EDITOR: | September 16th, 2013

Fission Confirms 4th Zone with 103.5m Total Composite Mineralization including 9.92m Total Composite Off-scale

| September 16, 2013 | No Comments
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September 16, 2013 (Source: Marketwired) — FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) (“Fission” or “the Company“) the Operator, and its Joint Venture partner Alpha Minerals Inc. are pleased to announce results from two additional holes drilled on the R945E Zone at its Patterson Lake South (PLS) property in Canada’s Athabasca Basin; PLS13-092 and 096. PLS13-096 returned 103.5m total composite mineralization, including 9.92m total composite off-scale (>9999 cps) recorded within several intervals and a discrete 3.19m of continuous off-scale. These are the widest continuous and strongest results encountered so far at R945E Zone. Fission has now hit significant off-scale mineralization at all four zones at PLS (R00E, R390E, R780E, R945E).

Drilling Highlights include:

  • PLS13-096: Multiple intervals of variable-strength mineralization that yield a total composite of 103.5m mineralization within a 223.5m section (94.0 to 317.5m), where barren intervals range from widths of 2.0 to 19.0m. Mineralized widths range from 0.5 to 42.5m and are highlighted by:
  • 42.5m of continuous, variable-strength mineralization (135.5m to 178.0m), including:
    • 3.21m of total composite off-scale (>9999 cps) radioactivity in several intervals
  • 14.5m of continuous, variable-strength mineralization (249.0m – 263.5m) including:
    • 4.39m of total composite off-scale (>9999 cps) radioactivity in several discrete intervals

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

This summer’s drilling program continues to deliver on-strike and with these latest results we will potentially see our high-grade strike length increase from 400m to more than 1km. We are extremely pleased with progress to date.”

Composited U3O8 mineralized intervals are summarized in Table 1 below. Samples from the drill core are split in half on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to the laboratory for analysis and the other half remains on site for reference. All depth measurements reported, including sample and interval widths are down-hole, core interval measurements and true thickness are yet to be determined.

R945E Zone:

The R945E zone discovery was the result of follow-up by drilling of a radon in water anomaly identified during the Phase 2 EIC Radon In Water and Radon in Sediment Survey Program completed during April 2013. The radon anomaly is the strongest radon in water anomaly to date at (13.3 pCl/L (see News Release May 6, 2013). This anomaly lies along an ENE trend, parallel to the PL-3B EM conductor.

Hole PLS13-092 (line 945E) was collared as a vertical hole and completed to a depth of 377.0m. Weak to moderate to locally strongly anomalous and intermittent radioactivity was encountered between the depths of 157.5m to 318.0m in intervals ranging from 0.5m up to 16.0m wide. The most robust radioactivity is present in a 16.0m interval from 163.0m to 179.0m which is variably weak to locally strongly radioactive throughout including several narrow intervals from 0.2m to 0.5m wide of off-scale (>9999 cps) totaling a composite of 0.9m. Basement bedrock was encountered at 59.0m below the surface. The basement lithology is comprised of alternating sequences of predominantly pelitic and psammitic gneiss. A diabase unit was intersected from 362.8m to 377.0m (EOH).

Hole PLS13-096 (line 930E) was collared as a vertical hole and completed to a depth of 365.0m. The hole is located approximately 15m grid west of hole PLS13-084 (18.0m of radioactive mineralization with 2.7m total composite off-scale…see news release August 15, 2013). A total of 17 discrete intervals of variably weak to strongly radioactive mineralization occurred within a 223.5m section (94.0m to 317.5m) in widths ranging from 0.5m to 42.5m. Four of these intervals contain discrete intervals of off-scale (>9999 cps) radioactivity from 0.1m to 3.19m wide, for a total measured composite of 9.92m of off-scale radioactivity. Basement bedrock was encountered at 56.5m below the surface. The upper part of the lithologic sequence (56.5m to 84.1m) is comprised of a quartzitic gneiss. From 84.1m to 276.7m a pelitic gneiss dominates with local narrow intervals (0.9m to 9.4m wide) of undifferentiated mylonites, transitioning to a semi-pelitic gneiss from 276.7m to 365.0m (EOH). Moderate chlorite alteration is present throughout the hole from 56.5m to from 56.5m to 136.0m, with hematitic clay dominating from 136.0m to 175.4m. Sulphide bearing intervals occur from 175.4m to 241.6m.

Table 1
R945E
** Hole
Location
* Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum) Sand-
stone
Base-
ment
Uncon-
formity
Total
Drill-
hole
Hole
ID
Grid
Line
Az Dip From
(m)
To
(m)
Width
(m)
CPS
Peak
Range
From
– To (m)
Depth
(m)
Depth
(m)
PLS13-092 945E 145 -88 157.5 160.5 3.0 <300 – 1400 No
Sandstone
59.0 377.0
163.0 179.0 16.0 <300 – >9999
192.5 203.5 11.0 <300 – 1800
224.5 225.0 0.5 700
238.0 240.5 2.5 460 – 2500
257.5 260.0 2.5 <300 – 560
263.5 264.0 0.5 1000
290.0 291.5 1.5 400 – 640
316.0 318.0 2.0 <300 – 470
PLS13-096 930E 269 -89 94.0 94.5 0.5 340 No Sandstone 56.5 365.0
97.5 105.5 8.0 <300 – 3800
111.5 114.0 2.5 <300 – 510
130.0 130.5 0.5 310
133.0 133.5 0.5 300
135.5 178.0 42.5 <300 – >9999
182.0 183.0 1.0 2200 – 2400
185.5 197.0 11.5 310 – >9999
204.0 209.0 5.0 <300 – 7600
219.0 220.0 1.0 470 – 1300
223.5 225.0 1.5 450 – 1900
235.5 246.0 10.5 <300 – >9999
249.0 263.5 14.5 <300 – >9999
280.0 280.5 0.5 430
286.0 287.0 1.0 390 – 490
296.0 297.5 1.5 320 – 650
316.5 317.5 1.0 300 – 360
* Scintillometer Instrument: GR-110G
** Azi / Dip at 50m Depth

Patterson Lake South Property

The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Fission Uranium Corp. and Alpha Minerals Inc (AMW). Fission is the Operator. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development. Updated maps and scintillometer table for the R945E zone can be found on the Company’s website at https://www.fissionuranium.com/projects/patterson-lake-south-sk/.

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 Uranium Corp., a qualified person.

About Fission Uranium Corp.

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. Common Shares are listed on the TSX Venture Exchange under the symbol “FCU” and trade on the OTCQX marketplace in the U.S. under the symbol “FCUUF.”

ON BEHALF OF THE BOARD
“Ross McElroy”
Ross McElroy, President and COO

Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding potential spin-out and listing of Fission Uranium and the future operating or financial performance of Fission and Fission Uranium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Fission Uranium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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