Foremost Lithium (NASDAQ: FMST) (CSE: FAT), a North American hard-rock lithium exploration company, has entered a property acquisition agreement with Denison Mines Corp. According to the agreement, Denison has granted Foremost an option to acquire up to 70% of Denison’s interest in 10 highly prospective uranium exploration properties, which cover some 330,000 acres in the Athabasca Basin; the agreement also contains other ancillary agreements. In addition, Foremost Lithium announced that it plans to change its name to Foremost Clean Energy Ltd. and that Denison CEO and president David Cates will join the company’s board of directors.
“We are pleased to announce a transformative transaction with Denison, a clear leader in the uranium sector,” said Foremost president and CEO Jason Barnard in the press release. “Uranium prices have seen significant strength in recent years driven by the global demand for clean energy, which has been reinforced by supportive government policies and geopolitical events underscoring the need for reliable western uranium supply. The Athabasca Basin is recognized as one of the world’s leading uranium jurisdictions, with numerous producing mines and high-profile development projects. This collaboration will advance significant near-term exploration and development efforts across numerous high-quality exploration projects to maximize the properties’ potential for the benefit of both Foremost and Denison shareholders.”
To view the full press release, visit https://ibn.fm/yWPo8
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium, assuming the effectiveness of the transaction, will be an emerging North American uranium exploration company with interests in 10 prospective properties spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin. As global demand for decarbonization accelerates, the need for nuclear power is crucial. Foremost expects to be positioned to capitalize on the growing demand for uranium through discovery in a top jurisdiction with the objective to support the world’s energy-transition goals. Alongside its exploration partner Denison, Foremost will be committed to a strategic and disciplined exploration strategy to identify resources by testing drill–ready targets with identified mineralization along strike of recent major discoveries. Foremost also maintains a secondary portfolio of significant lithium projects at different stages of development spanning over 50,000 acres across Manitoba and Quebec. For more information about the company, visit www.ForemostLithium.com
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