Mr. Ross McElroy reports

SECOND LEADING INDEPENDENT PROXY ADVISORY FIRM ENDORSES FISSION URANIUM'S PROPOSED ARRANGEMENT WITH PALADIN ENERGY

Glass Lewis & Co. has recommended shareholders of Fission Uranium Corp. vote for the previously announced plan of arrangement with Paladin Energy Ltd.

Glass Lewis is the second leading independent proxy advisory firm to conduct analysis on the arrangement and determine Fission shareholders should vote for the arrangement after Institutional Shareholder Services (ISS) made a similar finding, as detailed in the company's Aug. 8, 2024, press release.

Glass Lewis is an independent proxy adviser to institutional investors, covering 30,000 shareholder meetings each year, across approximately 100 global markets. Its customers include the majority of the world's largest pension plans, mutual funds and asset managers, which collectively manage over $40-trillion in assets.

"The recommendations of ISS and Glass Lewis are welcome endorsements of this exciting transaction to create one of the largest pure play uranium companies in the world," said Ross McElroy, president and chief executive officer of Fission. "We're pleased both influential proxy advisers recognize the immediate premium and ability for Fission shareholders to continue to participate in the upside of the Patterson Lake South project."

Meeting information

The special meeting of Fission securityholders is being held in person at Suite 3500, 1133 Melville St., The Stack, Vancouver, B.C., V6E 4E5, on Aug. 26, 2024, at 10 a.m. Pacific Time. At the meeting, securityholders of Fission will be asked to consider the arrangement, whereby Paladin will acquire all of the issued and outstanding shares of the company, and, in return, Fission shareholders will receive 0.1076 share of Paladin for each Fission share held, which represents a 30-per-cent premium to Fission's undisturbed 20-day volume-weighted average price on the Toronto Stock Exchange as at June 21, 2024, being the last trading day prior to the date of the arrangement agreement.

Fission shareholders may find materials related to the meeting under the company's profile on SEDAR+ as well as on Fission's website.

Voting is important and easy -- vote your Fission shares for the arrangement today

Shareholders are encouraged to vote in advance of the meeting, in accordance with the instructions accompanying the form of proxy or voting instruction form mailed to shareholders together with the circular. Further details and voting instructions can be found in the circular under the section entitled "Information Concerning The Meeting -- Proxies and Voting."

The deadline for shareholders to return their completed proxies or voting instruction forms is Thursday, Aug. 22, 2024, at 10 a.m. Pacific Time.

Shareholder questions and voting assistance

Shareholders who have questions or need assistance in voting should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (North American toll-free) or 1-416-304-0211 (outside North America) or by e-mail at assistance@laurelhill.com.

About Fission Uranium Corp.

Fission Uranium is an award-winning Canadian uranium project developer and 100-per-cent owner of the Patterson Lake South uranium property -- a proposed high-grade uranium mine and mill in Canada's Athabasca basin region. Fission's common shares are listed on the TSX Exchange under the symbol FCU and trade on the OTCQX marketplace in the United States under the symbol FCUUF and on the Frankfurt Stock Exchange under the symbol 2FU.

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