PLS PROPERTY ADVANCED TO DRILL STAGE

Fission Energy Corp. (“Fission or “the Company”) and its 50% Joint Venture (JV) partner  ESO Uranium Corp., announce that Aggressive Drilling Ltd., of Prince Albert Saskatchewan, has been contracted to complete a ten hole, 1,000m drill program, scheduled to  begin at the PLS Property in mid-November.

 

The initial drill locations selected target shallow basement mineralization along the down-ice flanks of resistivity targets, close to areas of apparent cross-cutting structures that are flagged by discontinuities and flexures in the conductors. The detailed positioning of final drill target locations will be made following analysis of the data obtained from the geophysical surveys now underway.

 

Patterson Geophysics Ltd. has been contracted to carry out a ground geophysical survey consisting of 30.8 line-km of horizontal loop electromagnetic (HLEM or max-Man) and DC-Resistivity.  The ground geophysics program is designed to accurately confirm historic ground Electromagnetic (EM) conductors, and test areas along the conductors for resistivity targets that may reflect, possibly reflecting bedrock hydrothermal alteration.

 

Drill Target Review:

 

  • General ice direction is from the east-northeast – Boulders appear to have been deposited down-ice from that direction
  • The largest high grade boulders, which to date have yielded values as high as   39.6% U308 (see press release dated July 27, 2011) are found in two clusters on the west-southwest end of the Patterson Conductor Corridor
  • Historical drill holes CLU 6-79 and CLU 12-79, completed by Canadian Occidental Petroleum Ltd.  in the 1970s, bracket a section of the Conductor Corridor that indicates possible disruption of conductors by cross cutting structures associated with radon anomalies in soils

 

Drilling is expected to be completed before the end of the year. Each drill hole will be surveyed downhole for radioactivity with a Mount Sopris 2PGA-1000 Gamma/SP probe. Drill core will be split and sent to SRC Geoanalytical Laboratories for analysis. Results will be provided when available.

 

An updated drill location map can be found on the Company’s website at http://www.fission-energy.com/s/pattersonlakesouth.asp

 

The Patterson Lake South Property is a 50%/50% Joint Venture held with ESO Uranium Corp. The Patterson Lake South Property is accessible by road with primary access from all weather Highway 955, which runs north to the former Cluff Lake mine, (>60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

 

ON BEHALF OF THE BOARD

"Ross McElroy"
Ross McElroy, President & COO

FISSION URANIUM CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION URANIUM CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FCU".

This press release contains "forward-looking information" that is based on Fission Uranium Corp's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission Uranium Corp's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission Uranium Corp's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission Uranium Corp. disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Investor Relations
Rich Matthews
TF: 877-868-8140
ir@fissionuranium.com
www.fissionuranium.com