IsoEnergy Receives Conditional Approval to List on Toronto Stock Exchange and Announces Corporate Update

SASKATOON, Saskatchewan, June 21, 2024 /PRNewswire/ – IsoEnergy Ltd. (“IsoEnergy” or the “Company”) (TSXV: ISO) (OTCQX: ISENF) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the “Toronto Stock Exchange“) to obtain a diploma from the TSX Venture Exchange (the “TSX Venture Exchange“) and register its ordinary shares (the “Ordinary actions“) on the Toronto Stock Exchange.

Final approval of the listing is subject to the Company's compliance with certain customary conditions required by the TSX. Upon receipt of final approval from the TSX, the Common Shares will be delisted from the TSXV and will begin trading on the TSX under the symbol “ISO”. The Company will issue a press release once it has confirmed the date on which trading of the Common Shares is expected to commence on the TSX.

Shareholders are not required to exchange their share certificates or direct listing system notices, or take any other action in connection with the listing on the TSX, as there will be no change in the ticker symbol or CUSIP for common shares.

Company Update

The Company is also pleased to announce that, effective June 20, 2024, the Company has filed Articles of Continuance to continue from the province of British Columbia in the province of Ontario. The shareholders of the Company approved the extension at the annual and extraordinary general meeting of shareholders of the Company held on May 22, 2024. The shareholders are not required to take any action in connection with the extension.

As previously announced on June 4, 2024the Company has entered into a definitive agreement in connection with the proposed acquisition of the Bulyea River Project (the “Project“) located at the northern limit of Athabasca Basin (the “Acquisition of the Bulyea River“). The project hosts very high uranium content in lake sediments within a strong airborne radiometric anomaly and represents a shallow subsurface hosted target.

In accordance with a dated agreement May 29, 2024IsoEnergy has agreed to acquire all of the outstanding shares of 2596190 Alberta Ltd., a wholly owned subsidiary of Critical Path Minerals Corp (the “Supplier“) which holds a 100% interest in the Project of approximately 13,000 hectares for a consideration consisting of:

• At the closing, CAN$150,000 in liquid;
• No later than 1^st closing anniversary, CAN$200,000 in cash or ordinary shares, or a combination of both, at the Company's option;
• By the 2nd at the latest^sd closing anniversary, CAN$300,000 in cash or ordinary shares, or a combination of both, at the Company's option;
• By the 3rd at the latest^rd closing anniversary, CAN$350,000 in cash or ordinary shares, or a combination of both, at the Company's option;
• Minimum spending of 2.0 million Canadian dollars to be incurred within 36 months following closing;
• Within 30 days of the publication of a technical report containing a current mineral resource estimate on the project, 1.0 million Canadian dollars payable in cash or ordinary shares, or a combination of both, at the option of the Company; And
• A 2% net smelter returns a royalty payable by the Company to the Seller in respect of production from the Project. IsoEnergy has the right to buy back 1% of the royalty by paying the amount of 1.0 million Canadian dollars in liquid.

The agreement includes a provision for return of the project to the seller in the event the company fails to make anniversary payments as described above.

Closing of the Bulyea River Acquisition is subject to satisfaction of certain customary closing conditions, including approval by the TSXV. All ordinary shares issuable in connection with the Bulyea River Acquisition will be subject to a hold period expiring four months and one day from the date of issuance. No finder's fee is payable in connection with the acquisition and Critical Path Minerals Corp. and 2596190 Alberta Ltd. are parties at arm's length with respect to the Company.

About IsoEnergy Ltd.

IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) is a leading, globally diversified uranium company with significant current and historical mineral resources in major uranium mining jurisdictions of the CanadaUnited States, AustraliaAnd Argentina at different stages of development, thus providing short, medium and long term leverage in the face of rising uranium prices. IsoÉnergie is currently advancing its Larocque Est project to from Canada Athabasca Basin, home to the Hurricane deposit, which has the richest indicated uranium mineral resources in the world.

IsoEnergy also holds a portfolio of licensed and formerly producing conventional uranium and vanadium mines in Utah with a toll milling agreement in place with Energy Fuels Inc. These mines are currently on standby, ready to restart quickly if market conditions permit, positioning IsoEnergy as a near-term uranium producer.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements regarding activities, events or developments that the Company anticipates or anticipates will or may occur in the future, including, without limitation , compliance with the listing requirements of the TSX. ; receipt of final approval from the TSX; the delisting of the common shares from the TSXV and the commencement of trading on the TSX; closing of the acquisition of Bulyea River; and other activities, events or developments that the Company expects or anticipates will or may occur in the future.; . Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates” , ” forecasts “. , “intends”, “anticipates” or “believes” or the negative connotation thereof or variations of these words and phrases or state that certain actions, events or results “may”, “could”, ” would”, “could” or “will be taken”, “occur” or “be achieved” or its negative connotation.

This forward-looking information and statements are based on numerous assumptions, including, among other things, that the Company will be able to satisfy the requirements for listing on the TSX, that the closing conditions of the Bulyea River Acquisition will be satisfied, including receipt of the TSXV. approval, that general business and economic conditions will not change materially adversely, that financing will be available if and when necessary and on reasonable terms, that third party subcontractors, equipment and supplies and governmental approvals and others are required to conduct the business of the Company. planned exploration activities will be available on reasonable terms and in a timely manner. Although assumptions made by the Company in providing forward-looking information or making forward-looking statements were considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be correct.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from projections of future events or results expressed or implied. -meant by this forward-looking information or statements. , including, among other things: failure to satisfy the TSX listing requirements and obtain final approval from the TSX for the listing of the Common Shares, changes in the timing and process of delisting the Shares Common Stock of the TSXV and their listing on the TSX, failure to satisfy the closing conditions of the Bulyea River Acquisition, including obtaining TSXV approval, negative operating cash flows and reliance with respect to third party financing, uncertainty of additional financing, absence of known mineral reserves, influence of a significant shareholder, alternative sources of energy and uranium. pricing, native title and consultation issues, dependence on key management and other personnel, actual results of exploration activities differing from those anticipated, changes in exploration programs based on results, availability of third party contractors, availability of equipment and supplies, failure of equipment to perform as intended; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining approvals governmental or other authorities and risk factors relating to the Company set out in the documents filed by the Company with Canadian securities regulatory authorities and available under IsoEnergy's profile on SEDAR+ at www.sedarplus.ca.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in or implied by forward-looking information, there may be other factors that cause results will not be as anticipated, estimated or implied. destined. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Therefore, readers should not place undue reliance on any forward-looking statements or information. The Company undertakes no obligation to update or reissue any forward-looking information as a result of new information or events, except as required by applicable securities laws.

SOURCE IsoEnergy Ltd.