Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 2

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 2
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ord                    
 Genuity LLC (“Canaccord”).                                                                                                            |

The Prospectus immediately follows this explanatory
note. The specific terms of any securities to be offered pursuant to the Prospectus will be specified in a Prospectus Supplement to the
Prospectus. The “at-the-market” offering Prospectus Supplement immediately follows the Prospectus. The US$15,000,000 of common
shares that may be offered, issued and sold under the “at-the-market” offering Prospectus Supplement is included in the US$100,000,000
of securities that may be offered, issued and sold by us under the Prospectus. Upon termination of the equity distribution agreement with
Canaccord, any portion of the US$15,000,000 included in the “at-the-market” offering Prospectus Supplement that is not sold
pursuant to the Equity Distribution Agreement will be available for sale in other offerings pursuant to the Prospectus and a corresponding
Prospectus Supplement, and if no shares are sold under the equity distribution agreement, the full US$100,000,000 of securities may be
sold in other offerings pursuant to the Prospectus and a corresponding Prospectus Supplement.

The information in this Prospectus is not
complete and may be changed. We may not sell these securities until the registration statement filed with the United States Securities
and Exchange Commission is effective. This Prospectus is not an offer to sell these securities and is not soliciting an offer to buy these
securities in any state where the offer or sale is not permitted.

#### SUBJECT TO COMPLETION, DATED JULY 25, 2025

#### Foremost Clean Energy Ltd.

#### US$100,000,000
<div align='center'>**Common Shares
Preferred Shares
Debt Securities
Warrants
Units
Subscription Receipts**</div>

**Foremost Clean Energy Ltd. (the “Company”,
“Foremost”, “we,” “us” and “our” ) may offer and issue from
time to time any of its (i) common shares (the “Common Shares”) or its preferred shares (the “Preferred Shares” and together with the Common Shares, the “Equity Securities”), (ii) bonds, debentures, notes or other
evidences of indebtedness of any kind, nature or description (collectively, “Debt Securities”), (iii) warrants to purchase
Equity Securities and warrants to purchase Debt Securities (collectively, the “Warrants”), (