Foremost Clean Energy Provides Update of its Anticipated Closing Date of its Spin-Out from January 30 to January 31, 2025

Core Viewpoint - Foremost Clean Energy Ltd. is set to spin out its gold and silver properties into a new public company, Rio Grande Resources Ltd., with the effective date now scheduled for January 31, 2025 [1] Company Overview - Foremost Clean Energy Ltd. is an emerging North American uranium and lithium exploration company, holding an option to earn up to a 70% interest in 10 uranium properties across over 330,000 acres in the Athabasca Basin, Saskatchewan [3] - The company also has a portfolio of lithium projects at various development stages, located on more than 55,000 acres in Manitoba and Quebec [4] Spin-Out Details - Shareholders of Foremost as of January 30, 2025, will receive one New Foremost Share and two Rio Grande Shares for each Foremost Share held as of the Surrender Date [1] - Registered shareholders with physical share certificates should refer to the January 28, 2025 news release for instructions on receiving the Consideration Shares [2]