Fission's New R840W Zone to Receive Expanded Drill Program

KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2016) - FISSION URANIUM CORP. ("Fission" or "the Company") (TSX:FCU) (OTCQX:FCUUF) (FRANKFURT:2FU) is pleased to announce it will increase the size and budget of the winter drill program to account for additional drilling around the newly discovered R840W zone at its' PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region. An additional $740,000 budgeted for 1,200m in four holes is planned to test the R840W.

Four additional close-spaced angled drill holes are planned to test for lateral and vertical continuation of the broad mineralized zone encountered in exploration hole PLS16-445 drilled on line 840W, located 135m west of the R600W zone. That drill hole intersected a 42.0m wide mineralized zone, including a continuous 2.0m interval measuring >10,000 cps radioactivity (see NR dated Feb 1, 2016).

• 1 hole will test 15m along strike to the west on line 855W
• 1 hole will test 15m along strike to the east on line 825W
• 1 hole will test 20m up-dip on line 840W
• 1 hole will test 20m down-dip on line 840W

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

"The R840W zone was discovered using similar methods to those that led to the R600W zone: applying the team's greater knowledge of PLS geology to areas that were drill tested early during the PLS project. It is strong reminder of the continued prospectivity of PLS that, with the first hole of the latest program, we have already identified this new high-grade area and are in a position to test it further."

Pre-discovery drilling on the Patterson Lake Corridor intersected numerous areas of interest and ultimately led to the R600W and now the R840W zones. More areas of interest identified during early exploration drilling remain to be followed up.

How Fission has been converting interesting areas into mineralized discoveries: The recent discovery of the R840W zone, analogous to the discovery of high-grade mineralization of the R600W zone in 2015, was a follow-up of previous drill results from the first-pass exploration drilling in winter 2012 on the Patterson Lake conductive corridor (see NR July 24, 2012) prior to the discovery of Triple R deposit. The last 4 holes of the winter 2012 drilling (PLS12-013, 014, 015 and 016) encountered continuous wide intervals of anomalous low grade uranium basement mineralization as well as associated boron, cobalt, nickel, molybdenum and lead suggesting the presence of a large uranium-rich alteration system. All four of these earlier holes were drilled between 5 to 30m south of later discovered high-grade mineralization. PLS12-016 was 5m south of the R00E zone, PLS12-015 was drilled 15m south of the R600W zone and PLS12-013 and PLS12-014 were drilled 30m and 15m respectively south of the R840W zone. The subsequent discovery of high-grade mineralized zones resulting from the follow-up of first-pass exploration holes shows the importance and skill of the technical team to apply observations of the geological controls on mineralization including lithologic and structural settings and associated alteration and geochemical signatures to vector in on uranium mineralization. More areas of interest that have received first-pass drilling remain to be further drill tested.