Mr. Tim Gabruch 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. (QRC) as at June 30, 2023, in common shares.

Pursuant to the unsecured convertible debenture dated Aug. 18, 2020, between QRC and the company, as at June 30, 2023, the company will owe QRC interest in the amount of $255,000 (U.S.) of which $74,999.52 (U.S.) will be settled with the issuance of 34,722 common shares of the company, at a deemed price of $2.16 (U.S.). Pursuant to the unsecured convertible debenture dated Dec. 6, 2022, between QRC and the company, as at June 30, 2023, the company will owe QRC interest in the amount of $200,000 (U.S.) of which $49,999.68 (U.S.) will be settled with the issuance of 23,148 common shares of the company, at a deemed price of $2.16 (U.S.).

Under the terms of both the 2020 QRC debenture and the 2022 QRC debenture, the portion of the interest payable to QRC 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 QRC on the 2020 QRC debenture and the 2022 QRC debenture equal to 6.0 per cent and 7.5 per cent per annum, respectively, is payable in cash. The issuance of the shares to QRC is subject to TSX Venture Exchange acceptance.

About IsoEnergy Ltd.

IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the infrastructure-rich eastern Athabasca basin in Saskatchewan, Canada. In 2018, the company discovered the high-grade Hurricane deposit on its 100-per-cent-owned Larocque East property in the Eastern Athabasca basin. The Hurricane deposit has indicated mineral resources of 48.61 million pounds of triuranium octoxide based on 63,800 tonnes grading 34.5 per cent U3O8 and inferred mineral resources of 2.66 million lb U3O8 based on 54,300 tonnes grading 2.2 per cent U3O8 (July 8, 2022). The Hurricane deposit is 100 per cent owned by IsoEnergy and is unencumbered from any royalties. 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.