Mr. Steve Blower reports

ISOENERGY RECEIVES DRILLING PERMITS AND FINALIZES PLANS TO EXTEND URANIUM MINERALIZATION AT THE HURRICANE ZONE, ATHABASCA BASIN, SASKATCHEWAN

IsoEnergy Ltd. is now in receipt of all required permits for its planned drilling program designed to extend the high-grade uranium mineralization intersected in previously reported drill hole LE18-01A -- the Hurricane zone.

Planned drilling program highlights

• The follow-up drill program is planned to begin in early January, is fully financed and consists of 4,500 metres of drilling in 10 drill holes.
• Initial drill holes will be 12.5-metre stepouts on section with drill hole LE18-01A.
• Subsequent drill holes will step out along strike 25 to 50 metres in both directions.

The discovery drill hole LE18-01A was completed on the 100-per-cent-owned Larocque East property in the Eastern Athabasca basin, Saskatchewan, in July. A broad 8.5-metre-long interval of elevated radioactivity (see news release dated July 25, 2018) averages 1.26 per cent triuranium octoxide (U3O8) (above a cut-off of 0.1 per cent U3O8) and includes a zone of off-scale radioactivity (greater than 15,000 counts per second on an SRAT SPP2 scintillometer) that averages 6.45 per cent U3O8 over 1.0 metre. An image on the company's website shows the location of the Larocque East property and the Hurricane zone.

Steve Blower, vice-president, exploration, commented: "The geology and geochemistry at the Hurricane zone suggest that the mineralization intersected in drill hole LE18-01A may extend in several directions. Our approach to the follow-up drilling scheduled for January, 2019, will be thorough and systematic to ensure that we understand the controls on mineralization and maximize our chance of success."

Planned drilling program

Drilling is planned to commence in January, 2019, after freeze-up in the Athabasca basin allows ground access to the property. Initial drill holes will determine the nature and extent of the zone on the LE18-01A cross-section, with holes drilled both to the northwest and southeast of drill hole LE18-01A. Drill hole spacing on the section is expected to be approximately 12.5 metres and is shown on the cross-section in an image on the company's website. Some of the on-section follow-up drill holes will be allowed to penetrate deep into the basement below LE18-01A to explore for basement-hosted uranium mineralization. Once the dimensions and the geology on the LE18-01A cross-section are fully understood, subsequent drill holes will step out along strike of the Hurricane zone in both directions. The expected stepout distance along strike is 25 to 50 metres, depending on the results from the initial drill holes. All permits from the Saskatchewan Ministry of Environment required for the drilling program are now in hand.

The Hurricane zone

Mineralization at the Hurricane zone lies beneath 40 metres of overburden and 285 metres of Athabasca sandstone. Basement rocks are dominated by pelitic gneisses that are commonly highly graphitic. Drill hole LE18-01A intersected an 8.5-metre-long interval of uranium mineralization that straddles the sub-Athabasca unconformity and consists of fracture-controlled and -disseminated pitchblende with hematite and clay from 338.5 to 347.0 metres (downhole length).

The property

Larocque East consists of six mineral claims totalling 3,200 hectares and was recently purchased in May, 2018. The property is owned 100 per cent by IsoEnergy and is not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy's recently expanded Geiger property and is 35 kilometres northwest of Orano Canada's McClean Lake uranium mine and mill.

The property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system, a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization in several occurrences to the southwest of the Larocque East property. The closest of these are the Larocque Lake and Larocque North zones, which are located 6.5 kilometres and 0.4 kilometre, respectively, to the southwest of the western Larocque East property boundary. Drilling at the Larocque Lake zone has returned intersections of up to 29.9 per cent U3O8 over 7.0 metres in drill hole Q22-040. The Larocque East property is located adjacent to the Wollaston-Mudjatik transition zone -- a major crustal suture related to most of the major uranium deposits in the eastern Athabasca basin. Importantly, the vertical distance from surface to the unconformity is short, ranging between 140 metres and 330 metres in previous drilling. A total of 23 historical drill holes have been completed on the property along approximately 22 kilometres of graphitic conductors.

Qualified person statement

The scientific and technical information contained in this news release was prepared by Steve Blower, PGeo, IsoEnergy's vice-president, exploration, who is a qualified person (as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). Mr. Blower has verified the data disclosed. This news release refers to properties other than those in which the company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the company's properties. As drill hole LE18-01A was drilled steeply at minus 70 degrees and the mineralization is interpreted to be horizontal, the true thickness is expected to be approximately 90 per cent of the cored intervals. Sample preparation and analyses were completed at SRC Geoanalytical Laboratories in Saskatoon, Sask. Uranium assays at SRC are by inductively coupled plasma -- optical emission spectroscopy (ICP-OES) and quality is controlled through the inclusion of internal duplicates, blanks and standards.

About IsoEnergy Ltd.

IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca basin in Saskatchewan, Canada, and a historical inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut. IsoEnergy is led by a board and management team with a record of success in uranium exploration, development and operations. The company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

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