Mr. Philip Williams reports

ISOENERGY LTD. ANNOUNCES BOUGHT DEAL FINANCING

IsoEnergy Ltd. has entered into an agreement with a syndicate of underwriters led by Stifel Nicolaus Canada Inc., pursuant to which the underwriters have agreed to purchase, on a bought deal basis, four million common shares that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) and will be sold on a flow-through basis at a price of $3.75 per FT share for gross proceeds of $15-million.

The company has agreed to grant the underwriters an overallotment option to purchase up to an additional 600,000 FT shares at the offering price, exercisable, in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the closing of the offering, to cover overallotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional $2.25-million in gross proceeds will be raised pursuant to the offering and the aggregate gross proceeds of the offering will be $17.25-million.

The company will use an amount equal to the gross proceeds received by the company from the sale of the FT shares, pursuant to the provisions in the tax act, to incur or cause to be incurred eligible Canadian exploration expenses that qualify as flow-through critical-mineral mining expenditures, as both terms are defined in the tax act, related to the company's mineral projects located in Saskatchewan and Quebec on or before Dec. 31, 2026, and to renounce the qualifying expenditures (on a pro rata basis) in favour of the subscribers of the FT shares with an effective date of no later than Dec. 31, 2025. The proceeds from the offering are expected to be used for exploration across the company's uranium assets located in Saskatchewan and Quebec.

The FT shares will be offered by way of a prospectus supplement to be filed in all of the provinces and territories of Canada, except Quebec.

The offering is scheduled to close on or about Feb. 28, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including conditional approval from the Toronto Stock Exchange and the securities regulatory authorities.

About IsoEnergy Ltd.

IsoEnergy is a leading, globally diversified uranium company with substantial current and historical mineral resources in the top uranium mining jurisdictions of Canada, the United States and Australia 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. 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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