Foremost Clean Energy Reports Results of its Historic Core Sampling Program at its Jean Lake Property

Rhea-AI Summary

Foremost Clean Energy (NASDAQ: FMST) reported results from a targeted gap-fill resampling of historic 2023 core at its 100%‑owned Jean Lake gold‑lithium property, near Snow Lake, Manitoba. Key assays include FM23-25: 1.10 g/t Au over 8.0 m and FM23-08: 0.64 g/t Au over 10.4 m. Integrated results extend mineralization beyond prior intercepts and help define the Valkyrie structural corridor, now traced over ~600 metres strike. Results will inform step‑out and infill drilling; reported intervals are downhole lengths and true widths remain undetermined.

Positive

• FM23-25 returned 1.10 g/t Au over 8.0 m (2025 gap-fill resample)
• Valkyrie Gold Trend now traced over ~600 metres strike length
• Resampling identified additional mineralized intervals previously unassayed, improving continuity

Negative

• All intervals reported as downhole lengths; true widths not yet determined
• A qualified person has not validated historical results under NI 43‑101

News Market Reaction – FMST

+5.91%

3 alerts

+5.91% News Effect

+$2M Valuation Impact

$34M Market Cap

0.5x Rel. Volume

On the day this news was published, FMST gained 5.91%, reflecting a notable positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $34M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Gold intercept FM23-25: 1.10 g/t Au over 8.0 m Gold intercept FM23-08: 0.64 g/t Au over 10.4 m Valkyrie strike length: 600 metres +5 more

8 metrics

Gold intercept FM23-25 1.10 g/t Au over 8.0 m Gap-fill resample from 22.0–30.0 m at Jean Lake

Gold intercept FM23-08 0.64 g/t Au over 10.4 m Gap-fill resample 106.5–116.9 m along Valkyrie Trend

Valkyrie strike length 600 metres Gold trend traced along Valkyrie structural corridor

Net loss $4.17 million Nine months ended Dec 31, 2025 (Form 6-K)

Operating cash flow -$6.13 million Nine months ended Dec 31, 2025 (Form 6-K)

Cash balance $4.08 million As of Dec 31, 2025 (Form 6-K)

Total assets $35.94 million Including $29.08M exploration and evaluation assets

Exploration assets $29.08 million Exploration and evaluation assets on balance sheet

Market Reality Check

Price: $2.33 Vol: Volume 94,488 is 0.42x th...

low vol

$2.33 Last Close

Volume Volume 94,488 is 0.42x the 20-day average of 226,425, indicating muted trading interest ahead of this update. low

Technical Price at $2.20 is trading below the 200-day MA at $2.85, despite recent positive drill-related news flow.

Peers on Argus

FMST gained 1.85% while peers showed mixed moves: LITM up 4.59%, WWR up 5.58%, E...

1 Down

FMST gained 1.85% while peers showed mixed moves: LITM up 4.59%, WWR up 5.58%, ELBM slightly down, and others flat. Momentum scanner flagged WWR moving down earlier, underscoring company-specific rather than broad sector-driven trading for FMST.

Historical Context

5 past events · Latest: Feb 25 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 25	Gold drill results	Positive	+1.9%	Final 2025 Jean Lake drill assays with high‑grade near‑surface gold intercepts.
Feb 19	Conference participation	Positive	+1.7%	Announcement of presentation at Red Cloud’s Pre‑PDAC Mining Showcase in Toronto.
Feb 09	Uranium drill program	Positive	+20.1%	Planned 5,000‑metre Hatchet Lake uranium drilling following discovery hole TF‑25‑16.
Jan 15	IR engagement	Positive	-1.4%	Engagement of RedChip for investor relations and strategic communications outreach.
Jan 14	Lithium, gold results	Positive	+3.3%	Positive lithium assays and strong gold intercepts at Jean Lake Gold‑Lithium Property.

Pattern Detected

Recent exploration and corporate news have generally coincided with positive price reactions, with only the IR engagement release showing a modest divergence.

Recent Company History

Over the past months, Foremost has consistently reported exploration progress and corporate positioning. On Feb 25, 2026, final 2025 Jean Lake drill results with high‑grade gold intercepts coincided with a 1.85% gain. Earlier, a 5,000‑metre Hatchet Lake uranium drill program announcement on Feb 9 saw a 20.1% move. Lithium and gold assay updates at Jean Lake on Jan 14 also aligned with a positive reaction. Only the Jan 15 RedChip IR engagement paired upbeat messaging with a mild negative price response.

Market Pulse Summary

The stock moved +5.9% in the session following this news. A strong positive reaction aligns with For...

Analysis

The stock moved +5.9% in the session following this news. A strong positive reaction aligns with Foremost’s recent pattern where exploration updates, such as the high‑grade Valkyrie Trend results on Feb 25, 2026, coincided with gains. However, the stock still traded below its 200‑day MA at $2.85 and the company reported a $4.17M net loss with going‑concern uncertainty. Investors would need to weigh how quickly new gold intercepts like 1.10 g/t over 8.0 m could translate into de‑risking.

Key Terms

fire assay, atomic absorption spectrometry, gravimetric finish, ICP-AES, +4 more

8 terms

fire assay technical

"Gold analyses were performed by 30 g Fire Assay with Atomic Absorption..."

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

atomic absorption spectrometry technical

"30 g Fire Assay with Atomic Absorption Spectrometry finish (method GE_FAA30V5)..."

A lab technique that uses specific wavelengths of light to detect and measure tiny amounts of metal atoms in a sample, like using a tuned flashlight to make only certain metal particles glow so you can count them. Investors watch these results because they affect product safety, environmental compliance, mining grades and regulatory approvals; accurate measurements can change costs, liabilities and the value of companies tied to metals or contamination.

gravimetric finish technical

"re-assayed by 30 g Fire Assay with Gravimetric finish (method GO_FAG30V)..."

A gravimetric finish is a precise way of measuring the final weight of a product or material after processing or manufacturing. It ensures that the final amount meets exact standards, similar to weighing ingredients carefully in cooking. For investors, it indicates attention to quality control and consistency, which can impact a company's reputation and product reliability.

ICP-AES technical

"57-element sodium peroxide fusion ICP-AES/ICP-MS package (method GE_ICM91A50)..."

ICP-AES (Inductively Coupled Plasma–Atomic Emission Spectroscopy) is a laboratory technique that identifies and measures the amounts of metals and other elements in a sample by turning the sample into a hot glowing gas and reading the light colors it emits—like using a prism to tell which ingredients are present and how much. Investors care because it provides reliable, quantitative proof of metal content, contamination levels or product purity, which affects resource valuation, regulatory compliance and product quality across mining, manufacturing and environmental contexts.

ICP-MS technical

"57-element sodium peroxide fusion ICP-AES/ICP-MS package (method GE_ICM91A50)..."

Inductively Coupled Plasma Mass Spectrometry (ICP-MS) is a scientific technique used to detect and measure very small amounts of metals and other elements in a sample. It works like a highly sensitive scanner, helping researchers identify the presence of specific materials with great accuracy. For investors, understanding ICP-MS is important because it highlights advanced methods used in industries such as mining, environmental testing, and manufacturing, influencing the valuation and risks of related companies.

sodium peroxide fusion technical

"Multi-element geochemical analyses were completed using the 57-element sodium peroxide fusion..."

Sodium peroxide fusion is a laboratory technique that uses oxidizing powder heated with a solid sample to break it down into a form that can be chemically analyzed, like turning a hard rock into a readable liquid soup. Investors care because it's a standard way to measure metals, mineral grades or chemical contaminants accurately; the technique affects the reliability of assay results, regulatory compliance and the valuation or risk profile of resource or materials-related businesses.

ISO/IEC 17025 regulatory

"Analytical work was performed at SGS’s ISO/IEC 17025-accredited facilities..."

An internationally recognized accreditation for testing and calibration laboratories that confirms they produce reliable, traceable results and follow consistent quality controls. Think of it like a professional license for labs: it shows their methods, equipment and staff competence meet independent standards, which matters to investors because accredited test data lowers technical and regulatory risk, supports product claims, and can speed approvals, supplier selection, and market trust.

national instrument 43-101 regulatory

"a Qualified Person under National Instrument 43-101. A qualified person has not performed..."

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

AI-generated analysis. Not financial advice.

Targeted Re-Sampling of Previously Unassayed 2023 Intervals Expands Understanding Of Gold Distribution Along The Valkyrie And Midas Trends

VANCOUVER, British Columbia, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ("Foremost" or the "Company") is pleased to report results from its targeted historic core resampling program at its 100%-owned Jean Lake Gold-Lithium Property (“Jean Lake”), located near the historic mining centre of Snow Lake in Manitoba. This program was completed following the Company’s December 2025 diamond drill campaign and focused on resampling previously unsampled intervals from select 2023 drillholes along the Valkyrie and Midas Gold Trends (see News Release dated December 8, 2025). Highlights include:

• FM23-25: 1.10 g/t Au over 8.0 metres from 22.0–30.0m, including 6.9 g/t Au over 0.5 metres
• FM23-08: 0.64 g/t Au over 10 metres from106.5-116.9m

The objective of this work was to address underrepresented sampling in certain mineralized sections, improve continuity interpretation between previously reported intercepts, and refine the Company’s understanding of gold distribution within the broader structural corridor.

Jason Barnard, Foremost’s President commented: “This targeted resampling program was designed to address previously unsampled intervals within mineralized sections and improve the representation of gold distribution within historical drill core. Systematic sampling of previously unassayed intervals has identified additional mineralized sections and provides a more complete representation of gold distribution within the Valkyrie structural corridor. These results support refinement of the geological interpretation and will inform step-out and infill drill targeting in the next phase of exploration at Jean Lake.”

Figure 1. Jean Lake – Gold Assay Results by Drillhole (2023 + 2025)

Integrated Results Summary

The results presented here include both previously reported gold intercepts from the Company’s 2023 drill program (see News Release dated June 6, 2023) and new assay results generated from the Company’s 2025 gap-fill re-sampling program. The additional assays demonstrate that mineralization extends beyond previously reported intercepts and occurs through intervals that had not been systematically sampled. The integration of these results provides a more complete representation of gold distribution within the drilled sections and supports ongoing refinement of the structural and geological model along the Valkyrie Gold Trend. See Table 1 below for a summary of significant intercepts from the 2023 drill program and the 2025 resampling program.

Table 1 – Summary of Significant Gold Intercepts (2023 Drilling + 2025 Gap-Fill Resampling)

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Data Source	Program Type	Notes
FM23-04A	36.0	37.0	1.0	0.53	2025	Gap-fill resample	Previously unassayed interval
FM23-04A	73.8	76.5	2.7	11.30	2023	Original assay
FM23-04A (incl.)			0.3	91.8	2023	Original assay	Included within 73.8–76.5m
FM23-05	68.6	68.9	0.3	1.30	2023	Original assay
FM23-05	72.7	73.0	0.3	0.65	2023	Original assay
FM23-05	82.4	83.5	1.1	1.90	2023	Original assay
FM23-05	86.2	86.5	0.3	3.05	2023	Original assay
FM23-05	101.6	101.9	0.3	0.51	2023	Original assay
FM23-05	120.0	121.5	1.5	0.66	2025	Gap-fill resample	Previously unassayed interval
FM23-05	122.6	123.0	0.4	0.58	2023	Original assay
FM23-08	11.3	11.7	0.3	1.44	2023	Original assay
FM23-08	15.3	15.7	0.4	0.54	2023	Original assay
FM23-08	94.4	101.6	7.3	7.85	2023	Original assay	Re-calculated weighted average
FM23-08 (incl.)			0.5	102	2023	Original assay	Included within 94.4–101.6m
FM23-08	106.5	116.9	10.4	0.64	2025	Gap-fill resample	Gap-fill between prior mineralized intervals
FM23-08A	48.0	49.5	1.5	0.55	2023	Original assay
FM23-08A	95.2	95.7	0.5	0.79	2023	Original assay
FM23-13	121.3	122.5	1.2	0.94	2023	Original assay
FM23-25	22.0	30.0	8.0	1.10	2025	Gap-fill resample	Interval incorporates newly assayed gaps
FM23-25 (incl.)			0.5	6.9	2025	Gap-fill resample	Included within 22.0–30.0m
FM23-25	69.0	72.0	3.0	1.05	2025	Gap-fill resample	Interval incorporates newly assayed gaps
FM23-25	85.0	85.8	0.8	1.28	2025	Gap-fill resample	Previously unassayed interval
FM23-25	91.0	97.5	6.5	0.54	2025	Gap-fill resample	Previously unassayed interval
FM23-25 (incl.)			0.5	4.0	2025	Gap-fill resample	Included within 91.0–97.5m
FM23-25	107.0	107.5	0.5	0.59	2025	Gap-fill resample	Previously unassayed interval

Notes:  All reported assay results greater than 0.5 g/t Au are presented in Table 3. Drill holes not included did not return intervals above this threshold. Intervals are reported as downhole lengths; true widths have not yet been determined.

*FM23-08 94.4–101.6m: Reflects corrected weighted-average interval

Next Steps

The Company will integrate the new gap-fill assay results from the 2023 drill core with the recently announced 2025 drill program results (see news release dated February 25, 2026). Together, these datasets provide a more comprehensive understanding of gold distribution along the Valkyrie Trend, which has now been traced over approximately 600 metres of strike length. This updated interpretation will be used to refine geological and structural models, with a focus on:

• Defining mineralized envelopes within the historically drilled corridor;
• Targeting higher-grade zones hosted within broader low-grade envelopes;
• Prioritizing follow-up drill holes to test continuity along strike and at depth.
  

The integration of resampled intervals with 2025 drill results will assist with next phase of exploration, which is expected to include both step-out and infill drilling aimed at expanding the mineralized footprint and advancing the Valkyrie Trend.

Sampling, Analytical Methods and QA/QC

All drill core samples from the Jean Lake gold drilling program were collected as NQ-sized core. In zones of visible quartz-veining, sericite alteration, and arsenopyrite mineralization, samples were typically taken at 50 cm intervals. Outside of these zones, holes were continuously sampled at 1.5 m intervals. All core was sawn longitudinally, with one half retained on site for reference and the other half submitted for analysis. Samples were shipped to SGS Canada Inc., Burnaby, British Columbia, for sample preparation and analysis. At SGS, samples were dried at 105°C, crushed to 75% passing 2 mm, and pulverized to 85% passing 75 microns (method PRP89). Gold analyses were performed by 30 g Fire Assay with Atomic Absorption Spectrometry finish (method GE_FAA30V5) with a detection range of 5–10,000 ppb Au. Samples returning values above the upper detection limit were re-assayed by 30 g Fire Assay with Gravimetric finish (method GO_FAG30V) with a reporting range of 0.5–10,000 ppm Au. Multi-element geochemical analyses were completed using the 57-element sodium peroxide fusion ICP-AES/ICP-MS package (method GE_ICM91A50), which provides detection limits suitable for trace-level pathfinder elements such as As, Sb, and W relevant to gold mineralization. Analytical work was performed at SGS’s ISO/IEC 17025-accredited facilities, which operate under strict internal QA/QC protocols.

Quality control procedures at SGS include the routine insertion of blanks, certified reference materials (standards), and duplicates at a minimum frequency of 11–12% of all analyses, depending on method and grade classification. Laboratory quality is monitored through SGS’s SLIM Laboratory Information Management System, which automatically flags data exceeding internal precision or accuracy thresholds and triggers reanalysis when necessary. Foremost’s internal QA/QC protocol includes the insertion of field duplicates, certified standards, and blanks into the sample stream at regular intervals to independently monitor analytical precision and contamination. All reported intervals represent downhole lengths, and true thicknesses have not yet been determined.

Qualified Person

The technical content of this news release has been reviewed and approved by Cameron MacKay, P. Geo., Vice President of Exploration for Foremost Clean Energy Ltd., and a Qualified Person under National Instrument 43-101.

A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.

About Foremost

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option from Denison Mines Corp. (“Denison”) to earn up to 70% interest in 10 prospective uranium properties (except for the Hatchet Lake, where Foremost can earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost’s uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company’s mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs.

Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company’s website at www.foremostcleanenergy.com.

Contact and Information

Company
Jason Barnard, President and CEO
+1 (604) 330-8067 
info@foremostcleanenergy.com

Investor Relations
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
FMST@redchip.com

Follow us or contact us on social media:
X: @fmstcleanenergy
LinkedIn: https://www.linkedin.com/company/foremostcleanenergy  
Facebook: https://www.facebook.com/ForemostCleanEnergy

Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute “forward-looking statements” as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect,” “is expected,” “anticipates” or “does not anticipate,” “plans,” “estimates” or “intends,” or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the option agreement with Denison, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. and information. Please refer to the Company’s most recent filings under its profile at on Sedar+ at www.sedarplus.ca and on Edgar at www.sec.gov for further information respecting the risks affecting the Company and its business.

The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3cceedb-50e1-452f-b68a-32babbf223a3

FAQ

What were the standout assay results from Foremost (FMST) Jean Lake resampling on February 26, 2026?

The resampling highlighted FM23-25: 1.10 g/t Au over 8.0 m and FM23-08: 0.64 g/t Au over 10.4 m. According to the company, these gap-fill assays extend mineralization beyond prior intercepts and improve continuity along drilled sections.

How much strike length has the Valkyrie Trend at Jean Lake shown after FMST's updated interpretation?

The Valkyrie structural corridor has been traced over approximately 600 metres of strike. According to the company, the integrated 2023 and 2025 datasets support refined geological and structural models for targeting.

Will Foremost (FMST) use the resampling results to plan further drilling at Jean Lake?

Yes — the company plans step‑out and infill drilling using the updated interpretation to test continuity and higher‑grade zones. According to the company, results will refine drill targeting along strike and at depth.

Are the reported assay intervals from FMST at Jean Lake true widths or downhole lengths?

All reported intervals are downhole lengths; true thicknesses have not been determined. According to the company, further work is required to establish true widths before volumetric estimates can be made.

What laboratory methods did Foremost (FMST) use for Jean Lake gold analyses in 2025?

Samples were analyzed at SGS using 30 g fire assay with AAS finish, with gravimetric re‑assay for high values, and a 57‑element ICP package for pathfinders. According to the company, SGS used ISO/IEC 17025‑accredited procedures and QA/QC.

How reliable are the historical 2023 results integrated with the 2025 resampling for FMST's Jean Lake model?

Historical results have not been fully validated under NI 43‑101 by a qualified person, so they may be less reliable. According to the company, these historical assays still provide an indication of the property's potential for planning exploration.