Foremost Clean Energy
Foremost Clean Energy is a rapidly growing North American uranium 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 330,000 acres. With drill–ready targets on identified conductors on important structural trends and proximal discoveries, our portfolio is well-positioned to capitalize on the growing demand for uranium as a crucial component of a sustainable energy future.
We also maintain upside potential through a secondary portfolio of lithium projects with significant past drilling spanning 50,000+ acres primed for long-term development.
Where Vision
Meets Value
The Foremost/ Denison Advantage
Transformational
An option to acquire up to 70% of Denison's 10 prospective uranium projects in the Athabasca Basin
Significant Endorsement
This groundbreaking collaboration is set to elevate Foremost's market presence, leveraging Denison's proven success for a powerful boost in awareness
Nasdaq Listed: FMST
Denison strong trading volume on the NYSE indicates a healthy demand and engaged investor base, providing a direct opportunity to tap into their market reach and investor connections
On-Going Support
Backed by Denison, C$2.9B Canadian uranium producer and developer, will provide technical, operational, and financial support
Early Entry Opportunity
Tightly held, with only 10M shares outstanding with significant insider and institutional backing, set to pave the way for exceptional upside
Geological Collaboration
A new collaboration of two great geologists with proven track-records, Jody Dahrouge and Andy Yackulic, to increase the potential of unprecedented new uranium discoveries
PROPERTY HIGHLIGHTS
FULLY FUNDED: $6.5 million designated for a 2025 exploration program on a diverse portfolio including grassroots to those with significant historical exploration and previous drilling.
DISCOVERY READY TARGETS: Contains drill ready and drill permitted projects with identified mineralization along strike of recent major discoveries.
POSITIVE PRELIMINARY RESULTS: The Company recently completed a drill program at the Hatchet Lake Project a with confirmed uranium mineralization directly above the unconformity.
Figure 1. Map of Foremost’s Properties Surrounded by Mines, Mills and Deposits
Uranium Market Highlights
Figure 2. Uranium Industry Drivers
Uranium Environment
- Rising clean energy demands are setting the foundation for long-term nuclear power growth, driven by the rising need for clean, carbon-free electricity
- Supply side set to decline due to structural deficit and mine depletion
- Energy Security is critical as heightened geopolitical tensions conversely impacts the market, adding to uncertainty in future uranium production
Power Data Centre Growth
- Given the need for data centre build-outs for AI technology, nuclear power is viewed as a favourable energy choice
- Big Tech companies such as Microsoft, Google and Amazon have made recent headlines investing in nuclear energy to meet the demands of generative artificial intelligence
- Power needs for AI data centres represents a blue-sky scenario for uranium demand
Analysts’ Projections
- RBC predicts that uranium pricing may increase under Trump's proposed tariffs as Canadian imports represent around 25% of US requirements and US producers have been slow to ramp up
- Morgan Stanley projects seeing an improved risk/reward pricing dynamic.
- CITI believes recent developments in the US represent a new start and wave in nuclear energy, akin to the 1970s and 1980s
“One thing is certain, more investment into uranium supply is required to keep pace with its growing demand” - RBC Capital Markets
Capitalization and Balance Sheet
| TICKERS: | NASDAQ:FMST CSE:FAT |
| Share Price(1) | C$1.5 |
| 52-Week Trading Range(1) | C$1.36 - C$4.31 |
| Basic Shares Outstanding(1) | 10.34M |
| Options(1) | 0.47M |
| RSUs(2) | 0.22M |
| Warrants(1) | 4.64M |
| FD Shares Outstanding(1) | 15.67M |
| Market Capitalization (Basic)(1) | C$15.51M |
| Cash(2) | C$9.4M |
| Debt(3) | C$3.2M |
1. As of February 07, 2025
2. As of November 18, 2024
3. As of November 14, 2024; Includes $1.125M shareholder loan from President and CEO
Unlocking the Keys for Success
Exploration
- Highlights from geophysical data compilation on historic and current exploration include up to 0.45% U3O8 in over 2.3 m; up to 2.52% U3O8 in over 0.15 m; and up to 8,600 ppm U hosted in pitchblende stringers in upper basement
- Past drilling confirms uranium mineralization in historic shallow to depth unconformity and basement targets demonstrating exciting up-side potential warranting further drilling
Location
- Premier projects situated in Athabasca Basin - An established and highly-attractive mining jurisdiction producing ~15% of world’s primary uranium supply
- Discovery ready holes are within or alongside significant structures and trends including he Wollasten Mudjatik Transition Zone and LaRoque Lake Conductive corridor, which hosts the Hurricane Deposit
Prime Opportunity
- The potential for a much higher share appreciations and growth, as exponential appreciation typically occurs during the discovery phase which Foremost is entering
- Instead of focusing on just one project Foremost strategically hold options on ten distinct properties. This diversified approach allows us to pursue multiple promising targets concurrently, significantly boosting our chances of making a major discovery.
