Fission Targets High-Priority Exploration and Zone Growth Areas

KELOWNA, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2016) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce preparations have begun for a 34 hole, 10,105m, winter program at its PLS property in Canada's Athabasca Basin. The program is currently budgeted at $6.5m and may be increased at a later date. It includes multiple regional exploration targets outside of the Triple R deposit, identified during summer drilling. In addition, drilling will target the expansion of new zones at both ends of the 2.63km mineralized trend, for possible inclusion in a future resource estimate update. Other activities will include continued baseline environmental studies and community and government engagement.

Key Highlights

• 15 holes consisting of both diamond drill core ("DDH") and Reverse Circulation ("RC") holes will focus on key regional exploration targets
• 19 DDH holes focused on growing and connecting the new high-grade zones on the 2.63km trend that have the potential to be included in a future Triple R resource estimate update
• 28.5 line-km of ground-based Small Moving Loop Time Domain Electromagnetic (SMLTEM) survey aimed at identifying areas of stronger, wider mineralization

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

"This program will follow up on a number of very high-priority regional exploration targets identified during the successful summer program. It will also focus on growing the high-grade, near-surface R800W and R1620E zones at the western and easternmost ends, respectively, of our 2.63km mineralized trend. These zones are presently not included in the Triple R deposit resource estimate."

Program Details

• Large Regional Focus with fifteen regional exploration holes in 8 core holes and 7 Reverse Circulation ("RC") holes, will test a series of high-priority exploration targets.
• DDH exploration holes will be targeted as follows:
  • 2 holes testing a new area of interest approximately 600m west of the R840W zone
  • 2 holes on the west end of the Patterson Lake Corridor
  • 3 holes on a parallel EM conductor located approximately 4km to the north of PLG-3B
  • 1 hole on an EM conductor located between Patterson Lake and Forest Lake Corridors.
• RC exploration holes will be targeted as follows:
  • 2 holes at the east end of the Patterson Lake Corridor
  • 3 holes at the western end of the Patterson Lake Corridor
  • 2 holes near the High-Grade uranium boulder field
• Growing and connecting the zones with 19 holes targeting the R840W and R1620E high-grade, shallow mineralized zones along the 2.63km mineralized trend, which remains open in multiple directions.
• Ground Geophysics to help locate and prioritize new drill targets, consisting of a 28.5 line-km of ground-based Small Moving Loop Time Domain Electromagnetic (SMLTEM) will be conducted in early January 2017. This survey will aid in the proper identification and localization of basement EM conductors, which are critical in early stage exploration drilling.

PLS Mineralized Trend & Triple R Deposit Summary