Change in substantial holding

IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) ("IsoEnergy") and Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") are pleased to announce the successful implementation of their previously announced joint venture (the "Joint Venture") (see press release dated October 22, 2024), consolidating 10 uranium projects spanning over 98,000 hectares in the eastern Athabasca Basin, Saskatchewan (Figure 1). This strategic collaboration strengthens both companies' efforts to advance high-potential uranium assets in one of the world's premier uranium-producing regions.

The joint venture establishes an initial ownership structure of 60% by IsoEnergy and 40% by Purepoint, with the option to adjust to a 50/50 split through the exercise of put/call options (the "Put/Call Option") pursuant to which 10% of IsoEnergy's initial participation interest may be transferred to Purepoint in exchange for 4,000,000 common shares of Purepoint (the "PTU Shares"). The Put/Call Option is exercisable within six months of the Joint Venture's formation, with the exercise of one option resulting in the expiry of the other. Following completion of the Put/Call Option period, IsoEnergy will hold a further option to purchase an additional 1% interest from Purepoint for $2 million, giving IsoEnergy a 51% participation interest and Purepoint a 49% participation interest. This option expires on the earlier of February 28, 2026, or 60 days after a material uranium discovery. The ownership interests of each company are subject to standard dilution, with any participation interest that is reduced to 10% or less being automatically exchanged for a 2% net smelter royalty (NSR) on the Joint Venture properties.