Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 85

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 85
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TOTAL NUMBER OF CLAIMS = 29 | TOTAL AREA = 15,664 acres (6,339 hectares)

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Permitting

We have to take the necessary exploration efforts to define drill targets before applying for permits. We utilize previously acquired UAV-assisted magnetic and Lidar survey results and new rock and soil geochemistry and prospecting to determine our targets. Once field work is complete and drill targets are defined, an application for a work (drill) permit with the Mining Permits office of the Manitoba Government is submitted. For the application, we will be required to submit the number of holes, location and metres on the application, or the application will not be accepted by the Manitoba Government. These kinds of permits generally are awarded within 3 weeks. For a full outline of permitting requirements in Manitoba, see “ Project Overview - The Lithium Lane Properties - Zoro Property - Permitting”.

Infrastructure

The Grass River Property is located 25 km east of the town of Snow Lake. It is the furthest distance from Snow Lake of all the lithium lane properties and was staked by the company in 2022. Access is by air support only as there is no current infrastructure due to its remote location and distance from our other properties.

Development Activities

A prospecting program commenced in the Summer of 2023 to supplement the geophysical and geochemical targets. Eleven (11) samples collected from visible, granitic pegmatite exposures. This verified the 1950s exploration work undertaken on the property, verified in the assessment files housed in the office of the Manitoba Mining Recorder and subsequently mapped by the Manitoba Geological Survey. Time on the property was restricted during the exploration program due to the 2023 forest fires and accessibility was limited.

Earthex was contracted to perform a drone-assisted magnetic survey on the property as they have a technology to produce high-resolution images, to define the 3D location, shape, size, and distribution of potential spodumene rich pegmatite dykes. The data interpretation and results from a drone-assisted magnetic and Lidar surveys conducted between April 14 and May 27, 2022, and comprised 2,734.1-line km.

Future exploration work will focus on underexplored pegmatites exposed in surface together with the 7 drill-indicated spodumene-bearing dykes.

Peg North Property

The Peg North Property is an exploration stage property located in the historic mining district of Snow Lake, Manitoba. The Peg North Property is located via