Mr. Philip Williams of IsoEnergy reports

ISOENERGY ANNOUNCES THE SETTLEMENT OF A PORTION OF INTEREST PAYMENT IN SHARES AND OPTION GRANT

IsoEnergy Ltd. has agreed to settle a portion of the interest payments due to Queen's Road Capital Investment Ltd. as at Dec. 31, 2023, in common shares.

Pursuant to the unsecured convertible debenture dated Aug. 18, 2020, between Queen's Road and the company, as at Dec. 31, 2023, the company will owe Queen's Road interest in the amount of $255,000 (U.S.) of which $74,998.84 (U.S.) will be settled with the issuance of 26,978 common shares of the company, at a deemed price of $2.78 (U.S.). Pursuant to the unsecured convertible debenture dated Dec. 6, 2022, between Queen's Road and the company, as at Dec. 31, 2023, the company will owe Queen's Road interest in the amount of $200,000 (U.S.) of which $49,998.30 (U.S.) will be settled with the issuance of 17,985 shares, at a deemed price of $2.78 (U.S.).

Under the terms of both the 2020 Queen's Road debenture and the 2022 Queen's Road debenture, the portion of the interest payable to Queen's Road 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 Queen's Road on the 2020 Queen's Road debenture and the 2022 Queen's Road debenture equal to 6 per cent and 7.5 per cent per annum, respectively, is payable in cash. The issuance of the shares to Queen's Road is subject to TSX-V acceptance.

IsoEnergy grants options

IsoEnergy has granted, subject to the approval of the TSX Venture Exchange, 525,000 incentive stock options to certain directors, officers, employees and consultants of IsoEnergy. The options were granted on Dec. 29, 2023, have a term of five years, vest in three annual instalments commencing on the grant date and are exercisable at a price of $3.55 per IsoEnergy share.

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, Australia and Argentina 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 Inc. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.