Mr. Philip Williams of IsoEnergy reports

ISOENERGY ANNOUNCES THE SETTLEMENT OF A PORTION OF INTEREST PAYMENT IN SHARES

IsoEnergy Ltd. has agreed to settle a portion of the interest payments due to Queen's Road Capital Investment Ltd. as at June 30, 2024, in common shares of the company.

Pursuant to the unsecured convertible debenture dated Aug. 18, 2020, between Queen's Road Capital and the company, as at June 30, 2024, the company will owe Queen's Road Capital interest in the amount of $255,000 (U.S.), of which $74,998.56 (U.S.) will be settled with the issuance of 24,752 shares at a deemed price of $3.03 (U.S.) per share. Pursuant to the unsecured convertible debenture dated Dec. 6, 2022, between Queen's Road Capital and the company, as at June 30, 2024, the company will owe Queen's Road Capital interest in the amount of $200,000 (U.S.), of which $49,998.03 (U.S.) will be settled with the issuance of 16,501 shares at a deemed price of $3.03 (U.S.) per share.

Under the terms of both the 2020 Queen's Road Capital debenture and the 2022 Queen's Road Capital debenture, the portion of the interest payable to Queen's Road Capital equal to 2.5 per cent per annum is payable in shares at a price per share equal to the volume-weighted average trading price per share on the TSX Venture Exchange for the 20 consecutive trading days ending three trading days prior to the date such interest is due. The portion of the interest payable to Queen's Road Capital on the 2020 Queen's Road Capital debenture and the 2022 Queen's Road Capital debenture equal to 6 per cent and 7.5 per cent per annum, respectively, is payable in cash. The issuance of the shares to Queen's Road Capital is subject to TSX-V approval.

About IsoEnergy Ltd.

IsoEnergy is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the United States, Australia and Argentina at varying stages of development, providing near-term, medium-term 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 standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

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