Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 88

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 88
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 a large magnetically depleted zone that occurs at the southern end of the previously unrecognized sinistral fault structure identified from a UAV-assisted magnetic survey.

A high volume of pegmatite dykes were discovered and sampled during the 2023 field exploration campaign highlighting the prominence of the Crowduck Bay Fault. A large portion of the property was inaccessible and remains unexplored due to forest fires, inhibiting access.

On October 9, 2023, we announced EarthEx embarked on a program to Snow Lake on the Peg North claim block to commence LiDAR surveying which would complete the collection of LiDAR and high-resolution magnetics over the entirety of its Lithium Lane Properties. Results from the 2023 summer exploration program, coupled with regional/local geological assessments, historical data, and high-resolution geophysics will be essential for future exploration data sets for the inputs to enable an efficient and effective drill targeting strategy.

Non Core Properties

The Winston Property

The Company had held certain underlying royalties, a 100% ownership and option interest in certain claims in Winston Property through its former wholly-owned subsidiary, Sierra. On January 31, 2025, Foremost completed the Arrangement pursuant to which ownership of Sierra was transferred from Foremost to Rio Grande, effectively disposing of its interests in Sierra. See Item 4B of this Annual Report for more information.

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Lac Simard South Property

Figure 26. Property Location Map of Lac Simard South in Quebec, Canada

The Lac Simard South Property is located in the Province of Quebec, Canada is comprised of 60 claims located on 8,611 acres (3,485 hectares) and 20 claims staked directly by the company located on 2,871 acres (1,162 hectares) bringing the amalgamated total land package to 80 mineral claims, and the land area to 11,482 acres (4,647 hectares). The location of the property via GPS coordinates is 47.56518, -78.647. The Lac Simard South Property is easily accessible year-round by way of well-maintained roads, connecting to the main highway. Sudbury, Ontario is the closest major city, about 350 km to the southwest. The property has no mineral reserves or mineral resources under S-K 1300

Geology

The Lac Simard South Property is largely underlain by the large monzodiorite batholith of Lac Simard Sud. This batholith is pinkish grey in color and is composed of