Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 112

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 5
Chunk 112
---
 $100,000 in common shares on or before June 9, 2023 (issued 13,072 shares);  

  iii.      the issuance of $100,000 in common shares on or before June 28, 2024 (issued 28,818 shares);  

  iv.      the issuance of $150,000 in common shares on or before June 28, 2025;  

  the issuance of $150,000 in common shares on or before June 28, 2026;  

  vi.      the issuance of $150,000 in common shares on or before June 28, 2027; and  

  incurring exploration expenditures totaling $3,000,000 ($881,337 incurred as of March 31, 2025) due on or before June 9, 2027.  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Provided that the First Option has been exercised, the Company may purchase from Strider one half (1%) of the NSR for a cash payment of $1.5 million (the “ Second Option”) at any time prior to commencement of commercial production.

Additional Properties

Jol Property, Manitoba, Canada

On July 12, 2022, Foremost completed the acquisition of 100% of the interest in and to those certain undersurface mineral rights certain comprising Manitoba Mineral Disposition No. MB3530 from Mae De Graf (the “ MB3530 Property”) by paying $8,000 cash and with the issuance of 364 shares, valued at $2,454. The MB3530 Property is subject to a 2% NSR. During the year ended March 31, 2025, the Company incurred a $638 (2024 - $1,276) expense in claim filing fees. The property is subject to a 2% NSR.

Lac Simard South, Quebec, Canada

In May 2023, Foremost acquired Lac Simard South Property, located in the Province of Quebec, amending a property acquisition agreement to purchase 100% interest in and to those certain undersurface mineral rights comprising a total of 60 claims, covering 8,612 acres (3,485 hectares). In consideration for the property, Foremost paid to the vendors cash consideration of $35,000 and issued 10,700 common shares of the Company at a deemed price of $7.50 per common share. As a