Foremost Clean Energy Announces Revised Brokered Private Placement For Gross Proceeds Of Up From C$7 Million To C$9.5 Million

Foremost Clean Energy Ltd. (NASDAQ:FMST) (CSE:FAT) ("Foremost" or the "Company"), an emerging North American uranium and lithium exploration company, is pleased to announce that further to its press release dated October 24, 2024 and as a result of strong investor demand, the Company has increased the maximum gross proceeds of its previously announced best efforts private placement (the "Marketed Offering") from C$7,000,001 to C$9,500,000. The revised Marketed Offering is comprised of the following:

• up to 1,500,000 units of the Company (the "Units") at a price of C$3.00 per Unit (the "Unit Price") for gross proceeds of up to C$4,500,000 from the sale of Units; and
• gross proceeds of up to C$5,000,000 from the sale of any combination of (i) flow-through units of the Company (the "FT Units") at a price of C$3.50 per FT Unit, and (ii) FT Units to be sold to charitable purchasers (the "Charity FT Units", and together with the Units and FT Units, the "Offered Securities") at a price of C$4.55 per Charity FT Unit.

Red Cloud Securities Inc. is acting as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the "Agents") in connection with the Offering. The Agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the Offering, to sell up to an additional C$1,000,000 in any combination of Units, FT Units and Charity FT Units at their respective offering prices (the "Agents' Option", and together with the Marketed Offering, the "Offering").