FAQ: Foremost Clean Energy's Share Issuance to Denison Mines Under Investor Rights Agreement

What is the main topic of this announcement?

Foremost Clean Energy Ltd. is issuing 485,000 common shares to Denison Mines Corp. at $2.20 per share, totaling $1,067,000, under their Amended & Restated Investor Rights Agreement.

Why is this share issuance happening?

The issuance relates to Denison’s equity participation right on prior warrant exercises and property payments as specified in the Investor Rights Agreement between the companies.

How does this affect Denison Mines’ ownership in Foremost Clean Energy?

This issuance increases Denison’s ownership to approximately 19.17% of Foremost’s outstanding common shares.

When was the Investor Rights Agreement that governs this transaction dated?

The Amended & Restated Investor Rights Agreement was dated July 23, 2025.

What restrictions apply to the shares being issued?

The shares will be subject to a four-month-plus-one-day hold period as approved by the Canadian Securities Exchange.

Who approved this share issuance?

The Canadian Securities Exchange approved the issuance of these shares to Denison Mines.

What is the relationship between Foremost Clean Energy and Denison Mines?

Foremost holds an option from Denison Mines to earn up to a 70% interest in 10 prospective uranium properties in the Athabasca Basin region, and they collaborate on exploration programs.

Where can I find more information about this transaction?

The full press release is available at https://ibn.fm/2zqjP, and additional updates about FMST are available in the company’s newsroom at http://ibn.fm/FMST.

What is Foremost Clean Energy’s business focus?

Foremost Clean Energy is a North American uranium and lithium exploration company focused on making significant discoveries in collaboration with Denison through systematic exploration programs in uranium-rich regions.