Mr. Craig Parry reports

ISOENERGY DRILLS 8.5M OF 3.2% U3O8 IN DRILL HOLE LE19-12, INCLUDING 1.0M OF 14.3% U3O8 AT THE HURRICANE ZONE

IsoEnergy Ltd. has released assay results for the last drill holes from the winter 2019 drilling program. Drill hole LE19-12 was collared 75 metres to the west of the discovery section and intersected 8.5 m of 3.2 per cent triuranium octoxide (U3O8), 2.1 per cent nickel and 0.2 per cent cobalt, including 1.0 m of 14.3 per cent U3O8 and 1.1 per cent Ni. The final drill hole of the program, LE19-13, was collared 75 m east of the discovery section and intersected 2.5 m of 0.6 per cent U3O8, 0.2 per cent Ni and 0.5 per cent Co, including 0.5 m of 1.6 per cent U3O8, 0.4 per cent Ni and 1.1 per cent Co.

Highlights:

• Drill hole LE19-12 intersected 8.5 m of 3.2 per cent U3O8, 2.1 per cent Ni and 0.2 per cent Co.
• The mineralization at Hurricane remains open along strike and on each section drilled to date.
• The company is fully financed for an aggressive follow-up drill campaign this summer.

The Hurricane zone is a new discovery of shallow (330 m below surface), high-grade uranium mineralization on the company's 100-per-cent-owned Larocque East property in the eastern Athabasca basin of Northern Saskatchewan. The company recently completed the first follow-up drilling program after the discovery intersection in July, 2018. Eleven of the 12 drill holes in the follow-up winter campaign intersected significant uranium mineralization. Hurricane now measures 150 m (long) by 38 m (wide) by up to 8.5 m thick. The zone is open on all five sections drilled to date and along strike in both directions. The company, having raised $5.5-million in December, 2018, remains fully financed for a follow-up drilling campaign that is planned for the summer.

Craig Parry, chief executive officer, commented: "I am impressed by the continued growth of our Hurricane discovery. The thicknesses and grades of these intercepts are consistent with other high-grade deposits in the eastern Athabasca basin. It is worth noting that Hurricane is in an excellent location, at a relatively shallow depth, not covered by any bodies of water and is within 40 km of the modern, high-grade McClean Lake uranium mill that currently has excess capacity. The team has done a tremendous job in making this discovery and advancing the project and are now eagerly preparing for our summer drill program. Given our strike rate to date -- 12 of the 13 holes we have drilled have hit mineralization -- and the nature and extent of the discovery, we are optimistic about being able to deliver more positive news flow in the coming months."

Steve Blower, vice-president, exploration, commented: "These 50 m stepout intersections confirm the substantial size of the Hurricane zone. We're about to kick off a program of ground DC-Resistivity geophysics that covers the Hurricane zone plus over five km of high-potential strike length extending to the east. These results will be used to help with targeting for a 14-hole, 6,000 m follow-up drilling campaign in the immediate Hurricane area planned for this summer and will also aid future exploration efforts further afield."

LE19-12

Vertical drill hole LE19-12 was drilled on Section 4485E, 75 m west of the discovery section and 76 m east of the property boundary. The drill hole intersected an 8.5 m interval of fracture-controlled, disseminated, replacement and breccia fill styles of pitchblende uranium mineralization that averages 3.2 per cent U3O8, 2.1 per cent Ni and 0.2 per cent Co. This long interval includes a 1.0 m section that averages 14.3 per cent U3O8 and 1.1 per cent Ni, plus another 0.5 m section that averages 12.8 per cent U3O8, 15.0 per cent Ni and 0.4 per cent Co. The results are summarized in the associated table.

LE19-13

Collared on Section 4635E, 75 metres east of the discovery section, drill hole LE19-13 is the farthest hole drilled to the east on the Hurricane zone. It intersected uranium mineralization 50 metres east of previously disclosed drill hole LE19-06. Extensive faulting in the basal sandstone suggests that the optimal location on this section was overshot. The main intersection consists of 2.5 m of fracture-controlled, disseminated and replacement styles of pitchblende uranium mineralization that averages 0.6 per cent U3O8. This includes a 0.5 m section that averages 1.6 per cent U3O8, as summarized in the associated table.

Next steps

A 53 line km ground DC (direct current) resistivity survey will begin shortly on the Larocque East property. The survey will cover the Hurricane zone area and approximately 5.5 km of highly prospective graphitic conductors that extend to the east of the zone. The results of the survey will be used to help target a planned follow-up drilling campaign in the immediate Hurricane zone area expected to begin in July, 2019.

Larocque East

Larocque East consists of six mineral claims totalling 3,200 hectares and was 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 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 at the Hurricane zone, and in several occurrences on a neighbouring property to the southwest of Larocque East. The closest of these to Larocque East 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 historical intersections of up to 29.9 per cent U3O8 over 7.0 metres in drill hole Q22-040. Drilling at the Larocque North zone has returned intersections of up to 2.05 per cent U3O8 over 0.6 metre in drill hole Q22-16. Like the nearby Geiger property, Larocque East 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 sandstone cover on Larocque East is thin, ranging between 140 metres and 330 metres in previous drilling.

In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Larocque East property to date, including drill hole KER-07 (0.12 per cent U3O8 over 0.1 metre), located 400 metres east of the discovery section.

            HURRICANE ZONE 2019 DRILLING RADIOACTIVE INTERVALS 
                                                                Chemical assays
Hole ID        From      To  Length       Radioactivity     U3O8      Ni     Co
                (m)     (m)     (m)       (1) (2) (cps)      (%)     (%)    (%)

                                           greater than
LE19-02 (3)   316.5   320.0     3.5               1,000      0.2     0.1    0.2
                                           greater than
and           326.5   330.0     3.5               1,000     10.4     0.8    0.0
                                           greater than
incl.         328.5   330.0     1.5              20,000     23.6     1.6    0.0
                                           greater than
incl.         329.0   329.5     0.5              50,000     38.2     1.5    0.1
                                           greater than
LE19-03 (3)   324.0   324.5     0.5               1,000      0.2     0.1    0.0
                                           greater than
and           326.5   329.5     3.0               1,000      2.7     2.3    0.0
                                           greater than
incl.         328.5   329.5     1.0               5,000      7.6     6.6    0.1
                                           greater than
incl.         329.0   329.5     0.5              20,000     13.3    11.8    0.1
                                           greater than
LE19-04 (3)   329.0   329.5     0.5               1,000      0.1     0.0    0.0
                                           greater than
              333.0   333.5     0.5               1,000      0.4     0.2    0.0
LE19-05 (3)                             no significantly elevated radioactivity
                                           greater than
LE19-06 (3)   328.0   330.0     2.0               1,000      0.4     0.1    0.1
                                           greater than
and           332.0   336.0     4.0               5,000      3.8     1.1    0.0
                                           greater than
incl.         333.5   335.5     2.0              10,000      5.5     0.7    0.0
                                           greater than
incl.         333.5   334.0     0.5              20,000     13.7     1.2    0.0
                                           greater than
LE19-07 (3)   325.0   331.0     6.0               1,000      0.4     0.8    1.4
                                           greater than
incl.         328.0   328.5     0.5               5,000      1.0     4.9    9.3
                                           greater than
LE19-08 (3)   326.5   327.0     0.5               1,000      0.4     0.1    0.1
                                           greater than
and           333.0   336.5     3.5               1,000      0.8     1.5    0.4
                                           greater than
incl.         335.5   336.0     0.5              10,000      3.7     8.3    1.3
                                           greater than
LE19-09 (3)   325.0   329.5     4.5               1,000      4.2     1.1    0.8
                                           greater than
incl.         327.0   329.0     2.0              20,000      6.8     1.9    1.3
                                           greater than
LE19-10 (3)   331.5   333.0     1.5               1,000      0.6     1.7    1.9
                                           greater than
LE19-11 (3)   333.0   333.5     0.5               5,000      2.1     0.1    0.1
                                           greater than
LE19-12 (4)   320.5   329.0     8.5               1,000      3.2     2.1    0.2
                                           greater than
incl.         326.0   327.0     1.0              20,000     14.3     1.1    0.0
                                           greater than
and incl.     328.5   329.0     0.5              20,000     12.8    15.0    0.4
                                           greater than
LE19-13 (4)   320.0   320.5     0.5               1,000      0.2     0.0    0.0
                                           greater than
and           321.5   324.0     2.5               1,000      0.6     0.2    0.5
                                           greater than
incl.         322.5   323.0     0.5              10,000      1.6     0.4    1.1

Notes
(1) Radioactivity is total gamma from drill core measured with an RS-125 
hand-held spectrometer.
(2) Measurements of total gamma cps on drill core are an indication of uranium 
content, but may not correlate with chemical assays.
(3) Radioactivity and chemical assays previously disclosed.
(4) Radioactivity previously disclosed.
 

Qualified person statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, PGeo, IsoEnergy's senior geologist, who is a qualified person (as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). Mr. Carmichael 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. An RS-125 hand-held spectrometer was used to verify that the radioactivity is due to uranium. As the drill holes reported herein are vertical or near vertical, and the mineralization is interpreted to be horizontal, the true thickness is expected to be within 90 per cent of the cored intervals.

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.

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