Mr. Ross McElroy reports

FISSION COMPLETES HYDRO AND GEOTECH DRILLING; APPOINTS ENGINEERING DESIGN LEAD

Fission Uranium Corp. has completed all drilling required for the front-end engineering design (FEED) at its PLS high-grade uranium project in Saskatchewan, Canada. A total of 12 holes were successfully drilled on time and on budget. The data will be used for optimizing the design of the underground mine infrastructure and proposed tailings management facility. Additionally, the company has appointed Tetra Tech Canada as lead engineering consultant for the FEED stage. Tetra Tech is a globally recognized leader in engineering and consulting services with 550 offices and over 27,000 employees worldwide.

News highlights

• Twelve-hole drill program has been completed on time and on budget at PLS, gathering hydrogeological and geotechnical data for mine infrastructure and facilities.
• Tetra Tech Canada has been appointed as lead engineering consultant for the FEED.
• Development at PLS continues to progress on schedule through permitting toward a construction decision.

Ross McElroy, president and chief executive officer for Fission, commented, "With all FEED drilling data now in hand, and one of the world's top engineering consulting groups on board, we continue to make excellent progress through this important engineering design stage for the PLS high-grade uranium mine and mill project."

FEED team

Tetra Tech, as lead consultant during the course of the FEED phase, will be supported by two specialist engineering companies: Clifton Engineering and Mining Plus. Clifton is an award-winning engineering and environmental consultancy retained by Fission to work on the tailings management facility section of the FEED. Mining Plus is a global mining services provider specializing in geology, mining engineering and geotechnical engineering, which Fission has hired to work on the underground mine section of the FEED.

PLS mineralized trend and Triple R deposit summary

Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake conductive corridor and has been traced by core drilling over about 3.18 kilometres of east-west strike length in five separated mineralized zones, which collectively make up the Triple R deposit. From west to east, these zones are R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near-surface, basement-hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on Nov. 5, 2012, with drill hole PLS12-022 from what is now referred to as the R00E zone.

The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55 metres and 100 m. R1515W is the westernmost of the zones and is drill defined to about 90 m in strike length, about 68 m across strike and about 220 m vertical and where mineralization remains open in several directions. R840W is located about 515 m to the east along the strike of R1515W and has a drill-defined strike length of about 430 m. R00E is located about 485 m to the east along strike of R840W and is drill defined to about 115 m in strike length. The R780E and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake, where water depth is generally less than six metres, and overburden thickness is generally about 50 m. R780E is located about 225 m to the east of R00E and has a drill-defined strike length of about 945 m. R1620E is located about 210 m along strike to the east of R780E and is drill defined to about 185 m in strike length.

Mineralization along the Patterson Lake corridor trend remains prospective 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.

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.

Qualified persons

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 CEO for Fission Uranium, a qualified person.

About Fission Uranium Corp.

Fission Uranium is an award-winning Canadian-based resource company specializing in uranium exploration and development. The company is the owner and developer of the PLS uranium project -- a proposed high-grade mine and mill located in the Athabasca basin, Saskatchewan, Canada. The company is headquartered in Kelowna, B.C.

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