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Fission Assays Show Potential to Connect Zones and Expand 2.58km Trend

New high-grade mineralization on the 2.58km mineralized trend

KELOWNA, BRITISH COLUMBIA--(Marketwired - May 17, 2016) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce assay results from the final 9 drill holes from the winter 2016 drill program. Assays confirm further high-grade mineralization expanding the western strike extent at its R840W zone and the eastern extent of the R780E zone at its PLS property in Canada's Athabasca Basin region. In addition, mineralization in hole PLS16-472 (line 435W) has been confirmed by assays which confirms the potential to find further mineralization between the R600W zone and the R00E zone. These holes highlight the potential of growth within the 2.58km long strike length of the Patterson Lake Corridor trend and the potential to expand this strike length.

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

"These final assay results from the highly successful winter program show an increasing potential to connect the shallow, high-grade Triple R deposit to the shallow, high-grade R600W and R1620E zones. In addition, high-grade mineralization confirmed in PLS16-479 (line 960W) extends high-grade mineralization at the westernmost line of the R840W zone, which remains open along strike to the west. Our 2.58km mineralized trend is recognized as one of the largest footprints in the Athabasca Basin region and today's results show, that trend is still open."

Assay Highlights Include:

R840W zone

PLS16-479 (line 960W) key interval:

  • 22.5m @ 1.35% U3O8 (148.0 to 170.5m), including:
    • 3.0m @ 4.96% U3O8 (150.5m to 153.5m)

R780E Zone

PLS16-471 (line 1110E) key interval:

  • 21.5m @ 0.86% U3O8 (214.5m to 236.0m), including:
    • 3.0m @ 1.98% U3O8 (217.0m to 220.0m)
    • 2.5m @ 2.61% U3O8 (225.5m to 228.0m)
Table 1:
 
Zone Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Interval
(m)
U3O8
(wt%)
R840W PLS16-470 825W 332 -81.6 188.50 189.50 1.00 0.23
  PLS16-473 840W 341 -81.0 157.00 165.00 8.00 0.19
          188.00 192.50 4.50 0.07
          197.00 201.00 4.00 0.12
  PLS16-476 915W 338 -78.9 168.70 188.50 19.80 0.56
          176.00 181.00 5.00 1.09
          193.50 203.50 10.00 0.74
          209.00 209.50 0.50 0.12
          215.50 216.50 1.00 0.21
  PLS16-479 960W 349 -81.6 148.00 170.50 22.50 1.35
          150.50 153.50 3.00 4.96
          173.50 174.00 0.50 0.09
          175.00 176.00 1.00 0.08
          280.00 280.50 0.50 0.07
Composite Parameters
  1. Minimum Thickness: 0.50m
  2. Grade Cut-Off: 0.05 U3O8 (wt%)
  3. Maximum Internal Dilution: 2.00m
     
Table 2:
 
Zone Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Interval
(m)
U3O8
(wt%)
R600W PLS16-472 435W 348 -84.3 95.50 97.00 1.50 0.09
          100.00 100.50 0.50 0.06
Composite Parameters
  1. Minimum Thickness: 0.50m
  2. Grade Cut-Off: 0.05 U3O8 (wt%)
  3. Maximum Internal Dilution: 2.00m
     
Table 3:
 
Zone Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Interval
(m)
U3O8
(wt%)
R780E PLS16-471 1110E 339 -66.8 198.50 201.00 2.50 0.15
          205.00 210.50 5.50 0.07
          214.50 236.00 21.50 0.86
          217.00 220.00 3.00 1.98
          225.50 228.00 2.50 2.61
          241.00 244.50 3.50 0.65
          286.50 287.00 0.50 0.17
          290.00 290.50 0.50 0.08
          316.50 319.00 2.50 0.17
  PLS16-475 1140E 337 -70.2 190.50 193.00 2.50 0.24
          196.00 206.50 10.50 0.23
          216.00 216.50 0.50 0.11
          218.00 218.50 0.50 0.06
          234.50 235.00 0.50 0.19
          330.50 331.00 0.50 0.08
Composite Parameters
  1. Minimum Thickness: 0.50m
  2. Grade Cut-Off: 0.05 U3O8 (wt%)
  3. Maximum Internal Dilution: 2.00m
     

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MARKET SUMMARY

INDICES

Table 4:
 
Zone Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Interval
(m)
U3O8
(wt%)
R1620E PLS16-474 1395E 367 -71.2 69.50 72.50 3.00 0.11
  PLS16-481 1515E 331 -72.9 87.50 99.50 12.00 0.17
          108.00 109.00 1.00 0.11
          111.50 117.50 6.00 0.18
          126.00 126.50 0.50 0.08
          136.00 143.50 7.50 0.12
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