IsoEnergy (TSX:ISO) - North America's Richest Uranium Deposit at 34.5% Grade

Interview with Philip Williams, Director & CEO of Iso Energy Ltd.

Our previous interview: https://www.cruxinvestor.com/posts/isoenergy-tsxiso-nyse-listing-on-horizon-as-company-expands-athabasca-basin-drilling-6792

Recording date: 25th April 2025

IsoEnergy, led by CEO Philip Williams, has established itself as a diversified uranium explorer and developer with a portfolio spanning Canada, the United States, and Australia. The company is advancing its flagship Hurricane project in Canada's Athabasca Basin, which boasts an exceptional resource of 48.6 million pounds at 34.5% grade, making it one of the highest-grade uranium deposits globally.

The Hurricane deposit's value extends beyond its impressive grade. Strategically located in the eastern Athabasca Basin near existing infrastructure, including the McClean Lake mill, the deposit continues across a property boundary onto land owned by Cameco and Orano. Recent drilling has revealed promising results, with elevated radioactivity detected in multiple locations, including a significant intercept 2.8 kilometers from the main deposit.

Williams employs a "fried egg" analogy to describe their exploration approach: "In the center of the egg is the ultra-high grade. And as you get to the outside of the egg, when you move out of the yolk into the whites, that's where you have lower grade." Recent findings suggest they've identified the "whites" of potentially new deposits and are now searching for the high-grade "yolks."

Beyond Hurricane, IsoEnergy owns past-producing uranium mines in the United States that could restart within 3-6 months when market conditions improve. These conventional mines offer significant operational flexibility, as Williams notes: "You can turn them on, turn them off, batch mine them," unlike larger projects requiring substantial capital investment.

With $50 million in cash and a $30 million equity portfolio, IsoEnergy is well-positioned to advance its business plan despite market volatility. The company's diversified strategy reduces the risks associated with single-asset, single-jurisdiction uranium companies.

Williams highlights a fundamental disconnect in the uranium market: "It costs more marginally to produce uranium than it's trading at right now. So at some point the rubber will hit the road." He believes an eventual price correction is inevitable as producers cannot sustain losses indefinitely.

IsoEnergy's ultimate vision is to build a robust, diversified uranium producer delivering shareholder returns across multiple timeframes. As Williams concludes, "In uranium, if you want to be a relevant long-term bigger player, you need to have multiple assets" – a strategy that positions IsoEnergy to weather the sector's volatility while capitalizing on expected long-term growth in uranium demand.

View IsoEnergy's company profile: https://www.cruxinvestor.com/companies/isoenergy

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