TORONTO, Oct. 22, 2024 /PRNewswire/ – IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) (“IsoEnergy“) and Purepoint Uranium Workforce Inc. (TSXV: PTU) (OTCQB: PTUUF) (“Purepoint“) are happy to announce that they’ve entered right into a contribution guarantee in reference to the founding of a three way partnership (the “Joint Venture“) for the exploration and advancement of a portfolio of uranium homes in northern Saskatchewan’s Athabasca Basin. Each corporations will give a contribution property from their respective portfolios to the Joint Mission, which can include 10 tasks masking greater than 98,000 hectares within the east facet of the Athabasca Basin and can leverage their respective experience to capitalize at the vital possible of those homes.

Transaction Highlights

• Joint Mission Portfolio – The Joint Mission might be constituted of 10 tasks inside the japanese Athabasca Basin (Determine 1) together with:
• IsoEnergy’s Geiger, Thorburn Pool, Complete Moon, Edge, Collins Bay Extension, North Thorburn, 2Z Pool, and Madison Tasks.
• Purepoint’s Turnor Pool and Purple Willow Tasks.
• Complementary and Potential Garden Masking the Larocque Development with Robust Discovery Doable – The Larocque Development (“Larocque Trend“), is an remarkable regional construction that hosts the world-class Typhoon locker and alternative impressive high-grade occurrences, together with the ones on Cameco/Orano’s Break of day Pool three way partnership. The fad extends onto the Turnor Pool and Complete Moon Tasks, positioning the Joint Mission alongside a confirmed hall for uranium mineralization, the place additional discoveries may well be expedited (Determine 2).
• Strategic Synergy and Reinforced Positioning via Fairness Participation – IsoEnergy will subscribe for $1.0 million in concurrent fairness financing of Purepoint. Via this fairness stake, IsoEnergy will acquire publicity to Purepoint’s alternative extremely potential exploration tasks within the Athabasca Basin, together with Hook Pool, which up to now intersected an remarkable 10 meters at 10.3% U₃O₈. In flip, Purepoint will have the benefit of IsoEnergy’s monetary and technical assistance, enabling each corporations to paintings collaboratively to boost up challenge advancement and pressure long-term luck.
• Preliminary Possession Construction and Working Phrases – IsoEnergy will to begin with conserve a 60% hobby within the Joint Mission, age Purepoint will conserve a 40% hobby. Every birthday celebration has the strategy to alter this possession to 50/50 inside of six months during the workout of mutually unique put/name choices. Purepoint will grant because the operator right through the exploration segment of the Joint Mission homes. Upon the development into the pre-development segment, IsoEnergy will think operational keep an eye on of the Joint Mission homes.

Philip Williams, CEO and Director of IsoEnergy, commented: “We are excited to announce formation of this Joint Venture with Purepoint and see many advantages for both companies. Together, the Joint Venture projects consolidate a large land position immediately to the east of the Larocque East project, which includes several kilometres of the highly prospective Larocque trend. Purepoint has proven itself an exceedingly capable operator and the Joint Venture will allow us to have several of our highly prospective projects advanced, while remaining focused on dual priorities of exploring and advancing the Larocque East project, host to the high-grade Hurricane Deposit, and restarting our past producing uranium mines in Utah. By combining our complementary project portfolios and leveraging our collective expertise, we believe we are well-positioned to accelerate discoveries and create value for our shareholders.”

Chris Frostad, President and CEO of Purepoint, added: “With this Joint Venture, the majority of Purepoint’s most significant projects are now being advanced within partnerships alongside some of the uranium sector’s strongest players. This collaboration underscores the confidence our partners, including Cameco, Orano, Foran Mining and now IsoEnergy, have in the potential of these projects, and it further solidifies Purepoint’s position at the forefront of uranium exploration in the Athabasca Basin. By combining forces and pooling resources, we are accelerating exploration efforts and setting the stage for potential large-scale discoveries that can meet the growing demand for clean energy. We look forward to leveraging the technical and financial strengths of our partners as we continue to operate these district-scale projects and drive them towards success.”

Determine 1: Joint Mission Portfolio, together with 10 Tasks Masking Extra Than 98,000 Hectares within the Athabasca Basin.

Determine 2: Complementary and Potential Garden Masking the Larocque Development with Robust Discovery Doable

Joint Mission Phrases

The Joint Mission might be ruled via a proper three way partnership guarantee to be entered into between the corporations at the same time as with the efficient formation of the Joint Mission. Below the guarantee:

• IsoEnergy will give a contribution its Geiger, Thorburn Pool, Complete Moon, Edge, Collins Bay, North Thorburn, 2Z Pool, and Madison Tasks in change for an preliminary 60% participation hobby within the Joint Mission.
• Purepoint will give a contribution its Turnor Pool and Purple Willow Tasks in change for an preliminary 40% participation hobby within the Joint Mission.
• IsoEnergy can have a put strategy to promote, and Purepoint can have a decision strategy to achieve, 10% of IsoEnergy’s preliminary participation hobby, expanding Purepoint’s stake to 50% in change for 4,000,000 post-Consolidation Purepoint stocks (as outlined under). This feature is exercisable inside of six months of the Joint Mission’s formation, with the workout of 1 possibility to bring about the expiry of the alternative. If exercised, each events will conserve equivalent 50/50 participation pursuits within the Joint Mission.
• Then the put/name possibility length, IsoEnergy will conserve an additional possibility to buy an extra 1% hobby from Purepoint for $2 million, giving IsoEnergy a 51% participation hobby and Purepoint a 49% participation hobby. This feature expires at the previous of February 28, 2026, or 60 days nearest a subject material uranium discovery.
• The possession pursuits of each and every corporate are topic to plain dilution if a birthday celebration fails to give a contribution to licensed Joint Mission techniques or expenditures. If both birthday celebration’s hobby is decreased to ten% or much less, that birthday celebration will relinquish its complete hobby within the Joint Mission in change for a 2% internet smelter royalty (NSR) at the Joint Mission homes. The difference birthday celebration should purchase 1% of the NSR for $2 million.
• If some of the events seeks to promote its participation hobby within the Joint Mission, such birthday celebration would possibly power the alternative birthday celebration to promote its participation hobby within the Joint Mission as long as the promoting birthday celebration’s participation hobby is the same as 60% or better.
• Purepoint will operate as operator for all Joint Mission homes within the exploration segment, leveraging its in depth experience and deep working out of the Athabasca Basin. As soon as the Joint Mission homes walk to the pre-development level, IsoEnergy will think the position of operator.

Purepoint Percentage Consolidation and Concurrent Financing

In reference to the transaction, Purepoint will consolidate its stocks on a ten:1 foundation (the “Consolidation“).  Purepoint these days has 500,772,765 regular stocks issued and exceptional. Then giving impact to the Consolidation, Purepoint can have roughly 50,077,277 issued and exceptional post-consolidation regular stocks. The Consolidation has been licensed via the Purepoint Board of Administrators and used to be licensed via Purepoint’s shareholders at its Annual Normal and Particular Assembly hung on June 4, 2024. The Consolidation extra topic to benevolence via the TSX Mission Alternate (the “TSXV“).

At the side of the Consolidation, Purepoint plans to finish a non-brokered non-public placement providing of as much as 6,666,667 devices at a worth of $0.30 according to unit, for rude proceeds of as much as $2,000,000 (the “Concurrent Financing“). Every unit will consist of 1 post-Consolidation proportion and one warrant exercisable at $0.40 to procure one post-Consolidation proportion for a length of 3 years. IsoEnergy will subscribe for $1.0 million of this financing, underscoring its constancy to the Joint Mission’s exploration plans. IsoEnergy might be granted the appropriate, for as long as it owns a minimum of 10% of the post-Consolidation stocks of Purepoint (on a in part diluted foundation), to take part in any presen fairness financing of Purepoint to deliver to preserve its professional rata hobby in Purepoint. The web proceeds of the Concurrent Financing might be worn via Purepoint for common operating capital functions

The transactions, together with the formation of the Joint Mission, the Consolidation, and Concurrent Financing (in combination the “Transactions“), extra topic to benevolence via the TSXV. The Joint Mission will remove impact following the delight of sure situations, together with however no longer restricted to the crowning glory of the Consolidation, endmost of the Concurrent Financing, and receipt of all vital regulatory approvals, together with benevolence of the TSXV.

About IsoEnergy Ltd.

IsoEnergy is a important, globally varied uranium corporate with really extensive flow and historic mineral assets in govern uranium mining jurisdictions of Canada, the U.S. and Australia at various levels of advancement, offering near-, medium- and long-term leverage to emerging uranium costs. IsoEnergy is these days advancing its Larocque East challenge in Canada’s Athabasca basin, which is house to the Typhoon locker, boasting the area’s highest-grade indicated uranium mineral useful resource.

IsoEnergy additionally holds a portfolio of approved past-producing, standard uranium and vanadium mines in Utah with a toll milling association in playground with Power Fuels. Those mines are these days on standby, able for fast restart as marketplace situations allow, positioning IsoEnergy as a near-term uranium manufacturer.

About Purepoint Uranium Workforce Inc.

Purepoint Uranium Workforce Inc. (TSXV: PTU) (OTCQB: PTUUF) is a centered explorer with a dynamic portfolio of complex tasks inside the famend Athabasca Basin in Canada. Essentially the most potential tasks are actively operated by and for partnerships with business leaders together with Cameco Company, Orano Canada Inc. and IsoEnergy Ltd.

Moreover, the Corporate holds a promising VHMS challenge these days optioned to and strategically located adjoining to and on pattern with Foran Company’s McIlvena Bay challenge. Via a strong and proactive exploration technique, Purepoint is solidifying its place as a important explorer in some of the globe’s most vital uranium districts.

Neither the Alternate nor its Legislation Services and products Supplier (as that word is outlined within the insurance policies of the Alternate) accepts accountability for the adequacy or accuracy of this Press leave.

Disclosure relating to forward-looking statements

This press leave comprises “forward-looking information” inside the which means of appropriate Canadian securities regulation. Usually, forward-looking knowledge may also be known via the significance of forward-looking terminology corresponding to “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or permutations of such phrases and words or surrounding that sure movements, occasions or effects “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. This forward-looking knowledge would possibly relate to the Transactions, together with statements with recognize to the crowning glory of the Transactions; the predicted advantages of the Joint Mission to the events and their respective shareholders; the anticipated receipt of regulatory and alternative approvals with regards to the Transactions; the anticipated possession pursuits of and Purepoint within the Joint Mission; the possibilities of each and every corporate’s respective tasks, together with mineralization of each and every challenge; the potential of, luck of and expected timing of graduation of presen exploration and advancement of the Joint Mission tasks; the anticipated rude proceeds of the Concurrent Financing and the predicted significance thereof; and any alternative actions, occasions or tendencies that the corporations be expecting or watch for will or would possibly happen going forward.

Ahead-looking statements are essentially based totally upon a variety of guesses that, age thought to be cheap via control on the pace, are inherently topic to trade, marketplace and financial dangers, uncertainties and contingencies that can purpose fresh effects, efficiency or achievements to be materially other from the ones expressed or implied via forward-looking statements. Such guesses come with, however don’t seem to be restricted to, guesses that IsoEnergy and Purepoint will entire the Transactions based on the phrases and situations of the related contracts; that the events will obtain the desired regulatory approvals and can fulfill, in a well timed way, the alternative situations to crowning glory of the Transactions; the accuracy of control’s evaluation of the consequences of the a hit crowning glory of the Joint Mission and that the predicted advantages of the Joint Mission might be discovered; the predicted mineralization of IsoEnergy’s and Purepoint’s tasks being in step with expectancies and the possible advantages from such tasks and any upside from such tasks; the cost of uranium; that common trade and financial situations won’t alternate in a materially opposed way; that financing might be to be had if and when wanted and on cheap phrases; and that 3rd birthday celebration contractors, apparatus and provides and governmental and alternative approvals required to habits the Joint Mission’s deliberate actions might be to be had on cheap phrases and in a well timed way. Even though each and every of IsoEnergy and Purepoint have tried to spot remarkable elements that would purpose fresh effects to range materially from the ones contained in forward-looking knowledge, there could also be alternative elements that purpose effects to not be as expected, estimated or meant. There may also be deny commitment that such knowledge will end up to be correct, as fresh effects and presen occasions may just range materially from the ones expected in such statements. Accordingly, readers must no longer playground undue reliance on forward-looking knowledge.

Such statements constitute the flow perspectives of IsoEnergy and Purepoint with recognize to presen occasions and are essentially based totally upon a variety of guesses and estimates that, age thought to be cheap via IsoEnergy and Purepoint, are inherently topic to vital trade, financial, aggressive, political and social dangers, contingencies and uncertainties. Dangers and uncertainties come with, however don’t seem to be restricted to please see: the lack of IsoEnergy and Purepoint to finish the Transactions; a subject material opposed alternate within the timing of and the phrases and situations upon which the Transactions are finished; the lack to fulfill or waive all situations to crowning glory of the Transactions; the failure to procure regulatory approvals in reference to the Transactions; the lack of the Joint Mission to appreciate the advantages expected from the Joint Mission and the timing to appreciate such advantages; adjustments to IsoEnergy’s and/or Purepoint’s flow and presen trade plans and the strategic possible choices to be had thereto; enlargement possibilities and outlook of Purepoint’s trade; regulatory determinations and delays; keep marketplace situations normally; call for, provide and pricing for uranium; and common financial and political situations in Canada, america and alternative jurisdictions the place the appropriate birthday celebration conducts trade. Alternative elements which might materially have an effect on such forward-looking knowledge are described within the possibility elements in each and every of IsoEnergy’s and Purepoint’s most up-to-date annual control’s dialogue and analyses or annual knowledge methods and IsoEnergy’s and Purepoint’s alternative filings with the Canadian securities regulators which can be to be had, respectively, on each and every corporate’s profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and Purepoint don’t adopt to replace any forward-looking knowledge, apart from based on appropriate securities rules.

SOURCE IsoEnergy Ltd.

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