Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 84

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 84
---
-assisted magnetic and Lidar survey results and new rock and soil geochemistry and prospecting to determine our targets. After summer field work is complete and drill targets are defined, we will make an application for a work (drill) permit at the Mining Permits office of the Manitoba Government. We will be required to submit the number of holes, location and metres on the application, or it will not be accepted by the Manitoba Government. Such permits generally are awarded within 3 weeks of application submission. For a full outline of permitting requirements in Manitoba, see “ Project Overview - The Lithium Lane Properties - Zoro Property - Permitting”.

Table 12 - Exploration Permits

  Company                                                                                         License/Permit                                      Issuing Authority                          Issuance Date          Term            
  Foremost Clean Energy Ltd. (formerly known as Foremost Lithium Resource & Technology Ltd.)      Work Permit to drill on Crown (Manitoba) Lands      Manitoba Mineral Resources Department      December 18, 2023      April 30, 2026  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

66

Infrastructure

The Jean Lake Property is located 15km east of the town of Snow Lake. See “ Project Overview” - The Lithium Lane Properties - Zoro Property - Permitting” for discussion of nearby infrastructure.

Development Activities

Ongoing exploration, consisting of prospecting and geochemical surveys, was continued was continued utilizing the results from completed drone-assisted magnetic surveys to assess the potential for additional spodumene bearing pegmatites and continue exploration for gold mineralization on the Jean Lake property. We have plans to conduct a drill program on the property to follow up on the 2024 program.

Grass River Property

The Grass River Property is an exploration stage property located 30 km east of the historic town of Snow Lake, 6.5 kilometers east of the Zoro Property. The Grass River Property hosts 10 pegmatites exposed in outcrop and 7 drill-indicated spodumene-bearing pegmatite dykes and is located with UTM coordinates 465,500mE and 6,090,000mN (GPS coordinates are 54.89712, -99.40356) as illustrated on figure 24 below. The property is accessed via helicopter. The Grass River Property has no mineral reserves or mineral resources under S-K 1300.

Figure