Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has announced plans for an approximately $9 million exploration program in 2026 primarily focused on advancing its Athabasca Basin uranium portfolio. The program will target 10 optioned projects covering about 130,000 hectares acquired from Denison Mines Corp., with the company citing strong datasets, prior discoveries, and a focused capital deployment strategy as it enters the new year. This systematic approach builds on the company's existing assets in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan, where Foremost holds an option to earn up to a 70% interest in 10 prospective uranium properties spanning over 330,000 acres.
The exploration initiative is expected to include winter and summer drilling at Hatchet Lake and Turkey Lake following recent exploration progress and geophysical work. As the demand for carbon-free energy continues to accelerate, domestically mined uranium is poised for dynamic growth, playing an important role in the future of clean energy. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs.
In addition to the uranium-focused activities, the 2026 program will include continued advancement of the Jean Lake Gold Project in Manitoba through additional drilling and evaluation of pending assay results. This demonstrates the company's diversified approach to resource exploration while maintaining its primary focus on uranium development. The announcement comes as Foremost positions itself as a rapidly growing North American uranium and lithium exploration company. The company also maintains a portfolio of lithium projects at varying stages of development across 55,000+ acres in Manitoba and Quebec, though the 2026 program emphasizes uranium exploration in the Athabasca Basin region known for its high-grade uranium deposits.
For additional information about the company's developments, investors can access updates through the company's newsroom at https://ibn.fm/FMST. The latest announcement details the company's strategic planning as it prepares for intensive exploration activities in one of the world's most significant uranium-producing regions. This investment represents a substantial commitment to domestic uranium resource development at a time when nuclear energy is gaining renewed attention as a reliable, carbon-free power source. The program's focus on previously explored properties with existing data could potentially accelerate discovery timelines and resource definition.
