Fission Drills Now Turning at PLS; Focus on New Zones and Regional Exploration

KELOWNA, BRITISH COLUMBIA--(Marketwired - July 7, 2016) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("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.