Mr. Ross McElroy reports

FISSION COMMENCES PREP FOR WINTER EXPLORATION; TARGETS REGIONAL HOT SPOTS

Fission Uranium Corp.'s winter exploration drill program at its PLS property in Canada's Athabasca basin will soon be under way. PLS hosts the Triple R -- the only major deposit in the basin with a high-grade core starting at 50 metres from surface, as well as two additional similarly shallow, high-grade zones. The 34-hole (10,105-metre) program is focused on making a new, near-surface, high-grade discovery on the expansive property, by targeting regional, high-priority hot spots identified during the summer program. Drilling, which is expected to start by the end of January, will also seek to grow the new shallow, high-grade zones at each end of the 2.63-kilometre mineralized trend, for possible inclusion in a future resource estimate update.

Ross McElroy, president, chief operating officer, and chief geologist for Fission, commented: "This is going to be a particularly exciting program. PLS hosts the Athabasca basin's only major shallow deposit with high-grade uranium starting at 50 m. Using the techniques and expertise that led to this deposit, which is located close to Highway 955, we have already discovered and expanded another two major high-grade zones that are similarly near surface. In this program, we will begin testing a number of new regional exploration areas identified during the summer, including a hot spot over half a kilometre west of the shallow, high-grade R840W zone and others near the high-grade boulder field. A new survey, crucial for drill targeting, is already under way and drills should be turning by the end of the month."

Exploration drill program highlights

• 15 holes focusing on key regional exploration targets for potential new discovery:
  • New area of interest approximately 600 m west of the R840W zone;
  • Untested areas near the high-grade uranium boulder field;
  • Parallel EM (electromagnetic) conductor located approximately four km to the north of the Triple R deposit;
  • EM conductors located between Patterson Lake and Forest Lake corridors;
  • Eastern and western ends of the Patterson Lake corridor.
• 19 holes focused on growing and connecting the new high-grade zones on the 2.63 km trend that have the potential to be included in a future Triple R resource estimate update;
• 28.5 line km of ground-based SMLTEM (small moving loop time domain electromagnetic) survey aimed at identifying areas of stronger, wider mineralization.

PLS mineralized trend and Triple R deposit summary

Uranium mineralization at PLS occurs within the Patterson Lake conductive corridor and has been traced by core drilling approximately 2.63 km of east-west strike length in four separated mineralized zones. From west to east, these zones are: R840W, R00E, R780E and R1620E. Thus far only the R00E and R780E have been included in the Triple R deposit resource estimate, whereas the R840W and R1620E zones fall outside of the current resource estimate window.

The discovery hole of what is now referred to as the Triple R uranium deposit was announced on Nov. 5, 2012, with drill hole PLS12-022, from what is considered part of the R00E zone. Through successful exploration programs completed to date, it has evolved into a large, near-surface, basement-hosted, structurally controlled high-grade uranium deposit.

The Triple R deposit consists of the R00E zone on the western side and the much-larger R780E zone farther on strike to the east. Within the deposit, the R00E and R780E zones have an overall combined strike length validated by a resource estimate of approximately 1.05 km with the R00E measuring approximately 105 m in strike length and the R780E zones measuring approximately 945 m in strike length. A 225 m gap separates the R00E zone to the west and the R780E zones to the east, though sporadic narrow, weakly mineralized intervals from drill holes within this gap suggest the potential for further significant mineralization in this area. The R780E zone is located beneath Patterson Lake which is approximately six metres deep in the area of the deposit. The entire Triple R deposit is covered by approximately 50 m to 60 m of overburden.

Mineralization remains open along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement electromagnetic (EM) conductor. Recent very positive drill results, returning wide and strongly mineralized intersections from the R840W zone, have allowed interpretation to merge the previously described R600W zone into the R840W zone. The R840W zone, located 495 m west along strike of the Triple R deposit, now has a defined strike length of 465 m and is still open. Drill results within the R840W zone have significantly upgraded the prospectivity of these areas for further growth of the PLS resource on land to the west of the Triple R deposit. The recently discovered high-grade mineralization in the R1620E zone, located 270 m to the east along strike, has significantly upgraded the prospectivity for further growth of the PLS resource to the east of the Triple R deposit.

An updated map 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 km 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.