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IsoEnergy Intersects 4.0m of 20.5% U3O8 in Drill Hole LE20-40 and Drills More Off-Scale Uranium Mineralization

Vancouver, BC – IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to report additional results from the winter 2020 drilling program at the Hurricane zone.  The Hurricane zone is a new discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).

Highlights:

  • Assays received from previously reported drill hole LE20-40 average 20.5% U3O8 over 4.0m from 322.5 to 326.5m
  • The last six drill holes at the Hurricane zone all intersected thick intervals (>7m) of strong uranium mineralization, including two with off-scale sub-intervals (>65,000CPS on the RS-125 hand-held spectrometer, the “RS-125”)
  • Assays from the final six drill holes at the Hurricane zone are still pending

Craig Parry, Chief Executive Officer commented: “I’d like to congratulate our field crews on a very successful drilling program.  The program was delivered safely and efficiently whilst generating many intersections of strong uranium mineralization.”

Steve Blower, Vice President of Exploration commented: “I’m encouraged by the number of thick intersections of very strong uranium mineralization encountered in this drilling program.  The potential for more of these intersections at the Hurricane zone remains very high, as most of the cross-sections are yet to be closed off.”

Assays Received

Drill Hole LE20-40 (Hurricane Section 4435E)

Drill hole LE20-40 was completed on section with (and 8.5m south of) previously reported drill hole LE20-34 (8.5m @ 33.9% U3O8) to evaluate the extent of high-grade mineralization to the south of that drill hole.  It successfully intersected 4.0m of strong uranium mineralization that averages 20.5% U3O8 from 322.5 to 326.5m, including a sub-interval of very strong mineralization that averages 53.8% U3O8 over 1.5m.  Figure 2 shows the drill holes in plan-view.  Figure 3 shows the drill holes plotted on a cross-section.  Table 1 summarizes the assay and radioactivity results at the Hurricane zone.

Drill holes LE20-36 and 38 (Hurricane Section 4460E)

Drill holes LE20-36 and 38 were completed on section 4460E as follow-ups to the north and south, respectively, of mineralization previously reported in drill hole LE20-30 (5.5m @ 7.1% U3O8).  Radioactivity in these drill holes was reported previously.  Drill hole LE20-36 was completed 15m north of LE20-30 and it intersected 3.7% U3O8 over 1.0m from 332.5 to 333.5m, toward the northern margin of the Hurricane zone.  Drill hole LE20-38 was completed 14m south of LE20-30 and intersected 7.5m @ 2.0% U3O8 from 319.5 to 327.0m.  Figures 2 and 4 show the drill holes in plan and cross-section view, respectively.

Drill holes LE20-42 and LE20-44 (Hurricane Sections 4410E and 4460E, respectively)

Drill holes LE20-42 and 44 were completed 16m west and 36m east, respectively, of strongly mineralized drill hole LE20-34 (Figure 2).  Both drill holes intersected weak uranium mineralization averaging 0.4% U3O8 over 3.0m in LE20-42 (Figure 5) and 0.3% U3O8 over 1.5m in LE20-44 (Figure 4).  These drill holes are interpreted to be just north of the trend of higher-grade mineralization intersected in drill hole LE20-34.

New Intersections of Radioactivity

Drill Hole LE20-51 (Hurricane Section 4510E)

Drilled on section with, and 8m south of drill hole LE20-32A, drill hole LE20-51 was designed to evaluate the potential for additional high-grade mineralization south of that drill hole.  LE20-51 successfully intersected a 7.5m thick zone of strong uranium mineralization from 322.5 to 330.0m that includes a 3.0m subinterval of continuous mineralization measuring >30,000CPS (RS-125) (Figures 2 and 6).  The subinterval contains abundant “worm-rock” textured intergrowths of pitchblende and hematite along with common nickel mineralization.  A core photo is provided in Figure 7.

Drill Hole LE20-52 (Hurricane Section 4435E)

This drill hole was designed to evaluate the potential for additional high-grade mineralization to the south of drill holes LE20-40 and LE20-34.  It successfully intersected 7.5m of strong uranium mineralization from 318.5 to 326.0m, 7m south of drill hole LE20-40 (Figures 2 and 3).  The interval includes 1.5m of continuous off-scale radioactivity on the RS-125.

Drill Hole LE20-53 (Hurricane Section 4410E)

Completed 25m along-strike to the west of drill hole LE20-52, this drill hole successfully intersected 10.5m of strong uranium mineralization from 317.5 to 328.0m (Figures 2 and 5).  The intersection includes a 3.0m subinterval of very strong uranium mineralization measuring >20,000CPS (RS-125).  It also includes a 0.5m zone from 326.0 to 326.5m that is off-scale on the RS-125.

Drill Holes LE20-46 and LE20-48 (Hurricane Section 4485E)

These drill holes were designed to evaluate the potential for additional high-grade uranium mineralization to the north and south of drill hole LE19-12 (Figures 2 and 8).  Both of the drill holes intersected thick intervals of uranium mineralization.  Drill hole LE20-46 intersected 10m (from 318.0 to 328.0m) of strong uranium mineralization 6m north of LE19-12, including 2.0m that averages >20,000CPS (RS-125).  Drill hole LE20-48 intersected 11.5m (from 316.0-317.5m) of uranium mineralization 12m south of LE19-12, including 0.5m that averages >20,000 CPS (RS-125).

Drill Hole LE20-49 (Hurricane Section 4510E)

Drilled 15m north of drill hole LE20-32A, drill hole LE20-49 intersected 9m of uranium mineralization from 320.5 to 329.5m, including 1m that averages >10,000CPS (RS-125) (Figures 2 and 6).

Drilling to the East of the Hurricane Zone

Drill holes LE20-43, 45A, 47 and 50 were completed up to 1.6km east of the Hurricane zone.  Although no uranium mineralization was intersected, several important features were observed in the drill core that will require follow-up drilling in the area.  These include strong graphitic brittle faults in the basement and strong sandstone alteration zones similar to those associated with uranium mineralization at the Hurricane zone.  Geochemical analyses from the fault zones and alteration haloes are pending.

Next Steps

Winter drilling is now complete at the Larocque East property.  Assays for the final six drill holes completed at the Hurricane zone are pending.  Data compilation and interpretation are underway.  Plans for a summer drilling program that will continue to define the extent of the Hurricane zone are being developed.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha and is not encumbered by any royalties or other interests.  Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East.  The Hurricane zone was discovered in July, 2018 and was followed up with 29 drill holes in 2019.  Dimensions are currently 575m along-strike, 40m wide and up to 11m thick.  The zone is open for expansion along-strike to the east and on most sections.  Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface.  The best intersection to date is 33.9% U3O8 over 8.5m in drill hole LE20-34.  Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0m in drill hole Q22-040.  Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin.  Importantly, the sandstone cover on the Property is thin, ranging between 140m and 330m in previous drilling.  In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Property to date.

Table 1 – Drill 1 2020 Hurricane Zone Results

Hole-ID From (m) To (m) Length (m) Radioactivity1,2        Chemical Assays Orientation Location
        (CPS) U3O8 (%) Ni (%) Co (%) (Azm/Dip)  
LE20-303 330.0 335.5 5.5 >500 7.1 0.9 0.3 180/-80 Section 4460E
incl. 331.0 331.5 0.5 >10,000 3.4 0.1 0.1
and incl. 332.0 333.5 1.5 >20,000 24.0 2.7 0.5
LE20-32A3 329.5 338.0 8.5 >500 19.6 1.1 0.1 180/-80 Section 4510E
incl. 334.5 337.0 2.5 >20,000 63.6 0.4 0.0
incl. 335.0 336.5 1.5 Off-scale5 76.7 0.3 0.0
LE20-343 326.0 334.5 8.5 >500 33.9 0.5 0.1 180/-80 Section 4435E
incl. 328.0 333.0 5.0 >20,000 57.1 0.7 0.1
incl. 329.5 331.5 2.0 Off-scale5 62.8 0.4 0.1
LE20-364 332.5 333.5 1.0 >500 3.7 1.0 0.8 180/-80 Section 4460E
incl. 332.5 333.0 0.5 >20,000 5.5 1.3 1.0
LE20-384 319.5 327.0 7.5 >500 2.0 0.2 0.2 000/-90 Section 4460E
incl. 325.0 325.5 0.5 >20,000 3.5 0.0 0.0
and incl. 326.0 326.5 0.5 >20,000 9.8 0.1 0.2
LE20-404 319.5 320.5 1.0 >500 0.1 0.1 0.1 000/-90 Section 4435E
and 322.5 326.5 4.0 >500 20.5 1.0 0.0
incl. 323.0 324.5 1.5 >20,000 53.8 2.3 0.0
incl. 323.0 323.5 0.5 Off-scale5 64.9 0.2 0.1
LE20-42 326.0 329.0 3.0 >500 0.4 0.2 0.4 000/-90 Section 4410E
LE20-44 325.5 326.0 0.5 >500 0.2 0.0 0.0 000/-90 Section 4460E
and 327.5 329.0 1.5 >500 0.3 0.6 0.7
LE20-46 318.0 328.0 10.0 >500 Pending 000/-90 Section 4485E
Incl. 323.0 325.0 2.0 >20,000
and 326.0 327.0 1.0 >10,000
LE20-48 316.0 327.5 11.5 >500 Pending 000/-90 Section 4485E
Incl. 321.0 321.5 0.5 >10,000
and incl. 324.0 327.0 3.0 >10,000
incl. 324.5 325.0 0.5 >20,000
LE20-49 320.5 329.5 9.0 >500 Pending 000/-90 Section 4510E
incl. 326.5 327.5 1.0 >10,000
LE20-51 322.5 330.0 7.5 >500 Pending 000/-90 Section 4510E
incl. 325.5 329.0 3.5 >10,000
Incl. 326.0 329.0 3.0 >20,000
LE20-52 312.5 313.0 0.5 >500 Pending 000/-90 Section 4435E
and 318.5 326.0 7.5 >500
incl. 322.5 325.0 2.5 >10,000
incl. 322.5 324.0 1.5 Off-scale5
LE20-53 317.5 328.0 10.5 >500 Pending 000/-90 Section 4410E
incl. 324.5 327.5 3.0 >20,000
incl. 326.0 326.5 0.5 Off-scale5

Notes:        1.  Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer

  1. Measurements of total gamma on drill core are an indication of uranium content, but may not correlate with chemical assays
  2. Radioactivity and chemical assays previously disclosed
  3. Radioactivity previously disclosed
  4. Off-scale radioactivity is defined as exceeding 65,536 cps, the maximum measurable by an RS-125 spectrometer

Figure 1 – Larocque East Property Map

Figure 2 – Western Hurricane Zone Drill Hole Location Map

Figure 3 – Cross Section 4435E (Drill Holes LE20-40 and LE20-52)

Figure 4 – Cross Section 4460E (Drill Holes LE20-36 and LE20-38 and LE20-44)

Figure 5 – Cross Section 4410E (Drill Holes LE20-42 and LE20-53)

Figure 6 – Cross Section 4510E (Drill Holes LE20-49 and LE20-51)

Figure 7 – Drill Hole LE20-51 Core Photo of Mineralization

Figure 8 – Cross Section 4485E (Drill Holes LE20-46 and LE20-48)

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).  Mr. Carmichael has verified the data disclosed.  All radioactivity measurements reported herein are total gamma from an RS-125 hand-held spectrometer.  As mineralized drill holes at the Hurricane zone are oriented very steeply (-80 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths.  This news release refers to properties other than those in which the Company has an interest.  Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.  All chemical analyses are completed for the Company by SRC Geoanalytical Laboratories in Saskatoon, SK.  For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019 on the Company’s profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded 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% owned Larocque East property in the Eastern Athabasca Basin.  IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations.  The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.   

Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
[email protected] www.isoenergy.ca

Investor Relations
Kin Communications
+1 604 684 6730
[email protected]
www.isoenergy.ca

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

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein 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. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder,  alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

IsoEnergy Intersects 8.5m of 33.9% U3O8, Including 5.0m of 57.1% U3O8 at the Hurricane Zone and Expands Drill Program

Vancouver, BC – IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to report chemical assays from two drill holes that intersected strong radioactivity early in the winter drilling program at the Hurricane zone.  The Hurricane zone is a new discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).

Highlights:

  • Drill hole LE20-34 intersected 5m of uranium mineralization that averages 33.9% U3O8 from 326.0 to 334.5m, including 5.0m that averages 57.1% U3O8 from 328.0 to 333.0m. This is the strongest intercept drilled to date on the property.
  • Drill hole LE20-32A intersected 5m of uranium mineralization that averages 19.6% U3O8 from 329.5-338.0m, including 2.5m that averages 63.6% U3O8 from 334.5-337.0m.
  • The two drill holes are located on the west end of the Hurricane zone, approximately 75m apart.
  • Due to the positive results to date, the drill program has been expanded by 4 drill holes to a total of 24 drill holes.
  • The Company remains well-funded with over C$5 million in the treasury.

Craig Parry, Chief Executive Officer commented: “The grades and thicknesses seen in these holes speak for themselves and justify an expansion to the current program.  We’re approximately two-thirds of the way through this drill program and look forward to reporting additional results.”

Steve Blower, Vice President of Exploration commented: “Drill holes LE20-34 and LE20-32A intersections give us new insight into the controls on very high-grade uranium mineralization at Hurricane.  Drill hole LE20-34, for example, is located at the junction of the “H” fault and the sub-Athabasca unconformity.  That horizon has not been well drilled yet at Hurricane, suggesting that there is good potential for more mineralization like this.”

Drill Hole LE20-34 (Drill 1)

Drill Hole LE20-34 was drilled as a 25m step-out to the northwest of previously reported LE20-30 (5.5m @ 7.1% U3O8).  It cored strongly altered sandstone before intersecting 8.5m of strong uranium mineralization averaging 33.9% U3O8 from 326.0 to 334.5m (Figures 2 and 3).  The interval includes an extremely high-grade subinterval of 5.0m averaging 57.1% U3O8.  Within this subinterval is a 2.0m length of semi-massive to massive black and brown pitchblende that is off-scale (>65,000CPS) on the RS-125 hand-held spectrometer (the “RS-125”) and averages 62.8% U3O8.  Mineralization straddles the sub-Athabasca unconformity and is shown in a core photo in Figure 4.  Table 1 summarizes the uranium mineralization intersected to date by Drill 1 in the current program.

Drill Hole LE20-32A (Drill 1)

Drill hole LE20-32A was completed to infill a 50m along-strike gap between 2019 mineralized drill holes LE19-09 (4.5m @ 4.2% U3O8) and LE19-12 (8.5m @ 3.2% U3O8).  It intersected strongly altered sandstone before coring 8.5m of strong uranium mineralization that averages 19.6% U3O8 from 329.5 to 338.0m (Figures 2 and 5).  Similar to LE20-34, the interval includes an extremely high-grade subinterval of 2.5m averaging 63.6% U3O8.  Within this subinterval is a 1.5m length of semi-massive to massive black pitchblende that is off-scale on the RS-125 (>65,000CPS) and averages 76.7% U3O8.  Figure 6 is a core photo showing the mineralized interval.

Drill Hole LE20-40 (Drill 1)

Drill hole LE20-40 was completed on section with drill hole LE20-34 to evaluate the extent of high-grade mineralization to the south of that drill hole.  It successfully intersected 4.0m of uranium mineralization >500CPS (RS-125) from 322.5 to 326.5m, including 1.5m of very strong radioactivity and 0.5m that is off-scale on the RS-125 (Figures 2 and 3).

Drill Hole LE20-41 (Drill 2)

Drill 2 continues to deliver encouraging initial results well to the east of the current Hurricane zone footprint.  Drill hole LE20-41 was completed as another under-cutting stratigraphic drill hole designed to locate favourable basement rocks and structures approximately 1.2km east of the eastern end of the Hurricane zone footprint.  The hole was successful, as it intersected a thick package of highly graphitic basement rocks disrupted by brittle cataclastic faults.  The up-dip projection of the structures to the unconformity will be targeted later in this program.  Table 2 summarizes the drill holes completed to date by Drill 2.

Next Steps

Drill 1 remains on the west end of the Hurricane zone, continuing to infill the current footprint of the zone, extending the mineralization to the property boundary, and evaluating new targets generated by the results in drill holes LE20-32A and LE20-34.  Drill 2 will continue to evaluate the potential to expand the zone to the east by following up on the brittle structures intersected at depth in undercutting stratigraphic drill holes LE20-37, 39 and 41.  Further results of the program will be reported periodically throughout the winter drill season.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha and is not encumbered by any royalties or other interests.  Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East.  The Hurricane zone was discovered in July, 2018 and was followed up with a 12-hole drilling campaign in the winter of 2019 and a recently completed 17-hole summer 2019 drilling campaign.  Dimensions are currently 550m along-strike, 40m wide and up to 10m thick.  The zone is open for expansion along-strike and on most sections.  Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface.  The best intersection to date is 33.9% U3O8 over 8.5m in drill hole LE20-34.  Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0 m in drill hole Q22-040.  Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin.  Importantly, the sandstone cover on the Property is thin, ranging between 140 m and 330 m in previous drilling.  In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Property to date.

Table 1 – 2020 Larocque East Drilling Results

                 
Hole-ID From (m) To (m) Length (m) Radioactivity1,2        Chemical Assays Orientation Location
        (CPS) U3O8 (%) Ni (%) Co (%) (Azm/Dip)  
LE20-303 330.0 335.5 5.5 >500 7.1 0.9 0.3 180/-80 Section 4460E
incl. 331.0 331.5 0.5 >10,000 3.4 0.1 0.1
and incl. 332.0 333.5 1.5 >20,000 24.0 2.7 0.5
LE20-31 No significant mineralization 180/-60 Section 5185E
LE20-32A4 329.5 338.0 8.5 >500 19.6 1.1 0.1 180/-80 Section 4510E
incl. 334.5 337.0 2.5 >20,000 63.6 0.4 0.0
incl. 335.0 336.5 1.5 Off-scale5 76.7 0.3 0.0
LE20-33 No significant mineralization 000/-90 Section 5185E
LE20-344 326.0 334.5 8.5 >500 33.9 0.5 0.1 180/-80 Section 4435E
incl. 328.0 333.0 5.0 >20,000 57.1 0.7 0.1
incl. 329.5 331.5 2.0 Off-scale5 62.8 0.4 0.1
LE20-35 No significant mineralization 180/-80 Section 5185E
LE20-364 332.5 333.5 1.0 >500 Pending 180/-80 Section 4460E
incl. 332.5 333.0 0.5 >20,000 Pending
LE20-37 No significant mineralization 165/-60 Section 19-1000E
LE20-384 319.5 327.0 7.5 >500 Pending 000/-90 Section 4460E
incl. 325.0 325.5 0.5 >20,000 Pending
and incl. 326.0 326.5 0.5 >20,000 Pending
LE20-39 No significant mineralization 165/-60 Section 19-1400E
LE20-40 319.5 320.5 1.0 >500 Pending 000/-90 Section 4435E
and 322.5 326.5 4.0 >500 Pending
incl. 323.0 324.5 1.5 >20,000 Pending
incl. 323.0 323.5 0.5 Off-scale5 Pending

Notes:        1.  Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer

  1. Measurements of total gamma on drill core are an indication of uranium content, but may not correlate with chemical assays
  2. Radioactivity and chemical assays previously disclosed
  3. Radioactivity previously disclosed
  4. Off-scale radioactivity is defined as exceeding 65,536 cps, the maximum measurable by an RS-125 spectrometer

Table 2 – Drill 2 2020 Larocque East Drilling Results

         
Hole-ID From (m) To (m) Length (m) Orientation Location
        (Azm/Dip)  
LE20-31 No significant mineralization 180/-60 Section 5185E
LE20-33 No significant mineralization 000/-90 Section 5185E
LE20-35 No significant mineralization 180/-80 Section 5185E
LE20-37 No significant mineralization 165/-60 Section 19-1000E
LE20-39 No significant mineralization 165/-60 Section 19-1400E
LE20-41 No significant mineralization 165/-60 Section 19-1600E

 

Figure 1 – Larocque East Property Map

Figure 2 – Western Hurricane Zone Drill Hole Location Map

Figure 3 – Cross Section 4435E (Drill Holes LE20-34 and LE20-40)

Figure 4 – Drill Hole LE20-34 Core Photo of Mineralization

Figure 5 – Cross Section 4510E (Drill Hole LE20-32A)

Figure 6 – Drill Hole LE20-32A Core Photo of Mineralization

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).  Mr. Carmichael has verified the data disclosed.  All radioactivity measurements reported herein are total gamma from an RS-125 hand-held spectrometer.  As mineralized drill holes at the Hurricane zone are oriented very steeply (-80 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths.  This news release refers to properties other than those in which the Company has an interest.  Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.  All chemical analyses are completed for the Company by SRC Geoanalytical Laboratories in Saskatoon, SK.  For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019 on the Company’s profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded 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% owned Larocque East property in the Eastern Athabasca Basin.  IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations.  The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
[email protected] www.isoenergy.ca 

Investor Relations
Kin Communications
+1 604 684 6730
[email protected]
www.isoenergy.ca

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

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein 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. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder,  alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

IsoEnergy Intersects 7.1% U3O8 Over 5.5m, Including 24.0% U3O8 Over 1.5m in First Drill Hole at Hurricane

Vancouver, BC – IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to report assays from the first drill hole of the winter program at the Hurricane zone.  Discovered in 2018, Hurricane is a zone of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).

Highlights:

  • Drill hole LE20-30 intersected 7.1% U3O8, 0.9% Ni and 0.3% Co over 5.5m (329.5 to 335.0m)
  • A higher-grade subinterval averages 24.0% U3O8, 2.7% Ni and 0.5% over 1.5m (332.0 to 333.5m)
  • Drill holes LE20-36 and LE20-38 intersected strong uranium mineralization in the western extension area
  • Assay results from very strongly mineralized drill holes LE20-32A and LE20-34 are still pending
  • Current 8,500m drill program is fully funded

Steve Blower, Vice President of Exploration commented: “Systematic drilling at the west end of the Hurricane zone continues to deliver strong intersections, extending high-grade mineralization west of the 2019 footprint.  Additionally, wide spaced drilling along 800m of strike length well to the east of Hurricane continues to intersect geology and structure that is favorable for uranium mineralization.  The assay results from LE20-30 are the best to date at Hurricane.  However, the thickness of mineralization and level of radioactivity in drill holes LE20-32A and LE20-34 (reported previously) suggests the result in LE20-30 will be surpassed shortly when assays from these drill holes are received.”

Drill Hole LE20-30 (Drill 1)

Chemical assays for drill hole LE20-30 confirm the intersection of 5.5m of strong radioactivity reported previously (see news release dated February 4, 2020).  The interval averages 7.1% U3O8, 0.9% Ni and 0.3% Co from 329.5m to 335.0m and includes a 1.5m subinterval that averages 24.0% U3O8, 2.7% Ni and 0.5% Co from 332.0-333.5m.  The mineralization is situated immediately above the sub-Athabasca unconformity, which was intersected at 334.8m.  Table 1 summarizes the intersections to date in 2020.  Figure 2 shows the drill hole locations at the west end of the Hurricane zone in plan view.  Figure 3 shows the results of LE20-30 in cross-section view.

Drill Holes LE20-36 and LE20-38 (Drill 1)

Following up on the results in drill hole LE20-30, LE20-36 and LE20-38 were completed on the same section, 14m north and 14m south of LE20-30, respectively.  Both of the drill holes intersected strong radioactivity at the sub-Athabasca unconformity.  Drill hole LE20-36 intersected 1.0m of mineralization from 332.5 to 333.5m, including 0.5m >20,000CPS (total gamma measured with an RS-125 spectrometer (RS-125)).  Drill hole LE20-38 intersected 7.5m of mineralization from 319.5 to 327.0m, including two 0.5m subintervals >20,000CPS (RS-125).  Additional details are provided in Table 1.  See Figures 2 and 3 for a plan and section view, respectively.

Drill Holes LE20-35, LE20-37 and LE20-39 (Drill 2)

These three drill holes are evaluating the potential for additional uranium mineralization well to the east of the current Hurricane zone footprint.  Spread over 800m of strike length, the holes have successfully intersected favourable Hurricane-style geology and structure deep in the basement below the unconformity, confirming the potential for additional uranium mineralization over the entire length of the area tested to date.  Subsequent drilling in this program will test these structures at the sub-Athabasca unconformity.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha and is not encumbered by any royalties or other interests.  Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East.  The Hurricane zone was discovered in July, 2018 and was followed up with a 12-hole drilling campaign in the winter of 2019 and a recently completed 17-hole summer 2019 drilling campaign.  Dimensions are currently 550m along-strike, 40m wide and up to 10m thick.  The zone is open for expansion along-strike and on most sections.  Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface.  The best assayed intersection to date is 7.1% U3O8 over 5.5m in drill hole LE20-30, as reported herein.  Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0 m in drill hole Q22-040.  Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin.  Importantly, the sandstone cover on the Property is thin, ranging between 140 m and 330 m in previous drilling.  In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Property to date.

Table 1 – 2020 Larocque East Drilling Results

                 
Hole-ID From (m) To (m) Length (m) Orientation Radioactivity1,2        Chemical Assays Location
        (Azm/Dip) (CPS) U3O8 (%) Ni (%) Co (%)  
LE20-303 329.5 335.0 5.5 180/-80 >500 7.1 0.9 0.3 Section 4460E
incl. 331.0 331.5 0.5 >10,000 3.4 0.1 0.1
and 332.0 333.5 1.5 >20,000 24.0 2.7 0.5
LE20-31 No significant mineralization 180/-60 Section 5185E
LE20-32A3 329.5 338.0 8.5 180/-80 >500 Pending Section 4510E
incl. 334.5 337.0 2.5 >20,000
incl. 335.0 336.5 1.5 Off-scale4
LE20-33 No significant mineralization 000/-90 Section 5185E
LE20-343 326.0 334.5 8.5 180/-80 >500 Pending Section 4435E
incl. 328.0 333.0 5.0 >20,000
incl. 329.5 331.5 2.0 Off-scale4
LE20-35 No significant mineralization 180/-80 Section 5185E
LE20-36 332.5 333.5 1.0 180/-80 >500 Pending Section 4460E
incl. 332.5 333.0 0.5 >20,000
LE20-37 No significant mineralization 165/-60 Section 19-1000E
LE20-38 319.5 327.0 7.5 000/-90 >500 Pending Section 4460E
incl. 325.0 325.5 0.5 >20,000
and incl. 326.0 326.5 0.5 >20,000

Notes:        1.  Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer

  1. Measurements of total gamma on drill core are an indication of uranium content, but may not correlate with chemical assays
  2. Radioactivity previously disclosed
  3. Off-scale radioactivity is defined as exceeding 65,536 cps, the maximum measurable by an RS-125 spectrometer

Figure 1 – Larocque East Property Map

Figure 2 – Western Hurricane Zone Drill Hole Location Map

Figure 3 – Vertical Cross-Section 4460E (Looking East)

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).  Mr. Carmichael has verified the data disclosed.  All radioactivity measurements reported herein are total gamma from an RS-125 hand-held spectrometer.  As mineralized drill holes at the Hurricane zone are oriented very steeply (-80 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths.  This news release refers to properties other than those in which the Company has an interest.  Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.  All chemical assays are completed for the Company by SRC Geoanalytical Laboratories in Saskatoon, SK.  For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019 on the Company’s profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada and a historical inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut.  IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations.  The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Craig Parry
Chief Executive Officer

IsoEnergy Ltd.
+1 778 379 3211
[email protected] www.isoenergy.ca

Investor Relations

Kin Communication
+1 604 684 6730
[email protected]
www.isoenergy.ca

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

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein 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. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder,  alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

IsoEnergy Intersects Strongest Uranium Mineralization to Date at the Hurricane Zone

Vancouver, BC – IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to report two new intersections of strong radioactivity in initial drill holes of the winter drilling program at the Hurricane zone.  The Hurricane zone is a new discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).

Highlights:

  • Drill hole LE20-34 intersected 8.5m of uranium mineralization (>500CPS on the RS-125 hand-held spectrometer, the “RS-125”), including 0m of massive to semi-massive pitchblende measuring >65,000CPS (off-scale on the RS-125). This is the most significant and strongest mineralization drilled to date on the property.
  • Drill hole LE20-32A also intersected 8.5m of uranium mineralization (>500CPS RS-125), including 5m of massive to semi-massive pitchblende measuring >65,000CPS (off-scale on the RS-125).
  • The two drill holes are located on the west end of the Hurricane zone, approximately 75m apart.
  • Geochemical assays are expected within four weeks.
  • The Company remains well-funded with over C$6 million in the treasury.

Craig Parry, Chief Executive Officer commented: “I want to congratulate our technical team and particularly our field crew for safely and efficiently delivering outstanding drill results early in this drilling program.  Holes LE20-34 and LE20-32A include thick intercepts of off-scale mineralization confirming these as our best drill results to date and we eagerly await the assay results. These great drill results come at a promising time for the sector as the market fundamentals for uranium move towards a phase of higher prices.”

Steve Blower, Vice President of Exploration commented: “It is gratifying to see these substantial thicknesses of strong pitchblende mineralization in the drill core from Drill 1 early in our winter program.  The results bode well for additional drill holes in this campaign, particularly on the western side of the Hurricane zone.  I’m also encouraged by the alteration, structure and elevated radioactivity that we’re seeing at Drill 2, well east of the current Hurricane zone footprint.”

Drill Hole LE20-34 (Drill 1)

Drill hole LE20-34 was completed as a 25m step-out along-strike to the west of drill hole LE20-30, which was the first drill hole of this winter 2020 campaign (see news release dated February 4, 2020).  LE20-34 intersected strongly altered sandstone before intersecting 8.5m of uranium mineralization >500CPS (RS-125) from 326.0 to 334.5m (Figures 2 and 3).  The interval includes a substantial 2.0m interval of semi-massive to massive black and brown pitchblende that is off-scale on the RS-125 (>65,000CPS).  Mineralization straddles the sub-Athabasca unconformity and is shown in a core photo in Figure 4.  Table 1 summarizes the uranium mineralization intersected to date in the current program.

Drill Hole LE20-32A (Drill 1)

The objective of drill hole LE20-32A was to test a 50m along-strike gap between 2019 mineralized drill holes LE19-09 (4.5m @ 4.2% U3O8, 1.1% Ni, 0.8% Co) and LE19-12 (8.5m @ 3.2% U3O8, 2.1% Ni, 0.2% Co).  Drill hole LE20-32A intersected strongly altered sandstone before intersecting 8.5m of uranium mineralization >500CPS (RS-125) from 329.5-338.0m (Figures 2 and 5).  Similar to LE20-34, the interval includes 1.5m of semi-massive to massive black pitchblende that is off-scale on the RS-125 (>65,000CPS).  Figure 6 is a core photo showing the mineralized interval.

Drill Holes LE20-31 and LE20-33 (Drill 2)

Encouraging initial results have been received from Drill 2, 200m east of the current Hurricane zone footprint.  A newly recognized graphitic structural zone was observed in core from drill hole LE20-31, which is likely responsible for the alteration and radioactivity observed in the summer of 2019 in drill hole LE19-26.  This new structural zone sits north of the Hurricane zone trend and is interpreted to be the west end of a strongly graphitic, highly prospective corridor that stretches several kilometres to the east.  Drill hole LE20-33 targeted the new structure at the unconformity but likely overshot the zone, despite intersecting strong sandstone alteration and elevated radioactivity just above the unconformity.  Drilling continues on this section.

Next Steps

Drill 1 will remain on the west end of the Hurricane zone, continuing to test the current footprint of the zone and extending the mineralization to the property boundary and to the north and south where it remains open.  Assay results from drill holes LE20-32A and LE20-34 are expected within four weeks.  Drill 2 will continue to evaluate the potential to expand the zone to the east.  Further results of this 20-hole program will be reported periodically throughout the winter drill season.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha and is not encumbered by any royalties or other interests.  Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East.  The Hurricane zone was discovered in July, 2018 and was followed up with a 12-hole drilling campaign in the winter of 2019 and a recently completed 17-hole summer 2019 drilling campaign.  Dimensions are currently 550m along-strike, 40m wide and up to 10m thick.  The zone is open for expansion along-strike and on most sections.  Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface.  Previous to these results, the best intersection to date was 5.4% U3O8 over 7.0m in drill hole LE19-16A.  Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0 m in drill hole Q22-040.  Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin.  Importantly, the sandstone cover on the Property is thin, ranging between 140 m and 330 m in previous drilling.  In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Property to date.

Table 1 – 2020 Larocque East Drilling Results

Hole-ID From (m) To (m) Length (m) Orientation Radioactivity1,2 (CPS)        Chemical Assays Location
        (Azm/Dip)   U3O8 (%) Ni (%) Co (%)  
LE20-303 329.5 335.0 5.5 180/-80 >500 Pending Section 4460E
incl. 331.0 331.5 0.5 >10,000 Pending
and 332.0 333.5 1.5 >20,000 Pending
LE20-31 No significant mineralization 180/-60 Section 5185E
LE20-32A 329.5 338.0 8.5 180/-80 >500 Pending Section 4510E
incl. 334.5 337.0 2.5 >20,000 Pending
incl. 335.0 336.5 1.5 Off-scale4 Pending
LE20-33 No significant mineralization 000/-90 Section 5185E
LE20-34 326.0 334.5 8.5 180/-80 >500 Pending Section 4435E
incl. 328.0 333.0 5.0 >20,000 Pending
incl. 329.5 331.5 2.0 Off-scale4 Pending

Notes:        1.  Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer

  1. Measurements of total gamma on drill core are an indication of uranium content, but may not correlate with chemical assays
  2. Radioactivity previously disclosed
  3. Off-scale radioactivity is defined as exceeding 65,536 cps, the maximum measurable by an RS-125 spectrometer

Figure 1 – Larocque East Property Map

Figure 2 – Western Hurricane Zone Drill Hole Location Map

Figure 3 – Cross Section 4435E (Drill Hole LE20-34)  

Figure 4 – Drill Hole LE20-34 Core Photo of Mineralization

Figure 5 – Cross Section 4510E (Drill Hole LE20-32A)

Figure 6 – Drill Hole LE20-32A Core Photo of Mineralization

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).  Mr. Carmichael has verified the data disclosed.  All radioactivity measurements reported herein are total gamma from an RS-125 hand-held spectrometer.  As mineralized drill holes at the Hurricane zone are oriented very steeply (-80 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths.  This news release refers to properties other than those in which the Company has an interest.  Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.  All chemical analyses are completed for the Company by SRC Geoanalytical Laboratories in Saskatoon, SK.  For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019 on the Company’s profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded 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% owned Larocque East property in the Eastern Athabasca Basin.  IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations.  The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Craig Parry

Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
[email protected]
www.isoenergy.ca

Investor Relations

Kin Communications
+1 604 684 6730
[email protected]
www.isoenergy.ca

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

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein 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. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder,  alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

IsoEnergy Intersects Strong Radioactivity at the Hurricane Uranium Zone

Vancouver, BC – IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to report an intersection of strong radioactivity in the first drill hole of the winter program at the Hurricane zone.  The Hurricane zone is a new discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).

Highlights:

  • Drill hole LE20-30 is located 25m west of the 2019 Hurricane zone footprint
  • The near-vertical drill hole intersected 5.5m of strong radioactivity from 329.5-335.0m
  • Mineralization is located primarily in the basal sandstone immediately above the sub-Athabasca unconformity at 334.8m

Steve Blower, Vice President of Exploration commented: “I’m pleased that we’ve been able to extend the Hurricane zone with the first drill hole of the winter program.  This drill will continue to expand the zone to the west and complete several infill drill holes within the current Hurricane zone footprint.  We also eagerly await the results from the second drill, which has been tasked with evaluating the potential to expand the zone to the east.  That drill has now started its first hole, which is an undercut of 2019 step-out drill hole LE19-26.”

Drill Hole LE20-30 Details

Drilled to evaluate the potential to expand the Hurricane zone footprint to the west, drill hole LE20-30 was collared 25m west of 2019 drill hole LE19-12, which intersected 3.2% U3O8 and 2.1% Ni over 8.5m (Figure 2).  Drill hole LE20-30 encountered strongly altered sandstone before intersecting 5.5m of strong radioactivity averaging greater than 14,000 CPS (RS-125 hand-held spectrometer) from 329.5-335.0m (Figure 3).  The mineralization is located immediately above the sub-Athabasca unconformity, which was intersected at 334.8m.  As the drill hole continued into the basement rocks beneath the unconformity, several strong faults were intersected, suggesting that additional targets remain to the south on this section (Figure 4).  Samples have been submitted to the analytical laboratory.  Chemical assay results are expected within three to four weeks.

Next Steps

The LE20-30 drill will remain on the west end of the Hurricane zone, infilling the current footprint of the zone and continuing to expand it to the west, where a 50m gap still remains between drill hole LE20-30 and the property boundary to the west.

The second drill will evaluate the potential to expand the zone to the east.  This will include following up on the strong alteration, anomalous geochemistry, and elevated radioactivity in drill hole LE19-26, the only drill hole completed by the Company to date that is beyond the 500m long Hurricane zone footprint.  Results from a DC-Resistivity geophysical survey completed in the summer of 2019 support the highly prospective nature of the area, which extends for several kilometres to the east.  Meters and holes are expected to be split approximately equally between both drills.  Further results of the program will be reported periodically throughout the winter drill season.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha and is not encumbered by any royalties or other interests.  Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East.  The Hurricane zone was discovered in July, 2018 and was followed up with a 12-hole drilling campaign in the winter of 2019 and a recently completed 17-hole summer 2019 drilling campaign.  Dimensions are currently 500m along-strike, 40m wide and up to 10m thick.  The zone is open for expansion along-strike and on most sections.  Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface.  The best intersection to date is 5.4% U3O8 over 7.0m in drill hole LE19-16A.  Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0 m in drill hole Q22-040.  Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the major uranium deposits in the eastern Athabasca Basin.  Importantly, the sandstone cover on the Property is thin, ranging between 140 m and 330 m in previous drilling.  In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Property to date.

Figure 1 – Larocque East Property Map

Figure 2 – Hurricane Zone Drill Hole Location Map

Figure 3 – Drill Hole LE20-30 Mineralization  

Figure 4 – Vertical Cross-Section 4460E (Looking East)

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).  Mr. Carmichael has verified the data disclosed.  As mineralized drill holes at the Hurricane zone are oriented very steeply (-80 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths.  This news release refers to properties other than those in which the Company has an interest.  Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.  For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019 on the Company’s profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada and a historical inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut.  IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations.  The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
[email protected] www.isoenergy.ca 

Investor Relations
Kin Communications
+1 604 684 6730
[email protected]
www.isoenergy.ca 

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

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein 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. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder,  alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

IsoEnergy Begins Winter Drilling Program at the Hurricane Uranium Zone

Vancouver, BC – IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to report that an aggressive winter drilling program has commenced at the Hurricane zone. The Hurricane zone is a new discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figures 1 & 2).

Drilling Program Summary:

· 8,500 metres planned in approximately 20 drill holes

· Infill drilling to further define 500m long mineralized trend

· Expansion drilling to evaluate potential to expand along-strike both east and west

Craig Parry, President, CEO and Director commented: “IsoEnergy commences 2020 with $7 million in the treasury which sees the company fully funded for our exploration programs this year. We will be drilling at our Hurricane high-grade uranium discovery where mineralization is open along strike and on most sections. We very much look forward to reporting the results of the program over the coming months.”

Steve Blower, Vice President of Exploration commented: “Good cold winter conditions have allowed us to start the winter drilling program on schedule. Crews and equipment have been mobilized to site and the first drill hole has been collared. Two drills are being employed for the first time at the Hurricane zone – one infilling the current 500m long mineralized footprint and expanding it along-strike to the west, and the other focused on expansion of the zone along-strike to the east.”

Program Details

The planned winter core drilling campaign consists of a total of 8,500 m in approximately 20 drill holes. The program has two main objectives – infill and expansion (Figure 3).

One drill will infill the current 500 m long footprint of the Hurricane zone and attempt to expand it to the west, where a 75m gap remains between the westernmost drill hole (LE19-12) and the property boundary. Drill hole LE19-12 intersected 3.2% U3O8 and 2.1% Ni over 8.5m in 2019. Most cross-sections remain open, including section 4635E where drill hole LE19-16A intersected 5.4% U3O8 over 7.0 m. Infill drilling will also target along-strike gaps of up to 250 m between drill sections.

The second drill will evaluate the potential to expand the zone to the east. This will include following up on the strong alteration and elevated geochemistry and radioactivity in step-out drill hole LE19-26 (Figure 4), the only drill hole completed by the Company to date that is beyond the 500m long Hurricane zone footprint. Results from a DC-Resistivity geophysical survey completed in the summer of 2019 support the highly prospective nature of the area, which extends for several kilometres to the east. Drilling metres and holes are expected to be split approximately equally between both objectives. Results of the program will be reported periodically through the winter.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha and is not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July, 2018 and was followed up with a 12-hole drilling campaign in the winter of 2019 and a recently completed 17-hole summer 2019 drilling campaign. Dimensions are currently 500m along-strike, 40m wide and up to 10m thick. The zone is open for expansion along-strike and on most sections. Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface. The best intersection to date is 5.4% U3O8 over 7.0m in drill hole LE19-16A. Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0 m in drill hole Q22-040. Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the major uranium deposits in the eastern Athabasca Basin. Importantly, the sandstone cover on the Property is thin, ranging between 140 m and 330 m in previous drilling. In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Property to date.

Figure 1 – Larocque East Property Map

Figure 2 – Hurricane Zone Drill Hole Location Map

Figure 3 – Winter 2020 Planned Drilling Areas

Figure 4 – Planned Follow-up Drilling on the 5185E Section

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).  Mr. Carmichael has verified the data disclosed.  As mineralized drill holes at the Hurricane zone are oriented very steeply (-80 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths.  This news release refers to properties other than those in which the Company has an interest.  Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.  For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019 on the Company’s profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada and a historical inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut.  IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations.  The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
[email protected]
www.isoenergy.ca

Investor Relations
Kin Communications
+1 604 684 6730
[email protected]
www.isoenergy.ca

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

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein 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. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder,  alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.