IsoEnergy Becomes Strategic Shareholder of UraniumX as Company Acquires Dieter Lake Uranium Project

UraniumX Discovery Corp. (CSE: STMN) (OTCQB: STMXF) (FSE: Q7S) has entered into a definitive asset purchase agreement with Consolidated Uranium Inc., a wholly owned subsidiary of IsoEnergy Ltd., to acquire a 100% interest in the Dieter Lake uranium project in North-Central Quebec. The transaction, announced July 9, 2026, involves no cash consideration; instead, Consolidated Uranium will receive 18 million common shares of UraniumX at a deemed price of $0.10 per share and a 2.0% net smelter returns royalty. Upon closing, IsoEnergy is expected to hold approximately 15.6% of UraniumX on a non-diluted basis, becoming one of the company’s largest shareholders with the right to nominate one director to the board.

The Dieter Lake project hosts a historical estimate of 19.3 million tonnes at 0.057% U3O8, containing approximately 24.4 million pounds U3O8, as reported in a 2011 technical report by Fission Energy Corp. The mineralization is traced over approximately 6 km of strike in four zones that remain open to the southwest, and the majority of the 8,106-hectare property has seen little or no modern drilling. A 2025 heliborne magnetic survey and a 2023 alteration-mineral study have generated additional untested targets. UraniumX plans to advance the project toward a current mineral resource estimate through compilation and verification of historical data and confirmation drilling.

Esen Boldkhuu, CEO of UraniumX, emphasized the strategic significance of the acquisition: “Dieter Lake will hand our shareholders a project with a historical estimate of 24.4 million pounds of U3O8, in a mineralized horizon that is still open, on ground that has seen little or no modern drilling. Just as important is who we are acquiring it from: IsoEnergy is becoming a long-term strategic shareholder of UraniumX. On closing, UraniumX becomes a multi-jurisdiction Canadian uranium company.”

IsoEnergy is a leading uranium developer that owns the Hurricane deposit in the Athabasca Basin, described as the world’s highest-grade published indicated uranium mineral resource with 48.6 million pounds U3O8 at an average grade of 34.5% U3O8. The company also holds a portfolio of permitted past-producing mines in Utah with a toll milling arrangement with Energy Fuels, positioning it for near-term production. According to IsoEnergy’s website, the company is advancing its Larocque East project and recently completed the acquisition of Toro Energy Limited, adding the Wiluna project in Australia.

The transaction includes an investor rights agreement granting IsoEnergy board nomination rights as long as it maintains a 5% ownership interest, along with participation and top-up rights in future equity issuances. The Consideration Shares are subject to a statutory hold period and a voluntary lock-up releasing 25% on each of the 4, 8, 12, and 16-month anniversaries of closing. The deal is expected to close in the third quarter of 2026, subject to regulatory approvals and customary conditions.

Ken Wheatley, P.Geo., a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this release. However, the Qualified Person has not verified the data underlying the Historical Estimate, and UraniumX is not treating it as a current mineral resource. The company expects to provide an updated NI 43-101 technical report for the Property in due course.