Uraniumx Completes Acquisition of the Dieter Lake Uranium Project; Isoenergy Becomes Strategic Shareholder
URANIUMX COMPLETES ACQUISITION OF THE DIETER LAKE URANIUM
PROJECT; ISOENERGY BECOMES STRATEGIC SHAREHOLDER
VANCOUVER, BC / August 20, 2026 / UraniumX Discovery Corp. (CSE: STMN) (OTCQB:
STMXF) (FSE: Q7S) (“UraniumX ” or the “ Company”) is pleased to announce that it has
completed its previously announced acquisition of a 100% interest in the Dieter Lake uranium
project (“Dieter Lake” or the “ Property”) in North -Central Quebec from Consolidated Uranium
Inc. (“ Consolidated Uranium ”), a wholly owned subsidiary of IsoEnergy Ltd. (“ IsoEnergy”),
pursuant to the definitive asset purchase agreement dated July 8, 2026 announced on July 10,
2026 (the “ Transaction”). With closing, UraniumX holds uranium projects in two Canadian
jurisdictions: Saskatchewan and Quebec.
Transaction Highlights
• IsoEnergy becomes a strategic shareholder. Consolidated Uranium now holds
18,000,000 common shares of UraniumX (the “ Consideration Shares”), representing
approximately 15.2% of the issued and outstanding common shares on a non-diluted
basis, with the right to nominate one director and with participation and top-up rights under
an investor rights agreement entered into at closing. IsoEnergy, indirectly through
Consolidated Uranium, is now an insider of the Company.
• A 24.4-million-pound historical estimate, acquired for no cash. Dieter Lake hosts a
historical estimate of 19.3 million tonnes at an average grade of 0.057% U3O8, containing
approximately 24.4 million lbs U3O8 (see cautionary statements below). 1 The
consideration consists entirely of shares, and a 2.0% net smelter returns royalty; no cash
was payable and no finder's fees were paid.
• A second Canadian uranium jurisdiction. Dieter Lake adds 168 claims over
approximately 8,106 hectares in North-Central Quebec, alongside the Company's
Athabasca Basin ground in Saskatchewan. Mineralization is traced over approximately 6
km of strike, open to the southwest, and the majority of the Property has seen little or no
modern drilling.2
Consideration and Resulting Ownership
In consideration for the Property, the Company issued 18,000,000 Consideration Shares at a
deemed price of $0.10 per share and granted Consolidated Uranium a 2.0% net smelter returns
royalty on all production from the Property. No cash consideration was payable and no finder's
fees were paid in connection with the Transaction.
The Consideration Shares are subject to a statutory hold period of four months and one day from
the date of issue and to a voluntary lock-up releasing 25% of the Consideration Shares on each
of the four, eight, twelve and sixteen month anniversaries of closing.
Under the investor rights agreement entered into at closing, Consolidated Uranium has the right
to nominate one director to the UraniumX board for so long as it maintains a 5.0% partially diluted
ownership interest, together with a participation right in future equity issuances and top-up rights
to maintain its pro rata ownership, on customary terms.
“Closing this transaction makes UraniumX a two-jurisdiction Canadian uranium company and
brings IsoEnergy onto our register as a long-term strategic shareholder. Our near -term work at
Dieter Lake is straightforward: verify the historical database and drill to test it. We thank IsoEnergy
for its conviction in this team” said Esen Boldkhuu, Chief Executive Officer of UraniumX.
The Dieter Lake Property and Historical Estimate
Dieter Lake is located in North-Central Quebec, within the Gayot Lake basin, and comprises 168
map-designated mineral claims covering approximately 8,106 hectares as a single contiguous
block.2 Uranium mineralization occurs as fine-grained pitchblende within a stratabound shale-
wacke horizon of the Sakami Formation, traced over approximately 6 km of strike in four zones
(Vivian, Nancy I and II, and Bert's) that remain open to the southwest. The Property hosts a
historical mineral resource estimate of 19.3 million tonnes at an average grade of 0.057% U3O8,
containing approximately 24.4 million pounds U3O8 (the “Historical Estimate”).1
The Historical Estimate is dated 2006 and was reported by Fission Energy Corp. in a technical
report entitled “Technical Report on the Dieter Lake Property, Quebec, Canada” dated October
7, 2011.3 The Historical Estimate was prepared by Davis & Guo using the Thiessen (Voronoi)
polygon method, applying data constraints of 200 ppm, 500 ppm and 1,000 ppm U3O8 over a
minimum thickness of 1 metre, polygons with radii of 200 metres, and a rock density of 2.67
g/cm3. The reported tonnage, grade and contained metal are as disclosed in the 2011 technical
report.
The Historical Estimate was not prepared in accordance with, and does not use, the mineral
resource categories set out in the CIM Definition Standards (2014); no current mineral resource
category applies. The Company considers the Historical Estimate relevant as an indication of the
scale of the uranium mineralization identified to date on the Property, and considers it reliable in
that it was prepared by professional geologists using methods standard at the time and was
reported in a technical report prepared for a reporting issuer. More recent exploration data
available to the Company comprise a 2025 heliborne magnetic survey and a 2023 alteration-
mineral study, in each case as disclosed by IsoEnergy.2
Verification of the Historical Estimate as a current mineral resource would require, among other
things, data verification and confirmation drilling, including twinning of historical drill holes, and
the preparation of a new technical report under National Instrument 43-101. A qualified person
has not done sufficient work to classify the Historical Estimate as a current mineral resource, and
UraniumX is not treating the Historical Estimate as a current mineral resource. There is no
assurance that further exploration will result in the definition of a current mineral resource.
Next Steps
The Company's objective is to advance Dieter Lake toward a current mineral resource estimate.
The Company intends to undertake compilation and verification of the historical drill database and
confirmation drilling of selected historical holes.
Expansion potential exists on several fronts. The mineralized horizon is traced over approximately
6 km through four zones (Vivian, Nancy I and II, and Bert's) and remains open to the southwest.
A 2025 heliborne magnetic survey and the 2023 alteration- mineral study generated additional
untested targets on the Property. The majority of the 8,106-hectare Property has seen little or no
modern drilling. Within the historical model, higher cut-off grades defined higher -grade subsets -
approximately 6.8 million tonnes at 0.108% U3O8 at a 500 ppm cut-off, as reported in the 2011
technical report - subject to the same cautionary statements as the Historical Estimate1. There is
no assurance that exploration will result in a current mineral resource.
Early Warning Disclosure
Prior to the completion of the Transaction, Consolidated Uranium held no securities of UraniumX.
Following completion of the Transaction, Consolidated Uranium beneficially owns 18 ,000,000
Consideration Shares, representing approximately 15.2% of the issued and outstanding common
shares of the Company on a non-diluted basis .
While Consolidated Uranium currently has no plans or intentions with respect to the
Consideration Shares, Consolidated Uranium may develop such plans or intentions in the future
and, at such time, may from time to time acquire additional securities, dispose of some or all of
the existing or additional securities or may continue to hold the Consideration Shares or other
securities of UraniumX based on market conditions, general economic and industry conditions,
trading prices of UraniumX ’s securities, UraniumX’s business, financial condition and prospects
and/or other relevant factors.
A copy of the early warning report filed by Consolidated Uranium will be available under the
Company’s profile on SEDAR+ at www.sedarplus.ca or by contacting Graham du Preez, Chief
Financial Officer of Consolidated Uranium, at 306-373-6399. Consolidated Uranium’s head office
is located at 217 Queen St. West, Suite 401, Toronto, Ontario, M5V 0R2.
About IsoEnergy Ltd.
IsoEnergy Ltd. (TSX: ISO; NYSE American: ISOU) is a globally diversified uranium company with
current and historical mineral resources in uranium mining jurisdictions of Canada, the U.S. and
Australia at varying stages of development. 4 The Company's Qualified Person has not verified,
and the Company is not treating as its own, mineral resource information disclosed by IsoEnergy
in respect of IsoEnergy's properties, and that information is not necessarily indicative of
mineralization on any UraniumX property.
Qualified Person
Ken Wheatley, P.Geo., a consultant of the Company and a Qualified Person as defined by
National Instrument 43-101, has reviewed and approved the scientific and technical information
in this news release. The Qualified Person has not verified the data under lying the Historical
Estimate, and the Company is not treating the Historical Estimate as a current mineral resource.
About UraniumX
UraniumX Discovery Corp. is a Canadian-based junior uranium exploration and development
company. Its flagship Murphy Lake Uranium Property is in the northeastern Athabasca Basin,
Saskatchewan, where UraniumX is earning up to a 70% interest through an option agreement
with F4 Uranium Corp. The Company also holds a 100% interest in the Zoo Bay uranium property
in the Athabasca Basin and, following the Transaction, a 100% interest in the Dieter Lake uranium
project in North-Central Quebec.
On Behalf of UraniumX Discovery Corp.
Esen Boldkhuu, CEO
Contact:
UraniumX Discovery Corp.
Esen Boldkhuu, CEO
Direct: (604) 377-8994
Email: [email protected]
Web: www.uraniumx.ca
Forward-Looking Statements
This news release contains “forward- looking information” and “forward- looking statements” (collectively,
“forward-looking statements”) within the meaning of applicable Canadian securities legislation. Forward-
looking statements in this news release include, but are not limited to, statements regarding the preparation
and timing of an updated technical report, planned compilation, verification and confirmation drilling at
Dieter Lake, the potential for the Historical Estimate to be verified as a current mineral resource, the
exercise of rights under the investor rights agreement, and the Company's business plans and objectives.
Forward-looking statements are based on the expectations, estimates and projections of management as
at the date of this news release and are subject to known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially, including: the results of exploration activities; the risk that
the Historical Estimate is not verified as a current mineral resource; risks related to uranium exploration and
development in Quebec, including permitting and social acceptability considerations; general business,
economic, competitive, political and social uncertainties; and the inability to secure financing. Reader s
should not place undue reliance on forward- looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this news release. Neither the Canadian
Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notes and Sources
1. Historical Estimate dated 2006, reported by Fission Energy Corp. in a technical report dated October 7, 2011; source,
method and parameters are set out under “The Dieter Lake Property and Historical Estimate” above. No current CIM
mineral resource category applies. A qualified person has not done sufficient work to classify the Historical Estimate
as a current mineral resource and UraniumX is not treating the Historical Estimate as a current mineral resource.
Figures are rounded.
2. Claim count, property area and historical exploration information are derived from the 2011 technical report
referenced below and from IsoEnergy's disclosure regarding the Dieter Lake project; the 2025 heliborne magnetic
survey and the 2023 alteration-mineral study are as disclosed by IsoEnergy, available at www.isoenergy.ca.
3. The 2011 technical report is available under Fission Energy Corp.'s issuer profile on SEDAR+ at www.sedarplus.ca.
4. See IsoEnergy's continuous disclosure, available at www.isoenergy.ca and under IsoEnergy's profile on SEDAR+ at
www.sedarplus.ca.
5. See the Company's continuous disclosure regarding the Murphy Lake and Zoo Bay properties, available under its
profile on SEDAR+ at www.sedarplus.ca.