Foremost Clean Energy plans uranium survey over Saskatchewan properties

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) announced plans to conduct a 5,000 line-kilometer MobileMT airborne geophysical survey across its GR and Blackwing uranium properties in Saskatchewan's Athabasca Basin region. The survey is expected to begin mid-July, subject to operational scheduling.

Expert Geophysics Surveys Inc will conduct the survey, which is designed to detect deep conductive structures that may host uranium mineralization. The MobileMT system can image subsurface resistivity to depths of up to 2 kilometers.

The properties are located on the northwestern side of the Athabasca Basin along two structural corridors. The Grease River Shear Zone bisects the GR property, while the Black Bay Fault runs through the center of Blackwing.

"This is the first time these areas will be systematically evaluated using a deep-penetrating geophysical tool like MobileMT," said Jason Barnard, President and CEO of Foremost.

The survey will use 200-meter line spacing with tie lines spaced at 2,000 meters. The MobileMT system will employ high-sensitivity magnetic and VLF sensors with depth penetration of 1-2 kilometers using natural electromagnetic fields.

Separately, Foremost approved the issuance of 413,100 Restricted Stock Units to management, board members, employees, consultants, and staff as part of its annual equity grant, subject to Canadian Securities Exchange approval. The RSUs will vest in three equal installments on April 1, 2026, April 1, 2027, and April 1, 2028.

The company holds options to earn up to 70% interest in 10 uranium properties spanning over 330,000 acres in the Athabasca Basin region, with the exception of Hatchet Lake where it can earn up to 51%.

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