10:29 AM EDT, 08/27/2025 (MT Newswires) -- Foremost Clean Energy ( FMST ) has lost modest earlier gains and was at last look down 2.5% Wednesday even after saying the recently completed radon survey at the Wolverine property in Saskatchewan provides "strong evidence" of subsurface uranium.

Among highlights, the company said results identified elevated radon trends within the property, including a one-kilometer-long anomaly trending northeast and a second anomaly in the northeast portion of the grid, both of which remain open along strike. Survey results reinforce the property's exploration potential, the company added.

Wednesday's statement noted radon surveying measures the relationship between radon gas emissions and the presence of subsurface uranium. As uranium decays, it produces radon gas as one of its daughter products. Because radon is a gas, it can migrate toward the surface, particularly along faults and fractures, where it can be detected and measured.

Jason Barnard, President and CEO, said: "These survey results provide strong evidence that the interpreted structures at Wolverine are associated with elevated radon anomalies which may suggest the presence of subsurface uranium. This strengthens our confidence that the property has the right geological setting to host high-grade unconformity-style uranium mineralization. With these results in hand, our technical team will now integrate the radon data with historical geophysical and drill information to refine high-priority drill targets for future testing. We look forward to advancing Wolverine, which looks like another highly promising project to the ten-project portfolio we have optioned from Denison Mines ( DNN ). We are eager to advance our understanding of this site and systematically unlock any significant mineral potential."

Foremost shares were up $0.01, to $4.42, earlier on the Canadian Securities Exchange.

Price: 4.30, Change: -0.11, Percent Change: -2.49