IsoEnergy Initiates Bulk Sample Program at the Tony M Uranium Mine in Utah, a Key Step Toward a Potential Restart Decision

Rhea-AI Summary

IsoEnergy (NYSE American: ISOU) has started a bulk sample program at its 100%‑owned Tony M uranium mine in Utah to collect technical, operational, and economic data toward a potential production restart.

The program will extract up to 2,000 tons of mineralized material over a 12–14 week period (commenced late December 2025) and will use contract mining by GenX with toll‑processing at Energy Fuels’ White Mesa Mill. Recent work reduced the SITLA royalty from 8% to 3%, and testwork shows >90% uranium recovery in two processing tests, supporting lower capital intensity and restart economics.

Positive

• Bulk sample sized at up to 2,000 tons over 12–14 weeks
• SITLA royalty reduced from 8% to 3%
• Processing via White Mesa toll mill eliminates need for new mill construction
• Testwork: >90% uranium recovery for slurry ablation and sorting

Negative

• Potential production restart remains undecided and contingent on Bulk Sample results
• Operational plan depends on third-party toll milling at White Mesa owned by Energy Fuels

News Market Reaction

+1.47%

1 alert

+1.47% News Effect

On the day this news was published, ISOU gained 1.47%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Bulk sample size: 2,000 tons Program duration: 12–14 weeks Royalty reduction: 8% to 3% +5 more

8 metrics

Bulk sample size 2,000 tons Mineralized material from Tony M bulk sample program

Program duration 12–14 weeks Bulk sample extraction period starting late December 2025

Royalty reduction 8% to 3% Uranium production royalty on SITLA lease at Tony M

Slurry ablation recovery more than 90% Uranium recovered into roughly 25% of original mass

Slurry ablation mass 25% Final mass relative to original for slurry ablation test

Sorting recovery over 90% Recovery into roughly 50% of original mass for sortable material

Sorting mass 50% Final mass relative to original for material-sorting testwork

Mine ownership 100% IsoEnergy ownership of Tony M uranium mine

Market Reality Check

Price: $10.86 Vol: Volume 86,282 vs 20-day a...

normal vol

$10.86 Last Close

Volume Volume 86,282 vs 20-day average 69,858 (relative volume 1.24). normal

Technical Trading above 200-day MA of 8.15 with pre-news price at 10.86.

Peers on Argus

Peers showed mixed moves: URG +1.85%, DNN +0.92%, UROY -1.73%, UUUU -2.6%, while...

Peers showed mixed moves: URG +1.85%, DNN +0.92%, UROY -1.73%, UUUU -2.6%, while EU was flat. This points to stock-specific drivers for ISOU.

Historical Context

5 past events · Latest: Dec 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 30	Equity acquisition	Positive	+1.8%	Acquired PUR shares and warrants via share-based consideration.
Dec 03	Exploration update	Positive	+4.8%	Reported Athabasca drilling results and outlined 2026 exploration plans.
Oct 12	Corporate acquisition	Positive	+7.7%	Agreed to acquire Toro Energy, adding significant uranium resources.
Sep 18	Drill results	Positive	+5.8%	Reported high‑grade U₃O₈ intercepts at the Dorado joint venture.
Sep 18	Drill results	Positive	+5.8%	Additional release highlighting strong Dorado joint venture results.

Pattern Detected

Recent company news and acquisitions have generally coincided with positive share price reactions.

Recent Company History

Over the past several months, IsoEnergy has combined portfolio expansion with exploration success. The Toro Energy acquisition agreement added sizeable U₃O₈ resources, while Athabasca Basin and Dorado drilling delivered high‑grade intercepts. The Premier American Uranium share and warrant acquisition expanded its strategic holdings. The Tony M bulk sample news fits this pattern of steadily de‑risking and advancing multiple uranium assets across jurisdictions.

Market Pulse Summary

This announcement outlines a de‑risking step at Tony M via a 2,000‑ton bulk sample over 12–14 weeks,...

Analysis

This announcement outlines a de‑risking step at Tony M via a 2,000‑ton bulk sample over 12–14 weeks, using existing toll milling to avoid new mill construction. The work follows a royalty cut from 8% to 3% and testwork showing over 90% uranium recovery with reduced mass. Investors may track bulk sample results, updated economics, and any subsequent restart planning milestones at the mine.

Key Terms

bulk sample, toll milling agreement, high-pressure slurry ablation, mineralized material-sorting, +1 more

5 terms

bulk sample technical

"announce a bulk sample program (the "Bulk Sample") at its 100%-owned Tony M"

A bulk sample is a large quantity of a product, raw material, or manufacturing batch provided for testing, inspection, or quality checks rather than a small promotional sample. For investors it matters because results from bulk samples reveal whether production can meet standards and scale — like inspecting a whole loaf instead of a single slice — and can affect regulatory approvals, product launches, supply reliability and the company’s revenue outlook.

toll milling agreement financial

"Processing Pathway Established Through Existing Toll Milling Agreement"

A toll milling agreement is a contract where one company pays a processor to grind, mill or otherwise transform its raw materials into finished or semi‑finished products while the material owner keeps legal title and pays a fee for the service. For investors it matters because it lets a business avoid buying expensive production plants, affecting costs, margins, supply‑chain risk and operational flexibility—like renting a specialized workshop instead of owning it.

high-pressure slurry ablation technical

"High-Pressure Slurry Ablation testing, which has demonstrated the potential"

A high-pressure slurry ablation is a medical procedure that removes unwanted tissue by directing a fast-flowing mix of fluid and tiny particles at the target, similar to using a power washer to strip away material from a surface. For investors, it matters because this technique can offer a less invasive alternative to surgery, potentially shortening recovery, lowering costs, and creating demand for specialized devices and regulatory approvals that affect company value.

mineralized material-sorting technical

"mineralized material-sorting testwork completed in October which achieved over 90%"

Mineralized material-sorting is the process of separating rock, soil, or crushed ore that contains valuable minerals from non‑valuable waste using hands-on, mechanical, or sensor-based methods. It matters to investors because effective sorting increases the concentration of saleable material, lowers processing and transport costs, improves recovery rates and mine productivity, and therefore can materially change a project’s operating costs and profitability—like picking ripe fruit from a bin of mixed pieces.

evaporation-pond technical

"Landshark evaporators eliminate the need for evaporation-pond expansion"

A shallow lined basin where liquid waste or brine is held and allowed to evaporate so dissolved solids become concentrated or recoverable, much like leaving a shallow dish of saltwater to dry and leave salt behind. Investors should care because these ponds affect operating costs, product recovery or disposal liabilities, require permits and environmental controls, and can influence a company’s regulatory risk, capital spending and long‑term cash flow.

AI-generated analysis. Not financial advice.

TORONTO, Jan. 7, 2026 /PRNewswire/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (NYSE American: ISOU) (TSX: ISO) is pleased to announce a bulk sample program (the "Bulk Sample") at its 100%-owned Tony M uranium mine in Utah ("Tony M" or the "Mine"). The Bulk Sample is designed to collect key technical, operational, and economic data required as one of the steps to support a potential production restart decision at one of the few fully permitted, past-producing conventional uranium mines in the United States.

The Bulk Sample program will involve the extraction of up to 2,000 tons of mineralized material over a 12–14-week period (which commenced late December 2025) and will be executed using contract mining services provided by GenX Mining Contractors, LLC of Spring Creek, Nevada. Mineralized material recovered during the program will be transported to the White Mesa Mill in Utah, owned by Energy Fuels Inc., for processing. 

With U.S. utilities increasingly focused on securing domestic uranium supply and limited near-term production capacity available, IsoEnergy believes Tony M represents a rare opportunity to advance a permitted, infrastructure-ready uranium mine toward potential restart without the need for costly and timely mill construction/refurbishment or major permitting initiatives. The Bulk Sample is a critical step in defining the scope and economics of a future production plan at Tony M. This work aligns with U.S. federal initiatives focused on rebuilding domestic nuclear fuel supply chains and enhancing energy security through increased domestic uranium production.

Upon completion of the Bulk Sample, IsoEnergy expects to evaluate the results alongside ongoing optimization studies to determine next steps, which may include advancing detailed mine planning, finalizing restart sequencing, and assessing the timing of a potential production decision.

Highlights

• Bulk Sample Designed as a Decision Gate Toward Potential Restart 
  • Low-risk, limited-scope program structured to generate real-world mining, processing, and cost data required to evaluate a potential restart decision.
  • Results expected to inform mine planning, sequencing, and commercial production assumptions.
• De-Risking Mining Methods and Cost Structure Under Operating Conditions 
  • Establishes actual contract mining costs and validates assumptions used in economic models.
  • Refines mineral material-control strategies to minimize dilution and maximize delivered grade, including testing dilution-control techniques in a production-style environment.
• Processing Pathway Established Through Existing Toll Milling Agreement
  • Mineralized material to be processed at the White Mesa Mill, eliminating the need for new mill construction and materially reducing capital intensity and execution risk.
  • Enables IsoEnergy to focus capital and effort on mine restart and optimization rather than downstream infrastructure.
• Production-Ready Underground Systems and Execution Tested 
  • Trials ventilation, ground-control, and underground operating procedures ahead of full-scale mining.

Philip Williams, CEO and Director of IsoEnergy, commented, "The Bulk Sample at Tony M is a major milestone in advancing one of the few restart-ready uranium mines in the United States. This program is designed to generate the real-world data we need to evaluate a potential full scale production restart under current market conditions. With permitting, infrastructure, and toll milling already in place, Tony M has the potential to be among the next conventional uranium mines in the U.S. to return to production as demand for secure domestic supply continues to grow."

Progress on Tony M Mine Work Programs

During 2025, IsoEnergy advanced a series of initiatives designed to strengthen the operating and economic profile of Tony M including, reducing the uranium production royalty on the Utah Trust Lands Administration (SITLA) lease from 8% to 3%, High-Pressure Slurry Ablation testing, which has demonstrated the potential to recover more than 90% of the uranium into roughly 25% of the original mass and mineralized material-sorting testwork completed in October which achieved over 90% recovery into roughly 50% of the original mass for material amenable to sorting. In parallel, an enhanced evaporation study has shown that Landshark evaporators eliminate the need for evaporation-pond expansion and reduce both permitting timelines and capital requirements. Together, these work programs support the Company's strategy of systematically de-risking Tony M and improving the economic framework for a future production decision.

About Tony M Mine

The Tony M Mine is located in eastern Garfield County, southeastern Utah, approximately 66 air miles (107 kilometers) west northwest of the town of Blanding and 215 miles (347 kilometers) south-southeast of Salt Lake City. The project is the site of the Tony M underground uranium mine that was developed by Plateau Resources, a subsidiary of Consumer Power Company, in the mid-1970s.

Uranium and vanadium mineralization at the Tony M mine is hosted in sandstone units of the Salt Wash Member of the Jurassic age Morrison Formation, one of the principal hosts for uranium deposits in the Colorado Plateau region of Utah and Colorado.

Tony M has the following current mineral resource estimate:

Table 1: Summary of Mineral Resources – Effective Date September 9, 2022

Classification	Tons (short tons)	Grade (% eU3O8)	Contained Metal (lbs. eU3O8)
Indicated	1,185,000	0.28	6,606,000
Inferred	404,000	0.27	2,218,000

Notes:

Reported in the Technical Report on the Tony M Project, Utah, USA Report for NI 43-101,  prepared for Consolidated Uranium Inc. by SLR International Corporation; Mark B. Mathisen, Qualified Person, Effective Date September 9, 2022. CIM (2014) definitions were followed for all Mineral Resource categories. Uranium Mineral Resources are estimated at a cut-off grade of 0.14% U3O8. The cut-off grade is calculated using a metal price of $65/lb U3O8. No minimum mining width was used in determining Mineral Resources. Mineral Resources are based on a tonnage factor of 15 ft3/ton (Bulk density 0.0667  ton/ft3 or 2.14 t/m3). Mineral Resources are not Mineral Reserves and do not have demonstrated economic  viability. Past production (1979-2008) has been removed from the Mineral Resource. Totals may not add due to rounding. Mineral Resources are 100% attributable to IsoEnergy and are in situ.

Qualified Person Statement

The scientific and technical information contained in this news release was reviewed and approved by Dean T. Wilton: PG, CPG, MAIG, a consultant of IsoEnergy who is a "Qualified Person" (as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects).

About IsoEnergy Ltd.

IsoEnergy (NYSE American: ISOU) (TSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

X: @IsoEnergyLtd
www.isoenergy.ca

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of U.S. securities laws (collectively, "forward-looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements may relate to details of the Bulk Sample program and planned processing activities and the results thereof; expectations with respect to any potential restart decision with respect to the Company's US projects and the anticipated timing thereof; permitting, development or other work that may be required to bring any of the projects into development or production; the completion of planned technical studies and the expected results thereof; expectations regarding completion of technical and economic assessments; expectations regarding the Company's  enhanced U.S. market presence; expectations regarding the Company's engagement with institutional and retail investors; increased demand for and interest in nuclear power and uranium; potential changes in US nuclear policy; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the results of planned exploration and development activities are as anticipated; assumptions that the results of planned technical work programs and technical and economic assessments are as anticipated; the anticipated mineralization of IsoEnergy's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; assumptions regarding uranium market conditions and policy shifts; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned activities will be available on reasonable terms and in a timely manner. Although IsoEnergy has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Such statements represent the current views of IsoEnergy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: negative operating cash flow and dependence on third party financing; uncertainty of additional financing; no known mineral reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; changes in development and production plans based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; other environmental risks; changes in laws and regulations; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; other risks associated with the mineral exploration industry; and general economic and political conditions in Canada, the United States and other jurisdictions where the Company conducts business. Other factors which could materially affect such forward-looking statements are described in the risk factors in IsoEnergy's most recent annual management's discussion and analysis and annual information form and IsoEnergy's other filings with securities regulators which are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. IsoEnergy does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Cautionary Note to United States Investors Regarding Presentation of Mineral Resource Estimates

The mineral resource estimates included in this press release have been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ in certain material respects from the disclosure requirements promulgated by the U.S. Securities and Exchange Commission (the "SEC").  Accordingly, information contained in this press release may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements.

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SOURCE IsoEnergy Ltd.

FAQ

What is IsoEnergy announcing for the Tony M mine (ISOU) on January 7, 2026?

IsoEnergy announced a bulk sample program at Tony M to extract up to 2,000 tons over a 12–14 week period to inform a potential restart decision.

How will IsoEnergy process the mineralized material from Tony M (ISOU)?

Material will be toll‑processed at the White Mesa Mill in Utah, owned by Energy Fuels, avoiding new mill construction.

What timeline did IsoEnergy give for the Tony M bulk sample (ISOU)?

The bulk sample commenced late December 2025 and is planned to run approximately 12–14 weeks.

What material test results did IsoEnergy report for Tony M (ISOU)?

High‑pressure slurry ablation and sorting testwork each demonstrated >90% uranium recovery into reduced mass fractions.

How did the SITLA royalty change for the Tony M project (ISOU)?

IsoEnergy reduced the uranium production royalty on the SITLA lease from 8% to 3%.

What will IsoEnergy use the bulk sample results for regarding Tony M (ISOU)?

Results will inform mine planning, sequencing, cost assumptions, and a potential production restart decision.