Foremost Clean Energy Receives $50,000 Funding
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 17 2026
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Foremost Clean Energy announced that it has received funding under the Government of Saskatchewan's Targeted Mineral Exploration Incentive, or 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.
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About FMST
Foremost Clean Energy Ltd is a Canada-based uranium and lithium exploration company. The Company's 10 uranium exploration projects span over 45 claims across 134,509 hectares in the Athabasca Basin, separated into two distinct zones: The Eastern Athabasca Uranium Properties and The Blue-Sky Uranium Properties. The seven projects that are identified in the Eastern Athabasca Uranium area consist of Murphy Lake South, Hatchet Lake, Turkey Lake, Torwalt Lake, Marten, Wolverine, and Epp Lake. The Blue Sky Properties consists of three projects encompassing over 102,000 hectares. The three projects identified in the Blue Sky Property area consist of Blackwing, GR, and CLK. The Company also maintains a secondary portfolio of lithium projects at different stages of development spanning over 50,000+ acres across Manitoba and Quebec. The Lithium Lane Properties spans four distinct projects in Manitoba, over 43,000+ acres consisting of projects, namely Zoro, Jean Lake, Peg North, and Grass River.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Foremost Secures Funding from Saskatchewan for Uranium Exploration
- Funding Support: Foremost Clean Energy Ltd. has received a $50,000 grant from Saskatchewan's Targeted Mineral Exploration Incentive (TMEI) program to support its uranium exploration activities in the Athabasca Basin, demonstrating provincial backing for the company's mining initiatives.
- Project Advancement: The funding will be applied towards advancing Foremost's uranium project portfolio in Saskatchewan, including geological, geophysical, and drill-target development activities, thereby accelerating the company's growth within North America's clean energy supply chain.
- Equity Incentive Plan: Foremost has granted 201,969 stock options and 266,035 restricted share units to directors, executives, and employees, aimed at aligning management interests with shareholders while supporting the company's long-term growth strategy.
- Market Outlook: Foremost's exploration strategy in uranium and lithium, combined with its 330,000 acres in the Athabasca Basin, indicates the company's proactive approach to securing mineral resources amid the rising global demand for reliable, carbon-free energy.
See More
Foremost Clean Energy Hosts Investor Webinar on Uranium Exploration
- Investor Webinar: Foremost Clean Energy is set to host a webinar on June 3, 2026, where CEO Jason Barnard will provide updates on the company's uranium exploration activities in the Athabasca Basin, likely drawing significant investor interest.
- Strategic Partnership: The collaboration with Denison Mines will enhance Foremost's access to historical data and technical expertise, supporting the advancement of high-priority drilling targets across its 10-property portfolio, thereby strengthening its competitive position in the uranium market.
- Diversified Exploration Plans: In addition to uranium, Barnard will outline the company's lithium and gold exploration initiatives, showcasing a disciplined, data-driven approach aimed at addressing the growing global demand for clean energy through multiple projects.
- Market Outlook Analysis: Barnard will discuss uranium market fundamentals and broader trends shaping the global nuclear energy sector, emphasizing the strategic significance of the company's efforts to meet future energy demands.
See More
Foremost Clean Energy Secures Share Subscription from Denison
- Share Issuance Details: Foremost Clean Energy will issue 137,590 common shares to Denison Mines at $2.44 per share for a total of $335,719.60, increasing Denison's ownership in Foremost from 15.1% to 15.8%.
- Use of Proceeds: The funds raised from this private placement will be directed towards advancing exploration in Foremost's 330,000-acre Athabasca Basin uranium portfolio, particularly the flagship Hatchet Lake project, which recently reported 1.0% eU₃O₈ over 1.4 meters, indicating strong mineral potential.
- Shareholding Changes Disclosure: Following the issuance, Denison will hold 2,600,000 common shares of Foremost and 607,600 warrants, representing approximately 17% of the issued and outstanding warrants, which will influence its future investment strategies.
- Investment Strategy Adjustment: Foremost intends to continuously evaluate its investment relationship with Denison and may decide to acquire or dispose of additional securities based on market conditions, leveraging its pre-emptive rights under the Investor Rights Agreement.
See More
Foremost Clean Energy Completes Key Exploration Surveys at CLK Uranium Property
- Exploration Survey Results: Foremost Clean Energy has completed the 2025 MobileMT electromagnetic and magnetic survey at its 25,753-acre CLK Uranium Property, covering 808 line-kilometers and revealing a complex geo-electrical environment that may provide critical insights for future drilling.
- Data Integration Progress: The company collaborated with Caur Technologies to complete an Ambient Noise Tomography (ANT) survey, deploying 221 sensors to gain deeper insights into structural features beneath the Athabasca unconformity, which is expected to further refine drilling targets.
- Historical Drill Highlights: Historical drill hole CLG-D1 intersected 8,600 ppm uranium (approximately 1.01% U3O8) at a depth of 862 meters, providing strong evidence of mineralization potential that supports future exploration initiatives.
- Multi-Phase Exploration Plan: The CLK Property is fully permitted for a multi-phase exploration program, including up to 30 diamond drill holes, demonstrating the company's flexibility and strategic commitment to advancing priority targets.
See More
Foremost Clean Energy Updates Uranium Exploration Progress
- Uranium Discovery Progress: Foremost's 2026 drilling program at the Hatchet Lake South Uranium Project has intersected unconformity-related uranium mineralization in five drillholes, with a high of 1.0% eU₃O₈, indicating significant potential and expansion opportunities for the site.
- Expanded Mineralization Area: Step-out drilling from discovery hole TF-25-16 has extended the mineralized footprint to over 150 meters of strike length, demonstrating the continuity and growing scale of uranium mineralization, which enhances the company's competitive position in the uranium market.
- Significant Drilling Results: To date, ten diamond drill holes totaling 2,113 meters have been completed, with five holes intersecting uranium mineralization exceeding the company's reporting threshold of 0.05% eU₃O₈, further validating the exploration value of the project.
- Clear Future Plans: The company intends to continue expanding the Tuning Fork Uranium Zone and test additional high-priority targets, aiming to define the geometry and controls of the mineralization through ongoing drilling to discover higher-grade uranium zones.
See More
Foremost Initiates Winter Drilling Program at Hatchet Lake
- Drilling Program Launch: Foremost Clean Energy Ltd. has commenced a ~5,000-meter winter drilling program at its Hatchet Lake uranium project, aimed at validating the continuity of uranium mineralization at the Tuning Fork area discovered in 2025, which is expected to drive further growth in the uranium market.
- Follow-Up on Historical Discovery: The drilling will focus on the Tuning Fork area, where previous drill hole TF-25-16 intersected 0.87% U₃O₈ over 0.45 meters, indicating significant uranium mineralization potential that could lay the groundwork for future discoveries.
- Expansion of Target Areas: In addition to Tuning Fork, the program is set to test multiple high-priority targets at both Hatchet Lake South and North, particularly the Beta Grid and Richardson SE areas, further enhancing the exploration value of the project.
- Strategic Importance: Through collaboration with Denison Mines, Foremost aims to achieve significant breakthroughs in uranium and lithium exploration, positioning the Hatchet Lake project as a key driver for future growth amid rising demand for clean energy.
See More
Foremost Secures Funding from Saskatchewan for Uranium Exploration
- Funding Support: Foremost Clean Energy Ltd. has received a $50,000 grant from Saskatchewan's Targeted Mineral Exploration Incentive (TMEI) program to support its uranium exploration activities in the Athabasca Basin, demonstrating provincial backing for the company's mining initiatives.
- Project Advancement: The funding will be applied towards advancing Foremost's uranium project portfolio in Saskatchewan, including geological, geophysical, and drill-target development activities, thereby accelerating the company's growth within North America's clean energy supply chain.
- Equity Incentive Plan: Foremost has granted 201,969 stock options and 266,035 restricted share units to directors, executives, and employees, aimed at aligning management interests with shareholders while supporting the company's long-term growth strategy.
- Market Outlook: Foremost's exploration strategy in uranium and lithium, combined with its 330,000 acres in the Athabasca Basin, indicates the company's proactive approach to securing mineral resources amid the rising global demand for reliable, carbon-free energy.
See More
Foremost Clean Energy Hosts Investor Webinar on Uranium Exploration
- Investor Webinar: Foremost Clean Energy is set to host a webinar on June 3, 2026, where CEO Jason Barnard will provide updates on the company's uranium exploration activities in the Athabasca Basin, likely drawing significant investor interest.
- Strategic Partnership: The collaboration with Denison Mines will enhance Foremost's access to historical data and technical expertise, supporting the advancement of high-priority drilling targets across its 10-property portfolio, thereby strengthening its competitive position in the uranium market.
- Diversified Exploration Plans: In addition to uranium, Barnard will outline the company's lithium and gold exploration initiatives, showcasing a disciplined, data-driven approach aimed at addressing the growing global demand for clean energy through multiple projects.
- Market Outlook Analysis: Barnard will discuss uranium market fundamentals and broader trends shaping the global nuclear energy sector, emphasizing the strategic significance of the company's efforts to meet future energy demands.
See More
Foremost Clean Energy Secures Share Subscription from Denison
- Share Issuance Details: Foremost Clean Energy will issue 137,590 common shares to Denison Mines at $2.44 per share for a total of $335,719.60, increasing Denison's ownership in Foremost from 15.1% to 15.8%.
- Use of Proceeds: The funds raised from this private placement will be directed towards advancing exploration in Foremost's 330,000-acre Athabasca Basin uranium portfolio, particularly the flagship Hatchet Lake project, which recently reported 1.0% eU₃O₈ over 1.4 meters, indicating strong mineral potential.
- Shareholding Changes Disclosure: Following the issuance, Denison will hold 2,600,000 common shares of Foremost and 607,600 warrants, representing approximately 17% of the issued and outstanding warrants, which will influence its future investment strategies.
- Investment Strategy Adjustment: Foremost intends to continuously evaluate its investment relationship with Denison and may decide to acquire or dispose of additional securities based on market conditions, leveraging its pre-emptive rights under the Investor Rights Agreement.
See More
Foremost Clean Energy Completes Key Exploration Surveys at CLK Uranium Property
- Exploration Survey Results: Foremost Clean Energy has completed the 2025 MobileMT electromagnetic and magnetic survey at its 25,753-acre CLK Uranium Property, covering 808 line-kilometers and revealing a complex geo-electrical environment that may provide critical insights for future drilling.
- Data Integration Progress: The company collaborated with Caur Technologies to complete an Ambient Noise Tomography (ANT) survey, deploying 221 sensors to gain deeper insights into structural features beneath the Athabasca unconformity, which is expected to further refine drilling targets.
- Historical Drill Highlights: Historical drill hole CLG-D1 intersected 8,600 ppm uranium (approximately 1.01% U3O8) at a depth of 862 meters, providing strong evidence of mineralization potential that supports future exploration initiatives.
- Multi-Phase Exploration Plan: The CLK Property is fully permitted for a multi-phase exploration program, including up to 30 diamond drill holes, demonstrating the company's flexibility and strategic commitment to advancing priority targets.
See More
Foremost Clean Energy Updates Uranium Exploration Progress
- Uranium Discovery Progress: Foremost's 2026 drilling program at the Hatchet Lake South Uranium Project has intersected unconformity-related uranium mineralization in five drillholes, with a high of 1.0% eU₃O₈, indicating significant potential and expansion opportunities for the site.
- Expanded Mineralization Area: Step-out drilling from discovery hole TF-25-16 has extended the mineralized footprint to over 150 meters of strike length, demonstrating the continuity and growing scale of uranium mineralization, which enhances the company's competitive position in the uranium market.
- Significant Drilling Results: To date, ten diamond drill holes totaling 2,113 meters have been completed, with five holes intersecting uranium mineralization exceeding the company's reporting threshold of 0.05% eU₃O₈, further validating the exploration value of the project.
- Clear Future Plans: The company intends to continue expanding the Tuning Fork Uranium Zone and test additional high-priority targets, aiming to define the geometry and controls of the mineralization through ongoing drilling to discover higher-grade uranium zones.
See More
Foremost Initiates Winter Drilling Program at Hatchet Lake
- Drilling Program Launch: Foremost Clean Energy Ltd. has commenced a ~5,000-meter winter drilling program at its Hatchet Lake uranium project, aimed at validating the continuity of uranium mineralization at the Tuning Fork area discovered in 2025, which is expected to drive further growth in the uranium market.
- Follow-Up on Historical Discovery: The drilling will focus on the Tuning Fork area, where previous drill hole TF-25-16 intersected 0.87% U₃O₈ over 0.45 meters, indicating significant uranium mineralization potential that could lay the groundwork for future discoveries.
- Expansion of Target Areas: In addition to Tuning Fork, the program is set to test multiple high-priority targets at both Hatchet Lake South and North, particularly the Beta Grid and Richardson SE areas, further enhancing the exploration value of the project.
- Strategic Importance: Through collaboration with Denison Mines, Foremost aims to achieve significant breakthroughs in uranium and lithium exploration, positioning the Hatchet Lake project as a key driver for future growth amid rising demand for clean energy.
See More
