Mr. Ross McElroy reports

FISSION WINTER PROGRAM: 21.97% U3O8 OVER 10.0M IN 5.19% OVER 57.0M (LINE 510E); FIVE NEW HIGH-GRADE HOLES

Fission Uranium Corp. is releasing 2014 winter assay results from five holes drilled on the R780E zone at its Patterson Lake South property in Saskatchewan's Athabasca basin, Canada. Of particular note are holes PLS14-209 (line 510E), which returned composite assay intervals including 21.97 per cent triuranium octoxide over 10.0 metres within a larger interval of 5.19 per cent triuranium octoxide over 57.0 metres, and PLS14-215 (line 660E), which returned composited assay intervals of 11.80 per cent triuranium octoxide over 22.5 metres within a larger interval of 6.29 per cent triuranium octoxide over 48.5 metres. In both holes, high-grade mineralization was intercepted at shallow depth. All five holes returned wide, high-grade intervals.

All five reported holes come from the central to eastern area of the R780E zone. Three of the five holes intersected substantial width and grade of uranium mineralization at a shallow depth.

Ross McElroy, president, chief operating officer and chief geologist for Fission, commented:

"These final assay results of the winter R zone drilling on the main PL-3B corridor represent some of the most robust assay-confirmed mineralization on the R780E zone in the central and eastern areas and are a definitive conclusion to the winter drill program. With a total of 80 drill holes completed on the main trend, a greater than 97-per-cent-mineralization-intersection success rate (78 of the 80 holes intersecting uranium mineralization greater than 0.05 per cent U3O8 over greater than 0.5 m) and merging of four previously defined zones (R390E, R585E, R780E and R945E) into one continuous zone (R780E) at approximately 825 m strike length (line 255E to 1080E), the winter 2014 program was very successful, establishing the PLS project as a premier uranium project in the Athabasca basin region."

Assay highlights

PLS14-215 (line 660E):

• 48.5 m (65.0 m to 113.5 m) at 6.29 per cent U3O8, including 22.5 m (85.5 m to 108.0 m) at 11.80 per cent U3O8.

PLS14-209 (line 510E):

• 57.0 m (83.5 m to 140.5 m) at 5.19 per cent U3O8, including 10.5 m (126.0 m to 137.5 m) at 21.97 per cent U3O8.

PLS14-214 (line 870E):

• 94.5 m (82.5 m to 177.0 m) at 2.28 per cent U3O8, including:
  • 5.5 m (98.0 m to 103.5 m) at 7.02 per cent U3O8;
  • 3.0 m (111.5 m to 114.5 m) at 16.75 per cent U3O8;
  • 1.5 m (118.5 m to 120.0 m) at 8.15 per cent U3O8;
  • 3.5 m (149.0 m to 152.5 m) at 7.87 per cent U3O8.

More winter assays pending

To date, assay results from 80 holes of the recently completed winter program have now been released; results from 12 exploration holes are pending.

Composited per cent U3O8 mineralized intervals are summarized in the table. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5 m downhole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 accredited facility) in Saskatoon, Sask., for analysis, which includes U3O8 (weight per cent) and fire assay for gold, while the other half remains on site for reference. All analyses include 63-element ICP-OES, uranium by fluorimetry and boron. All depth measurements reported, including sample and interval widths, are downhole; core interval measurements and true thickness are yet to be determined.

      R780E ZONE COMPOSITED MINERALIZED INTERVALS
                (downhole measurements)

                                    Interval       U3O8
Hole ID       From (m)     To (m)        (m)     (wt %)


PLS14-209        53.50      54.00       0.50       0.08
                 62.00      62.50       0.50       0.10
                 74.00      75.00       1.00       0.15
                 83.50     140.50      57.00       5.19
                126.00     136.50      10.50      21.97
                149.50     154.00       4.50       0.06
                156.50     160.50       4.00       0.80
                167.00     171.00       4.00       0.13
                174.00     174.50       0.50       0.11
                179.00     182.00       3.00       0.32
                190.50     193.00       2.50       0.13
PLS14-211        70.50      77.00       6.50       0.06
                 79.50     116.00      36.50       0.09
                120.50     140.50      20.00       0.17
                131.00     132.00       1.00       2.02
                143.50     147.00       3.50       0.09
                149.50     150.00       0.50       0.07
                155.50     156.00       0.50       0.08
                157.50     158.00       0.50       0.05
                160.50     161.00       0.50       0.06
                163.50     184.50      21.00       0.15
                187.50     189.50       2.00       0.50
                194.00     195.50       1.50       0.49
                200.00     208.00       8.00       1.41
                200.50     203.50       3.00       3.25
                213.00     214.50       1.50       0.20
                217.00     220.00       3.00       0.16
                225.50     227.50       2.00       0.09
                233.00     236.00       3.00       0.06
PLS14-214        73.00      76.00       3.00       0.11
                 82.50     177.00      94.50       2.28
                 98.00     103.50       5.50       7.02
                111.50     114.50       3.00      16.75
                118.50     120.00       1.50       8.15
                149.00     152.50       3.50       7.87
                179.50     184.00       4.50       0.09
                189.50     210.50      21.00       1.17
                200.00     205.00       5.00       2.64
                216.00     219.50       3.50       0.13
                222.50     223.50       1.00       0.23
                236.00     237.00       1.00       0.06
PLS14-215        65.00     113.50      48.50       6.29
                 85.50     108.00      22.50      11.80
                117.50     139.00      21.50       1.02
                134.00     138.50       4.50       2.61
                142.50     143.00       0.50       0.11
                147.50     155.50       8.00       0.39
                162.00     165.50       3.50       1.35
                172.50     174.00       1.50       0.12
                177.50     180.50       3.00       0.12
                185.50     196.00      10.50       0.60
                188.00     191.00       3.00       1.65
                203.00     205.00       2.00       0.07
                215.50     216.50       1.00       0.09
PLS14-216       217.00     223.00       6.00       0.53
                218.00     220.00       2.00       1.14

Composite parameters:
1  Minimum thickness: 0.50 metre.
2. Grade cut-off: 0.05 U3O8 (weight per cent).
3. Maximum internal dilution: 2.00 metres.

PLS mineralized trend summary

Uranium mineralization at PLS has been traced by core drilling over 2.24 kilometres of east-west strike length in five separate mineralized zones from line 615W (PLS13-124) to line 1620E (PLS14-196). From west to east, these zones are R600W, R00E, R780E, R1155E and R1620E. The former R390E, R585 and R945E zones have been merged into the R780E zone by successful winter drilling. Mineralization remains open along strike both to the western and eastern extents. Mineralization is both located within and associated with a metasedimentary lithologic corridor, bounded to the south by the PL-3B basement electromagnetic conductor.

Fission has received and released assay results on 80 holes from its winter 2014 drill program at PLS. Updated maps and files can be found on the company's website.

Patterson Lake South property

The 31,039-hectare PLS project is 100 per cent owned and operated by Fission Uranium. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50 kilometres to the north, currently under active exploration and development.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, PGeol, president and chief operating officer for Fission Uranium, a qualified person.

We seek Safe Harbor.