Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 63

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 63
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 transition is acting as a catalyst for the expansion of energy storage markets. Recent geopolitical tensions have underscored the necessity for energy independence, prompting governments to invest in sustainable energy storage solutions. By 2025, it is evident that battery recycling technologies are starting to receive significant attention and investment, addressing long-term sustainability concerns related to lithium mining. While higher installation costs currently pose a challenge, prices are projected to decline as production scales and technology advances. The COVID-19 pandemic highlighted supply chain vulnerabilities, particularly reliance on APAC regions for critical raw materials, prompting diversification efforts. Key sectors like data centers further propel demand through uninterruptible power supply (UPS) needs, reinforcing lithium-ion batteries' role in grid stability and energy transition. This growth trajectory underscores both opportunities and supply chain risks for stakeholders in the lithium and energy storage markets. This trajectory suggests a progressive alignment with targets aimed at reducing the environmental footprint of battery production and disposal, vital for maintaining the growing demands of both the EV market and stationary energy storage systems.

Overall, the lithium market and associated industries are navigating through a transformative period, shaped by a combination of policy encouragement, technological advances, and changing economic landscapes. As the lithium sector faces oversupply issues, a gradual recovery is expected by 2030, contingent on production adjustments and demand stabilization. Continuous monitoring and adaptation will be critical for stakeholders aiming to remain competitive and sustainable in the shifting global marketplace.

Our Lithium Lane Properties are ideally located to take advantage the projected battery market, being a strategic hard rock lithium supplier and a favorable source of renewable energy for lithium mining and processing in Manitoba. In addition, the Lithium Lane Properties are strategically within easy access to infrastructure. The Hudson Bay Railway has a railhead 30 km from our project, with access to means of transportation to bring our lithium product north to the Port of Churchill, for shipment to Europe, or south via CN rail or North America superhighways.

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Project Overview

The Lithium Lane Properties

Zoro Property

Portions of this section regarding the Zoro Property are derived from the S-K 1300 technical report summary, “ Technical Report on the Zoro Lithium Project, Snow Lake, Manitoba”, with an effective date of January 16, 2023, prepared by Mark Fedikow and Scott Zelligan, Qualified Persons under S-K 1300, (“ Qualified Person” or “ Qualified Persons”). Mr. Fedikow is our former Vice President of Exploration and is currently contracted as an independent scientific advisor. Mr. Zelligan is a