Purepoint and IsoEnergy Joint Venture Approves 2026 Program to Advance the Nova Discovery at the Dorado Project

London, Ontatio, October 28th, 2025, FinanceWire

Highlights:

• Over 20 years of global mining and exploration experience across multiple commodities.
• Lead Independent Director of Skeena Resources (CAD $2.8 Billion Market Cap) and Chair during its growth phase and acquisition of the Eskay Creek and Snip projects.
• Co-founder & Chairman of Vizsla Silver (CAD $2 Billion Market Cap)
• Founder and former CEO of IsoEnergy and Co-founder and former director of NexGen Energy, two of the most successful uranium companies of the past decade.
• Early career with Rio Tinto (2000-2008), gaining extensive technical and operational experience.
• Played key roles in several major discoveries, including:
• NexGen’s Arrow uranium deposit
• IsoEnergy’s Hurricane uranium deposit
• Vizsla’s Panuco-Copala silver district
• Tigers Realm’s Amaam and Amaam North coking coal deposits

London, Ontario–(October 28, 2025) – Abitibi Metals Corp. () (OTCQB:AMQFF) (FSE:FW0) (“Abitibi” or the “Company“) is pleased to announce the appointment of Mr. Craig Parry to the Company’s Advisory Committee.

Mr. Parry is a highly accomplished mining executive and geologist with a proven track record of founding, leading, and financing successful resource companies. He currently serves as Lead Director of Skeena Resources, Executive Chairman and CEO of Vizsla Copper, and Chairman of Vizsla Silver. Over his career, he has held key roles with IsoEnergy, NexGen Energy, EMR Capital, Tigers Realm Coal, and Rio Tinto. Mr. Parry has been instrumental in several major discoveries, including Vizsla’s Panuco-Copala silver veins, IsoEnergy’s Hurricane deposit, and NexGen’s Arrow deposit.

Under Mr. Parry’s leadership, Vizsla Silver has evolved into one of the top-performing silver developers in the Americas, successfully delineating a large high-grade silver-gold resource at its Panuco-Copala district in Mexico and delivering strong shareholder returns.

Mr. Parry graduated from The University of New South Wales and holds a Bachelor of Science (Applied Geology) with first class Honours and the University Medal.

About Abitibi Metals Corp:

Abitibi Metals Corp. is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi’s portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate1 of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf – 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones.

ON BEHALF OF THE BOARD

Jonathon Deluce, Chief Executive Officer

For more information, please call +1 226-271-5170, email info@abitibimetals.com, or visit https://www.abitibimetals.com.

The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:

Twitter: https://twitter.com/AbitibiMetals

LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada – Geostat., Effective Date: November 1, 2024, Date of Report: February 26, 2025

Forward-looking statement:

This news release contains certain statements, which may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company’s behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi’s forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects,” “estimates,” “anticipates,” or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results “may,” “could,” “might” or “occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.

Featured Image @ Freepik

Contact

Abibti Metals

info@abitibimetals.com

Ratings actions from Baystreet: http://www.baystreet.ca

TORONTO, Oct. 12, 2025 /PRNewswire/ - PERTH, Australia - Oct. 13, 2025 - IsoEnergy Ltd. ("IsoEnergy") (NYSE American: ISOU) and Toro Energy Ltd. ("Toro") are pleased to announce that they have entered into a scheme implementation deed (the "SID") pursuant to which, among other things, IsoEnergy has agreed to acquire all of the issued and outstanding ordinary shares of Toro (the "Toro Shares")(1) by way of a scheme of arrangement under Australia's Corporations Act 2001 (Cth) (the "Transaction" or the "Scheme"), subject to the satisfaction of various conditions. Toro owns 100% of the Wiluna Uranium Project, located 30km south of the town of Wiluna in the northern goldfields of Western Australia ("Wiluna Uranium Project").

On implementation of the Transaction, the two companies will combine to strengthen IsoEnergy's development pipeline by adding Toro's high-quality, scoping-stage Wiluna Uranium Project in Western Australia to IsoEnergy's existing portfolio, which includes past-producing U.S. mines, the ultra-high-grade Hurricane deposit in Canada's Athabasca Basin and a diversified suite of development and exploration assets across Canada, the U.S. and Australia. Toro shareholders will gain exposure to a larger, more diversified portfolio of high-quality uranium exploration, development and near-term production assets in tier-one jurisdictions in an enlarged, liquid vehicle while retaining direct exposure to the Wiluna Uranium Project and all other Toro assets.

Under the terms of the Transaction, Toro shareholders will receive 0.036 of a common share of IsoEnergy (each whole share, an "ISO Share") for each Toro Share held on the Scheme record date (the "Exchange Ratio"). Existing shareholders of IsoEnergy and Toro will own approximately 92.9% and 7.1% on a fully-diluted in-the-money basis, respectively, of the outstanding ISO Shares upon implementation of the Transaction.(2)

The Exchange Ratio implies consideration of A$0.584 per Toro Share, representing:(3)

• a 79.7% premium to the last traded price on the ASX of A$0.325 per Toro Share, on October 10, 2025; and
• a 92.2% premium to Toro's 20-day volume weighted average price ("VWAP") on the ASX as at October 10, 2025.

The implied fully-diluted in-the-money equity value of the Transaction is equal to approximately A$75.0million (C$68.1million).(4)

(_________________________) (1 Other than those held by or on behalf of members of the IsoEnergy Group.) (2 Based on a pro-forma fully diluted in-the-money shares outstanding of 62,423,144 of the combined entity.) (3 Based on the closing price of the ISO Shares over all Canadian exchanges on October 10, 2025 of C$14.73 and an AUD:CAD exchange rate of 0.9078.) (4 Based on a Toro's fully diluted in-the-money shares outstanding of 128,406,848. The implied value is not fixed and depends on the price at which ISO Shares trade.)

Strategic Rationale

• Tier One Uranium Portfolio -- The combination of IsoEnergy's past-producing U.S. mines, the ultra-high-grade Hurricane deposit in Canada's Athabasca Basin, and multiple development/exploration assets across Canada, the U.S. and Australia with Toro's flagship Wiluna Uranium Project in Western Australia, creates a development-ready platform with significant near-term production potential in stable, mining-friendly jurisdictions. The Wiluna Uranium Project--comprising the Centipede-Millipede, Lake Way and Lake Maitland deposits--is a scoping-level project with mineral resources that complement IsoEnergy's development pipeline.
• Significantly Expands and Diversifies Uranium Resource Base -- The pro forma company ("Merged Group") will hold current NI 43-101 compliant resources of 55.2 Mlbs U3O8 M&I and 4.9 Mlbs U3O8 Inferred5, and JORC 2012 and 2004 compliant resources of 78.1 Mlbs U3O8 M&I and 34.6 U3O8 Mlbs Inferred6 (please see the table on page 26 of this announcement for the breakdown of the JORC 2012 and 2004 compliant resources). The Merged Group will also hold historical resources of 154.3 Mlbs U3O8 M&I and 88.2 Mlbs U3O8 Inferred, establishing a robust and geographically diversified resource base7.8Cautionary statement: The pro forma Merged Group resources include foreign and historical estimates reported by IsoEnergy. These estimates are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates or foreign estimates as Mineral Resources or Ore Reserves in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical estimates or foreign estimates will be able to be reported as Mineral Resources or Ore Reserves in accordance with the JORC Code.
• Strengthens Merged Group's Exposure to Top Uranium Jurisdictions -- Wiluna will become IsoEnergy's flagship Australian project. Australia ranks #1 globally for uranium resources and was a Top-5 producer in 2024, supported by strong infrastructure and mining institutions9. Western Australia hosts significant undeveloped uranium projects, including Kintyre and Yeelirrie (Cameco) and Mulga Rock (Deep Yellow). Toro shareholders will have exposure to IsoEnergy's significant near-term production potential in stable, mining friendly jurisdictions in Canada and parts of the U.S.
• Well-Timed to Capitalize on Strong Nuclear Market Momentum -- The World Nuclear Association's 2025 Fuel Report projects uranium demand to rise 30% by 2030 and to more than double by 2040. A strengthened resource base and diversified jurisdictional exposure is expected to position IsoEnergy to benefit from rapidly tightening supply/demand outlook.
• Well Placed to Pursue Value Accretive Growth Opportunities -- The Merged Group will have significant balance sheet strength and access to capital markets to fund the Merged Group's portfolio including Toro's existing projects.

(_____________________________5 For additional information on the current resources for the Tony M Mine and Larocque East Project see the Tony M Technical Report and the Larocque East Technical Report, respectively. See Disclaimer on IsoEnergy Mineral Resource Estimates below for additional details.) 6 Based on updated mineral resource estimates for the Wiluna Uranium Project Deposits of Lake Maitland announced by Toro on September 24, 2024 and Centipede-Millipede and Lake Way announced by Toro on March 7, 2024, the Dawson Hinkler Satellite Deposit announced by Toro on May 2, 2024, the Nowthanna Deposit announced by Toro on February 1, 2016 and the Theseus Project, announced by Toro on December 5, 2012, prepared in accordance with JORC Code 2012, except Theseus which is in accordance with JORC Code 2004. Information contained in this announcement in connection with the Theseus Project was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The JORC Table 1 relevant to all of the Toro resource estimates can be found in Toro's ASX announcement of September 24, 2024 (titled "Significant Expansion Stated Lake Maitland Uranium Resource", except for Theseus, which is found in Toro's ASX announcement of December 5, 2012 (titled "Maiden Inferred Uranium Resource for Toro's Theseus Deposit"). For the purposes of ASX Listing Rule 5.23, Toro confirms that it is not aware of any new information or data that materially affects the information included in those original announcements, and that all material assumptions and technical parameters underpinning the estimates in the original announcements continue to apply and have not materially changed. 7 These mineral resources are considered to be "historical estimates" as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and IsoEnergy is not treating the historical estimates as current mineral resources. See Disclaimer on Mineral Resource Estimates below for additional details. (8 Refer to the Pro forma Mineral Resources disclaimer on page 10.) (9 World Nuclear Association - https://world-nuclear.org/information-library/nuclear-fuel-cycle/uranium-resources/supply-of-uranium)

Philip Williams, CEO and Director of IsoEnergy, commented, "The acquisition of Toro Energy marks another important step in advancing IsoEnergy's strategy to build a globally diversified, development-ready uranium platform. The Wiluna Uranium Project strengthens our portfolio with a large, previously permitted asset in a top-tier jurisdiction at a time when global nuclear demand is accelerating. This transaction positions IsoEnergy to deliver meaningful scale, optionality, and sustained value creation for shareholders. We look forward to welcoming the Toro team, who have done an admirable job stewarding the company and its projects through often challenging markets, to IsoEnergy and advancing the project together."

Richard Homsany, Executive Chairman of Toro, commented, "This Transaction creates significant value for our shareholders, representing a material premium for Toro shareholders of 79.7% to Toro's last traded price and 92.2% to Toro's 20 day VWAP. It also provides Toro shareholders the opportunity to be part of a larger, leading uranium company listed on the TSX and NYSE. Toro shareholders will have exposure to a diverse uranium portfolio that has strong growth potential and is located in favourable regulatory jurisdictions, and the ability to attract enhanced access to funding including for the Wiluna Uranium Project.

The Toro team will benefit from the significant financial strength of ISO and looks forward to working together on the successful development of the Wiluna Uranium Project for all stakeholders."

Anticipated Benefits to IsoEnergy shareholders

• Secures Wiluna Uranium Project, positioned for potential development, pending alignment of government policy with uranium production in Western Australia
• Strengthens ranking among the Australian uranium players, on the basis of potential production capacity, advanced mining assets and resource exposure
• Addition of large scale mineral resource at the scoping study stage with an exploration portfolio hosting additional uranium resources
• Opportunity for re-rating through de-risking near-term potential production and enhancing scale and asset diversification across key jurisdictions in the U.S., Canada and Australia
• Creation of a larger platform with greater scale for M&A, access to capital and liquidity

Anticipated Benefits to Toro shareholders

• Immediate and significant premium of 79.7% to last close and 92.2% based on the respective 20-day VWAPs of both companies, ending on October 10, 202510
• Exposure to a larger, more diversified portfolio of high-quality uranium exploration, development and near-term production assets in tier-one jurisdictions of U.S. and Canada
• Entry into the Athabasca Basin, a leading uranium jurisdiction, with the high-grade Hurricane deposit
• Upside from an accelerated path to potential production as well as from synergies with IsoEnergy's other Utah uranium assets
• Toro shareholders will be exposed to geographic project locations within the Merged Group outside of Western Australia including favourable uranium regulatory jurisdictions such as Canada and parts of the U.S.
• Continued exposure to Toro's Wiluna Uranium Project through holding of approximately 7.1% of the outstanding fully diluted in-the-money ISO Shares on closing of the Transaction11
• A Merged Group backed by corporate and institutional investors of IsoEnergy, including NexGen Energy Ltd., Energy Fuels Inc., Mega Uranium Ltd. and uranium ETFs
• Increased scale expected to provide greater access to capital for project development and on potentially more favourable terms, increased trading liquidity, wider research coverage and greater scale for M&A

Toro IBC Recommendations and Major Shareholders Intentions

Following receipt of an initial, confidential non-binding indicative offer from IsoEnergy, the Toro Board of Directors (the "Toro Board") established an independent board committee ("Toro IBC"), comprising Richard Homsany and Michel Marier, to consider the proposal. The Toro Board formed the Toro IBC since Richard Patricio (a Toro non-executive director) is also the Chair of the Board of Directors of IsoEnergy.

The Toro IBC, and the Board of Directors of IsoEnergy (with Mr. Patricio abstaining from voting) have each unanimously approved the SID. A copy of the SID is included at Annexure A of this announcement.

The Toro IBC unanimously recommends that Toro shareholders vote in favour of the Scheme in the absence of a superior proposal and subject to the independent expert's report concluding that the Scheme is in the best interests of Toro shareholders (other than IsoEnergy). Subject to the same qualifications, each member of the Toro IBC intends to vote, or procure the voting of, all Toro Shares held or controlled by them in favour of the Scheme. As at the date of this announcement, the Toro IBC collectively has a relevant interest in 1.8% of the Toro Shares on issue.

Substantial shareholder Mega Uranium Ltd. (together with its associate Mega Redport Pty Ltd) (representing 15,226,256 Toro Shares, being 12.7% of all Toro Shares) have provided Toro with a voting intention statement that they each intend to vote in favour of the Scheme, subject to no superior proposal emerging and the independent expert concluding (and continuing to conclude) that the Scheme is in the best interests of Toro shareholders (other than IsoEnergy).(12)

As at the date of this announcement IsoEnergy holds 6,000,000 Toro Shares (approximately 4.99% of Toro shares on issue at the date of this announcement).

(__________________________) (10 Based on the closing price of the ISO Shares on the TSX of $14.73, a closing price of A$0.325 of Toro Shares on the ASX and an AUD:CAD exchange rate of 0.9078 on October 10, 2025 and a 20-day VWAP for the period ending October 10, 2025 of Toro Shares on the ASX of A$0.304) (11 Based on a pro-forma fully diluted in-the-money shares outstanding of 62,423,144 of the combined entity) (12 Mega Uranium Ltd and Mega Redport Pty Ltd have each consented to the inclusion of this voting intention statement in this document.)

Conditions to completion of the Scheme

Implementation of the Scheme is subject to various conditions, including (among others):

• Approval of Toro shareholders in relation to the Scheme (including approval of more than 50% of the number of Toro shareholders voting and at least 75% of the total votes cast);
• Court approval in relation to the Scheme;
• No formal changes in Western Australian uranium policy to permit uranium mining and/or mining or development of all or any part of the Wiluna Uranium Project;
• All Toro unquoted options having lapsed, been exercised, or cancelled;
• Certain regulatory approvals, including Foreign Investment Review Board of Australia, the Australian Securities Exchange ("ASX"), the Toronto Stock Exchange (the "TSX") and the NYSE American LLC ("NYSE");
• An independent expert concluding (and continuing to conclude) that the Scheme is in the best interests of Toro shareholders (other than IsoEnergy); and
• No material adverse change or prescribed occurrences (each as defined in the SID) occurring in relation to either IsoEnergy or Toro and no regulatory restraints.

The SID provides for customary deal protection provisions with respect to Toro, including "no shop" as well as "no talk" and "no due diligence" restrictions (subject to customary exceptions to enable the Toro IBC to comply with its fiduciary and statutory duties), notification obligations and a matching right regime in the event any superior proposal is received by Toro. In addition, the SID provides that, under certain circumstances, IsoEnergy or Toro would be entitled to a break fee which, should either become payable, is approximately A$700,000.(13)

Following implementation of the Transaction, the ISO Shares will continue trading on the TSX and NYSE and Toro will be removed from the official list of ASX. If determined appropriate in the future, IsoEnergy may apply for admission to the official list of ASX, and quotation of the ISO Shares on ASX. Any such listing, if pursued, will be subject to IsoEnergy complying with the rules and policies of the ASX in force at such time. IsoEnergy cautions that no decision has been made to apply for an ASX listing, and that it is not a condition of the Transaction that such a listing be pursued. Approximately 54.7 million ISO Shares are currently outstanding on a non-diluted basis and approximately 58.0 million ISO Shares are currently outstanding on a fully-diluted basis. Upon implementation of the Transaction (assuming no additional issuances of ISO Shares or Toro Shares), there will be approximately 59.2 million ISO Shares outstanding on a non-diluted basis and approximately 62.4 million ISO Shares outstanding on a fully-diluted basis.

Toro option holders who validly exercise their Toro options and are issued Toro Shares prior to the Scheme record date will be entitled to participate in the Scheme. Toro and IsoEnergy propose to enter into option cancellation deeds with holders of unquoted Toro options (all of which are "out-of-the-money" as at the date of this announcement) pursuant to which the options will, subject to (among other things) the Scheme being approved and becoming effective, be cancelled for a cash payment and/or ISO share issuance(14) based on a form of Black-Scholes valuation methodology.

Furthermore, Toro must ensure that all unvested Toro performance rights automatically vest in accordance with their terms upon the Scheme becoming effective and must procure that prior to the Scheme record date, each Toro performance right is converted, such that the relevant Toro performance rights holders are entitled to participate in the Scheme.

(________________________________13 Equivalent to approximately C$635,000, based on an AUD:CAD exchange rate of 0.9078.) (14 Implied price of the ISO share issuance to be subject approval of the TSX)

Timetable

Shareholders of Toro will be asked to approve the Scheme at a shareholder meeting which is expected to be held in early 2026.

Full particulars of the Scheme will be provided to Toro shareholders in the Scheme Booklet which will include the Independent Expert Report, the reasons for the Independent Toro Directors' recommendation and an explanatory statement in respect of the Scheme.

It is expected that the Scheme Booklet will be dispatched to Toro shareholders in early 2026. Toro shareholders are not required to take any action at this stage in relation to the Scheme. It is expected that the Transaction will close in first half of 2026, subject to satisfaction of all conditions, including receipt of all necessary approvals.

Advisors

SCP Resource Finance LP is acting as financial advisor to IsoEnergy. Cassels Brock & Blackwell LLP is acting as Canadian legal advisor, Hamilton Locke is acting as Australian legal advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as US legal advisor to IsoEnergy.

Canaccord Genuity is acting as financial advisor to Toro. Cardinals Lawyers and Consultants is acting as legal advisor to Toro.

Qualified Person Statement

The scientific and technical information contained in this news release with respect to IsoEnergy was reviewed and approved Dr. Dan Brisbin, P.Geo., IsoEnergy's Vice President, Exploration, who is a "Qualified Person" (as defined in NI 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101")).

Each of the mineral resource estimates in respect of IsoEnergy contained in this news release, except for the Larocque East project and the Tony M mine, are considered to be "historical estimates" as defined under NI 43-101 and are not considered to be current. See "Disclaimer on Historical Mineral Resource Estimates" for additional details.

See "Disclaimer on IsoEnergy Mineral Resource Estimates" and Disclaimer on IsoEnergy Historical Mineral Resource Estimates" below for additional details.

The scientific and technical information contained in this news release with respect to Toro was prepared by Dr. Greg Shirtliff, Geology Manager of Toro, who is a Member of the Australian Institute of Mining and Metallurgy and "Competent Person" as defined Joint Ore Reserves Committee (JORC) 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Shirtliff consents to the inclusion in this release of the matters based on that information in the form and context in which it appears.

About IsoEnergy

IsoEnergy (NYSE American: ISOU; ) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. 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 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. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

About Toro Energy

Toro Energy Limited is an ASX listed uranium development and exploration company with projects in Western Australia. Toro is committed to building an energy metals business with the flagship Wiluna Uranium Project as the centrepiece. The Wiluna Uranium Project consists of the Centipede-Millipede, Lake Maitland and Lake Way uranium deposits 30km to the south of the town of Wiluna in Western Australia's northern goldfields.

Toro is committed to safe and sustainable uranium production and has health, safety, environment and community policies in place to underpin this commitment.

No securities regulatory authority has either approved or disapproved of the contents of this news release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, referred to as "forward-looking information"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking information includes statements with respect to the consummation and timing of the Transaction; receipt and timing of approval of Toro shareholders with respect to the Transaction; the anticipated benefits of the Transaction to the parties and their respective shareholders; the expected receipt of court, regulatory and other consents and approvals relating to the Transaction; the expected ownership interest of IsoEnergy shareholders and Toro shareholders in the Merged Group; anticipated strategic and growth opportunities for the Merged Group; the successful integration of the businesses of IsoEnergy and Toro; the prospects of each companies' respective projects, including mineral resources estimates and mineralization of each project; the potential for, success of and anticipated timing of commencement of future commercial production at the companies' properties, including expectations with respect to any permitting, development or other work that may be required to bring any of the projects into development or production; increased demand for nuclear power and uranium and the expected impact on the price of uranium; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that IsoEnergy and Toro will complete the Transaction in accordance with, and on the timeline contemplated by the terms and conditions of the relevant agreements; that the parties will receive the required shareholder, regulatory, court and stock exchange approvals and will satisfy, in a timely manner, the other conditions to the closing of the Transaction; the accuracy of management's assessment of the effects of the successful completion of the Transaction and that the anticipated benefits of the Transaction will be realized; the anticipated mineralization of IsoEnergy's and Toro's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Merged Group's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Toro have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of IsoEnergy and Toro with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Toro, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the inability of IsoEnergy and Toro to complete the Transaction; a material adverse change in the timing of and the terms and conditions upon which the Transaction is completed; the inability to satisfy or waive all conditions to closing the Transaction; the failure to obtain shareholder, regulatory, court or stock exchange approvals in connection with the Transaction; the inability of the Merged Group to realize the benefits anticipated from the Transaction and the timing to realize such benefits; the inability of the consolidated entity to realize the benefits anticipated from the Arrangement and the timing to realize such benefits, including the exploration and drilling targets described herein; unanticipated changes in market price for ISO Shares and/or Toro Shares; changes to IsoEnergy's and/or Toro's current and future business plans and the strategic alternatives available thereto; growth prospects and outlook of Toro's business; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, the United States and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described with respect to IsoEnergy in IsoEnergy's annual information form in respect of the year ended December 31, 2024 and other filings with the securities regulators which are available under IsoEnergy's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov and with respect to Toro at www.asx.com.au. IsoEnergy and Toro do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

For additional information regarding IsoEnergy's Tony M Mine, including the current mineral resource estimate, please refer to the Technical Report entitled "Technical Report on the Tony M Mine, Utah, USA — Report for NI 43-101" dated effective September 9, 2022 authored by Mr. Mark B. Mathisen, C.P.G. of SLR Consulting (Canada) Ltd. (the "Tony M Technical Report") , available under IsoEnergy's profile on www.sedarplus.ca. Mr. Mathisen is a "qualified person" under NI 43-101.

For additional information regarding IsoEnergy's Larocque East Project, including the current mineral resource estimate, please refer to the Technical Report entitled "Larocque East project, including the mineral resource estimate, please refer to the Technical Report entitled "Technical Report on the Larocque East Project, Northern Saskatchewan, Canada" dated effective July 8, 2022, authored by Mr. Mark B. Mathisen, C.P.G. of SLR Consulting (Canada) Ltd. (the "Larocque East Technical Report") , available under IsoEnergy's profile on www.sedarplus.ca. Mr. Mathisen is a "qualified person" under NI 43-101.

Each of the mineral resource estimates, except for the Larocque East Project and Tony M, contained in this presentation are considered to be "historical estimates" as defined under NI 43-101, and have been sourced as follows:

• Daneros Mine: Reported by Energy Fuels Inc. in a technical report entitled "Updated Report on the Daneros Mine Project, San Juan County, Utah, U.S.A.", prepared by Douglas C. Peters, C. P. G., of Peters Geosciences, dated March 2, 2018;
• Sage Plain Project: Reported by Energy Fuels Inc. in a technical report entitled "Updated Technical Report on Sage Plain Project (Including the Calliham Mine)", prepared by Douglas C. Peters, CPG of Peters Geosciences, dated March 18, 2015;
• Coles Hill: reported by Virginia Uranium Holdings Inc. In a technical report entitled "NI43-101 preliminary economic assessment update (revised)", prepared by John I Kyle of Lyntek Incorporated dated August 19, 2013;
• Dieter Lake: Dated 2006 and reported by Fission Energy Corp. In a company report entitled "Technical Report on the Dieter Lake Property, Quebec, Canada" dated October 7, 2011;
• Matoush: Dated December 7, 2012 and reported by Strateco Resources Inc. in a press release dated December 7, 2012;
• Ben Lomond: Dated as of 1982, and reported by Mega Uranium Ltd. In a company report entitled "Technical Report on the Mining Leases Covering the Ben Lomond Uranium-Molybdenum Deposit Queensland, Australia" dated July 16, 2005.
• Milo Project: Reported by Gmb Resources Ltd. in a scoping study entitled "Milo Project Scoping Study" prepared by Peter Owens and Basile Dean of Mining One Consultants, dated March 6, 2013.

For the Daneros Mine, as disclosed in the above noted technical report, the historical estimate was prepared by Energy Fuels using a wireframe model of the mineralized zone based on an outside bound of a 0.05% eu3o8 grade cutoff at a minimum thickness of 1 foot. Surface drilling would need to be conducted to confirm resources and connectivity of resources in order to verify the Daneros historical estimate as a current mineral resource.

For the Sage Plain Project, as disclosed in the above noted technical report, the historical estimate was prepared by Peters Geosciences using a modified polygonal method. An exploration program would need to be conducted, including twinning of historical drill holes, in order to verify the Sage Plain historical estimate as a current mineral resource.

For the Coles Hill Project, as disclosed in the above noted revised preliminary economic assessment, the historical estimated was prepared by John I Kyle of Lyntek Incorporated. Twinning of a selection of certain holes would need to be completed along with updating of mining, processing and certain cost estimates in order to verify the Coles Hill Project historical resource estimate as a current mineral resource estimate.

For Dieter Lake, as disclosed in the above noted technical report, the historical estimate was prepared by Davis & Guo using the Thiessen (Voronoi) polygon method. Data constraints used were 200 ppm, 500 ppm, and 1000ppm u3o8 over a minimum of 1 metre thickness. Polygons created had radii of 200 metres. A rock density of 2.67g/cm3 was used. An exploration program would need to be completed, including twinning of historical drill holes, in order to verify the Dieter Lake historical estimate as a current mineral resource.

For Matoush, as disclosed in the above noted press release, the historical estimate was prepared by RPA using block U(3) O(8) grades within a wireframe model that were estimated by ordinary kriging. The historical estimate was estimated at a cut-off grade of 0.1% U(3) O(8) and using an average long-term uranium price of us$75 per pound. Six zones make up the historical estimate at Matoush: am-15, mt-34, mt-22, mt-02, mt-06, and mt-36. Each zone is made up of one or more lenses, most of which strike north (009deg) and dip steeply (87deg) to the east. Outlines of the mineralized lenses were interpreted on ten-metre spaced vertical sections. Minimum criteria of 0.10% U(3) O(8) over 1.5 m true thickness was used as a guide. An exploration program would need to be conducted, including twinning of historical drill holes, in order to verify the Matoush historical estimate as a current mineral resource.

For Ben Lomond, as disclosed in the above noted technical report, the historical estimate was prepared by the Australian Atomic Energy Commission (AAEC) using a sectional method. The parameters used in the selection of the ore intervals were a minimum true thickness of 0.5 metres and maximum included waste (true thickness) of 5 metres. Resource zones were outlined on 25 metre sections using groups of intersections, isolated intersections were not included. The grades from the composites were area weighted to give the average grade above a threshold of 500 ppm uranium. The area was measured on each 25 metres section to give the tonnage at a bulk density of 2.603. An exploration program would need to be conducted, including twinning of historical drill holes, in order to verify the Ben Lomond historical estimate as a current mineral resource.

For the Milo Project, as disclosed in the above noted scoping study, the historical estimate was prepared by Peter Owens and Basile Dean of Mining One Consultants. An exploration program would need to be conducted, including twinning of a selection of certain holes, along with updating of mining processing and certain cost estimates in order to verify the Milo Project historical resource estimate as a current mineral resource estimate.

In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the Canadian Institute CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these "historical estimates" are not considered by IsoEnergy to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and neither IsoEnergy nor Toro is treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.

Cautionary Note to United States Investors Regarding Presentation of Mineral Resource Estimates

The mineral resource estimates included in this press release have been prepared in accordance with the requirements of the securities laws in effect in Canada and Australia, as applicable, which differ in certain material respects from the disclosure requirements promulgated by the U.S. Securities and Exchange Commission (the "SEC"). Accordingly, information contained in this press release may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements.

Pro forma Mineral Resources

This announcement refers to IsoEnergy and Toro having a combined pro forma Mineral Resource estimates of 133.4 Mlbs M&I (+141%) and 39.4 Mlbs Inferred (+704%), along with historical resources of 154.0 Mlbs M&I and 88.0 Mlbs Inferred. This is comprised of the individual Mineral Resource estimates of Toro reported in accordance with the JORC Code 2012 and 2004, and IsoEnergy reported in accordance with NI 43-101. Refer to the Mineral Resource estimates of each entity, confirmation in accordance with ASX Listing Rule 5.23 in respect of Toro on page 2 and page 26), and ASX Listing Rule 5.12 disclosures on behalf of IsoEnergy on page 11).

Competent person disclosures

The information presented here that relates to U(3) O(8) and V(2) O(5) Mineral Resources of Toro Energy's Centipede-Millipede, Lake Way, Lake Maitland, Dawson Hinkler and Nowthanna deposits is based on information compiled by Dr Greg Shirtliff of Toro Energy Limited and Mr Daniel Guibal of Condor Geostats Services Pty Ltd. Mr Guibal takes overall responsibility for the Resource Estimate, and Dr Shirtliff takes responsibility for the integrity of the data supplied for the estimation. Dr Shirtliff is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and Mr Guibal is a Fellow of the AusIMM and they have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012)'. The Competent Persons consent to the inclusion in this release of the matters based on the information in the form and context in which it appears.

The information presented here that relates to Mineral Resources of Toro's Theseus Uranium Project is based on work supervised by Michael Andrew, who is a member of the Australian Institute of Mining and Metallurgy of the Australian Institute of Geoscientists. Mr Andrew is an employee of Snowden Optiro, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity he is undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Andrew consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

Mineral Resource Estimates of IsoEnergy

 
                                                            U O      contained  V O    contained 
                                                    Tonnes  grade     U O       grade   V O 
Project     Location       Country     Category      (m)    (%)       (m lbs)   (ppm)   (m lbs) 
----------  -------------  ----------  -----------  ------  -------  ---------  -----  --------- 
Hurricane   Saskatchewan   Canada      Indicated    0.1     34.50 %  48.6 
                                                                                -----  --------- 
   Inferred                                         0.1     2.20 %   2.7 
                                                                                -----  --------- 
Tony M      Utah           USA         Indicated    1.1     0.28 %   6.6 
----------  -------------  ----------  -----------  ------  -------  ---------  -----  --------- 
   Inferred                                         0.4     0.27 %   2.2 
   -----------------------------------------------  ------  -------  ---------  -----  --------- 
Sage Plain  Utah           USA         Indicated*   0.2     0.16 %   0.8        1.3 %  6.5 
----------  -------------  ----------  -----------  ------  -------  ---------  -----  --------- 
   Inferred*                                        0.0     0.13 %   0.0        0.9 %  0.2 
   -----------------------------------------------  ------  -------  ---------  -----  --------- 
Daneros     Utah           USA         Indicated*   0.0     0.36 %   0.1 
                                                                                -----  --------- 
   Inferred*                                        0.0     0.37 %   0.1 
                                                                                -----  --------- 
Ben Lomond  Queensland     Australia   Indicated*   1.3     0.28 %   8.1 
----------  -------------  ----------  -----------  ------  -------  ---------  -----  --------- 
   Inferred*                                        0.6     0.21 %   2.8 
   -----------------------------------------------  ------  -------  ---------  -----  --------- 
Dieter 
 Lake       Quebec         Canada      Inferred*    19.3    0.06 %   24.4 
----------  -------------  ----------  -----------  ------  -------  ---------  -----  --------- 
Milo        Queensland     Australia   Inferred*    88.4    0.01 %   14.0 
                                                                                -----  --------- 
Matoush     Quebec         Canada      Indicated*   0.6     0.95 %   12.3 
----------  -------------  ----------  -----------  ------  -------  ---------  -----  --------- 
   Inferred*                                        1.7     0.44 %   16.4 
   -----------------------------------------------  ------  -------  ---------  -----  --------- 
Coles Hill  Virginia       USA         Indicated*   108.5   0.06 %   132.9 
                                                                                -----  --------- 
   Inferred*                                        32.9    0.04 %   30.4 
                                                                                -----  --------- 
 
Total M&I - 43-101                                  1.1              55.2              - 
Total Inferred 43-101                               0.4              4.9               - 
 
Total M&I                                           111.8            209.5             6.5 
Total Inferred                                      143.4            93.1              0.2 
 
*Includes historical resources 
 

Cautionary statement: The IsoEnergy Mineral Resource estimates comprise foreign and historical estimates for the purposes of the ASX Listing Rules. These estimates are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates or foreign estimates as Mineral Resources or Ore Reserves in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical estimates or foreign estimates will be able to be reported as Mineral Resources or Ore Reserves in accordance with the JORC Code.

ASX Listing Rule 5.12 disclosures regarding historical and foreign estimates

 
Listing  Explanation     Commentary 
Rule 
-------  --------------  --------------------------------------------------------------------------- 
5.12.1   The source and  Milo: Milo Mineral Resource Statement: 22 November 2012 contained in an ASX 
         date of the     Announcement by GBM Resources Ltd (ASX:GBZ). 
         historical 
         estimates or 
         foreign 
         estimates. 
-------  --------------  --------------------------------------------------------------------------- 
                         Ben Lomond: McKay, A. D., 1982, Ben Lomond Deposit: In Situ Uranium 
                         Resource Estimate. Confidential Report of the Australian Atomic Energy 
                         Commission Uranium Resource Evaluation Unit.   Vigar, A & Jones, D. 2005 
                         Technical Report on the Mining Leases Covering the Ben Lomond Uranium -- 
                         Molybdenum Deposit Queensland, Australia. Prepared for Maple Minerals 
                         Corporation as a NI-43-101 Report. Available at https://ww.sedarplus.ca. 
-------  --------------  --------------------------------------------------------------------------- 
                         Coles Hill: The Coles Hill Mineral Resources are considered to be historic 
                         in nature. The most recent Mineral Resource estimate was prepared by 
                         Lyntek, Inc. and BRS Engineering in 2013 (Kyle, John I., P. E. and Douglas 
                         Beahm, P.E., P.G., 2013; NI 43-101 Preliminary Economic Assessment Update 
                         (REVISED), Coles Hill Uranium Property, Pittsylvania County, Virginia, 
                         United States of America, and is based upon assay and geologic data 
                         collected by the former owner, Marline Oil Co, who drilled out the project 
                         between 1979 and 1981. All assays and geotechnical data used to develop the 
                         Mineral Resource estimate for the Coles Hill project was generated from 
                         that exploration program. 
                         --------------------------------------------------------------------------- 
                         Tony M: IsoEnergy's Tony M mine project has a Mineral Resource estimate 
                         that is current within the context of the Canadian Institute of Mining, 
                         Metallurgy and Petroleum (CIM) Code for Mineral Reserves and Mineral 
                         Resources (CIM Code). While the CIM Code is a foreign estimate, its 
                         classification of Mineral Resources is similar in most respects to those of 
                         the JORC Code. 
                         --------------------------------------------------------------------------- 
                         Daneros: The Mineral Resource estimate for the Daneros mine project of 
                         IsoEnergy is considered to be historic in nature. Historical exploration 
                         data used in IsoEnergy's project evaluation was derived from surface rotary 
                         and core holes drilled by Utah Power & Light and White Canyon Uranium 
                         (collectively 603 drill holes), and underground long holes (583 holes) 
                         drilled by Deneson Mines and Energy Fuels. Various Mineral Resource 
                         estimates, all of which are historical in nature and not in compliance with 
                         the JORC Code in 2009 for White Canyon Uranium and Energy Fuels, Inc. in 
                         2012 and 2018. The data used to prepare those reports was historical 
                         exploration drilling data and geologic information from prior mining 
                         operations. 
                         --------------------------------------------------------------------------- 
                         Dieter Lake: The most recent historical, foreign Mineral Resource estimate 
                         done for the Dieter Lake project in Northern Quebec is documented in two 
                         reports. The first is "2005 Exploration at the Dieter Lake Property, Quebec 
                         dated November 3, 2006" by Dahrouge Geological Consulting Ltd. for 
                         Strathmore Minerals Corporation which for the first time describes the new 
                         resource estimate. This estimate, along with an update on exploration 
                         activity from 2007 to 2011, was repeated in "Technical Report on the Dieter 
                         Lake Property, Quebec, Canada" dated October 7, 2011", prepared GeoVector 
                         Management Inc. for Fission Energy Corp (www.sedarplus.ca). Clinton Davis 
                         was an author on both reports. Michael Guo did the 2005 modelling and was a 
                         co-author on the 2006 report. Prior to the 2005 estimate, historical 
                         resource estimates had been completed in 1981, 1989, and 2004. Davis, C. & 
                         Guo, M. (2006). 2005 Exploration at the Dieter Lake Property, Quebec; NI 
                         43-101 Report for Strathmore Minerals Corp, 28 p., with appendices. 
                         Davis, C.F, (2011), Fission Energy Corp, Technical Report on the Dieter 
                         Lake Property, Quebec, Canada, NI43-101 Report for Fission Energy Corp, 47 
                         p., with appendices (www.sedarplus.ca). 
                         --------------------------------------------------------------------------- 
                         Sage Plain: Mineral resources for IsoEnergy's Sage Plain project were 
                         estimated by an independent contractor to the project's then current owner, 
                         Energy Fuels, Inc. and reported in the "Updated Technical Report on Sage 
                         Plain Project (including the Calliham Mine)" dated March 18, 2015 and 
                         authored by Douglas C. Peters, CPG of Peters Geosciences. The Technical 
                         Report follows the format of NI 43-101, but the author did not identify any 
                         Mineral Reserve and Mineral Resource code used to classify the 
                         mineralization. Resources were estimated by employing a polygonal method. 
                         IsoEnergy considers the Sage Plain resources to be historic in nature. 
                         --------------------------------------------------------------------------- 
                         Matoush: The most recent historical, foreign Mineral Resource estimate is 
                         documented in "Technical Report on the Mineral Resource Update for the 
                         Matoush Project, Central Québec, Canada, NI43-101 Report" dated 
                         February 15, 2012, prepared by David A. Ross, R. Barry Cook, Normand L. 
                         Lecuyer, and Bruce Fielder (Melis Engineering Ltd.) of Roscoe Postle 
                         Associates Inc. ("RPA") for Strateco Resources Inc. This report is 
                         available on www.sedarplus.ca. The historical, foreign Mineral Resource 
                         estimate was further updated by RPA in December 2012, as disclosed in a 
                         press release of Strateco dated December 7, 2012, and in Strateco 
                         Resources' Annual Information For, dated March 21, 2013 (available on 
                         www.sedarplus.ca). RPA updated the Mineral Resource estimate for the 
                         Matoush project based on drill results available as at November 22, 2012. 
                         --------------------------------------------------------------------------- 
                         Hurricane: The most recent foreign Mineral Resource estimate is documented 
                         in "Technical Report on the Larocque East Project, Northern Saskatchewan, 
                         Canada" for IsoEnergy Ltd. This report was prepared by Mark B. Mathisen of 
                         SLR Consulting (Canada) Ltd. ("SLR"). Two versions, both with an effective 
                         date of July 8, 2022, are available at www.sedarplus.ca - one with a 
                         signature date of July 12, 2022, and an amended version with a signature 
                         date of August 4, 2022. It is explained in the amended report that this 
                         Technical Report conforms to NI 43-101 Standards of Disclosure for Mineral 
                         Projects and replaces the technical report filed on SEDAR on July 19, 2022, 
                         which has been revised to correct the typographical error related to the 
                         Indicated U3O8 grades in Table 14-11, which summarizes the block model 
                         sensitivity to cut-off grade. Additional typographical errors have been 
                         corrected to align the descriptions of historical drilling in Section 6 
                         with Table 10-1. The recommended work plan has been revised. 
-------  --------------  --------------------------------------------------------------------------- 
5.12.2   Whether the     Milo: The Inferred resource was calculated in accordance with JORC 2004. 
         historical 
         estimates or 
         foreign 
         estimates use 
         categories of 
         mineralisation 
         other than 
         those defined 
         in Appendix 5A 
         (JORC Code) 
         and if so, an 
         explanation of 
         the 
         differences. 
-------  --------------  --------------------------------------------------------------------------- 
                         Ben Lomond: The Inferred resource used JORC terminology of the time (1982). 
-------  --------------  --------------------------------------------------------------------------- 
                         Coles Hill: Estimates of Mineral Resources for the Coles Hill project were 
                         prepared in accordance with Canadian National Instrument 43-101 and CIM 
                         standards that were in effect at the time that the resource estimate was 
                         prepared (2013). The estimate predates the current CIM Standards and CIM 
                         Estimation of Mineral Resources & Mineral Reserves Best Practices 
                         Guidelines, which became effective in November, 2019. IsoEnergy considers 
                         the Coles Hill resources to be historical in nature. The use of "Inferred 
                         Mineral Resources" and "Indicated Mineral Resources" follow the 
                         requirements of the CIM Code. The definitions of such classifications 
                         ("Inferred Mineral Resources" and "Indicated Mineral Resources") are 
                         similar to those classifications under the JORC Code, and there are no 
                         differences in the definitions of "Inferred Mineral Resources" and 
                         "Indicated Mineral Resources" between the two Codes. 
                         --------------------------------------------------------------------------- 
                         Tony M: The "current" Mineral Resource estimate for the Tony M project was 
                         prepared in compliance with the CIM Definition Standards for Mineral 
                         Resources & Mineral Reserves (2014), CIM Uranium Leading Practice 
                         Guidelines (2024) and Canadian National Instrument 43-101. The definitions 
                         of Mineral Resource classifications for "Indicated Mineral Resources" and 
                         "Inferred Mineral Resources" under the CIM Code are similar to the JORC 
                         Code definitions of "Inferred Mineral Resources" and "Indicated Mineral 
                         Resources". 
                         --------------------------------------------------------------------------- 
                         Daneros: Mineral resources for the Daneros Mine project were estimated for 
                         former project owner Energy Fuels, Inc. by Douglas C. Peters, CPG and this 
                         estimate is contained within the "Updated Report On The Daneros Mine 
                         Project, San Juan County, Utah, U. S. A." dated March 2, 2018. Although the 
                         resource is considered to be historic, the estimate uses resource 
                         classifications that are the same as those of the JORC Code. 
                         --------------------------------------------------------------------------- 
                         Dieter Lake: The Davis and Guo (2006) report and contained Mineral Resource 
                         estimate predate the current CIM Standards (May 2014) and CIM Estimation of 
                         Mineral Resources & Mineral Reserves Best Practices Guidelines (November 
                         2019), and for IsoEnergy the Mineral Resources are a historical estimate 
                         under National Instrument 43-101 -- Standards of Disclosure for Mineral 
                         Projects ("NI 43-101") and a qualified person has not done sufficient work 
                         to classify the historical estimate as current Mineral Resources. It is 
                         uncertain whether the Inferred resources in the 2006 report would qualify 
                         as Inferred resources under JORC standards. 
                         --------------------------------------------------------------------------- 
                         Sage Plain: Resources estimated and reported in the 2015 Technical Report 
                         on the Sage Plain Project" are historical in nature do not appear to be 
                         consistent with Mineral Resource codes in effect at the time of the 
                         report. 
                         --------------------------------------------------------------------------- 
                         Matoush: The Ross et al (2012) report and contained Mineral Resource 
                         estimate, and the historical, foreign Mineral Resource update in the March 
                         21, 2013 Strateco Resources Annual Information Form predate the current CIM 
                         Standards (May 2014) and CIM Estimation of Mineral Resources & Mineral 
                         Reserves Best Practices Guidelines (November 2019), and for IsoEnergy the 
                         Mineral Resources are a historical estimate under National Instrument 
                         43-101 -- Standards of Disclosure for Mineral Projects ("NI 43-101") and a 
                         Competent Person has not done sufficient work to classify the historical 

Ratings actions from Baystreet: http://www.baystreet.ca

(15:25 GMT) IsoEnergy Ltd. Price Target Is Maintained at C$22.00/Share by Stifel Nicolaus

Ratings actions from Baystreet: http://www.baystreet.ca

Toronto, Ontario--(Newsfile Corp. - September 18, 2025) - IsoEnergy Ltd. (NYSE American: ISOU) ("IsoEnergy") and Purepoint Uranium Group Inc. (OTCQB: PTUUF) ("Purepoint") today announced the receipt of partial assay results from the summer drill program at the companies' 50/50 joint venture Dorado Project (the "Dorado Project"), located on the southeastern margin of Saskatchewan's Athabasca Basin. The highlight comes from drill hole PG25-07A, which returned 2.1 metres grading 1.6% U₃O₈, including 0.4 metres at 8.1% U₃O₈ and an additional 4.9 metres at 0.52% U₃O₈ representing the most significant assay intervals reported to date from the Nova discovery zone (see Table 1 below).

"Eight percent uranium is an excellent grade from the centre of the very strong radioactive interval drilled by hole 7A," said Chris Frostad, President and CEO of Purepoint Uranium. "These assays reinforce the strength of this newly discovered system and provide a solid anchor point as we continue to test the mineralized structure in all directions."

Highlights:

• Drill hole PG25-07A intersected 0.4 metres at 8.1% U₃O₈ from within 2.1 metres of 1.6% U₃O₈ at the Nova discovery zone. The hole also returned an additional 4.9 metres at 0.52% U₃O₈, that included 0.4 metres at 2.9% U₃O₈.

• Select samples from PG25-07A were fast-tracked for assay to confirm uranium grades and mineral composition. Full assays from all holes remain pending.

• A total of 5,030 metres were completed across 11 holes before wildfires curtailed the planned 5,400-metre summer drill program.

• Additional drilling at Serin and Turaco targets, within the Dorado Project, has provided valuable data for calibration of the project's geophysics.

• Celeste project drill program deferred due to ongoing wildfire risks across northern Saskatchewan.

• Follow-up programs planned for early 2026 pending final assays and geologic/geophysical interpretation.

Despite having time and budget remaining, the program was cut short due to regional wildfires that limited helicopter access and created hazardous field conditions. As a result, drilling at the nearby Celeste project, also a Purepoint-IsoEnergy joint venture, has been deferred to a future program.

Table 1: Assay Results of Nova Discovery Drill Holes Received to Date

Turaco Grid Drilling

Two holes (TUR25-01 and TUR25-02) totaling 832 metres were completed at the Turaco Grid, targeting two parallel, newly reinterpreted airborne electromagnetic (EM) conductors within Zone 3. Neither hole encountered anomalous radioactivity, but both the results will help calibrate the Dorado Project's updated geophysical model. The highest radioactivity returned from the downhole probe was 578 CPS.

Serin Grid Drilling

Two holes (SL25-10 and SL25-11) were drilled at the Serin Grid, totaling 1,032 metres. While uranium mineralization was not encountered in SL25-10, anomalous radioactivity was hosted by a 6-metre-wide chloritized pegmatite in SL25-11 and returned up to 1,200 CPS from the downhole gamma probe. The drill hole results provide valuable insights into the basement geology and structural context that will guide future targeting.

Next Steps

Purepoint and IsoEnergy are now awaiting the full suite of geochemical assays and structural interpretations for the 2025 drill program. The results will support detailed planning for follow-up drilling in 2026, focused on expanding Nova and testing priority corridors across the broader Dorado Project property.

Figure 1: Location of the Q48 Nova Discovery, Q2, Turaco & Serin Target areas, the initial focus of the 2025 drill program, highlighted

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/3218/266945_e05fc55e74206a1a_003full.jpg

* See Qualified Person Statement below.

Figure 2: Location Map of 2025 Drill Program at Q48 Target Area and the new Nova Discovery

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/3218/266945_e05fc55e74206a1a_004full.jpg

Figure 3: Vertical Longitudinal Section of the Nova Discovery

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/3218/266945_e05fc55e74206a1a_005full.jpg

About the Dorado JV Project

The Dorado Project (Figure 3) is the flagship project of the IsoEnergy-Purepoint 50/50 joint venture, a partnership encompassing more than 98,000 hectares of prime uranium exploration ground. The Dorado Project includes the former Turnor Lake, Geiger, Edge, and Full Moon properties, all underlain by graphite-bearing lithologies and fault structures favorable for uranium deposition.

Recent drilling by IsoEnergy east of the Hurricane Deposit has intersected strongly elevated radioactivity in multiple holes. The anomalous radioactivity confirms the continuity of fertile graphitic rock package and further highlights the opportunity for additional high-grade discoveries across the region.

The shallow unconformity depths across the Dorado Project property—typically between 30 and 300 metres—allow for highly efficient drilling and rapid follow-up on results.

Figure 4: IsoEnergy and Purepoint Uranium Joint Venture including, Dorado Project, Aurora Project and Celeste Block

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/3218/266945_e05fc55e74206a1a_006full.jpg

* See Qualified Person Statement below.

Gamma Logging and Geochemical Assaying

A Mount Sopris 2PGA-1000 downhole total gamma probe was utilized for radiometric surveying. All drill intercepts are core width and true thickness is yet to be determined.

Core samples are submitted to the Saskatchewan Research Council ("SRC") Geoanalytical Laboratories in Saskatoon. The SRC facility is independent of IsoEnergy and Purepoint and is ISO/IEC 17025:2005 accredited by the Standards Council of Canada (scope of accreditation #537). The samples are analyzed for a multi-element suite, including uranium, using partial and total digestion and inductively coupled plasma (ICP) mass spectroscopy (MS) and optical emission spectroscopy (OES) methods. Boron sample analysis includes by fusion in a Na2O2/NaCO3 flux. followed by solution in deionized water and analysis by ICP-OES. The U3O8% values reported here are derived from uranium-total (Ut) results measured by total digestion preparation followed by ICP-OES analysis. The Ut results are reported by SRC in parts per million (ppm) and are converted to U3O8% by multiplying by 1.17924 and dividing by 10,000.

The basement rock drill core is NQ in size and samples are created in the field by spitting the core in half. Field duplicate samples are also created in the field by spitting every 30th sample of remaining core; one quarter is sent to the laboratory and one quarter of the core remains in the core box. Data verification includes internal SRC laboratory quality assurance and quality control (QA/QC), blanks, comparison of results of the duplicate samples and variance of standard samples.

References

Alonso, D., Dalidowicz, F., Mondy, J., 1991: Henday Lake Project 1991 Winter Activities and Results, Cogema Canada Limited. Saskatchewan Mineral Assessment File Number 74I-0053.

Cutts, C. and Lesiczka, M., 2007: Henday Lake Project 2007 Activities and Results, Areva Resources Canada Inc. Saskatchewan Mineral Assessment File Number 74I08-0071.

Donmez, S., 2013: Hatchet Lake Project, Richardson Lake Area, Winter 2013 Diamond Drilling Program, Denison Mines Corp. Saskatchewan Mineral Assessment File Number MAW00308

Goulet, D., Pascal, M., and Donmez, S., 2015: Murphy Lake Diamond Drilling Program and Slingram Moving Loop Surface Transient Electromagnetic Survey, Denison Mines Corp., Saskatchewan Mineral Assessment File Number MAW01724

Munholland, P. and Bingham, D., 1999: Henday Lake Project 1999 Activities and Results, Cogema Resources Inc. Saskatchewan Mineral Assessment File Number 74I09-0062.

Qualified Person Statement

The scientific and technical information contained in this news release relating to IsoEnergy and Purepoint was reviewed and approved by Dr. Dan Brisbin, P.Geo., IsoEnergy's Vice President, Exploration and Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, who are "Qualified Persons" (as defined in NI 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")).

For additional information with respect to the current mineral resource estimate for IsoEnergy's Hurricane Deposit, please refer to the Technical Report prepared in accordance with NI 43-101 entitled "Technical Report on the Larocque East Project, Northern Saskatchewan, Canada" dated August 4, 2022, available under IsoEnergy's profile at www.sedarplus.ca.

This news release refers to properties other than those in which IsoEnergy and Purepoint have an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Joint Venture properties.

About IsoEnergy Ltd.

IsoEnergy (NYSE American: ISOU) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. 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 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. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

About Purepoint

Purepoint Uranium Group Inc. (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. Highly prospective uranium projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.

Additionally, the Company holds a promising VMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Mining Corporation's McIlvenna Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.

For more information, please contact:

IsoEnergy Ltd.

Philip Williams, CEO and Director

(833) 572-2333

info@isoenergy.ca

www.isoenergy.ca

Purepoint Uranium Group Inc.

Chris Frostad, President & CEO

Phone: (416) 603-8368

Email: cfrostad@purepoint.ca

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". This forward-looking information may relate to additional planned exploration activities, including the timing thereof and the anticipated results thereof; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, that planned exploration activities are completed as anticipated; the anticipated costs of planned exploration activities, the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Joint Venture's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Purepoint have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of IsoEnergy and Purepoint with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Purepoint, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include but are not limited to the following: the inability of the Joint Venture to complete the exploration activities as currently contemplated; ; uncertainty of additional financing; no known mineral resources or reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions. Other factors which could materially affect such forward-looking information are described in the risk factors in each of IsoEnergy's and Purepoint's most recent annual management's discussion and analyses or annual information forms and IsoEnergy's and Purepoint's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and Purepoint do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266945