Mr. Craig Parry reports

ISOENERGY INTERSECTS 7.5M OF 22.7% U3O8 IN DRILL HOLE LE20-52 INCLUDING 2.5M OF 67.2% U3O8

IsoEnergy Ltd. has released final assay results from the winter 2020 drilling program at the Hurricane zone. Discovered in 2018 at the Larocque East property, the Hurricane zone is a recent discovery of high-grade uranium mineralization. Larocque East is 100 per cent owned by IsoEnergy and is located in the prolific Eastern Athabasca basin of Saskatchewan.

Winter drilling selected highlights:

• Drill hole LE20-52 assays averaged 22.7 per cent triuranium octoxide over 7.5 m from 318.5 m to 326 m, including 67.2 per cent triuranium octoxide over 2.5 m from 322.5 m to 325 m.
• Drill hole LE20-53 assays averaged 11.7 per cent triuranium octoxide over 10.5 m from 317.5 m to 328 m, including 40.4 per cent triuranium octoxide over three m from 324.5 m to 327.5 m.
• Drill hole LE20-51 assays averaged 14.5 per cent triuranium octoxide and 3.5 per cent nickel over 7.5 m from 322.5 m to 330 m (previously released assay results).
• Drill hole LE20-40 assays averaged 20.5 per cent triuranium octoxide over four m from 322.5 m to 326.5 m (previously released assay results).
• Drill hole LE20-34 assays averaged 33.9 per cent triuranium octoxide over 8.5 m from 326 m to 334.5 m, including five m averaging 57.1 per cent triuranium octoxide from 328 m to 333 m (previously released assay results).
• Drill hole LE20-32A assays averaged 19.6 per cent triuranium octoxide over 8.5 m from 329.5 m to 338 m, including 2.5 m of 63.6 per cent triuranium octoxide from 334.5 m to 337 m (previously released assay results).

Craig Parry, chief executive officer, commented: "I'd like to congratulate our technical team on these latest results and on the highly successful winter drilling program. Drilling has continued to deliver long intervals of high-grade pitchblende uranium mineralization, confirming Hurricane as major discovery. It is worth noting that the Hurricane deposit is in an exceptional location in the Eastern Athabasca, close to key infrastructure and only 40 kilometres from Orano's McLean Lake mill. These latest results from our winter program come at a crucial time for the uranium exploration and mining sector. In recent days, we have seen the major producers announce extended closures of their mines and mills, which we estimate has reduced global uranium production volumes by over 50 per cent. Already, we have seen the uranium spot price rise over 30 per cent from $24 per pound three weeks ago to $31.50 per pound today, breaking the important psychological barrier of $30 per pound in the process. This rise has occurred without the full impact of physical product being removed from the market, and when these announced supply cuts take full effect in coming weeks, we expect to see further upward pressure on prices. Against this backdrop, IsoEnergy remains well positioned with $3.5-million in cash, and we look forward to reporting on plans for further drilling at our high-grade Hurricane discovery."

Steve Blower, vice-president of exploration, commented: "The last two drill holes of the campaign have returned very high-grade uranium assays over long intervals. The southernmost drill holes on all five sections in the western end of the Hurricane zone are now all strongly mineralized. Clearly, there is room for expansion of this very high-grade area within the larger Hurricane zone footprint, which now measures 575 m long, up to 40 m wide and up to 11 m thick."

Investor conference call and webcast

The company will host a conference call on April 15, 2020, at 11 a.m. PT (2 p.m. ET) to: give a corporate presentation; discuss the winter drilling program; and host a question-and-answer session for investors and other interested parties.

Details of the call

Participant toll-free dial-in number:  844-618-5255

The presentation to be covered on the call can also be found on the company's website.

Final assays received

Drill hole LE20-52 (Hurricane Section 4435E)

Drill hole LE20-52 was designed to evaluate the potential for additional high-grade mineralization to the south of drill holes LE20-40 and LE20-34. It successfully intersected a thick interval of strong uranium mineralization at the sub-Athabasca unconformity that averages 22.7 per cent U3O8 over 7.5 m from 318.5 m to 326 m. The interval includes a very high-grade section that averages 67.2 per cent U3O8 over 2.5 m from 322.5 m to 325 m. Within the very high-grade section is a subinterval of continuous off-scale mineralization that averages 79.9 per cent U3O8 over 1.5 m from 322.5 m to 324 m.

Drill hole LE20-53 (Hurricane Section 4410E)

Drill hole LE20-53 was completed 25 m along strike to the west of drill hole LE20-52. It successfully intersected 10.5 m of strong uranium mineralization at the sub-Athabasca unconformity from 317.5 m to 328 m that averages 11.7 per cent U3O8. The intersection includes a three m subinterval of very strong uranium mineralization that averages 40.4 per cent U3O8 from 324.5 m to 327.5 m. Within the very high-grade section is a subinterval of off-scale mineralization that averages 62.7 per cent U3O8 over 0.5 m from 326 m to 326.5 m.

Next steps

All assays from the 2020 winter drilling program at the Hurricane zone have now been received. Data compilation and interpretation of the drilling results are well under way, as is planning for a summer drilling program that will continue to define the extent of the Hurricane zone. The timing and amount of summer drilling may be impacted by the COVID-19 pandemic. The company continues to monitor the situation and will make decisions regarding future work programs in due course.

The Larocque East property and the Hurricane zone

The 100-per-cent-owned Larocque East property consists of 20 mineral claims totalling 8,371 hectares and is not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy's Geiger property and is 35 kilometres northwest of Orano Canada's McLean Lake uranium mine and mill.

Along with other target areas, the property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp. and Orano Canada Inc.'s neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July, 2018, and was followed up with 29 drill holes in 2019 and an additional 14 drill holes to date in 2020. Dimensions are currently 575 m along strike, 40 m wide and up to 11 m thick. The zone is open for expansion along strike to the east and on most sections. Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface. The best intersection to date is 33.9 per cent U3O8 over 8.5 m in drill hole LE20-34. Drilling at Cameco Corp.'s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9 per cent U3O8 over seven m in drill hole Q22-040. Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone -- a major crustal suture related to most of the uranium deposits in the Eastern Athabasca basin. Importantly, the sandstone cover on the property is thin, ranging between 140 m and 330 m in previous drilling.

Qualified person statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, PGeo, IsoEnergy's senior geologist, who is a qualified person (as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). Mr. Carmichael has verified the data disclosed. All radioactivity measurements reported herein are total gamma from an RS-125 hand-held spectrometer. As mineralized drill holes at the Hurricane zone are oriented very steeply (minus 80 degrees to minus 90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90 per cent of the core lengths. This news release refers to properties other than those in which the company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the company's properties. All chemical analyses are completed for the company by SRC Geoanalytical Laboratories in Saskatoon, Sask. For additional information regarding the company's Larocque East project, including its quality assurance and quality control procedures, please see the technical report dated effective May 15, 2019, under the company's profile on SEDAR.

About IsoEnergy Ltd.

IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the Eastern Athabasca basin in Saskatchewan, Canada. The company recently discovered the high-grade Hurricane zone of uranium mineralization on its 100-per-cent-owned Larocque East property in the Eastern Athabasca basin. IsoEnergy is led by a board and management team with a record of success in uranium exploration, development and operations.

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