Fission Files 43-101 Report and AIF With SEDAR for Triple R Deposit at PLS

KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 26, 2015) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce that, further to the Company's news release dated January 9, 2015, the Company has filed on its SEDAR profile a National Instrument 43-101 - Standards of Disclosure for Mineral Projects technical report entitled "Technical Report on the Patterson Lake South (PLS) Property, Northern Saskatchewan, Canada". The report is dated February 12, 2015 and the mineral resource estimate has an effective date of January 5, 2015. The Company also reports that it has filed on its SEDAR profile an annual information form for the fiscal year ended June 30, 2014.

The Triple R deposit at PLS is the largest pre-development resource in Canada's Athabasca Basin region and the third largest resource overall, behind McArthur River and Cigar Lake, both of which are presently in production. It has a large high-grade core, is particularly shallow and as per the technical report, prepared by Roscoe Postle Associates Inc. (RPA), the Triple R is currently estimated to contain:

Uranium Resource

• Indicated Category: 79.6M lbs U₃O₈ based on 2,291,000 tonnes at 1.58% U₃O₈, including 44.3M lbs U₃O₈ based on 110,000 tonnes at 18.21% U₃O₈
• Inferred Category: 25.9M lbs U3O8 based on 901,000 tonnes at 1.30% U₃O₈, including 13.9M lbs U₃O₈ based on 24,000 tonnes at 26.35% U₃O₈

Gold Resource

• Indicated Category: 38,000 ounces Au based on 2,291,000 at 0.51 g/t Au
• Inferred Category: 16,000 ounces Au based on 901,000 tonnes at 0.56 g/t Au

Winter 2015 Drill Program Underway with 100% resource delineation hit rate to date. Since releasing the initial figures for the Triple R resource estimate (see news release dated January 9, 2015), Fission has begun a 63 hole (20,230m) winter program, with 35 holes targeting resource growth via step outs and 28 holes targeting other high priority exploration targets on the property. To date, fourteen resource growth holes have been announced so far and all have hit wide, strong mineralization. In addition, the current drill program has expanded the R780E zone - the largest of the two zones in the Triple R deposit, to the north, south and east on multiple lines as well as vertically.