Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 33

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 33
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 situated in the eastern portion of the Athabasca Basin in northern Saskatchewan, Canada. The region experiences a subarctic climate characterized by short, mild summers, with temperatures ranging from 15° C to 20° C, and long, very cold winters, where temperatures can drop to between -20° C and -30° C. Precipitation is moderate, with most rainfall occurring during the summer months, while snowfall is common throughout the lengthy winter. The landscape is dominated by boreal forest, numerous lakes, and exposed Precambrian bedrock, with the terrain generally being flat to gently rolling, though some areas exhibit higher relief.

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Figure 2. Eastern Athabasca Properties Map

Access to these properties is primarily facilitated by provincial highways and secondary roads, with winter roads being utilized to reach more remote locations. The region also hosts several small airports and airstrips. Electrical power is available from the provincial grid, although some remote sites depend on diesel generators. The Eastern Athabasca Basin is recognized as a well-established uranium mining district, boasting a long history of exploration and production. Several major uranium deposits, such as those at Rabbit Lake, McClean Lake, McArthur River and Cigar Lake, have been discovered and mined in the area. Geologically, the properties are located within the Athabasca Basin, a Paleoproterozoic sedimentary basin that overlays Precambrian basement rocks, with uranium deposits often found at or near the unconformity between the Athabasca sandstone and the underlying basement rocks. The most prospective exploration ground in the eastern portion of the Athabasca Basin region is typically located near the Wollaston-Mudjatik Transition Zone (WMTZ) and has largely been staked by existing uranium producers, developers, and explorers. Historical drilling on these properties has primarily focused on the potential of unconformity-type/sandstone mineralization. This presents further opportunities for continued exploration with the recent discovery of the Arrow deposit defining basement-hosted mineralization, this potential remains largely untapped across the basin.

Blue Sky Uranium Properties

The three projects identified in the Blue Sky Property area consist of Blackwing, GR, and CLK, all of which are located in the northern portion of Saskatchewan, Canada. Similar to the Eastern Athabasca region, the Blue Sky properties experience a subarctic climate characterized by long, cold winters and short, mild summers, with temperatures ranging from average highs of 18° C in July to average lows of -25° C in