2nd Step-Out Hole at PLS Hits 37m of Continuous Mineralization Including a Total of 4.35m Off-Scale

FISSION ENERGY CORP. (“Fission” or “the Company”), and its Joint Venture partner Alpha Minerals Inc. are pleased to announce the results of the first two holes of the Winter 2013 exploration program at the Patterson Lake South (PLS) property. Both holes were drilled at a 15m step-out to the west of hole PLS12-024 (12.5m @ 2.49% U3O8: see news release dated Nov. 12, 2012).

§ PLS13-027 – 37.0m continuous mineralization; total intervals >9999 cps – 4.35m

§ PLS13-026 – 21.0m continuous mineralization; total intervals >9999 cps – 0.75m

 

Results include:                       

Hole PLS13-027: 37.0m wide interval of well-developed mineralization (60.5 – 97.5m) including intermittent intervals totaling 4.35m of radioactivity >9999cps. PLS13-027 was drilled 15m grid west of hole PLS12-024 and 10m grid south of PLS13-026.

Hole PLS13-026: 21.0m wide interval of strong mineralization (63.0 – 84.0m) including intermittent intervals totaling 0.75m of radioactivity >9999cps. PLS13-026 was drilled 15m grid west of PLS12-024.

As was the case with previous drill results from the fall 2012 program (holes PLS12-022, 023, 024 and 025), the mineralization occurs at shallow depth in basement rocks. The strongly radioactive intervals occur within a broader region of moderate radioactivity that extend above the Archean basement into the overlying sandstone and extends downward into the basement.

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

“We are clearly encouraged by these results from the first two step-out holes on the property this winter. PLS13-027 represents the broadest and most robust radioactivity we have found to date and is a fantastic start to the winter program.” Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Key Technical Details:

 A thin layer of sandstone (possibly Devonian age) is present immediately above the unconformity in both holes. Mineralization extends up into this horizon.

 Both holes are comprised of alternating pelite and graphitic pelite basement lithology with weak to strong clay and chlorite alteration. Narrow pegmatite intrusions are common throughout. Some strongly mineralized zones are characterized with intense hematite and chlorite alteration.

 

Hole Summary * Mineralization (>300 cps / 0.5M minimum) Sandstone Unconformity Total
Hole ID Grid Line Az Dip From – To (m) Width (m) CPS Max Peak From – To (m) Depth (m) Depth (m)
PLS13-026 025W 0 -90 63.0 – 84.0 21.0 306 – >9999 59.9 – 63.8 63.8 172.8
88.5 – 90.0 1.5 320 – 1900
PLS13-027 025W 0 -90 60.5 – 97.5 37.0 180 – >9999 56.39 – 62.30 62.3 255.1
106.0 – 106.5 0.5 660
                           

 

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