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Fission Energy to Evaluate Alternatives at Macusani, Peru

Fission Energy (“Fission” or “the Company”) announces that as a result of recent exploration successes by a number of companies operating in the Macusani region of southeastern Peru, the Company has begun evaluating alternatives for its 100% owned Macusani Property to determine the best option for advancing this project and enhancing shareholder value.

 

Ross McElroy, Fission’s President & COO, commented, “We have been monitoring the exploration programs of several companies operating nearby for several months, and the recent successes as evidenced by significant NI 43-101 resource estimates reported by the Vena/Cameco Joint Venture immediately east-northeast of our ground and Macusani Yelllowcake’s Colibri 2 and 3 Property within 1 km to the southeast, in addition to their more recent discovery on the Kihitian Property, located approximately 5 km to the east-southeast, have rekindled our interest in the region. Fission’s Macusani Property exhibits excellent potential for uranium mineralization, and the Company is reviewing data obtained by Strathmore Minerals Corp. several years ago, while under the direction of Jody Dahrouge, now a Director of Fission.”

 

The Macusani Property was part of the original overall land package included in the Fission spin-out from Strathmore Minerals in 2007.  Centrally located within the Macusani Uranium District, it is a highly prospective property that includes nine mining concessions encompassing fifty-one square kilometres. Previous sampling and prospecting identified outcrops of uranium mineralization in the form of autunite-filled fractures with grades up to 0.4% U3O8.

 

Macusani represents a valuable asset in Fission’s inventory of highly prospective uranium properties.  With the closing of the recent private placement financings, the Company’s working capital is approximately $20 million and Fission is now well positioned to fully evaluate alternatives for the Macusani Property as part of its ongoing efforts to build long-term shareholder value.

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