PLS PROPERTY TRENCHING YIELDS BOULDER ASSAYS AS HIGH AS 31.4% U3O8

Fission Energy Corp. (“Fission” or “the Company”) and its 50% Joint Venture (JV) partner ESO Uranium Corp., announce that assays have been received from the 49 radioactive boulders discovered during the trenching program carried out during October 2011 (See press release dated November 1, 2011). The highest grade samples included 31.4% U308 and 31.2% U308. A complete summary of the results is shown below in Table 1.

Table 1 Boulder Assay Results From PLS Trenching Programme    

Number of Boulders

Assay Range

Average Assay

 
 

12*

   >20% U308

   23.7% U308

 

13

10-20% U308

   14.5% U308

 

15

  1-10% U308

     5.2% U308

 

9

    <1%  U308

     0.5% U308

 

*Includes highest assays of 31.4 % U308 and 31.2% U308

 

These radioactive boulders occur in the high grade boulder field that has been traced for a north-south length of approximately 5km X up to 0.9km wide. A map showing the location of these latest results can be found on the Company’s website at .  The previously announced 1,000m drill program targeting shallow basement mineralization (See press release dated November 9 2011), is currently underway. Results will be announced when available.

 

PLS is a 50%/50% Joint Venture held with ESO Uranium Corp. (ESO). PLS 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.

 

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a Qualified Person.

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