Fission Targets R600W, Triple R and High-Priority Regional Drilling with 35 Hole Program

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1 Suite Dicksn Ave. Kelwna, BC V1Y 9Y2 TSX SYMBOL: FCU OTCQX SYMBOL: FCUUF January 21, 2016 FRANKFURT SYMBOL: 2FU Fissin Targets R600W, Triple R and High-Pririty Reginal Drilling with 35 Hle Prgram Drilling t fcus n aggressive R600W expansin and key explratin targets identified during the 2015 summer prgram FISSION URANIUM CORP. ("Fissin" r the Cmpany") is pleased t annunce the cmmencement f a $7.2M winter explratin prgram cnsisting f 11,800m in 35 hles f drilling and a 214 line-km airbrne HeliSAM MMC (Magnetmetric Cnductivity) survey at its PLS prperty in Canada's Athabasca Basin. The drill prgram will include 10,000m in 29 hles f cre (DDH) drilling and 1,800m in 6 hles f Reverse Circulatin (RC) drilling. Drill prgram highlights are as fllws: Eighteen hles will fcus n further grwth f the high-grade, shallw mineralized znes including the R600W, R780E and R1620E. It shuld be nted that neither the R600W nr R1620E are yet included in the Triple R depsit resurce estimate. Eleven hles will test high-pririty explratin targets, including clser fllw up assciated with the PLG-1B cnductr, lcated 470m nrth f the R600W zne, where hles PL and PLS intersected anmalus radiactivity in the dwn-hle gamma survey (PLS with a maximum f 7,965 cps at 153.5m and PLS with a maximum f 4,168 cps at 100.8m). Six RC explratin hles will test fr basement bedrck uranium mineralizatin alng the PLG-3B EM Cnductr apprximately 200m t 500m west alng strike f the R600W zne. Pre-cllaring f the DDH cre hles by the RC drill rigs has already begun and cre drilling is expected t cmmence in the last week f January. An advanced, tight-spaced airbrne HeliSAM MMC survey is designed t btain highreslutin gephysical detail f the bedrck within a particularly prspective area f the Pattersn Lake Cnductive Crridr including the Triple R s depsit and the 2.33km mineralized trend, with particular emphasis n hydrthermal clay alteratin and structural cntrls t mineralizatin. The survey has the ptential t identify specific areas with the greatest prspectivity f finding additinal mineralizatin. Rss McElry, President, COO, and Chief Gelgist fr Fissin, cmmented, "We have entered a new and exciting phase at PLS, with three clear areas f fcus. We will f curse cntinue building n the resurce size and assciated ecnmics f the Triple R depsit, which were established by the recently-

2 cmpleted Preliminary Ecnmic Assessment (PEA). We will als be targeting further grwth f the high-grade R600W zne with a view t adding it t an updated Triple R resurce estimate later this year as well as further evaluating the eastern R1620E zne. In additin, we will drill test a number f highly prspective and prmising explratin targets, including five n the PLG-1B cnductr as a fllw up t the strng, anmalus alteratin and radiactivity we encuntered in tw hles during the summer 2015 prgram. Altgether an exciting time fr the cmpany, particularly with the CGN Mining deal expected t clse n r befre January 28, Key Technical Infrmatin 11,800m f drilling utilizing up t 3 diamnd drill cre rigs and 2 RC drill rigs. Resurce Grwth Drilling: apprximately 55% f the drill meter budget will be allcated twards resurce grwth and will be targeted as fllws: R600W seven hles R780E six hles R1620E five hles Explratin Drilling: apprximately 45% f the drill meter budget will be allcated twards explratin targeting, testing favrable high pririty areas assciated with bedrck alteratin, structural features and radn anmalies alng electrmagnetic (EM) cnductrs as interpreted frm gephysics surveys. Prspective targets include: PLG-1B EM Cnductr five hles Fllw up f results frm anmalus hles PLS15-419, 422 and 425 Hles will test dwn-dip and alng strike f the anmalus radiactivity identified in hle PLS (peak f 7965 cps) and PLS (peak f 4168 cps) PLG-3B West EM Cnductr tw DDH cre hles and six RC hles 1 DDH hle lcated 80m east f R600W between R600W and R00E znes where many strng radn anmalies have been identified 1 DDH hle lcated 135m west f R600W zne 3 RC hles drilled alng a fence pattern acrss the cnductr lcated 200m t the west f the R600W zne 3 RC hles drilled alng a fence pattern acrss the cnductr lcated 500m t the west f the R600W zne PLG-3A EM Cnductr ne hle 1 hle targeting the PLG-3A cnductr apprximately 1 km east f the high-grade uranium bulder field, where prmising gephysical signatures including a resistivity lw assciated with flexures in the cnductr are present. Area B ne hle Area B represents an area f anmalus radn anmalies t the Nrth-East f main Pattersn Lake Crridr. The drill hle will fllw up n the large brittle graphitic fault encuntered in PLS15-

3 323 ver an 87m (dwn-hle) wide interval. Previus hles in this area failed t intersect this fault structure Area C ne hle Area C represents an area f anmalus lake bttm spectrmeter uranium readings. One hle will target the mst prspective prtin f this anmalus area. Frrest Lake Cnductive Crridr ne hle This target represents a gravity lw cincident with a break in the PLV-41D EM cnductr and thus may be a suitable lcatin fr fcusing uranium mineralized fluids. One hle will evaluate this target. Airbrne gephysics - HeliSAM MMC (Magnetmetric Cnductivity) Survey 214 line-km helicpter supprted airbrne survey at 50m line-spacing with readings every 10m Survey will cver an area f 4.4 km x 2.4 km ver a highly prspective sectin f the Pattersn Lake Cnductive Crridr, which includes the 2.33km trend f mineralizatin (including the Triple R depsit and R600W and R1620E znes) assciated with the PLG-3B EM cnductr and als the highly prspective PLG-1B EM cnductr where 3 hles PLS15-419, PLS and PLS encuntered anmalus radiacitivity and highly prspective clay alteratin. The survey will be evaluated as an alternative t mre expensive grund DC Resistivity surveys fr the detailed reslutin f lw-resistivity. This survey has the ptential t detect structures and alteratin features that may be assciated with uranium mineralized systems. The ptential exists t detect new mineralizatin with this system, because f the tight lines-spacing, and because the grund is energized in a much different manner than a cnventinal 200 m line-spaced ple-diple resistivity methd Envirnmental Baseline and Cmmunity Engagement Wrking with Canada Nrth Envirnmental Services (CanNrth) Fissin will cntinue with its baseline envirnmental mnitring and advance its Cmmunity Engagement effrts with lcal stakehlders The diamnd drill cring cntract has been awarded t Brysn Drilling, f Archeville, SK. RC Drilling, has been awarded t Nrthspan Explratins Ltd. f Kelwna, BC. The winter drill prgram fllws six prir prgrams that have seen unprecedented success in the uranium sectr and delivered a wrld class, large, shallw depth, high-grade uranium resurce nw knwn as the Triple R depsit. PLS Mineralized Trend & Triple R Depsit Summary Uranium mineralizatin at PLS has been traced by cre drilling apprximately 2.33km f east-west strike length in fur separate mineralized "znes". Frm west t east, these znes are: R600W, R00E, R780E and R1620E.

4 The discvery hle f what is nw referred t as the Triple R uranium depsit was annunced n Nvember 05, 2012 with drill hle PLS12-022, frm what is cnsidered part f the R00E zne. Thrugh successful explratin prgrams cmpleted t date, it has evlved int a large, near surface, basement hsted, structurally cntrlled highgrade uranium depsit. The Triple R depsit cnsists f the R00E zne n the western side and the much larger R780E zne further n strike t the east. Within the depsit, the R00E and R780E znes have an verall strike length f apprximately 1.2km with the R00E measuring apprximately 125m in strike length and the R780E znes measuring apprximately 900m in strike length. A 225m gap separates the R00E zne t the west and the R780E znes t the east, thugh spradic narrw, weakly mineralized intervals frm drill hles within this gap suggest the ptential fr further significant mineralizatin in this area. The R780E znes are lcated beneath Pattersn Lake which is apprximately six metres deep in the area f the depsit. The entire Triple R depsit is cvered by apprximately 50 m f verburden. Mineralizatin remains pen alng strike bth t the western and eastern extents. Mineralizatin is bth lcated within and assciated with a metasedimentary lithlgic crridr, assciated with the PL-3B basement Electr-Magnetic (EM) Cnductr. Recent very psitive drill results returning wide and strngly mineralized intersectins apprximately 555m west f the Triple R depsit, have significantly upgraded the R600W zne t a very prspective area fr further grwth f the PLS resurce. An updated map can be fund n the Cmpany's website at Samples frm the drill cre will be split in half sectins n site. Where pssible, samples will be standardized at 0.5m dwn-hle intervals. One-half f the split sample will be sent t SRC Geanalytical Labratries (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatn, SK fr analysis which includes U3O8 (wt %) and fire assay fr gld, while the ther half will remain n site fr reference. Analysis will include a 63 element ICP-OES, and brn. Pattersn Lake Suth Prperty The 31,039 hectare PLS prject is 100% wned and perated by Fissin Uranium Crp. PLS is accessible by rad with primary access frm all-weather Highway 955, which runs nrth t the frmer Cluff Lake mine and passes thrugh the nearby UEX-Areva Shea Creek discveries lcated 50km t the nrth, currently under active explratin and develpment. The technical infrmatin in this news release has been prepared in accrdance with the Canadian regulatry requirements set ut in Natinal Instrument and reviewed n behalf f the cmpany by Rss McElry, P.Gel. President and COO fr Fissin Uranium Crp., a qualified persn. Abut Fissin Uranium Crp. Fissin Uranium Crp. is a Canadian based resurce cmpany specializing in the strategic explratin and develpment f the Pattersn Lake Suth uranium prperty - hst t the wrld-

5 class Triple R uranium depsit - and is headquartered in Kelwna, British Clumbia. Fissin s cmmn shares are listed n the TSX Exchange under the symbl "FCU" and trade n the OTCQX marketplace in the U.S. under the symbl "FCUUF." ON BEHALF OF THE BOARD Investr Relatins Rich Matthews "Rss McElry" TF: rich@fissinuranium.cm Rss McElry, President and COO Cautinary Statement: Certain infrmatin cntained in this press release cnstitutes frward-lking infrmatin", within the meaning f Canadian legislatin. Generally, these frwardlking statements can be identified by the use f frward-lking terminlgy such as "plans", "expects" r "des nt expect", "is expected", "budget", "scheduled", "estimates", frecasts", "intends", "anticipates" r "des nt anticipate", r "believes", r variatins f such wrds and phrases r state that certain actins, events r results "may", "culd", "wuld", "might" r "will be taken", "ccur", "be achieved" r has the ptential t. Frward lking statements cntained in this press release may include statements regarding the future perating r financial perfrmance f Fissin and Fissin Uranium which invlve knwn and unknwn risks and uncertainties which may nt prve t be accurate. Actual results and utcmes may differ materially frm what is expressed r frecasted in these frward-lking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrunding future expectatins. Amng thse factrs which culd cause actual results t differ materially are the fllwing: market cnditins and ther risk factrs listed frm time t time in ur reprts filed with Canadian securities regulatrs n SEDAR at The frward-lking statements included in this press release are made as f the date f this press release and the Cmpany and Fissin Uranium disclaim any intentin r bligatin t update r revise any frward-lking statements, whether as a result f new infrmatin, future events r therwise, except as expressly required by applicable securities legislatin.