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IsoEnergy Announces the Settlement of a Portion of Interest Payment in Shares

Press Release

Saskatoon, SK and Toronto, ON – June 28, 2024 – IsoEnergy Ltd. (“IsoEnergy” or the “Company”) (TSXV: ISO; OTCQX: ISENF) has agreed to settle a portion of the interest payments due to Queen’s Road Capital Investment Ltd. (“QRC”) (TSXV: QRC) as at June 30, 2024 in common shares of the Company (“Shares”).

Pursuant to the unsecured convertible debenture dated August 18, 2020, between QRC and the Company (the “2020 QRC Debenture”), as at June 30, 2024, the Company will owe QRC interest in the amount of US$255,000, of which US$74,998.56 will be settled with the issuance of 24,752 Shares at a deemed price of US$3.03 per Share. Pursuant to the unsecured convertible debenture dated December 6, 2022 between QRC and the Company (the “2022 QRC Debenture”), as at June 30, 2024, the Company will owe QRC interest in the amount of US$200,000, of which US$49,998.03 will be settled with the issuance of 16,501 Shares at a deemed price of US$3.03 per Share.

Under the terms of both the 2020 QRC Debenture and the 2022 QRC Debenture, the portion of the interest payable to QRC equal to 2.5% 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 (“TSXV”) 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 QRC on the 2020 QRC Debenture and the 2022 QRC Debenture equal to 6.0% and 7.5% per annum, respectively, is payable in cash.  The issuance of the Shares to QRC is subject to TSXV approval.

About IsoEnergy

IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S., 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 stand-by, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

For More Information, Please Contact:

Philip Williams
CEO and Director
info@isoenergy.ca
1-833-572-2333
X: @IsoEnergyLtd
www.isoenergy.ca

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