Fission Accelerates Pre-Feasibility Work; Targets New Western Mineralization

KELOWNA, BRITISH COLUMBIA--(Marketwired - July 6, 2017) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce preparations have begun for a $6.59M summer work program at its award-winning PLS project in Canada's Athabasca Basin. The program will focus on two core goals: growing the recently-discovered, high-grade R1515W zone and accelerating progress towards pre-feasibility stage - a key milestone for eventual production at PLS.

Growing New Westernmost Zone: Seven holes (2,380m) will focus on expansion of the recently discovered high-grade, shallow and land-based R1515W zone.

• The R1515W is the westernmost zone on the 3.17km trend outlined by Fission as the Company pushes west from the Triple R deposit, towards the large, high-grade boulder field.
• To date, a total of eight holes have been drilled in the R1515W zone area, including results such as 12.0m @ 3.16% U₃O₈ (PLS17-553) followed by 14.5m @ 0.82% U₃O₈.
• The current mineralized strike length of the zone is 60m and this summer will seek to expand the strike length and width.

Accelerating Progress Towards Pre-Feasibility Study: Fission is targeting the end of 2018 to complete work necessary for a Pre-Feasibility Study (PFS) on its' Triple R deposit. Working with a group of highly regarded engineering and project development consultants, such as RPA Inc. (mine planning), BGC Engineering Corp. (geotechnical and hydrogeology), Melis Engineering Ltd. (metallurgy), Can North (environmental and community relations), Clifton Associates (environmental and regulatory), a large focus of this Summer's program will concentrate on data collection and analysis of various areas required for an advanced PFS study, including metallurgical pit-wall perimeter geotechnical drilling, and hydrogeological hole monitoring.

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

"PLS has the potential to be the first open pit uranium operation in the Athabasca Basin in decades and, with mineralization at such a shallow depth, we are able to simultaneously accelerate our progress towards PFS stage - a key step on the road to possible future production - whilst continuing to expand our known mineralization at PLS. With the decision to target the end of 2018 for a PFS study, this program will include a variety of metallurgical and geotechnical work. At the same time, we will be drilling a number of holes to grow R1515W - the new, high-grade zone that was discovered during the most recent program, as we move further west from the Triple R deposit, towards the high-grade boulder field."