Foremost Clean Energy Ltd. (NASDAQ: FMST) has received a $50,000 grant from the Government of Saskatchewan's Targeted Mineral Exploration Incentive (TMEI) program to support uranium exploration activities in the Athabasca Basin region.

The funding is based on eligible exploration expenditures the company incurred in the province. Foremost plans to apply the grant toward geological, geophysical, and drill-target development activities across its Saskatchewan uranium project portfolio.

Jason Barnard, President and CEO, said: "We are grateful to the Government of Saskatchewan for its continued support of mineral exploration through the TMEI program. This funding recognizes the quality of exploration work completed by our technical team and will help support the continued advancement of our uranium projects in one of the world's premier mining jurisdictions."

Separately, Foremost announced the grant of 201,969 stock options and 266,035 restricted share units (RSUs) to certain directors, officers, employees, and consultants under the company's Long-Term Incentive Plan. The grants were approved by the Board of Directors on June 11, 2026.

The stock options are exercisable at $2.30 and carry a five-year term. Both the options and RSUs vest in three equal annual installments on April 1, 2027, April 1, 2028, and April 1, 2029.

Foremost holds an option from Denison to earn up to a 70% interest in 10 uranium properties spanning over 330,000 acres in the Athabasca Basin, as well as a portfolio of lithium projects covering more than 43,000 acres in Manitoba.