Foremost Clean Energy Enters Joint Venture Agreement with Denison Mines

Foremost Clean Energy Ltd. has entered into a joint venture agreement with Denison Mines Corp. to develop its GR and Blackwing uranium properties in the Athabasca Basin. Foremost will sell a 31% interest in these properties for a total consideration of $650,000 and will issue 1,031,191 share purchase warrants with a five-year term at an exercise price of $1.80 per share, which is over 175% above its closing share price on October 22, 2026. The warrants will have an ownership cap to limit Denison's stake in Foremost to 19.95%.