International Isotopes Inc. announced financial results for the third quarter and nine months ended September 30, 2009. Revenue for the three month period ended September 30, 2009, was $1,323,907 as compared to $1,245,164 for the same period in 2008, an increase of $78,743, or 6%. The increase in total revenue for the three-month period was attributable to strong performance in both the radiochemical and cobalt product business segments. Net loss was $1,508,645 or $0.01 per common share compared to a loss of $739,161 for the same period in 2008. This is an increase in loss of $769,484 for the three months ended September 30, 2009 was almost totally attributable to the increases in research and development, as well as other costs related to the planned depleted uranium de-conversion and fluorine extraction processing facility. Operating loss was $1,492,536 against $726,984 a year ago. Revenue for the nine month period ended September 30, 2009, was $4,509,176 as compared to $4,429,144 for the same period in 2008. Net loss was $2,855,206 or $0.01 per common share compared to a loss of $1,451,815 or $0.01 per common share for the same period in 2008. This is an increase in loss of $1,403,391 for the nine months ended September 30, 2009, and was almost totally attributable to the increases in research and development, as well as other costs related to the planned depleted uranium de-conversion and fluorine extraction processing facility. Operating loss was $2,820,652 against $1,401,088 a year ago.

International Isotopes Inc. announced it has entered into an Agreement with the State of New Mexico Environment Department (NMED) that establishes mutually agreed upon license limits for INIS's planned uranium de-conversion and fluorine extraction processing facility. The completion of this Agreement is an important step towards licensing and constructing a uranium de-conversion and fluorine extraction processing facility in the State of New Mexico. International Isotopes announced the selection of Hobbs, New Mexico as the site for the uranium de-conversion processing facility this past March. Prior to, and since that time, the Company has been working diligently to address regulatory issues associated with the facility and educating the public and investment community about the important 'green' ecological aspects of the facility. The facility is expected to have a significant positive economic impact in New Mexico and public support for the project remains strongly positive. The Company has been active in working with the State of New Mexico and local area residents since site selection to ensure continued understanding of the project and its benefits to New Mexico and to the nuclear industry.

International Isotopes Inc. has entered into an Agreement with the State of New Mexico Environment Department (NMED) that establishes mutually agreed upon license limits for INIS's planned uranium de-conversion and fluorine extraction processing facility. The completion of this Agreement is an important step towards licensing and constructing a uranium de-conversion and fluorine extraction processing facility in the State of New Mexico. The Agreement implements certain terms for the facility that have been mutually agreed upon. Both parties have agreed that these terms will be incorporated into the company's Nuclear Regulatory Commission (NRC) license application and eventually into the NRC license itself, where applicable. The INIS facility is planned for a location about 15 miles west of Hobbs, New Mexico and will consist of both depleted uranium de-conversion and fluorine gas extraction processes. INIS holds patents that give it exclusive rights to the Fluorine Extraction Process (FEP), which produces high value, high purity gases in conjunction with uranium de-conversion, and thus, provides a key commercial advantage to the de-conversion plant. INIS expects to hire about 150 construction workers for the project and anticipates that it will eventually have a full time staff of approximately 130 to 150 employees for plant operations. Construction of the facility is anticipated to begin in the third quarter in 2011, after Nuclear Regulatory Commission licensing is complete, and to begin operations in late 2012.