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Hello!
FMST, our new NASDAQ alert, released breaking news this morning.
Here is the news from this morning:
“Foremost Clean Energy Advances Dual Drilling Campaigns on its Murphy Lake South Uranium Project and its Jean Lake Gold-Lithium Project”
“With Uranium Market Strengthening and Gold at Record Highs, Foremost Executes Concurrent Drill Programs at its Murphy Lake South and Jean Lake Properties”
“VANCOUVER, British Columbia, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ("Foremost" or the "Company") is pleased to report that drilling remains underway at its Murphy Lake South Uranium Property (“Murphy’) in the eastern Athabasca Basin, Saskatchewan, and the Company has now also commenced its 2,500 m diamond drill program at its100% fully owned Jean Lake Gold-Lithium Property (“Jean Lake”) in Snow Lake, Manitoba.”
“Murphy Lake Uranium Program”:
“The 8-hole 2,500 m diamond drill program at Murphy was announced earlier this month on September 02, 2025, located in the world-renowned Athabasca Basin region of northern Saskatchewan. Drilling is currently testing high-priority targets for unconformity-style uranium mineralization following up on historic uranium mineralization intersected by Denison Mines Corp. (“Denison” TSX: DML, NYSE American: DNN). Murphy is located in a highly prospective area in the Athabasca Basin and is adjacent to the Larocque Lake Conductive Corridor, host to IsoEnergy’s Hurricane Deposit, one of the world’s highest-grade published indicated uranium resources of 48.6Mlbs U3O8 at 34.5% U3O8 and inferred resource of 2.7Mlbs at 2.2% U3O8”.
Here are some of the company’s comments from this press release:
“Running two active drill programs in parallel on two different commodities, in two different regions, is an exceptional opportunity that few uranium explorers can execute well.”
“Foremost’s President and CEO, Jason Barnard comments: "Our shareholders are invested in Foremost for its uranium potential.”
“By simultaneously advancing a high-grade gold asset that we already own 100% of, we are effectively using the gold market's momentum to build a stronger, better-funded uranium company.”
“Every metre drilled at Jean Lake de-risks that asset and adds potential value that supports our primary goal in the Athabasca Basin.”
“This program underscores Foremost’s primary commitment: advancing its uranium portfolio at a time of historic strength in the sector.”
“We’re positioned to deliver catalysts from multiple fronts while maintaining our core commitment to uranium exploration.”
“Our shareholders get the upside of both critical mineral stories without dilution of our uranium focus."
“Jean Lake Gold-Lithium Program – Building on 4 Years of Work”
“The current 20 hole, 2,500-metre drill program at Jean Lake is designed to expand known high-grade zones, validate historical drilling, and define the broader mineralized system across the property. It is the culmination of systematic exploration work conducted since 2021, de-risking the property ahead of this second round of drilling and can be broken out in five phases”:
“Phase 1 (2021 – Initial Discovery & Prospecting): Field prospecting identified spodumene-bearing pegmatites (the “Beryl Pegmatites”), with rock chip sampling returning 5.17% Li₂O and 20.9 g/t Au, confirming Jean Lake’s potential for both lithium and gold.”
“Phase 2 (2021–2022 – Geophysical & Geochemical Targeting): A 483.4-line km UAV magnetic survey, combined with soil geochemistry and mapping, defined multiple high-priority anomalies.”
“Phase 3 (2022–2023 – Maiden Drill Program): A 3,002-metre program tested 14 targets, intersecting new mineralization, including high-grade gold & lithium intercepts including 7.50 g/t Au over 7.66m (including 102.0 g or 3.28 ounces/t Au over 0.48 metres) in drill hole FM23-8 and 1.26% Li₂O over 3.35m in drill hole FM23-04A from surface (see press release January 16, 2025 for full details)”
“Phase 4 (2023 – Target Refinement): Additional mapping and chip sampling confirmed mineralization, with assays up to 1.86% Li₂O. (see October 12, 2023 for full sample results)”
“Phase 5 (Current Drill program 2025-Follow-Up & Expansion): The newly commenced drill program will step out from known intercepts to test continuity and expansion of high-grade zones.”
Following our alert this morning, FMST opened today at 3.19, with a high so far of 3.28.
Here are a couple of the things to keep in mind as you are watching this opportunity.
The base on the chart over the past months could be the launchpad to test June highs.
That is +79% from today’s open.
Continue to watch for it to make higher lows and higher highs, that’s the first sign.
FMST has a 50 day moving average of 2.86.
A breakout and close above recent highs could present increased upside potential.
A close near the highs could be confirmation of the new uptrend.
We are continuing to monitor it for sustainable breakout potential.
Sources: EIA, EIA2, SP, WN, Mining, Presentation, I, PR1, PR2, PR3, PR4, PR5, PR6, PR7, Website, Chart
Happy Trading!
SmallCapStocks Team
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