IsoEnergy (ISOU) Launches ATM Equity Program

IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) is pleased to announce that it has entered into an equity distribution agreement (the "Distribution Agreement") with Virtu Canada Corp. (the "Canadian Agent") and Virtu Americas LLC (together with the Canadian Agent, the "Agents"). Pursuant to the Distribution Agreement, the Company may distribute up to C$75,000,000 (or its equivalent in other currencies) of common shares in the capital of the Company (the "Common Shares"), from time to time through the Agents (the "ATM Program").

Philip Williams, CEO and Director of IsoEnergy, commented, "With our NYSE American listing completed on May 5, 2025, the launch of our ATM Program is both timely and aligned with practices across our peer group, many of whom have similar programs in place. Backed by a strong cash balance of C$46.1 million and marketable securities of C$35.1 million as of March 31, 2025, we believe that the Company is in a solid financial position to execute its 2025 work programs. We intend to use the ATM Program prudently, accessing it when market conditions and liquidity are favourable. Ultimately, it provides an additional financing tool, enhancing our financial flexibility moving forward."

Any Common Shares sold through the ATM Program will be sold (i) through ordinary brokers' transactions on the NYSE American LLC (the "NYSE American") or another U.S. "marketplace", as such term is defined in National Instrument 21-101 – Marketplace Operation ("NI 21-101"), (ii) through ordinary brokers' transactions on the Toronto Stock Exchange (the "TSX") that constitute "at-the-market distributions" as defined in National Instrument 44-102 – Shelf Distributions, (iii) on another Canadian "marketplace", as such term is defined in NI 21-101, upon which the Common Shares are listed, quoted or otherwise traded, or (iv) otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

The volume and timing of sales under the ATM Program, if any, will be determined at the Company's sole discretion and in accordance with the terms of the Distribution Agreement. The TSX has conditionally approved the listing of the Common Shares that may be issued under the ATM Program, and the Company has applied for authorization from the NYSE American for the listing of such Common Shares. The Company is not obligated to make any sales of Common Shares under the ATM Program. The ATM Program will be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program and the date that the ATM Program is otherwise terminated pursuant to the terms of the Distribution Agreement.

The Company intends to use the net proceeds from the ATM Program, if any, for general corporate purposes, which may include funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness, technical studies and exploration in the United States and Australia and additions to working capital.

The ATM Program is being established pursuant to a prospectus supplement dated May 30, 2025 (the "Canadian Prospectus Supplement") to the Company's short form base shelf prospectus dated September 5, 2024, as amended on May 8, 2025 (the "Base Shelf Prospectus"), as filed with the securities regulatory authorities in each of the provinces and territories of Canada, and pursuant to a prospectus supplement dated May 30, 2025 (the "U.S. Prospectus Supplement") to the Company's U.S. base prospectus included in its registration statement on Form F-10 (the "Registration Statement") and filed with the U.S. Securities and Exchange Commission (the "SEC") on May 13, 2025.

The Company has filed the Registration Statement (including the U.S. base shelf prospectus) and the U.S. Prospectus Supplement to which this communication relates with the SEC. Before you invest, you should read the Registration Statement, the U.S. Prospectus Supplement and other documents the issuer has filed with the SEC, as well as the corresponding documents filed in Canada, for more complete information about the Company and this offering. The Canadian Prospectus Supplement and Base Shelf Prospectus may be downloaded for free from SEDAR+ at www.sedarplus.ca, and the U.S. Prospectus Supplement and the Registration Statement are accessible for free via EDGAR on the SEC website at www.sec.gov. Alternatively, the Company will send you copies of such documents upon request made to the Company contact provided below, and the Agents will send copies of such documents to investors upon request by contacting Virtu Canada Corp. at 1720 – 222 Bay Street, Toronto, ON M5K 1B7, by email at [email protected], or by telephone at (646) 682-6322 or by contacting Virtu Americas LLC at 41^st Floor – 1633 Broadway, New York, NY 10019 United States, by email at [email protected], or by telephone at (646) 682-6322.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any province, territory, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, territory, state or jurisdiction. No securities regulatory authority has either approved or disapproved of the contents of this press release.

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