09:52 AM EDT, 06/05/2025 (MT Newswires) -- Foremost Clean Energy ( FMST ) was up 12% and had hit fresh 52 week highs at last look on Thursday after saying it has been granted a three-year exploration permit for the Murphy Lake South Property in northern Saskatchewan.

A statement noted the permit, valid until December 31, 2027, allows Foremost to conduct mineral exploration activities including geochemical surveys, geophysics, and drilling of up to 30 holes.

Foremost is planning the final details of a fully-funded summer drill program for Murphy Lake South, which it optioned from Denison Mines ( DNN ) .

The statement noted that previous drilling by Denison Mines ( DNN ) on the property identified anomalous uranium and pathfinder elements, highlighting the "potential for a meaningful new discovery".