Mr. Philip Williams reports

ISOENERGY LTD. ANNOUNCES FILING OF PROSPECTUS SUPPLEMENT FOR UPSIZED PROSPECTUS OFFERING OF COMMON SHARES

IsoEnergy Ltd., further to its news releases dated Feb. 13, 2025, has filed a prospectus supplement to its short form base shelf prospectus filed on Sept. 5, 2024, with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec, to qualify the distribution of 4,642,000 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 (the PFT shares) at a price of $3.75 per PFT share for gross proceeds of approximately $17.4-million.

Access to the prospectus supplement, the corresponding shelf prospectus and any amendment thereto in connection with the offering is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment thereto. The shelf prospectus and the prospectus supplement are accessible on SEDAR+ under IsoEnergy's issuer profile.

An electronic or paper copy of the prospectus supplement, the corresponding shelf prospectus and any amendment thereto may be obtained, without charge, from ProspectusCanada@stifel.com by providing the contact with an e-mail address or address, as applicable. The shelf prospectus and prospectus supplement contain important, detailed information about the company, the offering and the PFT shares. Prospective investors should read the shelf prospectus and prospectus supplement before making an investment decision.

Concurrently with the offering, the company intends to complete a non-brokered private placement of 2.5 million common shares (which for greater certainty will not quality as flow-through shares) at a price of $2.50 per share with NexGen Energy Ltd. for aggregate gross proceeds of $6.25-million. The concurrent private placement is being completed to enable NexGen to maintain its pro rata ownership interest in the company at approximately 31.8 per cent after giving effect to the offering. The shares to be issued pursuant to the concurrent private placement will be subject to a restricted hold period of four months and one day following the closing of the concurrent private placement. No commission or other fee is payable to the underwriters of the offering in connection with the sale of shares pursuant to the concurrent private placement. The net proceeds from the concurrent private placement are expected to be used for working capital purposes.

The offering and the concurrent private placement are scheduled to close on or about Feb. 28, 2025, and are 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 top uranium mining jurisdictions of Canada, the United States and Australia 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. 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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