Mr. Craig Parry reports

ISOENERGY STAKES SIX NEW URANIUM EXPLORATION PROPERTIES IN THE EASTERN ATHABASCA BASIN

IsoEnergy Ltd. has acquired through staking six new uranium exploration properties totalling over 57,000 hectares in the prolific eastern Athabasca basin of Saskatchewan. All of the new claims are 100 per cent owned by IsoEnergy.

New property summary:

1. Hawk: 6,000 hectares located 37 kilometres west of Larocque East, home of the Hurricane zone;
2. Clover: 24,000 hectares with over 40 km of electromagnetic (EM) geophysical conductors;
3. Tower: 6,300 hectares located 11 km southeast of the Cigar Lake uranium mine;
4. Trident: 9,500 hectares located along the eastern basin margin eight km south of the Rabbit Lake uranium mill;
5. Gemini: 5,800 hectares located along the eastern basin margin 60 km northeast of the Key Lake uranium mill;
6. Spruce: 6,000 hectares located along the southern basin margin immediately west of the Evergreen property.

With the addition of these newly staked properties, the company now has 21 uranium exploration properties in the eastern Athabasca basin. Including some recently staked extensions to existing properties, the total area of IsoEnergy's uranium exploration mineral tenure in the Athabasca basin is now 170,700 hectares. Historical work on all of the new claims, particularly airborne and ground geophysical surveys and core drilling, will be compiled and integrated with IsoEnergy's existing data sets. As the company's focus is currently the Hurricane zone, there is no plan to conduct fieldwork on any of these newly staked claims in 2020, and there is no regulatory requirement to do any fieldwork until 2022.

Steve Blower, vice-president of exploration, commented: "These properties have been on our radar for some time, and with the uranium price gaining momentum, we elected to secure the tenure now. Every one of these properties has good uranium exploration potential given the presence of drill-ready targets on conductive features and/or proximity to known deposits."

Hawk property

The 6,000-hectare Hawk property was staked to cover an area of low magnetic susceptibility (mag low), indicating the presence of prospective metasedimentary rocks in the basement. Within the mag low, there are over 16 km of northeast-southwest and east-west EM conductors that suggest the presence of favourably oriented graphitic gneisses. Only one historical drill hole has ever been completed on the property. Unconformity depth is expected to be 600 to 700 metres.

Clover property

A total of 24,000 hectares of new claims were staked to cover over 40 km of northeast-oriented EM conductors within mag lows at the Clover property. Despite the long strike length of conductive basement rocks, there are only three historical drill holes on this large property. Depth to the unconformity is expected to be 700 to 800 m.

Tower property

The Tower property is characterized by significant relief in regional airborne magnetic data sets, including the presence of northeast-oriented mag low anomalies. These features suggest a complex structural history, which is favourable for the formation of uranium deposits. Importantly, the property is located only 11 km southeast of the Cigar Lake uranium mine.

Trident property

Trident is located along Highway 905 along the eastern rim of the Athabasca basin, eight km south of the Rabbit Lake uranium mill. The claims were staked to cover four different trends of EM conductors, all of which are just outside the basin margin. Therefore, there is no sandstone cover on the Trident property, and the target will be basement-hosted uranium mineralization. Several mineral occurrences are documented, including a uraniferous boulder field that is partly on the property, plus an outcrop of unconformity-related pitchblende mineralization.

Gemini property

The Gemini property is also located along the eastern basin margin, 31 km southwest of the company's East Rim property, and 60 km northeast of the Key Lake uranium mill. The tenure was acquired to cover previously located EM conductors and a radioactive muskeg occurrence under very thin sandstone cover (zero to 100 m).

Spruce property

The Spruce property covers parts of three conductive trends immediately west of the Evergreen property. Like many of the company's new properties, sandstone cover is very thin (zero to 100 m), and there are known uranium and uranium pathfinder occurrences nearby.

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. 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.

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. The company was founded and is supported by the team of its major shareholder, NexGen Energy Ltd.

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