Mr. Esen Boldkhuu reports

ISOENERGY TO BECOME STRATEGIC SHAREHOLDER OF URANIUMX AS COMPANY AGREES TO ACQUIRE DIETER LAKE URANIUM PROJECT

UraniumX Discovery Corp. has entered into a definitive asset purchase agreement dated July 9, 2026, with Consolidated Uranium Inc., a wholly owned subsidiary of IsoEnergy Ltd., to acquire a 100-per-cent interest in the Dieter Lake uranium project in north-central Quebec. In exchange for its entire interest in the property, Consolidated Uranium will receive 18 million common shares of UraniumX, issued at a deemed price of 10 cents per share, and a 2.0-per-cent net smelter return royalty on the property. On closing, IsoEnergy, through Consolidated Uranium, is expected to hold approximately 15.6 per cent of UraniumX on a non-diluted basis (on a posttransaction basis), becoming one of the company's largest shareholders, with the right to nominate one director to the UraniumX board of directors.

Transaction highlights:

• A strategic endorsement from a uranium leader: IsoEnergy, a leading uranium developer and owner of the Hurricane deposit, which it describes as the world's highest-grade published indicated uranium mineral resource, is taking a significant strategic equity position in UraniumX. On closing of the transaction, IsoEnergy will become one of UraniumX's largest shareholders, indirectly through Consolidated Uranium, at approximately 15.6 per cent, with board nomination, participation and top-up rights. In IsoEnergy, UraniumX gains a partner positioned for near-term uranium production.
• A 24.4-million-pound historical estimate, acquired for no cash: Dieter Lake hosts a historical estimate of 19.3 million tonnes at 0.057 per cent U3O8 (triuranium octoxide), containing approximately 24.4 million pounds U3O8 (see cautionary statements below). The consideration consists entirely of shares and a 2.0-per-cent NSR royalty.
• A second Canadian uranium jurisdiction, open for growth: Dieter Lake will add 168 claims over approximately 8,106 hectares in north-central Quebec, where uranium mineral exploration is permitted, alongside UraniumX's Athabasca basin ground in Saskatchewan. Mineralization is traced over approximately six kilometres of strike, open to the southwest, with additional targets generated by a 2025 helicopter-borne magnetic survey and a 2023 alteration mineral study; the majority of the property has seen little or no modern drilling.

Esen Boldkhuu, chief executive officer of UraniumX, commented: "Dieter Lake will hand our shareholders a project with a historical estimate of 24.4 million pounds of U3O8, in a mineralized horizon that is still open, on ground that has seen little or no modern drilling. Just as important is who we are acquiring it from: IsoEnergy is becoming a long-term strategic shareholder of UraniumX. On closing, UraniumX becomes a multijurisdiction Canadian uranium company, and we intend to reward that conviction."

IsoEnergy has current and historical uranium mineral resources across three Tier 1 jurisdictions. Its flagship Hurricane deposit hosts the world's highest-grade published indicated uranium mineral resource -- 48.6 million pounds U3O8 at an average grade of 34.5 per cent U3O8 -- and its permitted, past-producing Utah mines are on standby for restart under a toll milling arrangement with Energy Fuels, positioning IsoEnergy as a near-term uranium producer.

The company believes that the transaction aligns the company with an established Athabasca basin operator, whose ground sits in the same district as UraniumX's Murphy Lake and Zoo Bay properties.

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 published indicated uranium mineral resource. Hurricane hosts an indicated mineral resource of 48.6 million pounds U3O8 at an average grade of 34.5 per cent U3O8, with a further 2.7 million pounds inferred, as disclosed by IsoEnergy.

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. In June, 2026, IsoEnergy completed its acquisition of Toro Energy Ltd., adding the Wiluna uranium project in Western Australia and expanding its development pipeline across three countries.

The Hurricane deposit is a property of IsoEnergy and is not owned by UraniumX. UraniumX's qualified person has not verified, and the company is not treating as its own, the mineral resource information disclosed by IsoEnergy in respect of the Hurricane deposit or any of IsoEnergy's other properties, and that information is not necessarily indicative of mineralization on any UraniumX property.

The Dieter Lake property and historical estimate

Dieter Lake is located in north-central Quebec, within the Gayot Lake basin, and comprises 168 map-designated mineral claims covering approximately 8,106 hectares as a single contiguous block. Uranium mineralization occurs as fine-grained pitchblende within a stratabound shale-wacke horizon of the Sakami formation, traced over approximately six kilometres of strike in four zones (Vivian, Nancy I and II, and Bert's) that remain open to the southwest. The property hosts a historical mineral resource estimate of 19.3 million tonnes at an average grade of 0.057 per cent U3O8, containing approximately 24.4 million pounds U3O8.

The historical estimate is dated 2006 and was reported by Fission Energy Corp. in a technical report entitled "Technical Report on the Dieter Lake Property, Quebec, Canada," dated Oct. 7, 2011. The historical estimate was prepared by Davis & Guo using the Thiessen (Voronoi) polygon method, applying data constraints of 200 arts pper million, 500 ppm and 1,000 ppm U3O8 over a minimum thickness of one metre, polygons with radii of 200 metres and a rock density of 2.67 grams per cubic centimetre. The reported tonnage, grade and contained metal are as disclosed in the 2011 technical report. The historical estimate was not prepared in accordance with, and does not use, the mineral resource categories set out in the CIM (Canadian Institute of Mining, Metallurgy and Petroleum) Definition Standards (2014); no current resource category applies. The company considers the historical estimate relevant as an indication of the scale of the uranium mineralization identified to date on the property and considers it reliable in that it was prepared by professional geologists using methods standard at the time and was reported in a technical report prepared for a reporting issuer.

Verification of the historical estimate as a current mineral resource would require, among other things, data verification and confirmation drilling, including twinning of historical drill holes, and the preparation of a new technical report under NI 43-101. More recent exploration data available to the company comprise the 2025 helicopter-borne magnetic survey and the 2023 alteration mineral study described above. An updated NI 43-101 technical report for the property is being prepared by Dahrouge Geological Consulting Ltd., and the company expects to provide a further update in due course. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource, and UraniumX is not treating the historical estimate as a current mineral resource.

Growth strategy at Dieter Lake

The company's objective is to advance Dieter Lake toward a current mineral resource estimate. The company intends to undertake compilation and verification of the historical drill database and confirmation drilling of selected historical holes.

Expansion potential exists on several fronts. The mineralized horizon is traced over approximately six kilometres through four zones (Vivian, Nancy I and II, and Bert's) and remains open to the southwest. A 2025 helicopter-borne magnetic survey and the 2023 alteration mineral study generated additional untested targets on the property. The majority of the 8,106-hectare property has seen little or no modern drilling. Within the historical model, higher cut-off grades defined higher-grade subsets -- approximately 6.8 million tonnes at 0.108 per cent U3O8 at a 500-part-per-million cut-off, as reported in the 2011 technical report -- subject to the same cautionary statements as the historical estimate. There is no assurance that exploration will result in a current mineral resource.

Transaction terms

The consideration consists of 18 million consideration shares, issued at a deemed price of 10 cents per share, and a 2.0-per-cent NSR royalty payable on all production from the property in favour of Consolidated Uranium. No cash consideration is payable. The consideration shares will be subject to a statutory four-month-and-one-day hold and a voluntary lock-up releasing 25 per cent on each of the four-, eight-, 12- and 16-month anniversaries of closing.

UraniumX and Consolidated Uranium will enter into an investor rights agreement, under which Consolidated Uranium will have the right to nominate one director to the board for so long as it maintains a 5.0-per-cent ownership interest, and a participation right and top-up rights to maintain its pro rata ownership in future equity issuances, on customary terms. Upon closing, IsoEnergy (together with Consolidated Uranium) will be an insider of the company. The agreement was negotiated at arm's length, no party was a related party of the other at the time it was entered into, and no finders' fees are payable.

The transaction is subject to customary closing conditions, including receipt of all required regulatory approvals, delivery of customary closing deliverables, and the accuracy of representations and warranties at closing. Closing is expected in the third quarter of 2026.

Qualified person

Ken Wheatley, PGeo, a consultant of the company and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical information in this news release. The qualified person has not verified the data underlying the historical estimate, and the company is not treating the historical estimate as a current mineral resource.

About UraniumX Discovery Corp.

UraniumX Discovery is a Canadian-based uranium exploration and development company. Its flagship Murphy Lake uranium property is in the northeastern Athabasca basin in Saskatchewan, where UraniumX is earning up to a 70-per-cent interest through an option agreement with F4 Uranium Corp. The company also holds a 100-per-cent interest in the Zoo Bay uranium property in the Athabasca basin. Upon completion of the Dieter Lake transaction, UraniumX will hold uranium projects in both Saskatchewan and Quebec.

We seek Safe Harbor.