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Market Crux Puts Foremost Clean Energy (NASDAQ: FMST) Back At 

The Top Of Its Watchlist

Full Coverage On (FMST) Starts This Morning

—Wednesday, December 10, 2025

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Consider Starting Your Own Research On (FMST) While It’s Still Early

[Company Website] | [Corporate Presentation]

December 10, 2025

Morning Spotlight | (FMST) Is Getting Our Full Coverage Today—Here’s Why

Dear Reader,

What’s unfolding beneath the surface of the AI buildout still isn’t front-page news — not yet.

But the shift we’re seeing has the potential to redefine who controls the next decade of energy.

While most headlines chase chips and cloud servers, a different race is playing out in the background — one to secure the power that keeps AI alive.

Data centers are consuming electricity at record speed, and only a select few names are positioning to meet that demand before it hits a breaking point.

One of them has landed back on our radar — and the timing couldn’t be more critical.

That company is Foremost Clean Energy (NASDAQ: FMST) — and it’s now set to be back on the top of our watchlist heading into Wednesday, December 10, 2025.

AI’s Power Surge Sparks a New Energy Race

The U.S. AI boom, backed by more than $471B in private funding, is running into a hard truth: you can’t power a 24/7digital revolution with part-time energy.

According to the IEA, worldwide power use from AI, cryp-to, and data infrastructure could roughly double by 2026 — approaching the total electricity consumption of Japan.U.S. Energy Information Administration

Big Tech is already pivoting:

• Amazon has secured 300 MW of nuclear power beside a Pennsylvania plant and requested an additional 180 MW.
• Meta has locked in 1.1 GW of nuclear power under a 20-year agreement.
• Google and Microsoft are turning to nuclear projects and reactor restarts to feed their AI data centers.

AI doesn’t run on code alone — it runs on energy that never sleeps.

And right now, that increasingly means uranium.

U.S. Uranium Dependence Has Hit a Critical Turning Point

According to the EIA, the U.S. bought more than 50M pounds of uranium in 2024 — but produced only 677,000pounds at home.

That’s little more than 1% of what the country’s reactors actually need.

With 95% of supply imported and 25% of enrichment still sourced from Russia until 2028, the window for energy security keeps shrinking.

Energy Secretary Chris Wright made it clear: the U.S. is now taking steps to eliminate reliance on Russian enriched uranium and scale domestic output.

In this new energy arms race, only a handful of companies are lining up to answer the call — those already drilling, already funded, and already aligned with the sector’s most capable operators.

Foremost Clean Energy (NASDAQ: FMST) is one of them — stepping out from the shadows of early-stage exploration and deeper into the spotlight of execution.

With multiple drill programs completed or underway, new permits in hand, and a tier-one partner at its side, the story now looks much more advanced than it did just a few weeks ago.

Foremost Clean Energy (NASDAQ: FMST): Positioning To Power the 

Next Wave of AI Infrastructure Growth

Ten Projects — One Purpose: Foremost Clean Energy (NASDAQ: FMST)controls ten uranium properties spanning 45 claims and roughly 332,000 acres across Canada’s Athabasca Basin — the world’s premier uranium district, where grades can reach 10 to 100 times the global average.

The company’s land package is grouped into the Eastern Athabasca Cluster and Blue-Sky Region, each positioned along high-conductivity corridors known to host recent Basin discoveries.

This portfolio places (FMST) among the more active junior uranium explorers in North America, with drilling, survey, and permitting work continuing across multiple targets.

A Direct Line to One of Uranium’s Most Respected Operators

(FMST)’s largest shareholder, Denison Mines Corp., a $2.9B sector leader, owns just over 17% of Foremost and holds two board seats — including Denison’s President & CEO, David Cates.

Denison brings:

• A strong cash position and physical U₃O₈ inventory.
• Proprietary in-situ recovery (ISR) expertise underpinning its Wheeler River project, targeted as one of Canada’s next uranium mines later this decade.
• Access to processing capacity at McClean Lake, one of the key hubs for Athabasca Basin ore.

This direct line to a tier-one operator gives Foremost more than strategic capital — it plugs the company into a development ecosystem that spans exploration, ISR know-how, processing, and one of the sector’s more advanced ESG and Indigenous-partnership frameworks.

An Approximate 900% Move Earlier This Year — A Reminder of 

What Limited Supply Can Do

As of the latest disclosures, (FMST) has just over 11M shares listed in its public float, with a modest market capitalization and a solid cash position supporting its programs.

Management and the board hold a meaningful stake, and Denison’s ~17% ownership brings total insider and strategic alignment close to a quarter of the float.

Earlier this year, (FMST) logged an approximate 900% move in under 90 days — from $0.55 (Mar 11) to an intraday high of $5.74 (Jun 5) — a reminder of how quickly sentiment can shift when supply is tight and interest starts to build.

Drilling Where the World Is Watching

Hatchet Lake: Stronger Discovery Signals, Gravity Survey Next

Foremost Clean Energy (NASDAQ: FMST) has already reported final assays from its winter 2025 drill program at Hatchet Lake in Saskatchewan’s Athabasca Basin — with key hole TF-25-16 returning higher-than-initial uranium grades over a mineralized interval now interpreted as part of a broader system.

Building on that, the company has now:

• Reported continued drilling success at Hatchet Lake, with step-outs extending the mineralized corridor and reinforcing the structural model guiding further work.
• Announced an upcoming ground-based gravity survey at Hatchet Lake to sharpen the structural understanding and refine high-priority targets for the next phase of drilling.
  

This combination of stronger assays, follow-up drilling, and fresh geophysical work moves Hatchet Lake further along the curve — from early promise toward a more defined discovery narrative.

Murphy Lake South: 2,695 m Drill Program Completed Along

a World-Class Trend

In November, Foremost successfully completed a 2,695 m drill program at its Murphy Lake South property, positioned along the La Roque Lake trend beside IsoEnergy’s Hurricane deposit — one of the highest-grade uranium zones ever drilled in the Basin.

This campaign targeted new EM and radon anomalies outlined by summer survey work, with drilling focused on structures and conductors viewed as potential conduits for high-grade mineralization.

Core logging and structural interpretation are underway, with assay results expected to help determine whether Murphy Lake South graduates from potential to proof as a second anchor asset in (FMST)’s Athabasca pipeline.

Turkey Lake: Three-Year Permit and Gravity Survey Set the Stage

Further south in the Basin, Foremost recently received a three-year exploration permit for its Turkey Lake uranium project and has initiated a detailed ground-based gravity survey.

The permit covers geophysics, prospecting, and drilling, while the gravity survey is designed to map density contrasts that may highlight alteration zones, structures, or potential uranium-bearing systems beneath cover.

This groundwork lays the foundation for Turkey Lake to move from early-stage target to drill-ready prospect as part of the company’s Eastern Athabasca Cluster.

Jean Lake: Drill Program Completed, Historic Core Resampling Underway

On the critical-minerals side of the portfolio, Foremost just announced the successful completion of its fall 2025 drill program at the Jean Lake gold-lithium project in Manitoba’s Snow Lake district, along with the start of a historic core resampling campaign. The drill program returned high-grade gold intercepts including 10.7 g/t Au over 5.6 m (including 82 g/t Au over 0.7 m) and 12.7 g/t Au over 2.07 m (including 40 g/t Au over 0.6 m).

The Jean Lake program is targeting high-grade gold zones and lithium-bearing pegmatites, and resampling historic core is aimed at unlocking additional mineralized intervals that may have been overlooked or under-sampled in earlier campaigns.

These steps build on prior high-grade gold and lithium intercepts at Jean Lake and reinforce its role as a key asset within FMST’s 43,000-acre critical-minerals position in Snow Lake.

Beyond Uranium: A Critical-Mineral Edge

Beyond its uranium footprint, (FMST)controls 43,000 acres of lithium ground in Manitoba’s Snow Lake district, including the Zoro and Jean Lake projects.

At Zoro, bench-scale test work has demonstrated the ability to produce a near-6% battery-grade lithium hydroxide, reinforcing processing readiness for defense and battery markets.

These assets now sit inside a broader trend of federal and institutional support for North American critical-minerals supply — including recent U.S. defense procurement initiatives and large-scale energy-resiliency financing commitments from major banks.

By bridging uranium and lithium — and increasingly, gold at Jean Lake — Foremost Clean Energy is emerging as a dual-commodity (and multi-metal) player aligned with both the AI-driven grid and the electrified transport network supporting it.

7 Reasons Why (FMST) Is Back on Our Radar This Morning

—Wednesday, December 10, 2025

1. Small Float: With fewer than 12Mshares available, (FMST)’s small float could witness the potential for big moves and heightened volatility if demand begins to shift.

2. Momentum On The Chart: Earlier this year, (FMST) made an approximate 900% move in under 90 days, underscoring how fast sentiment can shift when supply is limited.

3. AI Demand Fuel: As AI infrastructure accelerates, (FMST) is positioned along the fuel cycle powering data centers that require nonstop baseload energy.

4. Tier-One Backing: Through its ~17% ownership and board presence, Denison Mines provides (FMST) direct access to one of the sector’s most capable uranium operators.

5. Active Drilling: With multiple drill programs completed or underway across Hatchet Lake, Murphy Lake South, and Jean Lake, (FMST) continues advancing high-priority targets.

6. Expanding Footprint: Across ten Athabasca Basin uranium properties totaling more than 300,000 acres, (FMST) maintains one of the more active exploration pipelines in the region.

7. Dual-Metal Exposure: Alongside its uranium portfolio, (FMST) controls 43,000 acres of lithium ground in Snow Lake—aligning with both the AI-driven grid and the electrified transport buildout.

Consider Starting Your Own Research On (FMST) While It’s Still Early

[Company Website] | [Corporate Presentation]

With its small float, advancing drill programs, strategic Denison alignment, and growing critical-minerals footprint, (FMST) now sits at the intersection of AI’s rising power demand and the fuel supply chains being built to sustain it.

We have all eyes on (FMST) this morning—Wednesday, December 10, 2025.

Also, watch for my next update, it could be here within the next 60-90 minutes.

Sincerely,

Gary Silver
Managing Editor,
Market Crux

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Foremost Clean Energy Ltd. (FMST:US) (FAT:CA) previously changed their company name from Foremost Lithium Resource & Technology Ltd. (FMST:US) (FAT:CA)

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