Company: FMST
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001171843-25-001157
Chunk: 11

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-02-28
Form: 424B3
Chunk 11
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 on May 17, 2017.The Buyer agreed to pay RHET a monthly royalty equal to the greater of the Minimum Monthly Royalty or Production Royalty determined in accordance with the following table:

| Monthly Average Silver Price/Oz |     | Minimum Monthly Royalty (In USD) |       |     | Production Royalty % |   |   |
|:--------------------------------|:----|:---------------------------------|------:|:----|:---------------------|--:|:--|
| Less than $5.00                 |     | $                                |   125 |     |                      | 3 | % |
| $5.00 ~ $6.99                   |     | $                                |   250 |     |                      | 4 | % |
| $7.00 ~ $8.99                   |     | $                                |   500 |     |                      | 5 | % |
| $9.00 ~ $10.99                  |     | $                                | 1,000 |     |                      | 6 | % |
| $11.00 ~ $14.99                 |     | $                                | 1,500 |     |                      | 7 | % |
| $15 or greater                  |     | $                                | 2,000 |     |                      | 8 | % |

All royalty payments made to RHET under the Minimum Monthly Royalty or Production Royalty of the agreement will be credited against the purchase price. As of December 31, 2024,past payments totaling $ USD (March 31, 2024 -$ USD) have been applied against the $ USD purchase price. The remaining purchase price of $ USD (March 31, 2024 -$ USD) maybe satisfied in the form of ongoing advance royalty payments or lump-sum payment to finalize the property purchase. The accrued minimum monthly royalty payments outstanding as of December 31, 2024,totals $ or $ USD (March 31, 2024 -$, or $ USD), which is included in the accounts payable and accrued liabilities. Only the permanent production royalty of % of NSR on all ore mined on the Ivanhoe and Emporia lode claims, will remain as an encumbrance after the property has been purchased.

Zoro Property

The Company announced on January 4, 2024that a $ grant shall be received from the Manitoba Government for the Zoro Lithium Property to fund further exploration and development. During the year ended March 31,