Mr. Jason Barnard reports

FOREMOST CLEAN ENERGY RECEIVES SASKATCHEWAN EXPLORATION INCENTIVE FUNDING TO ADVANCE URANIUM PORTFOLIO

Foremost Clean Energy Ltd. 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 continuing geological, geophysical and drill target development activities.

Jason Barnard, president and chief executive officer 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 and 266,035 restricted share units (RSUs), collectively, 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 Stock Market requirements and a have a term of five years. The awards vest in three equal annual instalments 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 Clean Energy Ltd.

Foremost 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 centres 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 a 70-per-cent interest in 10 prospective uranium properties (except for the Hatchet Lake, where Foremost can earn up to 51 per cent), 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 historical drilling and geophysical data across its portfolio, including programs completed by Denison providing a validated road map 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-plus acres in Manitoba, providing exposure to other critical materials essential in electrification and energy storage.

We seek Safe Harbor.