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Globe and Mail
27-05-2025
- Business
- Globe and Mail
Foremost Clean Energy Successfully Regains Compliance with Nasdaq Minimum Bid Price Requirement Supported by Significant Trading Volume and +260% Increase in Share Price
Share price increased by 264% from April 7, 2025 (non-compliance notice) to US$2.60 by May 22, 2025 (compliance achieved) indicating strong market sentiment and investor confidence in Foremost's business strategy VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (' Foremost ' or the ' Company ') an emerging North American uranium and lithium exploration company, today announced that on May 23, 2025, it received written notice (the ' Compliance Notice ') from The Nasdaq Stock Market LLC (' Nasdaq ') informing the Company that it had regained compliance with Nasdaq Listing Rule 5550(a)(2) (the ' Nasdaq Listing Rule '), which requires that companies listed on Nasdaq maintain a minimum bid price of US$1.00 per share. The Company was previously notified by Nasdaq that it was not in compliance with the Nasdaq Listing Rule because its common stock failed to maintain a minimum closing bid price of US$1.00 per share for 30 consecutive business days. On May 23, 2025, Nasdaq issued the Compliance Notice, which notes that the Company's common shares successfully maintained a closing bid price of US$1.00 per share or greater from May 09, 2025, to May 22, 2025, and thus has regained compliance with the Nasdaq Listing Rule and that the matter was now closed. Foremost President and CEO Jason Barnard comments ' Regaining compliance with Nasdaq's listing requirements underscores the market's confidence in Foremost's business strategy and the growing positive sentiment around the uranium sector's critical role in pursuit of both energy independence and the global clean energy transition. Since we received Nasdaq's notice on April 7, 2025, the stock has rebounded significantly, closing at US$2.60 just weeks later to regain compliance with a staggering 264% increase supported by sustained and significant trading liquidity on Foremost's Nasdaq listing. We believe this reflects investor recognition of our recent exploration success and our unique partnership with NYSE-listed Denison Mines Corp. ('Denison', NYSE American: DNN), which uniquely position Foremost to deliver on the discovery of critical new sources of North American uranium resources amid continuing geopolitical shifts and industry tailwinds. 'President Trump's landmark executive orders on May 23, 2025, mark a potentially generational shift for nuclear energy by elevating its strategic importance. With a goal to quadruple capacity to 400 GW by 2050, which is 2.5 times the current global uranium supply, the Defense Production Act emphasizes uranium as a key infrastructure priority. With Canada already currently supplying ~25% of America's uranium, this strategic realignment underscores the importance of discovering additional reliable sources to support future energy independence.' Mr. Barnard continues 'We are now at a critical inflection point for the nuclear industry, which could translate into unprecedented demand in the uranium sector. This pivotal moment of transformation is anticipated to present significant opportunities for our company and the recent market interest in Foremost could be just the beginning of what we believe could evolve into a powerful, sustained and long growth cycle for our company. 'Our projects are located in the world-renowned Athabasca Basin, home to some of the planet's largest and highest-grade uranium deposits. Our key relationship with Denison, which is on track to start construction of Canada's first in-situ recovery (ISR) uranium mine in 2026, may enable us to accelerate our own discovery and production timelines. While there are well over 60 exploration companies competing in the Basin, our collaboration with Denison is unique and provides us a clear competitive advantage, whereby leveraging Denison's capabilities could enable us to bypass years of delays and deliver high-grade uranium into a supply-starved market. Foremost is actively working to solidify the role it can play in the North American nuclear renaissance through our continued exploration efforts and ongoing commitment to deliver strong performance for our shareholders.' About Foremost Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option from Denison Mines Corp. ('Denison') to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs. Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company's website at Contact and Information Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute 'forward-looking statements' as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to statements regarding expectations with respect to energy and uranium demand and the Company's exploration plans and objectives. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or 'does not expect,' 'is expected,' 'anticipates' or 'does not anticipate,' 'plans,' 'estimates' or 'intends,' or stating that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the option agreement with Denison, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company's most recent filings under its profile on Sedar+ at and on Edgar at for further information respecting the risks affecting the Company and its business.
Business Upturn
15-05-2025
- Business
- Business Upturn
Foremost Clean Energy Completes Highly Successful Exploration Drill Program at Hatchet Uranium Property and Provides Corporate Update
Highlights include: Anomalous radioactivity was detected in 6 out of 10 completed drill holes, assay results are pending At Tuning Fork, identification of an extensive hydrothermal system, strong alteration halo, and anomalous radioactivity surrounding drill hole TF-25-16 At Richardson, uranium mineralization was extended 50-metres along the Richardson conductor in drill hole RL-25-32 confirming system's growth potential VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) — Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ('Foremost' or the 'Company') completed a highly successful maiden winter drill program at the Hatchet Lake Uranium Property ('Hatchet'), which is located in the world-renowned Athabasca Basin region of northern Saskatchewan (Figure 1). The diamond drill program, originally planned as an 8-hole ~2,000 metre program, increased to 10-holes for over 2,400 metres following positive preliminary results from drill hole TF-25-16 – which discovered a new area of uranium mineralization highlighted by a mineralized interval of 0.10% eU 3 O 8 over 6.5m, including 0.22% eU 3 O 8 over 0.9m, within a 15m wide zone of alteration. Anomalous radioactivity was detected directly above and/or below the unconformity in six of the ten drill holes completed as part of the drill program: RL-25-32, TF-25-13, TF-25-16, TF-25-17, TF-25-18, and TF-25-19. Samples from the mineralized intersections in these drill holes have been submitted for assay and results are pending. A notable highlight from the completion of the drill program was the 50 metre extension of previous mineralization along the Richardson conductor with drill hole RL-25-32, which returned two discrete mineralized intervals, as summarized in Table 1. Table 1 – Drill Hole RL-25-32 – Downhole Gamma Probe Highlights From (m) To (m) Length (m) (1) eU 3 O 8 (%)(2) 89.94 90.14 0.2 0.082 239.54 239.74 0.2 0.077 (1) Final depth measurements and true thickness have not yet been determined (2) Composited at a 0.05% eU 3 O 8 cut-off Jason Barnard, Foremost's President and CEO commented, 'Our immediate success at Hatchet is attributable to Foremost's unique collaboration with Denison Mines Corp. ('Denison'), where Denison's extensive historic work on the property has identified several prospective structural settings for the potential discovery of uranium mineralization. We are particularly excited about the result from drill hole TF-25-16, which was the first hole completed in a 600-meter gap in an under-explored target area, resulting in the discovery of a new area of uranium mineralized. Based on follow up drilling in this area we are seeing strong radioactivity within graphitic shear zones, classic Athabasca-style clay alteration, and evidence of multiple mineralization events – making this an exciting new discovery with many of the hallmarks of a high-grade unconformity system that is open in every direction.' 'For our shareholders, these results validate our strategy and speak to the potential of Foremost's ten uranium exploration properties under option from Denison: leveraging our strategic collaboration with Denison to make high-impact discoveries in one of the world's premier uranium districts. As we await assays from Hatchet and plan further follow-up drilling, we're equally excited to be able to apply the same exploration model across our portfolio, including expected upcoming drill programs at CLK and Murphy Lake South.' Figure 1 – Hatchet Lake location and overview map Tuning Fork Figure 2 – Tuning Fork Claim Block – 2025 drill hole locations and historical results. Two drill holes were completed for initial follow up of the mineralization discovered in TF-25-16 – with TF-25-17 & TF-25-18 drilled off the same pad location as TF-25-16 and designed to examine the up-dip and down-dip extension of the mineralization intersected in TF-25-16. Two additional drill holes, TF-25-19 & TF-25-20, were completed to target the conductor axis 40-metres and 60-metres NE and SW, respectively, to test the along strike extension of the mineralization encountered in TF-25-16 (Figure 2). Extensive hydrothermal alteration (clay, hematite, and chlorite) was encountered with elevated radioactivity near the unconformity in each of the follow up drill holes, except for TF-25-20. These alteration markers are potentially indicative of a significant hydrothermal system, and when combined with confirmed uranium mineralization near major structural boundaries, represent one of the most reliable indicators of a high-potential area for follow-up. Richardson Figure 3 – Richardson Claim Block – 2025 drill hole locations and historical results. The mineralization discovered in RL-25-32, at an approximate depth of 90 metres, is interpreted to be an extension of the mineralization intersected by RL-24-29 in 2024 (Figure 3). The second mineralized interval in RL-25-32, intersected mineralization at a depth of approximately 240 metres, which represents a new horizon for mineralization on the Richardson conductor, as previous drilling was generally aimed at shallow targets. Overall, the confirmation of mineralization along strike and the discovery of a new mineralized interval at depth is highly encouraging for the Richardson trend and suggests that there may be potential to discover additional mineralization along trend at depth, which is largely untested by historical drilling. Numerous additional target locations have been identified on the Richardson trend and warrant future drill testing. Samples from drill core were collected during the drill program and shipped to SRC Geoanalytical Labs ('SRC') and all applicable Portable Infrared Mineral Analyzer ('PIMA') samples have been shipped to Rekasa Rocks Inc. to analyze and determine clay species. Assays are currently undergoing analysis and will be announced by news release upon completion, expected in the coming weeks. Planned Follow-Up Exploration at Hatchet Lake Work in 2025 will focus on integrating newly acquired geochemical, structural, and geological data to refine vectors toward the potential source of the recently discovered mineralization. Ground geophysics is currently being evaluated to help de-risk future drilling by delineating key structures and alteration zones identified in the latest campaign. A winter 2025–2026 drill program is being planned to test newly defined anomalies and advance the geological understanding of the mineralization intersected in drillhole TF-25-16. Conducting the program during the winter season will enable drilling of high priority targets accessible by drilling from frozen lake surfaces. Additional follow-up exploration is scheduled across the broader Hatchet Lake property during this period, positioning the project for its next phase of discovery and development. Technical Advisor Appointment Foremost is pleased to report the appointment of Chad Sorba, Denison's Vice President of Technical Services & Project Evaluation, as Technical Advisor to the Company pursuant to the transaction announced with Denison in 2024. Mr. Sorba is a Professional Geologist (P. Geo) with nearly two decades of experience in Canadian and international uranium exploration, evaluation, and development, and serves as Denison's Qualified Person pursuant to NI 43-101. During his tenure at Denison, he has led various projects, including Denison's flagship Wheeler River project, from discovery through to various levels of technical assessments, and evaluated numerous uranium projects for their economic potential, supporting several of Denison's past asset acquisitions. Mr. Sorba is a key technical leader of the Denison team that is pioneering the use of the In-Situ Recovery ('ISR') mining method at certain high-grade uranium deposits in Saskatchewan, including involvement in the design and implementation of the first-of-its-kind ISR feasibility field test, which was successfully completed at Denison's Phoenix deposit. He was a critical member of the discovery team for both of Denison's Phoenix and Gryphon uranium deposits and brings a wealth of Athabasca-focused expertise in uranium exploration to Foremost. Mr. Sorba's advisory role reinforces Foremost's commitment to technical excellence, disciplined project development, and value-driven growth in the uranium sector. This collaboration aligns with the Company's strategy to leverage world-class expertise as it progresses its exploration and development objectives. Sampling, Analytical Methods and QA/QC Protocols Following the completion of a drill hole, the hole is radiometrically logged using a downhole gamma probe, which collects readings of radioactivity every 0.1m along the length of the drill hole. Probe results are then calibrated using an algorithm calculated from the comparison of probe results against a geochemical reference. The gamma-log results provide an immediate radiometric equivalent uranium value (eU3O8%) for the hole, which, except in very high-grade zones, is reasonably accurate. The downhole gamma probe data detailed in this news release was measured using a QL40-GR Natural Gamma probe from Mount Sopris that was calibrated on February 27, 2025, at the Grand Junction, CO, calibration test pits. Downhole measurements were taken at 0.10m intervals from the top of hole and depth corrected to the handheld RS-125 scintillometer, which was used to determine radioactivity of the core. Final depth measurements and true thickness have not yet been determined. Where core has been recovered, sampling over mineralized interval is standardized 0.5m samples, except over intervals of strongly elevated radioactivity where select samples between 0.10 & 0.25m were collected. This includes shoulder samples 1m above and below the elevated zone. These select samples were split in half, with one kept in the core box and the other shipped to SRC for sample preparation and analysis. SRC is an independent laboratory with ISO/IEC 17025: 2005 accreditation for the relevant procedures. Control samples are implemented at a frequency of ~5%. PIMA samples were taken systematically every 10m with increased sample density around strong alteration. Samples were dried and placed into Ziplock bags in preparation for shipping to Rekasa Rocks Inc. PIMA samples are used to identify the different clay species present in the sample to identify clay minerals that can assist in the identification of a potential hydrothermal source. Qualified Person The technical content of this news release has been reviewed and approved by Jordan Pearson, P. Geo., Project Geologist for Dahrouge Geological Consulting Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and reviewed the content of this press release. A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property's potential and are relevant for any future exploration program. About Foremost Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs. Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company's website at Contact and Information CompanyJason Barnard, President and CEO+1 (604) 330-8067 [email protected]
Hamilton Spectator
15-05-2025
- Business
- Hamilton Spectator
Foremost Clean Energy Completes Highly Successful Exploration Drill Program at Hatchet Uranium Property and Provides Corporate Update
Highlights include: VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) — Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ('Foremost' or the 'Company') completed a highly successful maiden winter drill program at the Hatchet Lake Uranium Property ('Hatchet'), which is located in the world-renowned Athabasca Basin region of northern Saskatchewan (Figure 1). The diamond drill program, originally planned as an 8-hole ~2,000 metre program, increased to 10-holes for over 2,400 metres following positive preliminary results from drill hole TF-25-16 – which discovered a new area of uranium mineralization highlighted by a mineralized interval of 0.10% eU3O8 over 6.5m, including 0.22% eU3O8 over 0.9m, within a 15m wide zone of alteration. Anomalous radioactivity was detected directly above and/or below the unconformity in six of the ten drill holes completed as part of the drill program: RL-25-32, TF-25-13, TF-25-16, TF-25-17, TF-25-18, and TF-25-19. Samples from the mineralized intersections in these drill holes have been submitted for assay and results are pending. A notable highlight from the completion of the drill program was the 50 metre extension of previous mineralization along the Richardson conductor with drill hole RL-25-32, which returned two discrete mineralized intervals, as summarized in Table 1. Table 1 – Drill Hole RL-25-32 – Downhole Gamma Probe Highlights (1) Final depth measurements and true thickness have not yet been determined (2) Composited at a 0.05% eU 3 O 8 cut-off Jason Barnard, Foremost's President and CEO commented, 'Our immediate success at Hatchet is attributable to Foremost's unique collaboration with Denison Mines Corp. ('Denison'), where Denison's extensive historic work on the property has identified several prospective structural settings for the potential discovery of uranium mineralization. We are particularly excited about the result from drill hole TF-25-16, which was the first hole completed in a 600-meter gap in an under-explored target area, resulting in the discovery of a new area of uranium mineralized. Based on follow up drilling in this area we are seeing strong radioactivity within graphitic shear zones, classic Athabasca-style clay alteration, and evidence of multiple mineralization events – making this an exciting new discovery with many of the hallmarks of a high-grade unconformity system that is open in every direction.' 'For our shareholders, these results validate our strategy and speak to the potential of Foremost's ten uranium exploration properties under option from Denison: leveraging our strategic collaboration with Denison to make high-impact discoveries in one of the world's premier uranium districts. As we await assays from Hatchet and plan further follow-up drilling, we're equally excited to be able to apply the same exploration model across our portfolio, including expected upcoming drill programs at CLK and Murphy Lake South.' Figure 1 – Hatchet Lake location and overview map Tuning Fork Figure 2 – Tuning Fork Claim Block - 2025 drill hole locations and historical results. Two drill holes were completed for initial follow up of the mineralization discovered in TF-25-16 – with TF-25-17 & TF-25-18 drilled off the same pad location as TF-25-16 and designed to examine the up-dip and down-dip extension of the mineralization intersected in TF-25-16. Two additional drill holes, TF-25-19 & TF-25-20, were completed to target the conductor axis 40-metres and 60-metres NE and SW, respectively, to test the along strike extension of the mineralization encountered in TF-25-16 (Figure 2). Extensive hydrothermal alteration (clay, hematite, and chlorite) was encountered with elevated radioactivity near the unconformity in each of the follow up drill holes, except for TF-25-20. These alteration markers are potentially indicative of a significant hydrothermal system, and when combined with confirmed uranium mineralization near major structural boundaries, represent one of the most reliable indicators of a high-potential area for follow-up. Richardson Figure 3 – Richardson Claim Block - 2025 drill hole locations and historical results. The mineralization discovered in RL-25-32, at an approximate depth of 90 metres, is interpreted to be an extension of the mineralization intersected by RL-24-29 in 2024 (Figure 3). The second mineralized interval in RL-25-32, intersected mineralization at a depth of approximately 240 metres, which represents a new horizon for mineralization on the Richardson conductor, as previous drilling was generally aimed at shallow targets. Overall, the confirmation of mineralization along strike and the discovery of a new mineralized interval at depth is highly encouraging for the Richardson trend and suggests that there may be potential to discover additional mineralization along trend at depth, which is largely untested by historical drilling. Numerous additional target locations have been identified on the Richardson trend and warrant future drill testing. Samples from drill core were collected during the drill program and shipped to SRC Geoanalytical Labs ('SRC') and all applicable Portable Infrared Mineral Analyzer ('PIMA') samples have been shipped to Rekasa Rocks Inc. to analyze and determine clay species. Assays are currently undergoing analysis and will be announced by news release upon completion, expected in the coming weeks. Planned Follow-Up Exploration at Hatchet Lake Work in 2025 will focus on integrating newly acquired geochemical, structural, and geological data to refine vectors toward the potential source of the recently discovered mineralization. Ground geophysics is currently being evaluated to help de-risk future drilling by delineating key structures and alteration zones identified in the latest campaign. A winter 2025–2026 drill program is being planned to test newly defined anomalies and advance the geological understanding of the mineralization intersected in drillhole TF-25-16. Conducting the program during the winter season will enable drilling of high priority targets accessible by drilling from frozen lake surfaces. Additional follow-up exploration is scheduled across the broader Hatchet Lake property during this period, positioning the project for its next phase of discovery and development. Technical Advisor Appointment Foremost is pleased to report the appointment of Chad Sorba, Denison's Vice President of Technical Services & Project Evaluation, as Technical Advisor to the Company pursuant to the transaction announced with Denison in 2024. Mr. Sorba is a Professional Geologist (P. Geo) with nearly two decades of experience in Canadian and international uranium exploration, evaluation, and development, and serves as Denison's Qualified Person pursuant to NI 43-101. During his tenure at Denison, he has led various projects, including Denison's flagship Wheeler River project, from discovery through to various levels of technical assessments, and evaluated numerous uranium projects for their economic potential, supporting several of Denison's past asset acquisitions. Mr. Sorba is a key technical leader of the Denison team that is pioneering the use of the In-Situ Recovery ('ISR') mining method at certain high-grade uranium deposits in Saskatchewan, including involvement in the design and implementation of the first-of-its-kind ISR feasibility field test, which was successfully completed at Denison's Phoenix deposit. He was a critical member of the discovery team for both of Denison's Phoenix and Gryphon uranium deposits and brings a wealth of Athabasca-focused expertise in uranium exploration to Foremost. Mr. Sorba's advisory role reinforces Foremost's commitment to technical excellence, disciplined project development, and value-driven growth in the uranium sector. This collaboration aligns with the Company's strategy to leverage world-class expertise as it progresses its exploration and development objectives. Sampling, Analytical Methods and QA/QC Protocols Following the completion of a drill hole, the hole is radiometrically logged using a downhole gamma probe, which collects readings of radioactivity every 0.1m along the length of the drill hole. Probe results are then calibrated using an algorithm calculated from the comparison of probe results against a geochemical reference. The gamma-log results provide an immediate radiometric equivalent uranium value (eU3O8%) for the hole, which, except in very high-grade zones, is reasonably accurate. The downhole gamma probe data detailed in this news release was measured using a QL40-GR Natural Gamma probe from Mount Sopris that was calibrated on February 27, 2025, at the Grand Junction, CO, calibration test pits. Downhole measurements were taken at 0.10m intervals from the top of hole and depth corrected to the handheld RS-125 scintillometer, which was used to determine radioactivity of the core. Final depth measurements and true thickness have not yet been determined. Where core has been recovered, sampling over mineralized interval is standardized 0.5m samples, except over intervals of strongly elevated radioactivity where select samples between 0.10 & 0.25m were collected. This includes shoulder samples 1m above and below the elevated zone. These select samples were split in half, with one kept in the core box and the other shipped to SRC for sample preparation and analysis. SRC is an independent laboratory with ISO/IEC 17025: 2005 accreditation for the relevant procedures. Control samples are implemented at a frequency of ~5%. PIMA samples were taken systematically every 10m with increased sample density around strong alteration. Samples were dried and placed into Ziplock bags in preparation for shipping to Rekasa Rocks Inc. PIMA samples are used to identify the different clay species present in the sample to identify clay minerals that can assist in the identification of a potential hydrothermal source. Qualified Person The technical content of this news release has been reviewed and approved by Jordan Pearson, P. Geo., Project Geologist for Dahrouge Geological Consulting Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and reviewed the content of this press release. A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property's potential and are relevant for any future exploration program. About Foremost Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs. Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company's website at . Contact and Information Company Jason Barnard, President and CEO +1 (604) 330-8067 info@ Follow us or contact us on social media: X: @fmstcleanenergy LinkedIn: Facebook: Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute 'forward-looking statements' as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or 'does not expect,' 'is expected,' 'anticipates' or 'does not anticipate,' 'plans,' 'estimates' or 'intends,' or stating that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the option agreement with Denison, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company's most recent filings under its profile on Sedar+ at and on Edgar at for further information respecting the risks affecting the Company and its business. The CSE has neither approved nor disapproves the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. Figures accompanying this announcement are available at:
Associated Press
17-03-2025
- Business
- Associated Press
Rio Grande Resources Announces the Commencement of its 2025 Exploration Program on its Winston Group of Gold and Silver Properties
VANCOUVER, BC / ACCESS Newswire / March 17, 2025 / Rio Grande Resources Ltd. (CSE:RGR) ('Rio Grande' or 'RIO' the 'Company'), an emerging North American gold and silver exploration company, is pleased to announce an exploration and sample program will commence on Monday, March 24, 2025 at its Winston Group of Gold and Silver Properties ('Winston' or 'The Winston Project') located in the Black Range Mountains in the Chloride Mining District of Sierra County, New Mexico, USA. The initial phase of this program is strategically designed to refine targets for evaluation, to test new high-priority zones and will include systematic sampling for additional targets. Jason Barnard, CEO of Rio Grande Resources, comments: 'Rio Grande is embarking on a new chapter at our Winston Project at an exciting time, with a robust and bullish gold/silver market providing an ideal backdrop. Given that the Winston Project hosts several past and present silver mines, we are confident that this exploration program will identify additional promising targets. We are sitting on a district hosting several past and present gold and silver mines, and we believe it holds tremendous potential for significant discoveries. Our systematic sampling and comprehensive analysis will build a strong foundation for future drilling and bring us closer to realizing the property's full potential, with our team dedicated to rapidly advancing the Winston Project for our shareholders.' The Winston Project encompasses over 3,000 acres and includes the historic Ivanhoe, Emporia, and Little Granite mines, with exploration being undertaken under the leadership of Dr. M. Feinstein, PhD, CPG. The Ivanhoe and Emporia consists of 2 patented lode claims, which were past producing gold-silver mines, under the same name. Discovered in the 1880s, the Ivanhoe features three shafts reaching a depth of 470 feet and multiple subterranean levels intermittently worked throughout its history. The Little Granite, consisting of 4 lode mine claims, has a main vein that has been traced for over 200 meters by past drilling and remains open along strike and at depth. Historic reports suggest the Little Granite Vein widens to approximately 3m (10ft) at depth. Mining in this area only ceased due to the decline in the price of silver and gold and not for a lack of significant mineralization. The sampling program will include: Figure 1. Area of Interest Highlighting Rio Grande's Core North Land Holding Along the Paymaster Fault Zone Corridor The program will focus on geological mapping and systematic sampling along a 3 KM area of interest along the Paymaster Fault zone (highlighted section in red circle in figure 1), a significant structural feature associated with historical gold-silver vein deposits. In late 2022, the Company expanded its land holdings by acquiring eight additional claims along the northern extension of the Paymaster Fault. Rio will also conduct additional exploration along a prospective mineralized footprint that extends 8-kilometers in strike length and ranges from 1 to 2 kilometers in width. Geological evidence suggests a low-to-intermediate sulfidation epithermal vein system, with high-grade gold and silver mineralization confirmed across the property. While previous exploration occurred primarily in the 1970s and 1980s, Rio intends to leverage modern exploration concepts and advanced technologies including high-resolution geophysics, geochemical analysis and systematic methodologies to define geometry, controls on mineralization to delineate potential ore zones. All samples collected will be submitted to ALS Global Laboratories via their intake facility in Tucson, AZ, for gold analysis by Fire Assay and multi-element analysis by 4-acid digestion and ICP. Assays will be released in a future news release. Leadership Updates Rio Grande would like to announce that Raymond Strafehl has transitioned from his role as President and into the role as Vice President of Corporate Development. He will continue on the Board. Current CEO, Jason Barnard, will be acting as Interim President effective immediately until his successor is announced. Equity Grant Further, the Company announces that it has granted an aggregate 50,000 stock options to a consultant of the Company, exercisable at $.07and valid for a 3-year term. All stock options issued are subject to a statutory hold period of four months and one day and have been granted in accordance with the Company's Omnibus Long-Term Incentive Plan dated December 20, 2024 and the policies of the Canadian Securities Exchange. Qualified Person Technical information in this news release has been reviewed and approved by Michael Feinstein, PhD, CPG, who is a Qualified Person as identified by Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects. AboutRio Grande Resources Rio Grande Resources (CSE:RGR) is a burgeoning mineral exploration company focused on unlocking the high-grade gold and silver potential within its 3,000-acre drill-ready property in the Black Range of Sierra County, New Mexico. The company holds 100% interest in the Winston project group, which includes the 2 patented historic Ivanhoe & Emporia Claims, and Little Granite mines, all known for their past production of high-grade precious metals. Rio Grande Resources is led by a team of experienced professionals with expertise in mineral exploration and development, who are targeting large-scale precious metal discoveries within the property's well-documented low-sulfidation epithermal setting. To view the company fact sheet and corporate presentation please visit our website at Company Jason Barnard, President & CEO and Director (604) 767-6598 [email protected] Investor Relations Contact: Lucas A. Zimmerman & Ian Scargill MZ Group - MZ North America (262) 357-2918 [email protected] Follow us or contact us on social media X: @RioGrandeRGR Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute 'forward-looking statements' as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward looking statements. Such forward-looking statements and forward-looking information include, but are not limited CSE and the proposed benefits of the Arrangement. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or 'does not expect,' 'is expected,' 'anticipates' or 'does not anticipate,' 'plans,' 'estimates' or 'intends,' or stating that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties, the satisfaction of the conditions to the Arrangement, risks and uncertainties associated with the environment and delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings on SEDAR+. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company's most recent filings under its profile at on SEDAR+ at for further information respecting the risks affecting the Company and its business. The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Associated Press
27-02-2025
- Business
- Associated Press
Rio Grande Resources Completes LiDAR and MAG Surveys on its Winston Group of Gold/Silver Properties in New Mexico, USA
VANCOUVER, BC / ACCESS Newswire / February 27, 2025 / Rio Grande Resources Ltd. (CSE:RGR) ('Rio Grande' or 'RIO' the 'Company'), an emerging North American gold and silver exploration company is pleased to announce the successful completion of a high-resolution LiDAR and magnetic survey over its Winston Group of Gold and Silver Properties ('Winston' or the 'Winston Project') located in the Black Range Mountains in the Chloride Mining District of Sierra County, New Mexico, USA. The magnetic survey, conducted by KLM Geoscience, ('KLM') Las Vegas, Nevada, a leading geophysical services provider, was carried out to advanced specifications and marks a significant milestone in the company's exploration program. Magnetic Survey Magnetic surveys provide detailed geophysical data to assist in identifying subsurface structures and magnetic anomalies associated with mineralization. KLM utilized advanced equipment including a Gem Systems GSM-19W rover magnetometer with integrated GPS. This cutting-edge technology ensures high-quality data collection, enabling precise interpretation of magnetic anomalies. The scope of the magnetic survey at the Winston Project included the following parameters: 'We are extremely excited about the completion of these surveys,' said Jason Barnard, CEO of Rio Grande Resources. 'The combination of LiDAR and magnetic data provides us unique insights into the property's geology and mineralization potential. The company remains committed to advancing its exploration efforts in a systematic and data-driven manner, with the goal of delivering value to shareholders' Magnetic surveys measure the local variations in the Earth's magnetic field caused by magnetic minerals in the rocks. Variable magnetic susceptibility in the local host rocks (rhyolite-andesite-limestone) provides good contrast and the identification of rock units and structural zones. The maps highlight the boundaries of magnetic bodies, making it easier to identify geological structures like faults or contacts between rock types. The gold and silver veins of the Winston Project have emplaced along these structural zones, which can be delineated from a magnetic signature (see figure 1 below). Fig 1. RTP Filtered Upward 50m Magnetic Survey Map of Winston Project. Interpreting the Data: RTP (reduce to pole) Maps and Magnetic Survey Colors Magnetic Survey maps correct for the inclination of the Earth's magnetic field, making magnetic anomalies align directly over their sources. The colors reference indicate: Warm Colors (red, orange): strong magnetic responses, often associated with magnetic minerals present in Andesite or intrusive rocks Medium Colors (yellow-green: intermediate response that generally correlates with rhyolite, that locally cover andesites of variable thickness Cool Colors (blues): represent weak magnetic responses, which indicate non-magnetic rocks such as limestone; or alteration zones that may be associated with gold and silver mineralization LiDAR Survey LiDAR (Light Detection and Ranging) data was acquired over 42 square miles, providing detailed topographic control of the area. By emitting laser pulses, LiDAR can create a highly accurate representation of the terrain and surface elevation. The LiDAR-derived elevation data collected from Winston, enabled the remote identification of historic mining activities (e.g., prospect pits) and structural features, while also facilitating precise measurements for targeting and drill planning in a 3D space. The Company was able to produce very detailed digital elevation models and better maps to use in structural geology studies for identification of stockpile ore and dumps, and historical mineral exploration sites (see figure 2 below). Figure 2. The Winston Topographic Basemap Resolution On Left with High Resolution Project Dataset Integrating Magnetics And Lidar On Right. This data is invaluable for identifying geological features, such as faults, fractures, and outcrops. It will assist in assessing features of the property with considerable precision and flexibility, and in turn, be able to determine which veins and holes to target with higher degree of accuracy, which may influence gold deposition. The data will be integrated with magnetic data to generate a comprehensive geological model of the project. Next Steps Rio Grande Resources is analyzing and integrating all data to identify high-priority targets for follow-up exploration, including soil sampling, geochemical and geophysical analysis, and future drilling. The integration of LiDAR and magnetic data will guide exploration activities. Equity Grants Rio Grande would also like to announce that it entered into an investor relations consulting agreement with MZHCI, LLC ('MZHCI') to provide investor relations and corporate communications services for an initial twelve-month term commencing on February 26, 2025, which shall automatically renew for successive twelve-month terms until terminated by either party on providing sixty days' notice, in consideration of USD$3,500 per month and 1,278,453 stock options of the Company, exercisable at $0.065 per share and valid for a 5 year term. MZHCI does not currently own any interest, directly or indirectly, in the Company or its securities aside from the option grant. MZHCI's address is Aliso Creek Road, Suite 250, Aliso Viejo, CA, 92656 (phone: (262) 357-2918, email: [email protected]). MZHCI and its directors and officers are arm's length from the Company. Further, the Company announces that it has granted an aggregate 20,000 stock options to an officer and consultants of the Company, exercisable at $0.065 and valid for a 2 year term. All stock options issued are subject to a statutory hold period of four months and one day and have been granted in accordance with the Company's Omnibus Long-Term Incentive Plan dated December 20, 2024 and the policies of the Canadian Securities Exchange. Qualified Person Technical information in this news release has been reviewed and approved by Michael Feinstein, PhD, CPG, who is a Qualified Person as identified by Canadian National Instrument 43-101-Standards of Disclosure for Mineral Projects. About Rio Grande Resources Rio Grande Resources (CSE:RGR) is a burgeoning mineral exploration company focused on unlocking the high-grade gold and silver potential within its 3,000-acre drill-ready property in the Black Range of Sierra County, New Mexico. The company holds 100% interest in the Winston project group, which includes the 2 patented historic Ivanhoe & Emporia Claims, and Little Granite mines, all known for their past production of high-grade precious metals. Rio Grande Resources is led by a team of experienced professionals with expertise in mineral exploration and development, who are targeting large-scale precious metal discoveries within the property's well-documented low-sulfidation epithermal setting. To view the company fact sheet and corporate presentation please visit our website at Company Jason Barnard, CEO and Director (604) 767-6598 [email protected] Investor Relations Contact: Lucas A. Zimmerman & Ian Scargill MZ Group - MZ North America (262) 357-2918 [email protected] Follow us or contact us on social media X: @RioGrandeRGR Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute 'forward-looking statements' as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward looking statements. Such forward-looking statements and forward-looking information include, but are not limited CSE and the proposed benefits of the Arrangement. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or 'does not expect,' 'is expected,' 'anticipates' or 'does not anticipate,' 'plans,' 'estimates' or 'intends,' or stating that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties, the satisfaction of the conditions to the Arrangement, risks and uncertainties associated with the environment and delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings on SEDAR+. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company's most recent filings under its profile at on SEDAR+ at for further information respecting the risks affecting the Company and its business. The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
