Foremost Clean Energy Issues Letter to Shareholders

Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.VANCOUVER, British Columbia, Dec. 18, 2025 (GLOBE NEWSWIRE) — Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company“), is pleased to provide a corporate update and review of key activities and achievements from 2025.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Dear Shareholders,As we reflect on 2025, it is clear this has been a transformative year for Foremost Clean Energy. We navigated a challenging market with resilience and achieved significant milestones across our exploration projects, emerging financially robust, strategically sharpened, and operationally proven. We have successfully executed a bold agenda, converting market challenges into powerful momentum as we grow our presence in the dynamic clean energy metals sector.Foremost strengthened its foundation and emerged well-positioned: a fortified balance sheet, landmark exploration discoveries, and a market valuation that we feel reflects a profound vote of confidence in our path forward with a share price increasing more than 100% year over year. Our team worked tirelessly to advance our multi-focused portfolio in uranium, lithium and gold and I am proud to share the results of these efforts with you and the opportunities that lie ahead.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Uranium Market Update: Rising Demand and Policy ShiftsThe structural backdrop for uranium has fundamentally shifted. The U.S. declaration of nuclear energy as a national security priority, including the ban on Russian uranium imports, fast-tracking of reactors, and injecting billions to revive domestic production, are some of the most significant U.S. demand catalysts in half a century. These sweeping measures are accelerating timelines and are repositioning supply chains, making exploration to find new North American uranium discoveries not only necessary, but imperative.Foremost is one of the few Nasdaq-listed companies advancing uranium exploration projects in North America, and we are drilling today to find potential future discoveries to feed America’s nuclear comeback.Several recent, high-impact announcements and industry analyses point to what could be a significant and sustained increase in future uranium demand. These include:Foremost is set to drill in the perfect location —the world-renowned Athabasca Basin— at a moment that aligns with an emerging wave of potential intensified uranium demand.Foremost’s Exploration HighlightsWe advanced a number of strategic priorities this year, successfully completing diamond drilling programs on three core projects; Hatchet Lake, Murphy Lake South and Jean Lake, demonstrating a deliberate, dual-commodity exploration strategy across our high-potential assets.Foremost’s Jean Lake property provides investors with potential for exposure to record gold prices, which recently surpassed $4,200 an ounce. Investors and central banks are looking to gold as a safe-haven asset amid geopolitical and inflationary pressures. This gold opportunity provides a valuable counter-cyclical element to our clean energy metals portfolio.Across all projects, our exploration team demonstrated technical excellence and agility, completing over 7,300 meters of drilling in 2025. Each program either discovered or expanded zones of mineralization, reinforcing the value of our diversified project pipeline.Strategic and Corporate AchievementsBeyond the drill bit, 2025 saw Foremost significantly strengthen its financial position and balance sheet.Based on the financial results released in November 2025, our year-over-year fiscal health and market performance have exceeded expectations, strengthening the Company’s economic foundation for future growth and execution readiness. We’ve reduced our debt substantially by almost 40%, more than doubled our assets and substantially increased our shareholders’ equity. With our balance sheet strengthened and our strategic foundation solidified, we are now singularly focused on advancing our exploration portfolio with precision and discipline. Our mission is clear: to leverage our robust financial position and proven technical team led by our Vice President of Exploration, Cameron MacKay. We are exceptionally well-equipped for this next phase of growth to deliver discovery-driven results that drive value.The Road Ahead: Focused Execution for 2026Acknowledgment and Outlook2025 was a year of meaningful progress and foundation-building. We entered the year as a newly transformed company and exited as a financially stronger, technically advanced, and strategically focused organization. The accelerating buildout of data centers, the immense power requirements of AI, and the renewed focus on nuclear energy are all contributing to powerful signals pointing toward strong future uranium demand. Foremost is excited for our exploration year ahead as we continue our exploration efforts in one of the richest uranium districts in the world: the Athabasca Basin.None of this would have been possible without the dedication of our employees, the guidance of our Board, and, most importantly, your support as shareholders. Thank you for your continued trust. As we move into 2026, we do so with confidence, ready to execute on our plans and convert our promising portfolio into tangible discoveries. We remain committed to delivering on our goals and to keeping you informed every step of the way.On behalf of the Board of Directors and the entire Foremost team, thank you for your unwavering support.Sincerely,Jason BarnardPresident & Chief Executive OfficerForemost Clean Energy Ltd.Qualified PersonThe technical content of this news release has been reviewed and approved by Cameron MacKay, P. Geo., Vice President of Exploration for Foremost Clean Energy Ltd., and a Qualified Person under National Instrument 43-101.A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.AboutForemostForemost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. 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. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost’s uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company’s mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs.Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company’s website at www.foremostcleanenergy.com.Contact and InformationCompanyJason Barnard, President and CEO+1 (604) 330-8067 info@foremostcleanenergy.comFollow us or contact us on social media:X: @fmstcleanenergyLinkedIn: https://www.linkedin.com/company/foremostcleanenergy Facebook: https://www.facebook.com/ForemostCleanEnergyForward-Looking StatementsExcept 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.1https://discoveryalert.com.au/news/uranium-market-2025-global-expansion-supply-demand/#:~:text=U.S.%20Nuclear%20Policy%20Transformation,national%20security%20and%20energy%20independence2 https://www.enr.com/articles/61083-power-hungry-ai-fueled-data-center-boom-sets-energy-deliverys-new-course3 https://www.mining.com/uranium-demand-for-nuclear-power-set-to-surge-nearly-30-by-2030-world-nuclear-association/#:~:text=BMO’s%20take,the%20year%2C%E2%80%9D%20BMO%20concluded.4 https://www.morningstar.com/news/marketwatch/2025111881/microsoft-nvidia-and-anthropic-ink-45-billion-deal-that-furthers-a-big-critique-of-the-ai-trade5 https://www.reuters.com/business/energy/westinghouse-electric-cameco-corp-brookfield-asset-management-80-bln-nuclear-2025-10-28/6 https://www.mining.com/sprott-to-buy-200m-of-uranium-for-special-fund/7 https://www.listcorp.com/publisher/shaw-and-partners/sput-hits-the-uranium-accelerator-3203622.htmlPostmedia is committed to maintaining a lively but civil forum for discussion. 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