(NASDAQ: FMST) Rides 9 Key Potential Catalysts To Our #1 Watchlist Spot (Tight Float)

Uranium prices are spiking, with the commodity trending higher amid a persistent global supply deficit.

Any content you receive is for information purposes only. Always conduct your own research. *Disseminated on behalf of Foremost Clean Energy (NASDAQ: FMST) Rides 9 Key Potential Catalysts To Our #1 Watchlist Spot (Tight Float) *Click Here To Get Our Alerts Faster Via SMS* February 17th Dear Reader, Uranium prices are spiking, with the commodity trending higher amid a persistent global supply deficit. At the same time, Denison Mines — a strategic partner and major shareholder of (NASDAQ: FMST) — has been pushing toward new highs, reflecting renewed strength across the uranium sector. With drilling about to begin at Hatchet Lake — Foremost’s flagship discovery property in the Athabasca Basin — FMST enters this strengthening cycle with a fresh operational catalyst. Behind it all, the global economy has quietly entered a new phase — and nuclear energy sits at the center of it. For years, Artificial Intelligence has owned the spotlight. Yet as AI’s growth accelerates, it’s colliding with a stubborn constraint: the need for nonstop, large-scale electricity. That demand has revived nuclear power’s relevance. It remains the only energy source capable of delivering reliable, carbon-free output around the clock. Markets have taken notice. Nuclear generation is setting new records just as the biggest tech players race to secure long-term energy supply. The surge in data centers has made power availability the new bottleneck to AI expansion. In 2026 alone, hyperscalers—including Google, Microsoft, Amazon, and Meta—are expected to in-vest about $650Bn in AI infrastructure. At SWN, we’re following how this spending wave is reshaping the energy and commodities landscape in real time. ----- AI’s relentless energy demand is exposing the limits of renewables. Wind and solar vary too widely to deliver the constant, around-the-clock power needed to run and train vast machine-learning systems. That’s why analysts expect the next chapter of the AI expansion to be defined by a shift toward nuclear energy—the steady, overlooked backbone capable of sustaining data center growth. Today, data centers already draw about 1.5% of global electricity, and that figure is expected to climb roughly 30% each year. The response from Silicon Valley has been swift and massive. Tech giants are now turning directly to nuclear power to keep pace with AI’s growing appetite: Meta has locked in deals totaling 6.6 GW of nuclear power—enough to power nearly 5Mn homes by 2035—through partnerships with Vistra, TerraPower, and Oklo. Microsoft committed $3Bn to secure all the output from a restarted reactor at Three Mile Island, ensuring steady, zero-carbon energy for its data centers. Google signed the first-ever corporate agreement to purchase nuclear energy from Small Modular Reactors (SMRs) developed by Kairos Power. Amazon is investigating SMRs as part of its 2040 net-zero plan to stay ahead of surging power needs. America’s Nuclear Supply Problem The AI boom is now colliding with U.S. energy security. According to the EIA, America imported more than 50Mn pounds of uranium in 2024 but produced only about 677,000—barely 1% of its total requirement. Today, over 95% of fuel for U.S. reactors comes from abroad, including Russia and Kazakhstan. Energy Secretary Chris Wright has warned that domestic capacity must expand immediately to reduce dependence on foreign sources. The message has reached the commodities world: major trading houses such as Mercuria, Citi, and Natixis are building physical uranium desks to prepare for a tightening market. As the energy transition accelerates, Foremost Clean Energy (NASDAQ: FMST) sits at the heart of the Athabasca Basin—one of the richest uranium-producing regions on the planet, responsible for roughly 15% of global supply. Company Overview: A Strategic Clean Energy Leader Foremost Clean Energy (NASDAQ: FMST) is a rapidly expanding North American clean energy company focused on high-grade uranium and lithium discovery. The company’s extensive uranium asset portfolio includes 10 properties on 45 claims, spanning over 332,000 acres in the world-renowned Athabasca Basin. This region is historically known to host some of the world’s richest uranium deposits, with average grades ranging 10X to 100X higher than the global average while producing approximately 15% of the world’s primary uranium supply. How Foremost’s Uranium Portfolio Is Organized Eastern Athabasca Cluster: This is Foremost’s “close-to-the-action” area — projects in a part of Saskatchewan where uranium discoveries have been made before and where access is relatively straightforward. The main focus is Hatchet Lake, which includes Richardson and Tuning Fork. Richardson sits along a broader corridor that has drawn serious attention in the region. And at Tuning Fork, early drilling has already delivered an encouraging uranium hit — a sign the ground can produce meaningful results. On February 9, 2026, (FMST) announced a major operational milestone: a 5,000-metre winter diamond drill program at Hatchet Lake. This program is designed to follow up on the significant discovery made in hole TF-25-16, which intersected 0.87% U₃O₈ over 0.45 within a broader 6.2 m mineralized interval. Key Highlights of the Program: Step-out Drilling: Focusing on the Tuning Fork discovery to test for continuity along-strike and down-dip. Untested Conductors: Testing the Tuning Fork West area, where reprocessed data identified a 1.2 km electromagnetic conductor. Northern Expansion: Testing the Richardson SE area, which contains over 5 km of untested conductor strike length near the basin margin. Structural Focus: Testing the Beta Grid, where historical data shows a 20.3-metre offset in the unconformity depth, suggesting a potential thrust fault — a classic setting for high-grade deposits. (FMST) also controls additional nearby projects that add depth, including Murphy Lake South and Turkey Lake, which offer more targets to test. Blue-Sky Properties: These are the “wide-open” projects — larger areas that haven’t been heavily explored with modern methods. The upside here is simple: when ground is still lightly tested, one strong discovery can change the story quickly. One example is CLK, located near a major regional fault line. Historic work reported unusually strong uranium readings — the kind of early signal that can justify a closer look. Manitoba Lithium + Gold Portfolio: Beyond uranium, (FMST) also controls a large land position in Manitoba’s Snow Lake district — an established mining region with solid access to roads and power. The company refers to this area as “Lithium Lane.” Key projects include: Zoro: A lithium project with an established mineral estimate and prior testing that suggests it can produce a high-quality concentrate. Jean Lake: A project with both lithium and gold potential, where 2025 drilling produced a standout gold interval. Grass River: A lithium-focused area where past drilling confirmed multiple zones containing spodumene, a common lithium-bearing mineral. Market Potential and Competitive Positioning As demand for carbon-free power continues to build, North American sources of uranium and lithium are drawing increased attention. Foremost Clean Energy’s partnership with Denison Mines strengthens its positioning by pairing early-stage discovery work with an experienced operator that is advancing plans to begin construction on Canada’s first In-Situ Recovery (ISR) uranium mine, currently projected for 2028. Tight Float and Aligned Incentives (FMST)’s ownership base is significantly aligned. Management and directors hold 4.65% of shares outstanding, and Denison Mines holds 17.06%—for a combined 21.71% stake—linking leadership and its strategic partner to the same long-term outcome. (FMST) has less than 12Mn shares listed as available to the public. When companies have small floats like this, the potential exists for big moves if demand begins to shift. In fact, last year, (FMST) made an over 900% move (approx.) in fewer than 5 months, from $.55 on March 11, 2025 to $5.74 on June 5, 2025. The Denison Multiplier and the High-Grade "Halo Effect" A potentially massive technical and sentiment driver for Foremost Clean Energy (NASDAQ: FMST) is its strategic partnership with Denison Mines Corp. (DNN), its largest shareholder with a 17.06% stake. Far more than just a passive backer, Denison functions as a "strategic anchor," lending its deep technical bench strength and a proven track record of discovery—including the world-class Wheeler River project—to the Foremost team. This collaboration provides (FMST) with a "validated roadmap" by integrating decades of Denison’s historic drilling and geophysical data to target high-potential mineralized trends with precision. Denison further strengthens this bond with direct guidance and oversight, holding two seats on the (FMST) board, including one held by Denison’s President and CEO, David Cates. This relationship creates a unique strategic advantage: if (FMST) establishes a deposit, it can potentially leverage Denison’s technical expertise and future milling infrastructure to bypass traditional delays. This "fast-track" potential is particularly relevant as Denison is currently construction-ready for its flagship Phoenix project—Canada’s first In-Situ Recovery (ISR) uranium mine—which remains on track for first production by mid-2028. Finally, a potential “halo effect” could build around (FMST), as Denison has recently pushed up toward a new 52-week high—tapping $4.43 a few weeks ago. This upward momentum follows a string of high-grade uranium discoveries in the Athabasca Basin, a premier global jurisdiction where success by a major player like Denison could generate excitement and perceived value across its joint-venture partners. (FMST) could benefit from some of that spillover sentiment, especially given its close alignment with Denison’s platform and the way upcoming 2026 milestones may help sharpen and prioritize its own exploration path. Operational Milestones and Growth Drivers (FMST) kicked off 2026 with fresh momentum. On January 14, 2026, the company reported encouraging lithium results from its Jean Lake program, including a headline interval of 1.6% Li₂O over 5.0 m. Next, the company is stepping on the gas. (FMST) has outlined a $9.0Mn exploration plan for 2026 built around one goal: new discoveries. The program calls for roughly 11,500 m of drilling across its highest-priority targets in both the Athabasca Basin and Manitoba, setting up a steady flow of updates as results come in. ----- 9 Potential Catalysts Put (Nasdaq: FMST) On Tuesday Watchlist 1. AI Power Demand: As data centers strain global grids, (FMST) is positioned in uranium and lithium as nuclear regains relevance in powering AI infrastructure. 2. Historic Move On the Chart: A prior move from $0.55 (Mar 11, 2025) to $5.74 (Jun 5, 2025)—over 900% (approx.) in under five months—shows how quickly (FMST) has moved in the past. 3. Tight Float: With under 12M shares listed as available to the public and ~21.71% held by management/directors plus Denison, (FMST)’s small float could have the potential for big moves if demand begins to shift. 4. Supply Gap: U.S. reactor buyers acquired 50Mn+ lbs of uranium in 2024 versus just 677K lbs produced domestically, less than 1%, and (FMST) holds a large footprint in the Athabasca Basin where high-grade deposits have historically been found. 5. Basin Footprint: With 10 uranium properties across 45 claims totaling ~332,000 acres, (FMST) offers broad exposure to multiple targets inside a globally recognized uranium district. 6. Dual Portfolio: Beyond uranium, (FMST) also controls 55,000+ acres in Manitoba’s Snow Lake district (“Lithium Lane”), including Zoro, Jean Lake, and Grass River. 7. Commodity Breakout: Uranium futures recently made a 20-month high as intensifying long-term demand from AI infrastructure and physical funds triggered a wave of fresh institutional buying. 8. Strategic Backing: Denison Mines is a major holder with board representation, and (FMST) benefits from technical and operational support tied to that partnership. 9. Major Drill Program Update: Following a 0.87% U₃O₈ intercept at Hatchet Lake, (FMST) has launched a 5,000-metre winter drill campaign to expand and test the discovery zone. ----- We're now kicking off coverage on Foremost Clean Energy Ltd. (Nasdaq: FMST). Be on the lookout for updates coming your way shortly. Talk soon. Sincerely, FierceAnalyst | Jaks Swift Editorial Writer Sources: FMST Website FMST Company Presentation (Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.) *FierceInvestor (FierceInvestor . com) is owned by SWN Media LLC, a limited liability company. Data is provided from third-party sources and FierceInvestor ("FI") is not responsible for its accuracy. Make sure to always do your own research and due diligence on any day and swing profile I bring to your attention. We do not provide personalized fin-ancial advice, are not finan-cial advisors, and our opinions are not suitable for all in-vest-ors. Foremost Clean Energy Ltd. (FMST:US) (FAT:CA) previously changed their company name from Foremost Lithium Resource & Technology Ltd. (FMST:US) (FAT:CA) Pursuant to an agreement between SWN Media LLC and TD Media LLC, SWN Media LLC has been hired for a period beginning on 02/16/2026 and ending on 02/17/2026 to publicly disseminate information about (FMST:US) (FAT:CA) via digital communications. Under this agreement, TD Media LLC has paid SWN Media LLC seventeen thousand five hundred USD ("Funds"). To date, including under the previously described agreement, SWN Media LLC has been paid one hundred sixty thousand USD ("Funds"). These Funds were part of the twenty five thousand USD funds that TD Media LLC received from a third party named LFG Equities Corp. who did receive the Funds directly or indirectly from the Issuer and does not own st-ock in the Issuer but the reader should assume that the clients of the third party own shares in the Issuer, which they will liquidate at or near the time you receive this communication and has the potential to hurt share prices. Neither SWN Media LLC, TD Media LLC and their member own shares of (FMST:US) (FAT:CA). Please see important disclosure information here: https://fierceinvestor.com/disclosure/fmst-xrsh2/#details

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