Summer Drilling Program on Fission’s PTS Focuses on New Regional Exploration

FISSION URANIUM CORP. ("Fission" or "the Company") is pleased to announce that summer drilling has now commenced at PLS, with drill rigs now in full operation.

Program Focus

Resource Growth and Regional Exploration Drilling

  • Growing and connecting the new high-grade zones on the western and eastern and extents of the 2.58km mineralized trend (the R840W and R1620E zones respectively). Neither of these zones are currently included in the Triple R deposit
  • Core and Reverse Circulation drill testing of key regional exploration targets, including:
    • West and east along the Patterson Lake Corridor
    • Forest Lake Corridor located parallel and to the south of the Patterson Lake Corridor

Target Generation Geophysics

  • A Moving Loop Time Domain Electro-Magnetic (MLTDEM) ground geophysics survey targeting the western on-land area of the Patterson Lake Corridor, host to the R00E, R600W and R840W zones
  • A 2D Marine Seismic survey, targeting the central Patterson Lake Corridor area host to the R780E and R1620E zones

Advanced Prefeasibility Oriented Activity

  • Regional hydrogeology monitoring wells to record and interpret long-term water flow analysis in areas contemplated for major infrastructure
  • Ring Dike Geotechnical Soil Borehole Testing around the expected R00E pit perimeter wall area

Ross McElroy, President, COO, and Chief Geologist for Fission, commented

"The much-anticipated summer drill program has begun and the drills are now turning. Thanks to the success of our winter program, we have a number of highly prospective targets both on and around the 2.58km mineralized trend, and also elsewhere on this large property, including Forest Lake. We'll be sharing scintilometer and assay results as they come in."

PLS Mineralized Trend & Triple R Deposit Summary

Uranium mineralization at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling approximately 2.58km of east-west strike length in five separated mineralized "zones". From west to east, these zones are: R840W, R600W, R00E, R780E and R1620E. Thus far only the R00E and R780E have been included in the Triple R deposit resource estimate.

The discovery hole of what is now referred to as the Triple R uranium deposit was announced on November 05, 2012 with drill hole PLS12-022, from what is considered part of the R00E zone. Through successful exploration programs completed to date, it has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit.

The Triple R deposit consists of the R00E zone on the western side and the much larger R780E zone further on strike to the east. Within the deposit, the R00E and R780E zones have an overall combined strike length validated by a resource estimate of approximately 1.05km with the R00E measuring approximately 105m in strike length and the R780E zones measuring approximately 945m in strike length. A 225m gap separates the R00E zone to the west and the R780E zones to the east, though sporadic narrow, weakly mineralized intervals from drill holes within this gap suggest the potential for further significant mineralization in this area. The R780E zone is located beneath Patterson Lake which is approximately six metres deep in the area of the deposit. The entire Triple R deposit is covered by approximately 50m to 60m of overburden.

Mineralization remains open along strike both to the western and eastern extents. Mineralization is both located within and associated with a metasedimentary lithologic corridor, associated with the PL-3B basement Electro-Magnetic (EM) Conductor. Recent very positive drill results returning wide and strongly mineralized intersections from the R600W zone and the newly discovered R840W zone, located 480m and 765m respectively to the west along strike have significantly upgraded the prospectivity of these areas for further growth of the PLS resource on land to the west of the Triple R deposit. The recently discovered high-grade mineralization in the R1620E zone, located 300m to the east along strike has significantly upgraded the prospectivity for further growth of the PLS resource to the east of the Triple R deposit.

Updated maps can be found on the Company's website at http://fissionuranium.com/project/pls/.

Patterson Lake South Property

The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

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, P.Geol., President and COO for Fission Uranium Corp., a qualified person.

Source: http://www.fissionuranium.com/

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