Mr. Philip Williams reports

ISOENERGY COMPLETES BOUGHT DEAL FINANCING

IsoEnergy Ltd. has closed its previously announced bought deal financing, pursuant to which the company sold 5,121,500 common shares of the company at a price of $10 per common share for gross proceeds of $51,215,000, which includes the partial exercise of the overallotment option. The offering was conducted by a syndicate of underwriters, led by Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp.

The proceeds from the offering are expected to be used to finance the continued development and further exploration of the company's mineral properties, and for general corporate purposes.

NexGen Energy Ltd., an existing insider of the company, purchased 1.2 million common shares in the offering at the offering price. After giving effect to the offering, NexGen is expected to own approximately 30.9 per cent of the issued and outstanding common shares. No commission or other fee is payable to the underwriters in connection with the sale of common shares to NexGen.

NexGen's participation in the offering constitutes a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirement to obtain a formal valuation or minority shareholder approval in connection with the offering under MI 61-101 in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 due to the fair market value of the offering being below 25 per cent of the company's market capitalization for purposes of MI 61-101. The company was not able to file a material change report 21 days prior to the closing date of the offering as a result of the closing date. The offering was approved by the board of directors of the company with each of Leigh Curyer, Richard Patricio and Christopher McFadden having disclosed his interest in the offering and abstaining from voting in respect thereof. The company has not received, nor has it requested, a valuation of its securities or the subject matter of the offering in the 24 months prior to the date hereof.

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

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