IsoEnergy to Settle Portion of Interest Payment in Shares and Receives Shareholder and TSXV Approval of Consolidated Uranium Option to Acquire Mountain Lake Property
IsoEnergy to Settle Portion of Interest Payment in Shares and Receives
Shareholder and TSXV Approval of Consolidated Uranium Option to
Acquire Mountain Lake Property
Vancouver, BC, December 29, 2021 – IsoEnergy Ltd. (“ IsoEnergy” or the “ Company”) ( TSXV: ISO; OTCQX:
ISENF) has agreed to settle a portion of the in terest payment due to Queen’s Road Capital Investment Ltd.
(“QRC”) (TSXV: QRC) as at December 31, 2021. Pursuant to the unsecured convertible debenture dated August
18, 2020 between QRC and the Company (the “Debenture”), as at December 31, 2021, the Company will owe
QRC interest in the amount of US$255,000 of which US$75,000 will be settled with the issuance of 23,076
common shares of the Company (“Shares”), at a deemed price of US$3.25.
Under the terms of the Debenture, the portion of the interest payable to QRC equal to 2.5% per annum is
payable in Shares at a price per Share equal to the volume -weighted average trading price per Share on the
TSX Venture Exchange (“TSXV”) for the twenty consecutive trading days ending 3 trading days prior to the date
such interest is due. The portion of the interest payable to QRC equal to 6.0% per annum is payable in cash. The
issuance of the Shares to QRC is subject to TSXV acceptance.
Mountain Lake Uranium Property
IsoEnergy also announces that it has received shareholder and TSXV approval for its July 2020 agreement with
Consolidated Uranium Inc. (TSXV: CUR) (“CUR”) (Formerly International Consolidated Uranium and NxGold
Ltd.) to grant CUR the option to acquire a 100% interest in IsoEnergy’s Mountain Lake uraniu m property in
Nunavut, Canada (“Option Agreement”). For further details regarding the Option Agreement please refer to
the Company’s July 16, 2020 press release.
Historical Mineral Resource
The Mountain Lake property contains a historical inferred mineral resource estimate of 8.2 million pounds U3O8
with an average grade of 0.23% U 3O8 contained in 1.6 million tonnes of mineralization. The estimate was
reported in the technical report entitled “Mountain Lake Property, Nunavut” prepared for Triex and dated
February 15, 2005. This resource is a historical estimate, and a qualified person has not done sufficient work
to classify the historical estimate as current mineral resources. As a result, the historical estimate is not being
treated as a current mineral resource. However, the Company believes that the historical estimate is relevant
and reliable, as it was prepared by a Qualified Person (as defined in National Instrument 43-101 – Standards of
Disclosure for Mineral Projects) with significant experience on the project, using methods that were standard
in the industry. In order to upgrade or verify the historical estimate as current mineral resources, the Company
anticipates that it will need to incorporate the drilling data collected by Triex and Pitchstone in 2006-2008. The
historical resource uses the “inferred mineral resource” category set out in section 1.2 of National Instrument
43-101. There are no more recent estimates available to the Company.
The historical estimate was prepared with the polygonal method using only intervals greater than 0.1% U 3O8
with a vertical thickness of at least 1.0 metre. Polygon sides were determined by drawing lines perpendicular
to, and one half the distance to each adjacent drill hole. Estimated uranium was then obtained by multiplying
the polygon areas by their thickness, a specific gravity of 2.5, and the grade of the drill hole interval. The mineral
resource was classified as inferred.
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by Andy Carmichael,
P.Geo., IsoEnergy’s Vice Presiden t, Exploration, 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 (-70 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 Repor t 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.
Tim Gabruch
Chief Executive Officer
IsoEnergy Ltd.
www.isoenergy.ca
Investor Relations
Kin Communications
+1 604 684 6730
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.