Mr. Tim Gabruch reports

ISOENERGY ANNOUNCES CLOSING OF $36.6 MILLION PRIVATE PLACEMENT OF SUBSCRIPTION RECEIPTS

IsoEnergy Ltd. has completed its previously announced marketed private placement of subscription receipts of the company. The Company issued 8,134,500 Subscription Receipts at a price of $4.50 per Subscription Receipt for aggregate gross proceeds to the Company of $36,605,250. The Offering was led by cornerstone investors NexGen Energy Ltd., Mega Uranium Ltd. and Energy Fuels Inc., with an upsizing of the Offering led by Sachem Cove Partners LLC, and which included the partial exercise of the Agent's option.

The Offering was conducted by a syndicate of agents co-led by Canaccord Genuity Corp., TD Securities Inc. and Eight Capital, and including Haywood Securities Inc., Red Cloud Securities, Cormark Securities Inc., Paradigm Capital, PI Financial Corp., Raymond James Ltd. and SCP Resource Finance LP (collectively, the "Agents").

Each Subscription Receipt will entitle the holder thereof to receive, for no additional consideration and without further action on part of the holder thereof, one common share of IsoEnergy, on or about the date that IsoEnergy's previously announced share-for-share merger with Consolidated Uranium Inc. by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement") is completed.

The net proceeds of the Offering will be used for the Arrangement, exploration and development of the Company's uranium assets, as well as for working capital and general corporate purposes. The net proceeds of the Offering will be held in escrow pending satisfaction of the escrow release conditions, including the satisfaction of the conditions to the closing of the Arrangement and certain other customary conditions.

Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the Offering constitutes a "related party transaction" as NexGen Energy Ltd. ("NexGen") has subscribed for Subscription Receipts. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the Subscription Receipts subscribed for NexGen pursuant to the Offering does not exceed 25% of the Company's market capitalization.

In connection with the Offering, the Agents are entitled to a cash commission equal to 6.0% of the aggregate gross proceeds raised from the sale of Subscription Receipts (reduced to 3.0% or nil for subscriptions made by certain specified purchasers of Subscription Receipts, as agreed by the Agents and the Company). At closing of the Offering, the Agents received a cash commission of $293,257.13, representing 50% of the total cash commission payable. The balance of the Agents' cash commission shall be held in escrow pending satisfaction or waiver of the escrow release conditions and is payable upon satisfaction of such escrow release conditions.

The Subscription Receipts were offered by way of private placement pursuant to applicable exemptions from prospectus requirements in each of the provinces of Canada and in such other jurisdictions as may be mutually agreed between the Company and the Agents. The securities issued under the Offering are subject to a four month hold period under applicable Canadian securities laws.

Qualified Person Statement

The scientific and technical information contained in this news release with respect to IsoEnergy was prepared by Dr Darryl Clark, P.Geo., IsoEnergy Vice President, Exploration, who is a "Qualified Person" (as defined in NI 43-101 - Standards of Disclosure for Mineral Projects). Dr Clark has verified the data disclosed. For additional information regarding the Company's Larocque East Project, including its quality assurance, quality control procedures and other details of the mineral resource estimate contained herein, please see the Technical Report dated effective July 8, 2022, on the Company's profile on SEDAR+ at www.sedarplus.ca.

About IsoEnergy

IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) is a well-funded uranium exploration and development company with a portfolio of prospective projects in the infrastructure-rich eastern Athabasca Basin in Saskatchewan, Canada. In 2018, IsoEnergy discovered the high-grade Hurricane Deposit on its 100% owned Larocque East property in the eastern Athabasca Basin. The Hurricane Deposit has indicated mineral resources of 48.61 M lbs U3O8 based on 63,800 tonnes grading 34.5% U3O8 and inferred mineral resources of 2.66 M lbs U3O8 based on 54,300 tonnes grading 2.2% U3O8 (July 8, 2022). The Hurricane Deposit is 100% owned by IsoEnergy and is unencumbered from any royalties. IsoEnergy is led by a board and management team with a track record of success in uranium exploration, development, and operations. IsoEnergy was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

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