VANCOUVER, BC - July 10, 2026 (NEWMEDIAWIRE) - UraniumX Discovery Corp. (CSE: STMN) (OTCQB: STMXF) (FSE: Q7S) ("UraniumX" or the "Company") is pleased to announce that it has entered into a definitive asset purchase agreement (the "Agreement") dated July 9, 2026 with Consolidated Uranium Inc. ("Consolidated Uranium"), a wholly owned subsidiary of IsoEnergy Ltd. ("IsoEnergy"), to acquire a 100% interest in the Dieter Lake uranium project ("DieterLake" or the "Property") in North-Central Quebec (the "Transaction"). In exchange for its entire interest in the Property, Consolidated Uranium will receive 18,000,000 common shares of UraniumX (the "ConsiderationShares"), issued at a deemed price of $0.10 per share, and a 2.0% net smelter returns royalty on the Property. On closing, IsoEnergy, through Consolidated Uranium, is expected to hold approximately 15.6% of UraniumX on a non-diluted basis (on a post-Transaction basis), becoming one of the Company's largest shareholders, with the right to nominate one director to the UraniumX board of directors.
IsoEnergy Ltd., owner of the Hurricane uranium deposit, will take an approximately 15.6% strategic equity position in UraniumX
Transaction Highlights
A strategic endorsement from a uranium leader. IsoEnergy, a leading uranium developer and owner of the Hurricane deposit, which it describes as the world's highest-grade published indicated uranium mineral resource, is taking(1) a significant strategic equity position in UraniumX. On closing of the Transaction, IsoEnergy will become one of UraniumX's largest shareholders, indirectly through Consolidated Uranium, at approximately 15.6%, with board nomination, participation and top-up rights. In IsoEnergy, UraniumX gains a partner positioned for near-term uranium production.
A 24.4-million-pound historical estimate, acquired for no cash. Dieter Lake hosts a historical estimate of 19.3 million tonnes at 0.057% U3O8, containing approximately 24.4 million lbs U3O8 (see cautionary statements below). The consideration consists entirely of shares and a 2.0% NSR.
A second Canadian uranium jurisdiction, open for growth. Dieter Lake will add 168 claims over approximately 8,106 hectares in North-Central Quebec, where uranium mineral exploration is permitted, alongside UraniumX's Athabasca Basin ground in Saskatchewan. Mineralization is traced over approximately 6 km of strike, open to the southwest, with additional targets generated by a 2025 heliborne magnetic survey and a 2023 alteration-mineral study; the majority(2) of the property has seen little or no modern drilling.