Mr. Ross McElroy reports

FISSION CLOSES $9.2 MILLION BOUGHT DEAL FINANCING

Fission Uranium Corp. has closed its previously announced bought deal public offering consisting of 7,731,092 flow-through common shares of the company that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)), at a price of $1.19 per flow-through share for gross proceeds of $9.2-million, inclusive of the full exercise of the overallotment option held by the underwriters.

Canaccord Genuity Corp. and SCP Resources Financing LP acted as co-lead underwriters on behalf of a syndicate of underwriters including Eight Capital and Red Cloud Securities.

The gross proceeds of the offering will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures"as such terms are defined in the Income Tax Act (Canada) related to the company's PLS project located in Saskatchewan, Canada, on or before Dec. 31, 2024. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2023.

The offering was completed pursuant to a prospectus supplement to the company's base shelf prospectus dated Nov. 10, 2021.

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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