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IsoEnergy Responds to Market Activity

Listings & Exchange

IsoEnergy Responds to Market Activity

Vancouver, BC, July 31, 2020 – IsoEnergy Ltd. (“ IsoEnergy” or the “ Company”) (TSXV: ISO; OTCQX: ISENF), at the

request of Investment Industry Regulatory Organization of Canada (“IIROC”), confirms that the Company is unaware

of any material undisclosed change in the Company's business, operations or capital that would account for the

recent increase in market price and level of trading volume of its common shares.

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 t eam 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]

Neither the TSX Venture Exchange nor its Regulation 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.

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 wi th

respect to the proposed Convertible Debenture offering and Private Placement. 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 funds will be available to complete the proposed financings and that all necessary regulatory approvals will be

obtained. 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 antici pated, 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.