Mr. Ross McElroy of Fission Uranium reports

FISSION ANNOUNCES COMPLETION OF AIRBORNE GEOPHYSICAL SURVEY AT PLN

Fission Uranium Corp. and Azincourt Uranium Inc. have completed the VTEM max airborne geophysical survey, the initial component of planned exploration work at Patterson Lake North in the Athabasca basin.

Aeroquest Airborne of Aurora, Ont., recently completed the helicopter-borne 400-metre line-spaced VTEM max survey totalling 303 line kilometres in the northern half of the PLN property.

Ross McElroy, president, chief operating officer and chief geologist for Fission, commented: "Earlier exploration work, and the property location, leads us to consider Patterson Lake North to be highly prospective. The latest survey is an important components before drilling begins this winter and we are looking forward to making use of the airborne geophysical results as we continue to prioritize our list of key drill targets."

The VTEM max survey is designed to provide higher resolution over anomalous conductive areas of interest identified from previous airborne magnetic-electromagnetic surveys. The survey was completed over five days, and was flown along northwest-southeast flight lines at a nominal flight height of 35 metres above ground. The VTEM max survey should ideally locate basement conductors and/or enhanced sandstone alteration in the northern property area at the expected unconformity depths in the range of 250 to 600 metres below surface. Aeroquest recently completed data acquisition and is presently completing postprocessing. The processed data are expected to be received shortly with data interpretation to follow by Fission's technical team and Living Sky Geophysics Inc. of Saskatoon.

High-grade uranium occurrences in the Athabasca basin generally occur within metasedimentary basement terrains with metapelitic lithologies and are associated with reactivated structural traps with hydrothermal alteration. These lithological-structural corridors can be prospective for hosting high-grade uranium deposits. Modern geophysical surveys are capable of distinguishing and identifying lithology, structural features and alteration zones. Proper interpretation of these survey results can be used to effectively target drill holes.

A single line 6.3-line-kilometre ground-based magnetotellurics survey is planned later this fall as a follow-up to the airborne survey.

The summer/fall geophysical program is budgeted at $530,000 and includes additional ground time domain electromagnetic and magnetotellurics geophysical surveys. The surveys will assist in identifying and prioritizing drill targets for the anticipated 2014 winter program, as well as generating additional drill targets for testing in subsequent years. Approximately $1-million has been set to be spent on the upcoming winter drill program.

PLN is immediately adjacent to Fission's joint venture PLS property and 5.7 kilometres north of where Fission has discovered high-grade uranium mineralization in bedrock in four separate pods. Prior to Azincourt's earn-in, Fission spent $4.7-million, principally on airborne and ground geophysics with some diamond drilling.

PLN property setting

PLN lies within a large basin-scale northeast-trending gravity low structural corridor coincident with the Clearwater domain (granite and felsic gneisses) that also incorporates the adjacent PLS property. The former Cluff Lake uranium mine and the UEX-Areva Shea Creek deposits (42 kilometres and 27 kilometres to the north, respectively) lie along the western margin of this structural feature. The recently discovered high-grade uranium mineralization found at PLS located 5.7 kilometres to the south, also lies within this structural corridor. Coincidentally, PLN also lies within a complex magnetic corridor showing magnetic highs and lows and breaks in regional major features. Several EM anomalies are evident within PLN, including what may be interpreted to be the southern extension of the Saskatoon Lake EM conductor, which itself is associated with the Shea Creek deposit to the north.

PLN property

PLN was acquired by staking in 2004 and became part of the Fission Uranium portfolio as part of the Fission Energy/Denison Mines agreement in April, 2013. It comprises approximately 27,000 hectares, and is located about 30 kilometres immediately south of the UEX/Areva Anne and Collette uranium deposits at Shea Creek.

PLN is prospective for hosting structurally controlled high-grade unconformity uranium mineralization that is often associated with basement graphitic shear zones within clay altered metasedimentary basement lithologies. These features have unique characteristics that can be identified by geophysical surveys. An updated map showing the area of the VTEM max airborne geophysical survey can be found on the company's website.

Qualified person

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.

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