11:27 AM EDT, 06/12/2025 (MT Newswires) -- (Adds analyst comment and updates shares.)

IsoEnergy ( ISOU ) on Thursday said it launched its summer exploration program covering 11,000 meters of drilling at the Larocque East and Hawk uranium projects in the eastern Athabasca Basin of Saskatchewan.

The program will follow up on the results from the winter 2025 program at Larocque East and winter 2024 program at Hawk, the company said.

Due to severe forest fires, IsoEnergy ( ISOU ) said it will initially operate one drill and will add another one once conditions improve.

The company also plans to conduct additional work this summer to advance a pipeline of exploration targets across the its earlier-stage projects.

National Bank of Canada maintained its outperform rating on IsoEnergy ( ISOU ) shares and its $17.00 price target at after the news.

National Bank added that the larger the scale of the deposit, the better the overall value and internal rate of return generated, thus supporting a potential future partnership or takeout that would allow for scale.

IsoEnergy ( ISOU ) shares were last seen up $0.09 to $10.23 on the Toronto Stock Exchange.

Price: 10.20, Change: +0.06, Percent Change: +0.59