Mr. Philip Williams reports

ISOENERGY RECEIVES CONDITIONAL APPROVAL TO GRADUATE TO THE TORONTO STOCK EXCHANGE AND ANNOUNCES CORPORATE UPDATE

IsoEnergy Ltd. has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and to list its common shares on the TSX.

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

Shareholders are not required to exchange their share certificates or direct registration system advices, or take any other action in connection with the listing on the TSX, as there will be no change in the trading symbol or CUSIP for the Common Shares.

Corporate Update

The Company is also pleased to announce that, effective June 20, 2024, the Company filed articles of continuance to continue from the Province of British Columbia into the Province of Ontario. Shareholders of the Company approved the continuance at the Company's annual general and special meeting of shareholders held on May 22, 2024. Shareholders are not required to take any action in connection with the continuance.

As previously announced on June 4, 2024, the Company has entered into a definitive agreement in connection with the proposed acquisition of the Bulyea River project (the "Project") located on the northern edge of the Athabasca Basin (the "Bulyea River Acquisition"). The Project is host to very high uranium in lake sediment within a strong airborne radiometric anomaly and represents a shallow basement-hosted target.

Pursuant to an agreement dated May 29, 2024, IsoEnergy has agreed to acquire all of the outstanding shares of 2596190 Alberta Ltd., a wholly-owned subsidiary of Critical Path Minerals Corp (the "Vendor") which holds a 100% interest in the ~13,000 hectare Project for consideration comprised of:

On closing, C$150,000 in cash;

On or before the 1st anniversary of closing, C$200,000 in cash or Common Shares or a combination thereof at the election of the Company;

On or before the 2nd anniversary of closing, C$300,000 in cash or Common Shares or a combination thereof at the election of the Company;

On or before the 3rd anniversary of closing, C$350,000 in cash or Common Shares or a combination thereof at the election of the Company;

Minimum expenditures of C$2.0 million to be incurred within 36 months of closing;

Within 30 days after a published technical report containing a current mineral resource estimate on the Project, C$1.0 million payable in cash or Common Shares or a combination thereof at the election of the Company; and

A 2% net smelter returns royalty payable by the Company to the Vendor with respect to production from the Project. IsoEnergy has the right to repurchase 1% of the royalty by paying the amount of C$1.0 million in cash.

The agreement includes provision for the return of the Project to the Vendor in the event that the Company does not make the anniversary payments as described above.

Closing of the Bulyea River Acquisition is subject to satisfaction of certain customary closing conditions including, among other things, approval of the TSXV. Any Common Shares issuable pursuant to the Bulyea River Acquisition will be subject to a hold period expiring four months and one day from the date of issuance. There are no finders' fees payable in connection with the acquisition and Critical Path Minerals Corp., and 2596190 Alberta Ltd. are arms-length parties with respect to the Company.

About IsoEnergy Ltd.

IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S., Australia, and Argentina at varying stages of development, providing near, medium, and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East Project in Canada's Athabasca Basin, which is home to the Hurricane deposit, boasting the world's highest grade Indicated uranium Mineral Resource.

IsoEnergy also holds a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels Inc. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

We seek Safe Harbor.