08:53 AM EST, 02/07/2025 (MT Newswires) -- Foremost Clean Energy ( FMST ) said Friday that spinout company Rio Grande Resources is expected to commence trading today on the Canadian Securities Exchange under the RGR symbol.

Rio Grande Resources owns the Winston Group of Properties, which comprises 147 unpatented lode mining claims and two patented mining claims in New Mexico.

"This listing is a significant milestone, providing a dedicated and focused team with the resources to develop its exceptional gold and silver assets in New Mexico," said Jason Barnard, president and CEO of Foremost.

"With the recent surge in gold and silver prices, companies like Rio Grande Resources are well-positioned, as investors increasingly turn to precious metals as a safe haven and a hedge against inflation," Barnard added.

Rio Grande expects to initiate a modern exploration program at its New Mexico properties, focusing on the previously high-grade sampled areas on the Winston property. The company also plans to conduct a 3,000-foot diamond drilling program.

Foremost's share price rose 3.5% on Thursday to $1.50 on the TSX.