11:54 AM EST, 03/04/2025 (MT Newswires) -- (Updates shares.)

Foremost Clean Energy ( FMST ) said Tuesday it will begin a near 2,000-meter exploration-drilling program at the Hatchet uranium property in Saskatchewan later this month.

Hatchet is a cornerstone project in Foremost's collaboration with Denison Mines ( DNN ) .

The 2025 drill program aims to expand known mineralization and test several areas prioritized for follow-up, Foremost said.

"Hatchet is already at a discovery-ready stage, with multiple high-priority targets identified and ready for follow-up," chief executive Jason Barnard said. "This is a key differentiator for Foremost, as the advanced stage of Hatchet reduces the risk and cost associated with early stage exploration that would otherwise be required to generate compelling targets."

Foremost noted that its 2024 drill program highlighted the presence of uranium mineralization and associated hydrothermal systems, which will be further evaluated.

Foremost shares were last seen down $0.14 to $1.21 on the Canadian Securities Exchange.

Price: 1.21, Change: -0.14, Percent Change: -10.37