Company: FMST
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001171843-25-001157
Chunk: 13

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-02-28
Form: 424B3
Chunk 13
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 for exploration work on the Jean Lake and received $ during the year ended March 31, 2023.The remaining $ was received during the year ended March 31, 2024.

Grass River Property

During the nine-month period ended December 31, 2024,the Company incurred $ (March 31, 2024 -$) in claim filing fees.

Jol Lithium Property

During the year ended March 31, 2023,the Company entered into an agreement and acquired a % interest in the MB3530 claim located in the Snow Lake area of Manitoba. To earn the interest, the Company paid $ and issued $ in shares ( shares issued). The property is subject to a % NSR.

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FOREMOST CLEAN ENERGY LTD.

(FORMERLY FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD.)

Notes to the Condensed Interim Consolidated Financial Statements

December 31, 2024

(Expressed in Canadian Dollars)

(Unaudited – Prepared by Management)

| 4. | EXPLORATION AND EVALUATION ASSETS (Continued) |

Peg North Property

During the year ended March 31, 2023,the Company entered into an option agreement to acquire a % interest in the Peg North claims located in the Snow Lake mining district in Manitoba. Under the terms of the option agreement (the "First Option"), in consideration for making aggregate cash payments of $, issuing Strider Resources common shares having an aggregate value of $, and incurring an aggregate of $ in exploration expenditures on or before the fifth anniversary, the Company has the right to acquire a % interest in the Peg North Claims, subject only to a % net smelter return royalty granted to Strider (the "NSR"). The obligations under the First Option can be considered fulfilled under the terms as outlined in the schedule below:

| a) | cash payments of $750,000 as follows: |

| i) | a cash payment of $100,000 on or before  June 23, 2022 (paid); |

| ii) | a cash payment of $100,000 on or before  June 28, 2023 (paid); |

| iii) | a cash payment of $100,000 on or before  June 28, 2024 (paid); |

| iv) | a cash payment of $150,000 on or before  June 28,