Foremost Clean Energy Completes Over $8M In Qualifying Exploration Expenses, To Raise Stake To 51% Throughout Its 10 Athabasca Uranium Projects Upon Completion Of Phase 2 Under Its Option Agreement With Denison

Foremost Clean Energy Ltd. (NASDAQ:FMST) (CSE:FAT) ("Foremost" or the "Company") is pleased to announce that it will have completed the Phase 2 earn-in requirements ("Phase 2") under its Option Agreement (the "Option Agreement") closed with Denison (see Press Release October 07, 2024) upon issuing to Denison Mines Corp. ("Denison") (NYSE:DNN, TSX:DML) up to 848,610 common shares in the capital of Foremost ("Shares") valued at $2 million (based on applicable pricing parameters).

The Company has completed more than $8 million in qualifying exploration expenditures and upon completion of Phase 2, will have increased its ownership interest to 51% interest across its 10 Athabasca uranium projects, ("the Projects") with the exception of Hatchet Lake, at 35.78%. The significant earn-in milestone is expected to be satisfied approximately 15 months ahead of the October 4, 2027, contract deadline.