Mr. David Cates reports

FOREMOST CLEAN ENERGY ANNOUNCES COMMENCEMENT OF INAUGURAL DRILL PROGRAM AT THE TURKEY LAKE PROPERTY

Foremost Clean Energy Ltd. has commenced its first diamond drill program on the Turkey Lake uranium project in Northern Saskatchewan. The program is intended to test priority targets identified by integrating a ground gravity survey completed in January, 2026, with historical drilling, electromagnetic, magnetic and geological data.

Highlights:

• Historical uranium intersections highlight the potential of the Turkey Lake property and provide a foundation for additional exploration.
• The property has more than 10 kilometres of underexplored conductive strike length, with priority targets refined by a ground gravity survey completed in January, 2026.
• Given the shallow depths (fewer than 50 metres of sandstone cover) to most exploration targets on the property, multiple targets can be tested with relatively few metres drilled -- a 1,000-metre drill program is planned to test approximately four target areas.

Cameron MacKay, PGeo, vice-president of exploration for Foremost, commented: "Turkey Lake is an example of the depth of Foremost's exploration portfolio. The property has multiple attractive target areas, and, through our review of historical exploration carried out by Denison and the integration of the new gravity survey completed by Foremost, we have generated several priority targets for drill testing.

"The value of the gravity survey is in how it helps us distinguish targets along a long conductive corridor. We prioritized locations where gravity lows coincide with conductors and/or interpreted structural features and then used the historical drilling to provide valuable geological context to plan our specific drill targets. The program is intended to test whether these features reflect alteration and structures capable of hosting uranium mineralization, which could occur both near the shallow unconformity and within the basement. Given Turkey Lake's location straddling the margin of the Athabasca basin, the targets are also relatively shallow, which allows for multiple targets to be tested with relatively few metres of drilling."

Historical work provides a foundation for the next steps

Turkey Lake is located along the northeastern margin of Saskatchewan's Athabasca basin, approximately 23 kilometres north of the McClean Lake mill and 25 kilometres north of the Eagle Point mine. Historical drilling and geophysical and geochemical surveys provide a foundation for refining and testing targets at Turkey Lake.

Previous drilling identified uranium mineralization, including:

• 0.16 per cent triuranium octoxide over 0.6 metre in hole TUR-4 immediately above the sub-Athabasca unconformity;
• 0.12 per cent U3O8 over 0.5 metre in hole TL-10-13; and
• Elevated radioactivity in nearby follow-up drilling, providing additional indications of uranium potential along the conductive corridor.

The 2026 gravity survey builds on this work, helping prioritize targets along the broader corridor.

The historical drilling results referred to in this news release are derived from public assessment files filed with the government of Saskatchewan. The qualified person has not independently verified these historical results, and they should not be relied upon as indicative of the grade or extent of mineralization on the property.

A shallow setting with room for further exploration

The property straddles the edge of the Athabasca basin, meaning it spans both sandstone-covered ground and exposed basement terrain outside of the basin's margin. Where sandstone is present, its thickness is fewer than 50 metres, placing the sandstone-basement contact, or unconformity, at shallow depths. The unconformity is a common target for uranium mineralization.

More than 10 kilometres of underexplored conductive strike length provides scope to test for both unconformity-related and basement-hosted uranium mineralization. Historical uranium intersections establish an exploration starting point while the new gravity data help prioritize where to test within the broader corridor.

New gravity data sharpen targets along an underexplored corridor

The ground gravity survey completed in January, 2026, identified multiple gravity low anomalies. These are interpreted as possible zones of hydrothermal alteration and potential fluid pathways. Several coincide with electromagnetic conductors and magnetic features, allowing the company to focus drilling on locations where multiple geological features and data sets point to the existence of a common geological target.

The top targets generated from the gravity survey have been grouped into: (i) those situated along the edge of the Athabasca basin with the potential for unconformity-hosted mineralization; and (ii) those outside of the basin, which lack sandstone cover and thus represent targets for basement-hosted mineralization.

Qualified person

The technical content of this news release has been reviewed and approved by Mr. MacKay, PGeo, vice-president of exploration for Foremost, a qualified person under National Instrument 43-101.

About Foremost Clean Energy Ltd.

Foremost 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 has a portfolio of 10 property interests spanning over 330,000 acres in the prolific, uranium-rich Athabasca basin region of Northern Saskatchewan. Upon completion of the transaction announced on Oct. 22, 2026, Foremost will hold an option from Denison Mines Corp. to increase its interest to up to 70 per cent in eight prospective uranium properties (other than Hatchet Lake, in which Foremost can earn up to 51 per cent), and a minority (20 per cent) ownership interest in the GR and Blackwing joint ventures with Denison.

The company's uranium 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.