Fission Expands Winter Program; Doubles Exploration Drilling

KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 16, 2017) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce that the winter exploration drill program at its PLS property in Canada's Athabasca Basin, will be expanded to include a further 29 new drill holes, for a total of 63 holes (19,020m). PLS hosts the Triple R - the only major deposit in the Basin with a high-grade core starting at 50m from surface, as well as two additional, similarly shallow and high-grade zones. The majority of the additional holes will focus on high-priority regional exploration targets with the objective of making a new, near-surface, high-grade discovery at PLS. Drilling, which has now begun, will also seek to grow the new shallow, high-grade zones (R840W and R1620E) at each end of the 2.63km mineralized trend, for potential inclusion in the future resource estimate update.

Newly Expanded Exploration Drill Program Highlights

The addition of 29 holes brings the total number of Winter drill holes to 63 holes, including:

• 37 holes, including 23 core and 14 reverse circulation (RC) holes, focusing on key regional exploration targets for potential new discovery. These target areas include:
  • An area of interest approximately 600m west of the R840W zone
  • Untested areas to the west along the Patterson Lake Corridor, near the High-Grade uranium boulder field
  • Carter Corridor - a parallel conductive trend to the Patterson Lake Corridor located approximately 4km north of the Triple R deposit
  • EM conductors located between Patterson Lake and Forest Lake Corridors
  • Eastern and western ends of the Patterson Lake Corridor
• 26 holes focused on expansion of the new recently discovered high-grade R840W and R1620E zones located on the western and eastern ends of 2.63km mineralized trend. These zones 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
• Land Based Acoustic Survey to obtain detailed information of overburden and, importantly, maps out the overburden / bedrock interface and any subtle faulting and offsets at the bedrock and shallow basement penetration

Total winter exploration budget is $9.6M Ross McElroy, President, COO, and Chief Geologist for Fission, commented,