Foremost Clean Energy Ltd. · CSE:FAT
Foremost Clean Energy — Investor Presentation (2025)
33 slides from Foremost Clean Energy's investor presentation, 2025
Slide 1: Investing in a Sustainable Clean Energy Future with 10 Optioned Uranium Properties
Investing in a Sustainable Clean Energy Future with 10 Optioned Uranium Properties From Our Strategic Partner Denison Mines CORPORATE PRESENTATION NASDAQ: FMST Fall 2025 CSE: FAT
Slide 2: Who Are We?
Who Are We? Foremost Clean Energy is a rapidly growing North American uranium and lithium exploration company dedicated to advancing the clean energy economy. Our projects consist of 10 prospective uranium properties strategically located within the world-renowned Athabasca Basin, totaling over 330,
Slide 3: Corporate Overview
Corporate Overview Corporate Overview ▪ Extensive Uranium Asset Portfolio: Highly attractive diversified uranium exploration portfolio with a total of 10 properties spanning over 330,000 acres on 45 claims, with years of completed historic exploration and inherited data ▪ Proven Mining Jurisdiction
Slide 4: Foremost and Denison
Foremost and Denison Where Vision Meets Value Advantageous Position Significant Endorsement Access A highly sough-out position provided by Denison is projected to have first ISR A groundbreaking collaboration with a mine producing by 2028. Foremost can Denison to advance underdeveloped significant a
Slide 5: Denison Mines Overview
Denison Mines Overview Advanced Athabasca Basin Uranium Developer With Unique Asset Mix 2.2M lbs U3O8 in +Balance Sheet 95% Interest in Indigenous People physical uranium holdings the Wheeler River Project ~CAD$375M in cash, uranium & Denison’s first-in-sector uranium investment position reflects co
Slide 6: Value Creation
Value Creation Systematic Steps to Increasing Shareholder Value Subheading GROWTH GROWT PIPELINE H NASDAQ: FMST | CSE: FAT 6
Slide 7: Industry Drivers
Industry Drivers GOVERNMENT POLICIES AI POWER NEEDS Nuclear Revival Executive Orders Relentless Growth Uranium Exploration ▪ On May 23, 2025, Trump laid out executive orders declaring nuclear energy a national- ▪ Data centers driving AI run nonstop and ▪ Nuclear reactors driving global clean energy
Slide 8: Industry in Review
Industry in Review ▪ Russia tightening ▪ Nuclear enriched-uranium ▪ Sentiments positioned as exports amid U.S. shift from cornerstone of bans & export cautious global net-zero restrictions, optimism to transition increasing supply genuine risk confidence ▪ Microsoft’s World Nuclear ▪ Instability in
Slide 9: Athabasca Basin
Athabasca Basin Did You Know Athabasca Basin’s uranium deposits are known to be of the highest grades in the world, with average The Athabasca Basin, located in Northern grades ranging 10X to 100X higher than the global average? (2) Saskatchewan, contains some of the world's richest uranium deposits
Slide 10: Uranium Portfolio
Uranium Portfolio Path to Prosperity: Where Opportunities Meet Mineralization Highly Attractive Uranium Portfolio Large exploration portfolio in the Athabasca Basin; 45 claims within 10 projects, spanning 332,378 acres / rani m Deposit 134,509 hectares within known uranium mineralization rrent an as
Slide 11: Eastern Athabasca Region
Eastern Athabasca Region Key Features Eastern Athabasca Properties encompasses a diversified portfolio at different stages of exploration, with both early staged exploration projects through drill permitted – drill ready assets Some exploration features of Basin Uranium deposits include: ▪ Structure
Slide 12: Hatchet Lake
Hatchet Lake A 2,400 Metre Highly Successful Drill Program was Completed in May, 2025 High-Grade Results & Expansion Potential Anomalous radioactivity detected in 6 of 10 drill holes (assays pending). Tuning Fork: New uranium mineralization discovered in TF-25-16: • 0.10% eU₃O₈ over 6.5m (open along
Slide 13: Hatchet Lake
Hatchet Lake 2025 Drill Program Hatchet Highlights Continued Supporting Data (Tuning Fork)* Interval (m) Length (m) Grade (% eU₃O₈) 144.5–145.5 1.0 0.132 146.9–147.8 0.9 0.217 Incl. 147.5–147.6 0.1 0.580 Next Steps Assay Results: Pending for mineralized intersections (expected in coming weeks). 2025
Slide 14: Murphy Lake South
Murphy Lake South 2,500m Drill Program Commenced September 2025 Key Features Located proximal to the LaRoque Lake Conductive corridor, which hosts the Hurricane, Alligator, Crocodile and LaRocque Uranium deposits > Relatively shallow depth to unconformity > Virtually untested basement potential > Up
Slide 15: Blue Sky Region
Blue Sky Region Key Features The Blue-Sky projects were staked in October 2023 to cover regional structures / structural corridor(s) ▪ Virtually unexplored portion of the Athabasca Basin ▪ ~251,000 acres / ~102,000 hectares ▪ Historic CLK drilling with over 8,500 ppm U in hole CLG-D1, hosted in pitc
Slide 16: CLK
CLK Mineralized Trend Adjacent to Snowbird Tectonic Zone Key Features ▪ Staked in November 2023 ▪ 25,753 acres / 10,422 ha in two claims ▪ Project overlaps the NE edge of the Snowbird Tectonic Zone ▪ Only two holes drilled to date, both intersected anomalous uranium mineralization ▪ Up to 8,600 ppm
Slide 17: Domestic Critical Mineral Push
Domestic Critical Foremost’s “Lithium Lane” Portfolio Mineral Push On October 12, 2025, US Department of Defense announced plans to purchase $1 billion in critical minerals to secure supply for defense and energy systems prioritizes “allied sourcing”. ▪ Move reflects rising concern over US reliance
Slide 18: Lithium Lane Projects
Lithium Lane Projects Zoro, Jean Lake, Peg North and Grass River Key Features Properties Foremost’s four core “Lithium Lane” projects span 43,276 acre / 17,513 hectares in the mine friendly district of Snow Lake, Manitoba. Key critical mineral highlights: ▪ Massive Exploration Upside: 9 total drill
Slide 19: Lithium Lane Projects
Lithium Lane Projects De-Risking Milestones for the North American Critical Minerals Market Attractive Land Portfolio Zoro Lithium Project Jean Lake Gold/Lithium ▪ 20-hole 2,500 m commenced in ▪ A district-scale land package with ▪ Inferred resource estimate from a September 2025 to follow up on ove
Slide 20: Project Timelines
Project Timelines A Robust $6.5Million Exploration Program on Multiple Properties on Discovery-Ready Targets Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Hatchet Lake Drill Drill program expected 2500 m Drill Drill Programs at Subsequent follow up assay results released on Hatchet Lake; Programs Murphy a
Slide 21: Corporate and Financial View
Corporate and Financial View NASDAQ:FMST Share Structure 1 FINANCIAL OVERVIEW CSE:FAT Share Price(1) C$4.51 52-Week Trading Range(1) C$ .86– C$7.75 Basic Shares Outstanding(2) 12.67 M(4) Options(2) 0.2M RSUs(2) 0.5 Warrants(2) 3.54M FD Shares Outstanding(2) 16.91M Market Capitalization (Basic)(1) C$
Slide 22: Management, Board & Advisors
Management, Board & Advisors Management Jason Barnard President, CEO & Dong Shim CPA, CA Cameron MacKay Christina Barnard Non -Independent Chief Financial Officer VP Of Exploration Chief Operating Officer Director Board of Directors Douglas David Cates Peter Espig Amanda Willet Andrew Lyons Mason In
Slide 23: Transaction Summary
Transaction Summary Cash Consideration Exploration Interest Phases (C$) Shares Issued Expenditures (C$) Miscellaneous Items Earned (%) 1 ➢ Appointing one irector nominate by Denison to Foremost’s Board of Directors immediately on the Effective Date; ➢ Appointing a echnical A visor at Denison’s elect
Slide 24: Investment Highlights
Investment Highlights. Extensive Portfolio Athabasca Basin 10 DISTINCT URANIUM PROPERTIES PROVEN MINING JURISDICTION Each with mineralization and identified A known prolific uranium location targets spanning over 330,000 acres producing ~15% of world’s primary prospective area surrounded by high- ur
Slide 25: Pioneering a Clean Energy Future
www.foremostcleanenergy.com Pioneering a Clean Energy Future Company Contact Jason Barnard President & CEO Jason.barnard@foremostcleanenergy.com +1 (604) 330-8067 NASDAQ: FMST | CSE: FAT 25
Slide 26: Appendix: Project Overview
APPENDIX Project Overview: Ten Distinct Properties Spanning 330,000+ Acres in the Athabasca Basin Hatchet Lake Wolverine Murphy Lake South Epp Lake Turkey Lake Blackwing Torwalt Lake CLK Marten GR NASDAQ: FMST | CSE: FAT 26
Slide 27: Turkey Lake
Turkey Lake Underexplored Property with Known Mineralization Key Features One claim totaling 9,363 acres / 3,789 ha Under-tested Edge of Conductive Strike- Athabasca Beta length (~9km) ▪ Close to infrastructure Basin ▪ Shallow depth to unconformity (<50 m) ▪ Property straddles eastern edge of Athaba
Slide 28: Torwalt Lake
Torwalt Lake Surrounded by Uranium Operations Key Features One claim totaling 2,007 acres / 812 ha McClean Lake Mill Richardson The Heldeth Túé Beta (Denison (22.5%) Beta ~12.8 Mlbs ▪ Well-situated within the infrastructure-rich eastern Torwalt Athabasca Basin Midwest A MurphyMlbs ~17.5 Lake South L
Slide 29: Hatchet Lake
Hatchet Lake The Property Background Key Features ▪ Consists of two non-contiguous claim blocks: the Richardson grid, which consists of four claims; and the Hatchet South claim block or (Tuning Fork) which consists of five claims ▪ Shallow depth to unconformity with virtually untested basement poten
Slide 30: Wolverine
Wolverine High-Priority Drill-Ready Targets Defined by Radon Survey Completed in August 2025 Key Features Three claims totaling 12,444 acres / 5,036 ha New Radon Survey (893 data points): ▪ Identified two significant, open-ended anomalies: > >1 km-long NNE-trending anomaly strongly correlated with i
Slide 31: Epp Lake
Epp Lake Key Features Two claims totaling 2,138 acres / 865 ha Richardson Beta ▪ Depth to unconformity is about 800 m extension of C1 conductor trend, which is host to multiple EL-09 uranium showings east of Epp Lake Murphy Lake 0.1% USouth O / 1.1 m 3 8 › Elevated uranium enrichment above unconform
Slide 32: Marten
Marten Uranium Mineralization Associated with ~100m Unconformity Offset Key Features Two claims totaling 12,375 acres / 5,008 hectares in good standing until 2030 ▪ Anomalous, low-grade mineralization in historical drilling (0.07% U₃O₈ / 0.9 m in DDH 4682-2-79) ▪ Drilling by Denison identified up to
Slide 33: Blackwing & GR
Blackwing & GR Large-Scale Blue-Sky Potential in a Virgin Territory Key Features GR and Blackwing Properties GR – 194,187 acres / 78,585 ha in 16 claims Blackwing – 31,203 acres / 12,627 ha in 3 claims ▪ Staked in October 2023 ▪ Both projects situated atop regional structures, Black Bay Fault and Gr