Foremost Clean Energy Unveils Major Follow-Up Drill Program at Hatchet Lake Uranium Project
VANCOUVER, British Columbia – Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has officially announced the commencement of a substantial 5,000-metre diamond drill program at its Hatchet Lake Uranium Project. This ambitious initiative is scheduled to begin in mid-February 2026, strategically located in the eastern Athabasca Basin region of northern Saskatchewan.
Building on a Promising Uranium Discovery
The upcoming drill program is designed as a direct follow-up to the company's highly successful inaugural 2025 winter drilling campaign. That initial effort yielded a significant new uranium discovery, with mineralization intersected in a previously unexplored 600-meter gap between historic drill holes within the Tuning Fork target area.
The discovery hole, designated TF-25-16, intersected impressive grades of 0.87% U₃O₈ over 0.45 metres. This high-grade interval was contained within a broader 6.2-metre section averaging 0.10% U₃O₈. Subsequent follow-up drilling in 2025 extended strong hydrothermal alteration at least 50 metres along strike to the northeast. These specific alteration features are characteristic of unconformity-related uranium systems, potentially indicating proximity to a larger, more extensive mineralized system.
Strategic Focus and Target Areas
The Hatchet Lake Project encompasses two primary claim blocks: Hatchet Lake South and Hatchet Lake North. Each block contains multiple drill-ready targets that exhibit geological, structural, and geophysical responses consistent with unconformity-related uranium mineralization.
The 2026 drill program will concentrate on several key areas:
- Tuning Fork Target (Hatchet Lake South): The primary focus will be expanding the new uranium discovery highlighted by drill hole TF-25-16. Step-out and follow-up drilling aims to test the continuity of mineralization and refine the geological controls.
- Beta Grid Target (Hatchet Lake South): This area presents additional high-priority zones for testing.
- Richardson SE Area (Hatchet Lake North): Another focal point for the upcoming drilling activities.
Leadership Commentary on Market Timing and Strategy
Jason Barnard, President and CEO of Foremost Clean Energy, emphasized the strategic importance of this program. "This upcoming 5,000-metre drill program represents a significant next step at Hatchet Lake," Barnard stated. "It is designed to systematically follow up on the TF-25-16 discovery. Our 2025 results confirmed a fertile uranium system at the Tuning Fork target, and subsequent geophysical work has materially expanded our target inventory."
Barnard highlighted the advantageous timing, noting the recent surge in uranium prices to approximately US$100 per pound. The company is leveraging historical drilling and geophysical data from Denison Mines (NYSE American: DNN, TSX: DML), which helped establish the technical framework for the project. Foremost has enhanced this legacy data with modern reprocessing and reinterpretation techniques, including conductor modelling to better define target geometry, depth, and orientation.
"With multiple drill-ready targets now defined, we believe the timing is ideal to execute a focused winter program," Barnard added. "This program is designed to expand on the discovery and test additional high-priority targets in one of the world's premier uranium districts."
The integrated approach of combining historical data with modern analysis is expected to strengthen drill targeting and execution, positioning Foremost Clean Energy for potential further discoveries in the prolific Athabasca Basin.
