IsoEnergy Launches C$50 Million At-The-Market Equity Programme to Preserve Strategic Optionality

• IsoEnergy (NYSE American: ISOU; TSX: ISO) has entered into an equity distribution agreement with Virtu Canada Corp. and Virtu Americas LLC to distribute up to C$50,000,000 in common shares
• The ATM Programme replaces the previous at-the-market facility announced on 2 June 2025, which has been terminated
• The Company reported a cash position of $135.1 million and an equity portfolio of $52.6 million as at 31 December 2025, per its Management's Discussion and Analysis dated 26 February 2026
• Management states the programme is not being established to meet any immediate capital requirement, but rather to preserve optionality for future growth and strategic initiatives
• Net proceeds, if any shares are sold, are intended for general corporate purposes including exploration in the United States and Australia, capital expenditures, and working capital

Programme Structure & Terms

IsoEnergy Ltd. (NYSE American: ISOU; TSX: ISO) announced on 17 April 2026 that it has entered into an equity distribution agreement with Virtu Canada Corp. and Virtu Americas LLC, establishing an ATM Programme under which the Company may distribute up to C$50,000,000 in common shares from time to time. The programme replaces IsoEnergy's previous ATM facility, announced on 2 June 2025, which has since been terminated.

Shares distributed under the ATM Programme may be sold through ordinary brokers' transactions on the NYSE American or the Toronto Stock Exchange, on another qualifying Canadian or US marketplace, or otherwise at prices prevailing at the time of sale, at prices related to prevailing market prices, or at negotiated prices. The volume and timing of any sales remain at the Company's sole discretion, and IsoEnergy is not obligated to sell any shares under the programme.

The ATM Programme has been established pursuant to a prospectus supplement dated 17 April 2026 filed with securities regulatory authorities across Canadian provinces and territories, and a corresponding US prospectus supplement filed with the SEC on the same date, both under shelf documentation originally filed on 13 January 2026. The TSX has conditionally approved the listing of shares issuable under the programme; IsoEnergy has applied for NYSE American authorisation for the same.

Management Commentary

Philip Williams, CEO and Director of IsoEnergy, stated:

"Maintaining an at-the-market equity program provides IsoEnergy with additional financial flexibility and an efficient supplemental capital markets tool that can be used selectively, if and when appropriate. With a strong cash position of $135.1 million and equity portfolio of $52.6 million, we are well funded to execute on our current plans, and the ATM Program is not being established to address any immediate capital requirements. Instead, it preserves optionality, allowing the Company to act opportunistically in support of future growth, strategic initiatives, and balance sheet strength."

Use of Proceeds & Financial Position

The Company's cash position stood at $135.1 million as at 31 December 2025, as disclosed in IsoEnergy's Management's Discussion and Analysis dated 26 February 2026. Its equity portfolio, valued at $52.6 million as at the same date, consists of marketable securities in NexGen Energy Ltd., Premier American Uranium Inc., Atha Energy Corp., Jaguar Uranium Corp., Toro Energy Limited, Purepoint Uranium Group Inc., Future Fuels Inc., Royal Uranium Inc., Verdera Energy Corp., and Biondi Ventures Inc., per IsoEnergy's Audited Consolidated Financial Statements for the year ended 31 December 2025.

Should any shares be sold, the Company intends to apply net proceeds toward general corporate purposes, which may include funding corporate and project overhead expenses, financing capital expenditures, repayment of indebtedness, technical studies and exploration in the United States and Australia, and additions to working capital.

Next Steps

The ATM Programme will remain effective until either all distributable common shares have been issued and sold, or the programme is otherwise terminated under the terms of the distribution agreement. NYSE American authorisation for the listing of shares issuable under the programme remains pending.

IsoEnergy has stated its intention to use proceeds, where raised, to advance exploration in the United States and Australia and to support its 2026 work programmes, though no specific timelines or milestones were disclosed in connection with this announcement.

About IsoEnergy Ltd.

IsoEnergy (NYSE American: ISOU; TSX: ISO) is a globally diversified uranium company with mineral resources across Canada, the United States, and Australia at varying stages of development. The Company is advancing its Larocque East project in Saskatchewan's Athabasca Basin, home to the Hurricane deposit, which holds the world's highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah, currently on standby with a toll milling arrangement in place with Energy Fuels, positioned for near-term restart as market conditions allow.

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