Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 48

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 48
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 margin of the Athabasca Basin in Saskatchewan. The property is strategically located, bordering the northern claim boundary of Denison’s Wolly Joint Venture project, which is operated by Orano Canada, approximately 23 kilometers north of the McClean Lake Mill and 25 kilometers north of the Eagle Point Mine. Access to the property is via fixed-wing aircraft from Points North Landing, the Hatchet Lake Lodge winter road (permission required), or through a network of winter roads leading north from the McClean Lake Operation site. The property is centered on E 576,151 m and N 6,490,183 m (NAD83 UTM Zone 13N).

Geology

The Turkey Lake Property is geologically situated within a favorable environment for uranium mineralization, as evidenced by its proximity to known conductive corridors. The property has a sandstone-covered portion associated with historic drill results, where previous drilling efforts identified uranium mineralization near the sub-Athabasca unconformity.

Exploration Activities

Historical exploration at Turkey Lake was conducted by Gulf Minerals and Cameco Corporation from 1979 to 2009, focusing on various drilling campaigns that returned significant results. Notably, drill hole TUR-4 intersected 0.136% U3O8over 0.6 meters, encapsulated within the sandstone column just above the unconformity. A series of subsequent drill holes encountered elevated radioactivity and confirmed the potential for mineralization.

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Property Claims Table

  Project          Disposition Number      Size (Hectares)      Expiry Date      Yearly Holding Costs      Holder                   
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Turkey Lake      S-110919                       3,789.00      3/7/2034                   $94,715.32      DENISON MINES CORP:100%  

TOTAL NUMBER OF CLAIMS = 1 | TOTAL AREA = 9,363 acres (3,789 hectares)

Permitting and Licensing

The permitting process for the Turkey Property will adhere to the requirements of the Saskatchewan Ministry of Energy and Resources. This includes conducting environmental assessments and obtaining the necessary exploration permits prior to commencing drilling activities. Engaging with Indigenous communities and meeting consultation requirements will also be integral to successfully obtaining these permits. For further information see :” Project Overview - The Athabasca Uranium Properties - The Hatchet Lake Property - Permitting”.

Infrastructure

The property lies within established infrastructure in the