and uncertainties described in the section titled “Risk Factors” sections of the accompanying prospectus and of our annual
report on Form 20-F for the year ended March 31, 2025, filed with the SEC on June 20, 2025, which is incorporated by reference
into this Prospectus Supplement, as well as any amendment or update to our risk factors reflected in subsequent filings with the SEC.
Other risks and uncertainties that we do not presently consider to be material, or of which we are not presently aware, may become important
factors that affect our future financial condition and results of operations. If any of the following risks actually occurs, our business,
financial condition, results of operations, liquidity and prospectus could suffer materially, the trading price of our common shares could
decline and you could lose all or part of your investment. See also the section titled “Cautionary Note Regarding Forward-Looking
Statements”.

| S-7 |

#### Risks Related to this Offering
**You will experience immediate dilution
in the book value per common share you purchase in this offering.

Because the price per common share being offered hereby is substantially higher than the book value per share of common stock, you will suffer substantial dilution in the net tangible book value of the common stock purchase in this offering. Based on the assumed public offering price of US$2.87 per share, which was the last reported sale price of our common shares on Nasdaq on August 4, 2025, and assuming that we sell all US$15,000,000 of common shares under this prospectus supplement, and after deducting commissions and estimated aggregate offering expenses payable by us