VANCOUVER, British Columbia — January 14, 2026 — Leads & Copy — Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has announced positive lithium assay results from its 2025 drill program at the 100%-owned Jean Lake Gold–Lithium Project near Snow Lake, Manitoba.
Drill hole JL25-005B intersected multiple spodumene-bearing intervals within the B1 Pegmatite. According to the company, these lithium results, combined with structurally controlled gold mineralization, position the Jean Lake Property as a multi-commodity exploration prospect.
Highlights from drill hole JL25-005B include:
1. 6% Li2O over 5.0 m from 52.0m, including 2.1m of 2.8% Li2O
2. 5% Li2O over 4.8m from 62.6m, including 0.8m of 2.3% Li2O
The lithium results are being released during a period of rising lithium carbonate prices, which have reportedly increased to over $20,000 USD per ton since the beginning of January, reaching their highest level in two years.
Foremost Clean Energy President and CEO Jason Barnard said the lithium results are an encouraging step forward for Foremost and further demonstrate the potential of the Jean Lake Project. He added that intersecting 1.64% Li₂O over 5 metres confirms they are working within a fertile spodumene-bearing system and reinforces confidence in the data-driven exploration strategy applied across the project.
Barnard also noted independent research, such as Morgan Stanley’s December 2025 report, indicates a constructive outlook for core energy transition metals. The report highlights strong uranium price momentum driven by a structural supply deficit, with long-term price accretion expected as the company heads into its upcoming 2026 drill season.
Barnard stated that the upcoming drill program at the Hatchet Lake Uranium Property aims to follow up on the new discovery from last season, noting that the need to discover and define new uranium resources is critical. According to Barnard, a structural supply deficit and the pressing need for procurement for utilities to secure long-term supply have created a market where sustained exploration is viewed as imperative for energy security.
The company has now completed its historic core re-sampling program (assays pending), which it expects will strengthen its geological model for both lithium and gold at Jean Lake. This follows the December 8, 2025, announcement that confirmed completion of the 2025 drill program and the start of the re-sampling initiative. Gold assay results from the initial four drill holes have defined a near-surface mineralized footprint that extends beyond the original discovery area. Notable results included hole JL25-001: 12.7 g/t Au over 2.1 metres (including 40.0 g/t Au over 0.6 metres) and hole JL25-002: 10.7 g/t Au over 5.6 metres (including 82.0 g/t Au over 0.7 metres) (see news release November 10, 2025). Assay results for the remaining 11 holes are still pending from the completed drill program.
Foremost plans to integrate the 2025 drill results and the historic re-sampling data into an updated geological and structural model to guide future exploration at Jean Lake. A total of six high-priority 2023 drillholes along the Valkyrie Trend were selected for re-sampling in 2025. These include hole FM23-08, which previously returned 102 g/t Au over 0.5 m, within 7.50 g/t Au over 7.66 m (see news release June 06, 2023). In addition, one drillhole from the Midas Trend, FM23-25, is being re-sampled. Historical highlights from FM23-25 include 6.86 g/t Au over 0.54 m, within 2.07 g/t Au over 3.49 m (see news release June 06, 2023).
Drill core samples were collected from pegmatite dykes intersected during the drilling program. All samples consisted of NQ-sized diamond drill core. Sampling intervals were selected based on geological logging, with continuous sampling through pegmatite intervals and adjacent wall rock. Sample lengths typically ranged from 0.5 m to 1.0 m, depending on lithological boundaries and internal zoning within the pegmatite.
All drill core was cut longitudinally using a diamond saw. One half was retained on site for reference and future verification, and the remaining half was submitted for geochemical analysis. Samples were securely packaged, labelled, and shipped under chain of custody to SGS Canada Inc.’s geochemistry laboratory in Burnaby, British Columbia, for sample preparation and primary analysis.
At SGS, samples were dried at 105°C, crushed to 75% passing 2 mm, and a 250 g split was pulverized to 85% passing 75 microns using standard industry procedures (method PRP89). Lithium analyses were performed using sodium peroxide fusion followed by ICP-AES determination (method GC_ICP92A50), which is suitable for lithium-bearing silicate matrices such as LCT-type pegmatites and provides a reporting limit of 0.001% Li. This method is designed to ensure complete dissolution of refractory lithium minerals and accurate quantification across a wide concentration range.
All analytical work was carried out at SGS laboratories operating under ISO/IEC 17025-accredited quality management systems. SGS laboratories employ method-specific internal quality control protocols that include the routine insertion of preparation blanks, certified reference materials, duplicates, and pulp replicates. These controls are monitored through SGS’s Laboratory Information Management System, which automatically flags results that fall outside predefined accuracy or precision thresholds and initiates reanalysis when required.
Foremost Clean Energy implemented an independent quality assurance program that included the regular insertion of certified lithium reference materials, blank samples, and field duplicates into the sample stream. These control samples were used to independently assess analytical accuracy, precision, and potential contamination during sample preparation and analysis. Results from QA/QC samples were reviewed upon receipt of analytical data and were found to be within acceptable limits for lithium exploration purposes.
All reported sample intervals represent downhole lengths. True widths of mineralized intervals have not yet been determined.
Cameron MacKay, P. Geo., Vice President of Exploration for Foremost Clean Energy Ltd., and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical content of this release.
A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.
Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a North American uranium and lithium exploration company positioned to support the demand for reliable, carbon-free energy.
The Company holds an option from Denison to earn up to 70% interest in 10 prospective uranium properties spanning over 330,000 acres in the Athabasca Basin region of northern Saskatchewan. Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec.
Jason Barnard, President and CEO
+1 (604) 330-8067
info@foremostcleanenergy.com
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Source: Foremost Clean Energy Ltd.
