Mr. Ross McElroy reports

FISSION ANNOUNCES $15 MILLION BOUGHT DEAL OFFERING

Fission Uranium Corp. has entered into an agreement with Eight Capital to act as co-lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters co-led by Eight Capital and Sprott Capital Partners, pursuant to which the underwriters have agreed to purchase, on a bought-deal basis, 54,545,500 units of the company, at a price of 27.5 cents per unit for gross proceeds to the company of $15,000,012.50.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share at a price of 41 cents for a period of 24 months following the closing date (as defined below).

The company will pay the underwriters a cash commission of 6.0 per cent of the gross proceeds of the offering, subject to a reduced cash commission being payable on sales to certain members of the president's list, including on any proceeds realized on the exercise of the overallotment option.

In addition, CGN Mining Co. Ltd. may exercise its right to maintain its pro rata interest in the outstanding shares of the company by participating in the offering, or by purchasing in a private placement units at the offering price, which will increase the gross proceeds to the company.

The underwriters have been granted an option, exercisable in whole or in part, at any time for a period of 30 days after and including the closing date (as defined herein), to purchase from the company up to an additional 15 per cent of the units offered under the offering.

The offering is expected to close on or about Nov. 17, 2020, or such other date as may be agreed by the underwriters and the company, and is subject to the company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and applicable securities regulatory authorities. The units will be offered by way of a short-form prospectus in each of the provinces of Canada, excluding Quebec.

The net proceeds of the offering will be used to finance the further development of the Triple R deposit in Saskatchewan, to repay certain amounts owing under the credit facility among the company, Sprott Resources Lending Corp. and Sprott Private Resource Lending II (Collector) LP, and for working capital and general corporate purposes.

About Fission Uranium Corp.

Fission Uranium is a Canada-based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property -- host to the class-leading Triple R uranium deposit -- and is headquartered in Kelowna, B.C.

We seek Safe Harbor.