Foremost Clean Energy (NASDAQ: FMST) secures $50K grant and issues new equity awards

Rhea-AI Filing Summary

Foremost Clean Energy Ltd. reported receiving a $50,000 grant from Saskatchewan’s Targeted Mineral Exploration Incentive program to support its uranium exploration work in the Athabasca Basin. The company plans to use the funds for geological, geophysical and drill-target development on its Saskatchewan uranium portfolio.

Foremost also granted 201,969 stock options and 266,035 restricted share units under its Long-Term Incentive Plan to directors, officers, employees and consultants. The options are exercisable at $2.30 per share for five years, and all awards vest in three equal tranches on April 1, 2027, April 1, 2028 and April 1, 2029, aligning management and staff with long-term shareholder interests.

Key Figures

TMEI grant amount: $50,000 Stock options granted: 201,969 options RSUs granted: 266,035 RSUs +5 more

8 metrics

TMEI grant amount $50,000 Saskatchewan Targeted Mineral Exploration Incentive funding for uranium projects

Stock options granted 201,969 options Equity awards under Long-Term Incentive Plan

RSUs granted 266,035 RSUs Restricted share units granted to directors, officers, employees and consultants

Option exercise price $2.30 per share Exercise price for newly granted stock options

Option term 5 years Term of newly granted stock options

Award vesting dates April 1, 2027/2028/2029 Three equal annual vesting installments for options and RSUs

Athabasca uranium acreage 330,000+ acres Prospective uranium properties in northern Saskatchewan

Manitoba lithium acreage 43,000+ acres Lithium project portfolio in Manitoba

Key Terms

Targeted Mineral Exploration Incentive, restricted share units, Long-Term Incentive Plan, forward-looking statements, +2 more

6 terms

Targeted Mineral Exploration Incentive financial

"funding under the Government of Saskatchewan's Targeted Mineral Exploration Incentive ("TMEI") Program"

A targeted mineral exploration incentive is a government or public program that offers financial support—such as grants, tax breaks, or reduced royalties—specifically aimed at encouraging companies to search for certain minerals or in certain regions. For investors it matters because the incentive lowers the cost and risk of exploration, can accelerate discoveries and project timelines, and therefore can raise the value and attractiveness of companies active where the incentive applies—think of it as a temporary coupon that makes a risky search for buried treasure cheaper and faster.

restricted share units financial

"granted a total of 201,969 stock options ... and 266,035 restricted share units (the "RSUs")"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

Long-Term Incentive Plan financial

"pursuant to the Company's Long-Term Incentive Plan"

A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.

forward-looking statements regulatory

"may constitute “forward-looking statements” as such term is used in applicable United States and Canadian laws"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Athabasca Basin technical

"Saskatchewan uranium project portfolio in the prolific Athabasca Basin"

A geological region in northern Saskatchewan, Canada, known for some of the richest uranium deposits in the world. For investors, it matters because projects and mines there drive uranium supply, exploration activity, and related mining investment — like a neighborhood where most of an industry’s factories are located, concentrating both opportunity and regulatory, infrastructure, and permitting risks that affect company value.

critical mineral sector technical

"The program supports the advancement of Saskatchewan's critical mineral sector"

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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 001-41769

Foremost Clean Energy Ltd.
(Translation of registrant's name into English)

750 West Pender Street, Suite 250
Vancouver, BC, V6C 2T7
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ]      Form 40-F [   ]

On June 17, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(c) Exhibit 99.1. Press release dated June 17, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Foremost Clean Energy Ltd.
		(Registrant)
Date: June 17, 2026		/s/ Jason Barnard
		Jason Barnard
		President and Chief Executive Officer

EXHIBIT 99.1

Foremost Clean Energy Receives Saskatchewan Exploration Incentive Funding to Advance Uranium Portfolio

VANCOUVER, British Columbia, June 17, 2026 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”) is pleased to announce that it has received funding under the Government of Saskatchewan's Targeted Mineral Exploration Incentive ("TMEI") Program, further demonstrating provincial support for the Company's uranium exploration activities in Saskatchewan. Foremost received a $50,000 grant based on eligible exploration expenditures incurred in the province, to support the continued advancement of the Company's Saskatchewan uranium project portfolio in the prolific Athabasca Basin.

The TMEI program is designed to encourage private sector investment in mineral exploration by providing eligible companies with funding for qualifying exploration expenditures. The program supports the advancement of Saskatchewan's critical mineral sector and helps accelerate the development of projects that contribute to North America's clean energy supply chain. Foremost intends to apply the grant proceeds toward the advancement of its Saskatchewan uranium exploration portfolio through ongoing geological, geophysical and drill-target development activities.

Jason Barnard, President and CEO of Foremost Clean Energy, commented: "We are grateful to the Government of Saskatchewan for its continued support of mineral exploration through the TMEI program. This funding recognizes the quality of exploration work completed by our technical team and will help support the continued advancement of our uranium projects in one of the world's premier mining jurisdictions. Saskatchewan remains a key jurisdiction for critical mineral development, and we look forward to continuing our exploration efforts across our highly prospective project portfolio.

Equity Compensation

Foremost also announces that it has granted a total of 201,969 stock options (the "Options") and 266,035 restricted share units (the "RSUs"), collectively, (the “Awards”), to certain directors, officers, employees and consultants of the Company pursuant to the Company's Long-Term Incentive Plan. The grants were approved by the Board of Directors on June 11, 2026.   The Awards are intended to align the interests of management, directors, employees and consultants with those of shareholders while supporting the Company's long-term growth strategy.

The Options are exercisable at $2.30 subject to applicable the Canadian Securities Exchange and Nasdaq requirements and a have a term of five years. The Awards vest in three equal annual installments on April 1, 2027, April 1, 2028 and April 1, 2029. All Awards are subject to the terms of the Company's Long-Term Incentive Plan and applicable securities law hold periods.

About Foremost

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a North American uranium and lithium exploration company strategically positioned to support the accelerating demand for reliable, carbon-free energy. As artificial intelligence, data centers, and electrification drive unprecedented growth in global power consumption, the expanding need for reliable nuclear baseload power creates a direct and critical imperative for the sustained exploration required to secure its uranium feedstock.

The Company holds an option from 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. The Company employs a data-driven exploration strategy supported by extensive historic drilling and geophysical data across its portfolio, including programs completed by Denison providing a validated roadmap and competitive advantage for targeting high-potential, mineralized trends. To date, Foremost has completed geophysical surveys and multiple drill campaigns that have generated encouraging results and defined high-priority, discovery-ready targets for follow-up drilling.

Foremost also has a portfolio of lithium projects at varying stages of development spanning 43,000+ acres in Manitoba, providing exposure to other critical materials essential in electrification and energy storage.

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
1-800-REDCHIP (733-2447)
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.

FAQ

What funding did Foremost Clean Energy (FMST) receive under Saskatchewan’s TMEI program?

Foremost Clean Energy received a $50,000 grant under Saskatchewan’s Targeted Mineral Exploration Incentive program. The funding is based on eligible exploration spending and supports continued advancement of the company’s uranium exploration portfolio in the Athabasca Basin region of northern Saskatchewan.

How will Foremost Clean Energy (FMST) use the $50,000 Saskatchewan exploration grant?

The $50,000 TMEI grant will be applied to Foremost’s Saskatchewan uranium exploration portfolio. The company plans to fund ongoing geological, geophysical and drill-target development work to advance its Athabasca Basin uranium projects within the province’s critical minerals sector.

What new equity compensation awards did Foremost Clean Energy (FMST) grant?

Foremost granted 201,969 stock options and 266,035 restricted share units to directors, officers, employees and consultants. These awards were approved on June 11, 2026 under the Long-Term Incentive Plan to better align key personnel with shareholders and support the company’s long-term growth strategy.

What are the terms of Foremost Clean Energy’s newly granted stock options?

The newly granted stock options are exercisable at $2.30 per share and have a five-year term. Alongside the RSUs, these awards vest in three equal annual installments on April 1, 2027, April 1, 2028 and April 1, 2029, subject to plan terms and securities laws.

What exploration assets does Foremost Clean Energy (FMST) hold in the Athabasca Basin?

Foremost holds an option from Denison to earn up to 70% interest in 10 prospective uranium properties, except Hatchet Lake where it can earn up to 51%. These properties together span over 330,000 acres in the uranium-rich Athabasca Basin region of northern Saskatchewan.

Does Foremost Clean Energy (FMST) have lithium projects in addition to uranium?

Yes. In addition to uranium exploration, Foremost maintains a portfolio of lithium projects in Manitoba. These lithium assets span more than 43,000 acres and provide the company with exposure to materials considered critical for electrification and energy storage applications in North America.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE 10.1 KB