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Hello!

FMST, our newest alert, opened today at 2.81 and so far, rallied to a high of 2.95, upside of +4%.

FMST is continuing the momentum of the past week.

Following our alert in September, FMST rallied from 3.19 to a high of 4.57, gains of +43%.

Since then, the company has announced multiple developments, including yesterday’s breaking news.

As a reminder, here are some of the announcements from the past month:

  • Foremost Clean Energy Appoints Seasoned Mining Executive Peter Espig to Board of Directors

  • Foremost Clean Energy Reports Significant Increase in Uranium Grade from Assays Received for Recent Discovery at its Hatchet Lake Project

  • Foremost Clean Energy Reports High-Grade Gold Results from First Two Holes of 2025 Jean Lake Drill Program Highlighted by 10.7 g/t Au over 5.6 m Including 82 g/t Au over 0.7 m

  • Foremost Clean Energy Successfully Completes 2,695 m Drill Program at its Murphy Lake South Uranium Property

  • Foremost Clean Energy Reports Continued Drilling Success at its Jean Lake Project with Multiple Shallow Gold Intercepts Including High-Grade interval of 34.2 g/t over 0.8m Within 9.0 g/t over 3.5m

In addition, yesterday, the company announced another big accomplishment:

“Foremost Clean Energy Receives 3-Year Exploration Permit and Announces Gravity Survey at Turkey Lake Uranium Project, Athabasca Basin, Saskatchewan”

  • “Ground-Based Gravity Survey Launching in December to Follow Up on Historic Uranium Intercepts First Defined by Cameco and Denison Mines”

As the company further notes in the press release:

“The permit is valid until December 31, 2028, and authorizes up to 75 drill holes, line cutting, trail use, and related exploration activities.”

Furthermore:

“The Company is also pleased to announce a ground-based gravity survey at Turkey Lake is scheduled to commence in December. The gravity survey will refine targeting ahead of an anticipated 2026 drill program, which will follow up on uranium intercepts that were initially identified through historic work by Denison Mines Corp. (“Denison”, NYSE American: DNN, TSX: DML), and Cameco. The survey will be conducted by MWH Geo Survey (“MWH”), a leading geophysical contractor with more than 40 years of experience throughout the Basin.”

Foremost’s President and CEO Jason Barnard, President and CEO commented:

“We are very pleased to receive a three-year exploration permit for Turkey Lake, which allows Foremost to advance this underexplored project along the eastern Athabasca Basin margin.”

“Historic work by industry leaders like Cameco and Denison has already confirmed unconformity-associated uranium in multiple holes, including 0.16% UO over 0.6 metres in TUR-4 and 0.12% UO over 0.5 metres in TL-10-13.”

“This foundation of past success, combined with shallow unconformity depths and a largely untested 10-kilometre conductor system, presents a compelling opportunity.”

“Furthermore, the current industry landscape is creating a perfect environment for uranium exploration, where significant new discoveries are not just valuable, but imperative.”

“The gravity survey will refine our understanding of the structural framework as we prepare for a targeted drill program in 2026, positioning us to capitalize on powerful market tailwinds.”

Broader market volatility could be creating another opportunity for a renewed move higher.

Yesterday, FMST consolidated back to the 20 day moving average and has stayed above it.

That historically is a healthy indicator.

FMST has a 50 day moving average of 3.08 - that is just 9% above today’s open.

But a rally above this level could set in motion a much bigger breakout opportunity.

October’s high is +62% from today’s open.

Now, add in all of the accomplishments the company announced over the past few weeks…

RSI is at 49, and that signals that we could see a rally higher.

What to watch next:

Holding above the 20-day moving average would be the first positive sign.

A pattern of higher lows and higher highs would signal a strengthening trend.

A close near the highs could confirm renewed upward momentum.

A rally and close above the 50 day moving average could provide increased upside opportunity.

We are continuing to monitor FMST for a sustainable breakout higher.

Happy Trading!

SmallCapStocks Team

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