Foremost Clean Energy Ltd. (NASDAQ: FMST; CSE: FAT) has announced it has received a three-year exploration permit from the Saskatchewan Ministry of Environment for its Hatchet Lake Uranium Project, located in the resource-rich Athabasca Basin of northern Saskatchewan. The permit, valid through December 28, 2028, allows for up to 50 drill holes to be completed over the period.

In conjunction with the newly approved permit, the company is moving forward with a 3,000-metre winter drill program for the 2025–2026 season. The upcoming campaign, referred to as Phase 2, will focus on expanding the recently announced Tuning Fork discovery and testing additional high-priority uranium targets originally outlined through historic work by Denison Mines Corp. (NYSE American: DNN; TSX: DML).

“Securing this three-year permit is an important milestone, as it provides Foremost with significant runway to explore this highly prospective property and rapidly follow-up positive results,” said Jason Barnard, President and CEO of Foremost. He emphasized the broader significance of this project, citing global nuclear energy trends and growing energy demands from AI and digital infrastructure. “The uranium industry is at a historic inflection point... Nuclear energy is the only scalable solution—and investment in uranium exploration now is necessary to meet the projected demands of a growing fleet of nuclear power plants.”

Winter Drill Program Highlights:

• Expansion of the Tuning Fork Zone: Building on drill hole TF-25-16, which intersected 0.10% eU₃O₈ over 6.5 metres (including 0.22% over 0.9 metres), with assay results pending.
  
  
• Richardson Trend Testing: Focus on historically defined targets advanced by Denison Mines.
  
  
• Beta Grid Assessment: Targeting areas with a known 35-metre unconformity offset based on prior drill data.

The company describes its approach as a “disciplined, high-impact exploration strategy” aimed at uncovering unconformity-related uranium deposits across the Athabasca Basin. Alongside its work at Hatchet Lake, Foremost is also advancing its Murphy Lake South project and multiple lithium properties across Manitoba and Quebec.

The technical details in this update have been reviewed by Cameron MacKay, P.Geo., Foremost’s Vice President of Exploration and a Qualified Person as defined under National Instrument 43-101. While some historic data has yet to be independently verified, the company considers it an important guide for future exploration.

Foremost holds an option to earn up to 51% interest in the Hatchet Lake project and up to 70% in nine other uranium properties across more than 330,000 acres through its agreement with Denison Mines.