Fission Pushes Towards Pre-Feasibility and Additional Western Zone Expansion

KELOWNA, BRITISH COLUMBIA--(Marketwired - Jan. 16, 2018) - FISSION URANIUM CORP. ("Fission" or "the Company") (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) is pleased to announce preparations have begun for a $9.4M winter work program at its award-winning PLS project in Canada's Athabasca Basin. The 31 hole program will focus on two core goals: growth of the recently-discovered, high-grade R1515W zone and accelerating progress towards the pre-feasibility study "PFS", which is a key milestone for potential eventual production at PLS.

Fission has retained Roscoe Postle Associated Inc. "RPA" to serve as the lead consultant for the completion of a PFS and to author a NI 43-101 Technical Report to support the disclosure of the PFS. RPA will directly carry out the mine development plan and provide overall project management services to oversee and coordinate inputs from all technical contributors to the PFS. RPA will be supported by several highly-regarded engineering and consulting firms that have relevant specialization and experience in geotechnical, metallurgical, environmental aspects of large scale uranium mining operations in northern Saskatchewan, many of which have a long-term working relationship with Fission and the PLS project.

Growing the High-Grade, Near-Surface, Land-based R1515W Zone: Eight holes (2,720m) will focus on further expansion of the recently-discovered, high-grade, shallow and land-based R1515W zone.

• The land-based R1515W is the westernmost zone on the 3.18km trend outlined by Fission as the Company pushes west from the Triple R deposit, towards the large, high-grade boulder field.
• Drill results on the R1515W zone have been very encouraging to date, and include results such as hole PLS17-564 (line 1545W), located 1.4km west of the Triple R Deposit, which intersected 128.0m of total composite mineralization, including intervals such as 7.0m @ 6.90% U₃O₈ in 14.50m @ 3.39% U₃O₈ and 7.0m @ 6.36% U₃O₈ in 10.50m @ 4.35% U₃O₈.
• The R1515W exhibits some important geological characteristics similar to the R780E zone, such as multiple stacked lenses, which can be a component of wide, high-grade mineralization

Accelerating Progress Towards Pre-Feasibility Study: 23 holes (3,840m) will continue to advance the resource development of the Triple R deposit to PFS level.