Corporate Update: Growing Land Package and Discovery of High- Grade Uranium as Uranium Bull Market Conditions Emerge
Corporate Update: Growing Land Package and Discovery of High-
Grade Uranium as Uranium Bull Market Conditions Emerge
Vancouver, BC, September 25, 2018 – IsoEnergy Ltd. (“IsoEnergy” or the “ Company”) (TSXV: ISO; OTCQX:
ISENF) is pleased to provide the market with a corporate update.
Building on a Portfolio of High-Impact Uranium Projects in the Athabasca Basin
IsoEnergy was founded by Chairman Leigh Curyer, Chief Executive Officer Craig Parry and the Board of
NexGen Energy Ltd ( NYSE: NXE; TSX: NXE) in 2016 to advance and build on NexGen’s highly prospe ctive
projects in the eastern Athabasca Basin, Saskatchewan, Canada. With the support of NexGen, its Board and
team, IsoEnergy has continued to expand our land position and actively explore our properties in the region.
Since its inception IsoEnergy has rapidly executed on its strategy of acquisition and exploration of highly -
prospective projects with a strong focus on the eastern Athabasca, home to the largest and highest -grade
uranium mines in the world. Starting with five properties covering 6,067 hectares acquired from NexGen w e
have either acquired at low-cost or staked a further 8 properties and expanded the land package more than
ten-fold to 70,800 hectares. Where the Company continues to see value, it intends to continue to grow the
land package.
The focus continues to be on the eastern Athabasca Basin in Saskatchewan. IsoEnergy takes the view that
Saskatchewan is one of the best regions in the world to explore, develop and operate a mine, and the
Athabasca Basin is the best place in the world for uranium production. Saskatchewan consistently ranks first
or second globally in the Fraser Institute Survey of Mining and Exploration jurisdictions. The Athabasca Basin
plays host to the largest and highest -grade uranium mines in the world. The typica l grade of the uranium
mines in the Athabasca Basin is orders of magnitude greater than those elsewhere in the world.
Apart from size and grade of the deposits there, the other key benefit of exploring in the Athabasca Basin is
that the region has all of the key needs for exploration, development and mining in place and is readily
accessible. This includes all key infrastructure such as mills, roads, power lines and, most importantly, people
with a wealth of experience in mining. Moreover, the Government of Saskatchewan is supportive of uranium
mining.
IsoEnergy will continue its successful program of corporate development adding to its portfolio of
prospective properties in the eastern Athabasca at bottom-of-market prices.
Exploration Approach
IsoEnergy follows the same approach and principals to exploration as NexGen which led to great success in
the discovery of the world -class Arrow uranium deposit. We have a team primarily made up of exploration
geologists with a track record in exploration success. All full -time staff at IsoEnergy: CEO Craig Parry, VP
Exploration Steve Blower, Senior Geologist Andy Carmichael and Geologist Justin Rodko are exploration
geologists with strong experience in uranium exploration.
This team is focused on identifying, acquiring and exploring uranium projects in the eastern Athabasca -
home to the greatest concentration of high -grade uranium mineralization on the planet. In IsoEnergy’s first
months of existence the Company undertook a n Athabasca Basin wide targetin g program which ranked and
prioritized all of the more than 700 properties over the eastern part of the basin on geological, exploration
and commercial criteria. This resulted in the development of a comprehensive prioritized target list and a
short list of twenty key targets.
The Company has since that time worked to acquire the properties on that list with the highest rank and
priority. We have been successful in this endeavor however there is more work to be done and additional
properties to be secured. The current portfolio of properties is characterized by the presence of large strike -
extents of conductive rock units that typically host high -grade uranium deposits. Many of the properties are
characterized by the presence of historic drill holes that have intersected mineralization that has never been
effectively followed up by more drilling.
This has given the Company many “walk -up” drill targets where much of the early and costly exploration
work has been done and where the highest -impact work can be quickly undertake n – i.e. drilling. This also
allows IsoEnergy to direct the bulk of its investor’s money into drilling which gives the greatest probability of
discovery.
Crucially the team at IsoEnergy has a strong background in exploring for a nd drilling high -grade basement
hosted mineralization such as that at NexGen’s Arrow deposit and Denison Mines’ Gryphon Deposit.
IsoEnergy believes that much of the eastern Athabasca has never been effectively explored for this basement
hosted style of min eralization and as NexGen’s Arrow deposit is fast demonstrating , these deposits are the
best uranium deposit styles to discover and develop. The vast majority of the past drilling done in the eastern
Athabasca stopped at shallow depth s below the sub-Athabasca unconformity and so most of the eastern
Athabasca remains untested for basement hosted deposits and IsoEnergy is employing this model in its
efforts to find the “Arrow” of the eastern Athabasca uranium district.
High-Grade Uranium Discovery at Larocque East
IsoEnergy’s approach to business development and exploration is exemplified by our Larocque East project.
The property was acquired from Cameco for $20,000 cash and $300,000 in IsoEnergy shares in May 2018.
Upon closing of the transaction, a drill rig was immediately mobilized to test our highest priority target. The
company met with immediate success, discovering a zone of high -grade uranium mineralization . A
broad, 8.5-metre-long interval of highly elevated radioactivity (see news release dated July 25,
2018), averages 1.26% U3O8 (above a cutoff of 0.1% U3O8) and includes a higher-grade subinterval of 3.58%
U3O8 over 2.5 metres . Within the higher -grade subinterval is a zone of off -scale radioactivity (>15,000 cps
on an SRAT SPP2 scintillo meter (the “SPP2”)) that averages 6.45% U3O8 over 1.0 metre . This new zone of
mineralization, named the Hurricane zone sits 6 kilometres along strike from Cameco’s Larocque Zone of
mineralization where it has previously drilled 29.9% U3O8 over 7.0 metres.
The setting for this high -grade intercept — at and over the geological unconformity beneath the Athabasca
Sandstone — and the nature of the target there has similarities to those found in the world’s highest -grade
deposits and largest mines including MacArthur River and Cigar Lake. The Company has now defined a series
of high-priority targets and areas that warrant testing at Hurricane and we are presently working on
preparation for a drill program to follow up these promising results.
Supportive Shareholders
The Company continues to receive strong support from NexGen. NexGen has over $140 million in the bank
and participated in IsoEnergy’s last financing. NexGen owns 59 percent of the Company. In addition to this
key shareholder, IsoEnergy counts Cameco Corp. (NYSE: CCJ; TSX: CCO) which owns 7% of the Company and
Orano Canada Inc. as significant shareholders.
What we provide to these companies and all our shareholders is exposure to highly -prospective projects,
managed and explored by a team with a track record of uranium exploration success. Our access to deals,
capital and our aggressive approach to acquisitions and exploration are what sets the Company up as a major
beneficiary of a return to strong uranium market conditions.
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by Steve Blower, P.Geo.,
IsoEnergy’s Vice President, Exploration, who is a “qualified person” (as defined in National Instrument 43-101
– Standards of Disclosure for Mineral Projects). Mr. Blower has verified the data disclosed. This news release
refers to properties other than those in which the Company has an interest. Mineralization on those other
properties is not necessarily indicative of mineralization on the Company’s properties. As drill hole LE18-01A
was drilled steeply at -70 degrees and the mineralization is interpreted to be horizontal, the true thickness is
expected to be approximately 90% of the cored intervals.
Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
www.isoenergy.ca
Investor Relations
Kin Communications
+1 604 684 6730
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 s ale 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. Securi ties 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 con tained 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 connot ation 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 s tatements 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 con ditions
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 p lanned 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 p eriods 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 ke y 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 equ ipment 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 t hose 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