Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 67

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 67
---
 exercise of outstanding options granted under our equity incentive plans at a weighted average exercise price of $5.30 per share; 92,808 common shares issuable upon exercise of outstanding restricted share units granted under our equity incentive plans; |
| • | 1,207,340 common shares reserved for future issuance under our equity incentive plans; and                                                                                                                                                                                                        |
| • | 3,524,647 common shares issuable upon exercise of outstanding share purchase warrants at a weighted average exercise price of $4.27 per share and 59,598 common shares issuable upon exercise of outstanding agent warrants at a weighted average exercise price of $4.19 per share.              |

| S-4 |

### CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Prospectus Supplement and the documents incorporated
by reference herein contain “forward-looking statements” and “forward-looking information” within the meaning
of United States and Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements
include, but are not limited to, information with respect to our objectives and our strategies to achieve these objectives, as well as
statements with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. These forward-looking statements
may be identified by the use of terms and phrases such as “may”, “would”, “should”, “could”,
“expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”,
“believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions,
although not all forward-looking statements contain these terms and phrases. Forward-looking statements are provided for the purposes
of assisting the reader in understanding us, our business, operations, prospects and risks at a point in time in the context of historical
and possible future developments and therefore the reader is cautioned that such information may not be appropriate for other purposes.

Forward-looking statements relating to us include,
among other things, statements or assumptions relating to:

| · | our goals and strategies; |

| · | expectations regarding revenue, expenses and operations; |

| · | our having sufficient working capital and be able to secure additional funding necessary for the continued 
 exploration of our property interests;                                                                     |

| · | expectations regarding the potential mineralization, geological merit and economic feasibility of our 
 projects;                                                                                             |

| · | expectations regarding exploration results at the Lithium Lane Properties and the Athabasca Uranium Properties; |

| · | mineral exploration and exploration