11:58 AM EDT, 06/10/2025 (MT Newswires) -- (Updates shares.)

Foremost Clean Energy ( FMST ) at last look on Tuesday fell 18% as the company secured a three-year exploration permit for the CLK property in Saskatchewan.

The permit granted by the Saskatchewan Ministry of Environment allows Foremost to conduct ground geophysics and drilling of up to 30 holes, the company said.

Foremost plans to begin its exploration campaign in the third quarter.

"Securing this permit, which is valid until the end of 2027, provides us the flexibility to test near high-grade historic uranium mineralization and potentially evaluate other targets on the project in the months and years to come," said Jason Barnard, Foremost's president and CEO.

Foremost said it expects the results of its recently completed MobileMT geophysical survey to further refine and prioritize targets for its drill program.

The company's shares were last seen down $1.04 to $4.62 on the Canadian Securities Exchange.

Price: 2.22, Change: -0.15, Percent Change: -6.33