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

VANCOUVER, British Columbia, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ("Foremost" or the "Company"), is pleased to announce the appointment of Peter Espig to its Board of Directors, effective immediately. Mr. Espig, who was recognized in Industry Era’s “Top 10 Admired Leaders of 20231”, brings to the Board his experience in, and insights into, guiding a resource company through all stages of development to production. .

“We welcome Peter to the Foremost board,” said Jason Barnard, CEO and President of Foremost Clean Energy. “His experience will be instrumental in steering Foremost as it advances its portfolio of clean energy and critical mineral projects. His insight will be important as we develop our asset base and position Foremost in the clean energy sector. We are also pleased to have recently appointed Harpreet Bajaj, with her extensive background in TSX Venture compliance and corporate governance, as an officer of the Company. These strategic additions to our team significantly strengthen our capabilities as we execute on our near-term operational and corporate goals.”

Mr. Espig commented, “Foremost is a special company, bolstered by solid management and holding exciting uranium and lithium assets, both of which are critical minerals and important to our Canadian economy. I feel that its Athabasca Basin location, relationship with Denison, NASDAQ listing, and motivated team confluence towards an exciting opportunity that provides significant upside.”

As President and CEO of Nicola Mining Inc. (TSX.V: NIM), Mr. Espig led that company out of creditor protection and transformed it into a cash-flowing operation. Under his 12 years of leadership, Nicola’s market capitalization has grown over thirty-fold. Mr. Espig served as Vice-President at Goldman Sachs Japan in the Principal Finance and Securitization Group, where his team participated in more than $10 billion in structured deals and cross-border transactions. Mr. Espig has also been involved in over US$1.2 billion in SPAC transactions prior to the structure gaining prevalence in recent years. Mr. Espig holds a BA from the University of British Columbia and an MBA from Columbia Business School, where he was an International Chazen Scholar.

Corporate Secretary Appointment

Foremost is also pleased to announce the appointment of Harpreet Bajaj as its corporate secretary. Ms. Bajaj is a finance and compliance professional with over 17 years of experience in investment banking, regulatory compliance, and corporate governance. Her career includes key roles at numerous publicly listed companies and as a member of a multinational bank's due diligence division. Her expertise includes regulatory frameworks, risk management, and corporate secretarial services for both public and private companies. Known for her strategic insight and attention to detail, Harpreet brings valuable knowledge and a commitment to operational excellence.

Equity Compensation

In connection with the two appointments the Company has granted 15,618 restricted share units (“RSUs”) in accordance with Foremost’s Stock Incentive Plan (the “Plan”), adopted by shareholders of the Company at its Annual General and Special Meeting held on December 20, 2024. The Plan is compliant with policies of both the CSE and NASDAQ. The RSUs are subject to vesting provisions and to a statutory hold period of four months and one day.

About Foremost

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option from Denison Mines Corp. (“Denison”) to earn up to 70% interest in 10 prospective uranium properties (except for the Hatchet Lake, where Foremost can earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are 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.

Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company’s website at www.foremostcleanenergy.com.