Foremost Clean Energy Ltd. has received a three-year exploration permit from the Saskatchewan Ministry of Environment for its Turkey Lake uranium project, authorizing up to 75 drill holes and related fieldwork through December 31, 2028. This permit marks a significant step forward for the company's exploration activities in the uranium-rich Athabasca Basin region, where global interest in domestic uranium production is increasing as countries seek to secure supply chains for nuclear energy. The Athabasca Basin is recognized as one of the world's most productive uranium regions, hosting high-grade deposits that have made Canada a leading uranium producer.
The company announced that a ground-based gravity survey by MWH Geo Survey will begin in December to refine targets ahead of a planned 2026 drill program. This work follows historic uranium intercepts by industry leaders Cameco and Denison along the underexplored 10-kilometer conductive corridor where the Turkey Lake project is located. Foremost Clean Energy holds an option to earn up to a 70% interest in 10 prospective uranium properties spanning over 330,000 acres in the Athabasca Basin region of northern Saskatchewan, with exploration activities at Turkey Lake representing the next phase of discovery potential in this geologically favorable area.
The company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs. As the demand for carbon-free energy continues to accelerate, domestically mined uranium is poised for dynamic growth, playing an important role in the future of clean energy. Foremost also maintains a portfolio of lithium projects at varying stages of development across 55,000+ acres in Manitoba and Quebec, positioning the company across multiple critical minerals essential for the clean energy transition. The full press release can be viewed at https://ibn.fm/qoIVC.
This permit approval comes at a time when securing domestic uranium supply chains has become increasingly important for energy security and clean energy transitions worldwide. The exploration activities authorized by this permit could contribute to identifying new uranium resources in a region already known for its high-grade deposits, potentially supporting future nuclear energy development as countries seek to reduce carbon emissions. The latest news and updates relating to FMST are available in the company's newsroom at http://ibn.fm/FMST.
