IsoEnergy and Future Fuels Finalize Acquisition of Mountain Lake Property in Nunavut, Canada

IsoEnergy and Future Fuels Complete Mountain Lake Property Acquisition

On February 18, 2025, IsoEnergy Ltd. (TSX: ISO) and Future Fuels Inc. (TSXV: FTUR) announced the successful completion of a substantial acquisition deal concerning the Mountain Lake Property located in Nunavut, Canada. This transaction marks a pivotal moment for both companies as Future Fuels acquires a 100% interest in the Mountain Lake Project, which includes mineral claims covering an impressive 5,625 hectares within the Hornby Bay Basin.

Details of the Transaction

The completion of this transaction was conducted pursuant to an asset purchase agreement (APA) dated November 13, 2024. In exchange for the Mountain Lake Property, Future Fuels will issue common shares to IsoEnergy and provide Net Smelter Royalties. Specific details include the issuance of 12,500,000 common shares at closing, as well as an additional 2,500,000 common shares to be issued at the earliest practicable date post-closing.

The deal also includes the granting of a 2% net smelter returns royalty on all production from the Mountain Lake Property and a 1% royalty on production from Future Fuels' other properties in Nunavut. Notably, part of this royalty can be repurchased by Future Fuels for $1 million.