Mr. Ross McElroy reports

FISSION ANNOUNCES $75 MILLION BOUGHT DEAL FINANCING

Fission Uranium Corp. has entered into an agreement with Canaccord Genuity Corp. and SCP Resource Finance LP, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 63.56 million common shares of the company at a price of $1.18 per common share for gross proceeds of $75,000,800.

The company has granted the underwriters an option, exercisable at the offering price at any time and from time to time for a period of 30 days following the closing date (as defined herein), to purchase up to an additional 15 per cent of the number of common shares sold under the offering to cover overallotments, if any, and for market stabilization purposes. The offering is expected to close on or about Feb. 12, 2024, and is subject to the company receiving all necessary regulatory approvals.

The company intends to use the net proceeds from the offering to finance exploration and development at the PLS project, as well as for working capital and general corporate purposes.

The common shares will be issued by way of a prospectus supplement that will be filed in all provinces and territories of Canada, other than Quebec, under the company's base shelf prospectus dated Dec. 12, 2023. The common shares may also be sold in the United States on a private placement basis, pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and other jurisdictions outside of Canada, provided that no prospectus filing or comparable obligation arises.

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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