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Fission Hits Multiple High-Grade Holes at Both Ends of 2.58km Trend

Drilling Expands R840W and R1620E Zones with Shallow, High-Grade Holes

KELOWNA, BRITISH COLUMBIA--(Marketwired - Aug. 2, 2016) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce results from nine holes at its award-winning PLS project, host to the shallow, high-grade Triple R deposit, in Canada's Athabasca Basin region: four holes drilled on R840W zone, four on R1620E zone and one within the gap between the R600W and R00E zones. Of key importance, wide, high-grade, shallow mineralization has been drilled at both R840W and R1620E - the westernmost and easternmost zones on Fission's 2.58km trend. Of additional note, the high-grade core of R1620E zone has now reached over 95.0m in strike length. Drill Hole PLS16-500 hit 43.0m total composite mineralization, including 8.48m of >10,000 cps.

The high-grade R840W and R1620E zones have not yet been assessed for a resource estimate, but the significant intersections encountered on both zones indicate the potential to add to a resource estimate.

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

"Our strategy of targeting both ends of our 2.58km mineralized trend - the largest in the Athabasca Basin region - is proving to be very successful. Results at the R840W and R1620E zones include thick, high-grade mineralization near-to-surface. We have also grown the R1620E's high-grade core to over 95m, which speaks to the potential of this rapidly-growing zone."

Drilling Highlights Include:

  • PLS16-500 (line 1545E)
    • 43.0m total composite mineralization over a 60.5m interval (between 86.0m to 146.5m), including
    • 8.48m of total composite >10,000 cps
  • PLS16-498 (line 1515E)
    • 31.0m total composite mineralization (between 73.0m to 104.0m), including
    • 4.72m of total composite >10,000 cps
  • PLS16-495 (line 855W)
    • 66.0m total composite mineralization over a 80.0m interval (between 137.0m to 217.0m), including
    • 3.00m of total composite >10,000 cps

R840W

    Collar * Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum)     Basement Total
Hole ID Zone Grid
Line

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