Mr. David Cates reports

FOREMOST CLEAN ENERGY FILES EARLY WARNING REPORT WITH RESPECT TO RIO GRANDE RESOURCES

Foremost Clean Energy Ltd. has filed an early warning report in respect of Rio Grande Resources Ltd.

On Aug. 24, 2026, Rio Grande announced the closing of a private placement raising total gross proceeds of $2,546,500, resulting in the issuance of 12,732,500 units at a price of 20 cents per unit. Each unit consists of one Rio Grande common share and one transferable Rio Grande share purchase warrant. Each Rio Grande warrant entitles the holder to acquire one Rio Grande share at an exercise price of 40 cents for a period of two years from the date of issuance.

Immediately prior to the Rio Grande private placement, the company owned 5,152,558 Rio Grande shares, representing approximately 11.01 per cent of the issued and outstanding Rio Grande shares.

Immediately following the Rio Grande private placement, in which the company did not participate, the company's interest in Rio Grande decreased to approximately 8.65 per cent of the issued and outstanding Rio Grande shares. Accordingly, the company is no longer subject to the early warning reporting requirements in respect of Rio Grande, as the company has fallen below the 10 per cent reporting threshold.

This press release is being issued pursuant to National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report will be available under the company's profile on SEDAR+.

About Foremost Clean Energy Ltd.

Foremost Clean Energy is a North American uranium, lithium and gold exploration company strategically positioned to support the long-term growth in demand expected for reliable, carbon-free energy sources.

The company holds an option from Denison Mines Corp. to earn up to a 70-per-cent interest in 10 prospective uranium properties (except for the Hatchet Lake property, 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's exploration efforts benefit from access to extensive historic drilling and geophysical data 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 exploration targets for follow-up drilling.

Foremost also has a portfolio of lithium-focused 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.