1. FMST plans $9 million exploration in Athabasca Basin's uranium projects. 2. Expecting winter drilling of 5,000 m at Hatchet Lake in 2026. 3. Upcoming gravity survey results will refine drilling targets. 4. Jean Lake Gold Project drilling planned alongside uranium projects. 5. CEO emphasizes focus on scalable uranium value opportunities.
FAQ
Why Bullish?
The significant investment in exploration increases FMST's potential for uranium discoveries, aligning with rising uranium demand.
How important is it?
The scale of the investment signals strong future growth potential, impacting stock trajectory positively.
Why Long Term?
Success in drilling may enhance investor confidence and drive long-term value for FMST, akin to prior successful uranium projects.
Foremost Clean Energy Unveils $9 Million Exploration Program for 2026
VANCOUVER, British Columbia, Dec. 22, 2025 (GLOBE NEWSWIRE) — Foremost Clean Energy Ltd. (NASDAQ: FMST) announced today an ambitious plan to invest approximately $9 million in its 2026 Exploration Program, aimed at advancing its uranium projects in the Athabasca Basin. This initiative will focus on exploring its extensive portfolio comprising 10 highly prospective uranium projects covering around **130,000 hectares** (or **330,000 acres**) in collaboration with Denison Mines Corp. (TSX: DML, NYSE: DNN).
Program Overview
The 2026 Exploration Program will leverage extensive geophysical and geochemical datasets alongside previous drilling initiatives. Through integrating Denison’s historical data with Foremost's recent fieldwork, the company has pinpointed several high-priority exploration areas essential to this comprehensive program. Recent developments at the Hatchet Lake and Turkey Lake projects reveal a strong foundation for directed drilling initiatives planned for the upcoming winter and summer.
Key Highlights
- $9.0 million allocated to enhance Uranium projects in the Athabasca Basin.
- 5,000 meters of winter drilling at Hatchet Lake targeting new discoveries.
- 2,000–2,500 meters of summer drilling planned for Turkey Lake.
- 4,000 meters earmarked for Jean Lake Gold Project as part of 2026 initiatives.
Exploration Focus: Hatchet Lake
The Hatchet Lake property stands out with a recent drill program that unveiled a new uranium discovery at hole TF-25-16, which revealed 6.2 meters of 0.10% U₃O₈, including 0.87% U₃O₈ over 0.45 meters. These findings are set to inform an expanded follow-up program, essential for targeting prospective areas along the Richardson Trend, where historical drilling has been limited but promising.
Goals for Hatchet Lake
The 2026 program aims to conduct approximately 5,000 meters of drilling at both Hatchet Lake South and North. This effort will be guided by comprehensive analyses integrating geological data.
Turkey Lake Property Developments
At Turkey Lake, following the acquisition of a three-year exploration permit, Foremost is preparing to launch a diamond drill program in summer 2026. The planned drilling of 2,000–2,500 meters will focus on shallow structural corridors along the eastern margin of the Athabasca Basin where historical uranium intercepts have been promising, including 0.16% U₃O₈ over 0.6 meters in hole TUR-41.
Jean Lake Gold Project Enhancement
In addition to uranium exploration, Foremost is advancing the Jean Lake Gold Project in Manitoba. The 2026 drilling program will follow a successful completion of the 2025 diamond drill campaign, which involved 15 drill holes totaling 2,266 meters. Initial results indicated significant gold intersections, such as 12.7 g/t Au over 2.1 meters.
Quotes and Company Insights
Jason Barnard, President and CEO of Foremost Clean Energy, stated, “Our core focus remains uranium and the broader Athabasca portfolio, where we see the most scalable value and the clearest line of sight to meaningful discoveries. By building on extensive historical foundations and the technical work completed over the past year, we are entering 2026 with a focused exploration program that we believe can deliver meaningful results for shareholders.”