The Energy Report

Fission Energy Corp. TICKER: FIS:TSX.V; FSSIF:OTCQX Visit Company Website Fission Energy is a Canadian-based uranium exploration and development company with properties in Quebec, Peru's Macusani District and Saskatchewan's Athabasca Basin, where it's assembled an exceptional exploration property portfolio in one of the world's richest uranium deposits. Basin projects include the Waterbury Lake KEPCO Consortium JV and promising exploration projects at Patterson, Davy and Duddridge Lakes and the North Shore. In Quebec, Fission holds 100% of the Dieter Lake Property, which has an NI 43-101 inferred resource of 24 Mlb.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Morning Coffee (2/22/12) "Fission Energy Corp. and its partner, the Korea Waterbury Uranium Limited Partnership (led by Korea Electric Power), announced results for the next 11 holes drilled in the J zone on the Waterbury Lake property in the eastern Athabasca Basin, Saskatchewan. Management highlighted that three stepout holes, WAT12-237B, 242 and 244, drilled laterally to the north of the central J zone boundary, have intersected wide intervals of well-developed mineralization, including 14m, 11m and 15m respectively, in the sandstone and the basement immediately below the unconformity."

Michael Smedley, Investor's Digest of Canada (2/15/12) "Fission Energy Corp. is one of six uranium stocks poised for a rebound. . . interest is building in the company, an early-stage uranium play next door to Hathor's Rough Rider deposit; admittedly, Fission has so far logged lower grades, but its territory has potential. It also has a drill program elsewhere in the Athabasca Basin, as well as assets in Quebec and Peru."

Deborah Sterescu, Proactive Investors (2/15/12) "Fission Energy Corp., together with its joint venture partner ESO Uranium Corp, has staked six new claims along the south boundary of its Patterson Lake South property in Saskatchewan. . .the six new claims, which were staked to cover possible south-trending extensions of the wide, high-grade Uranium boulder field discovered by the joint venture in June of last year, total around 8,170 ha."

Deborah Sterescu, Proactive Investors (1/26/12) "Fission Energy Corp., together with its joint venture partner, has decided to boost the current winter 2012 exploration budget at its Waterbury Lake uranium project by 26% to $9.28M. . .the expanded drilling will be designed to supplement original plans for several high-priority regional targets, including the Summit zone, the Oban Corridor and Murphy Lake. . .this drilling will allow the company to further test the potential of these areas for hosting high-grade uranium mineralization."

David Talbot, Dundee Securities (1/17/12) "Initial J-Zone resource estimate totals 8.9 Mlb uranium, including 7.4 Mlb grading 1.99% uranium Indicated. We recommend Fission Energy as a BUY based on this initial J-Zone resource estimate and are upgrading our risk rating to Speculative from Venture. . .this first pass J-Zone resource reminds us quite a bit of the initial 12 Mlb uranium Roughrider resource reported by Hathor in 2009 on the property adjacent to Fission's J-Zone. . .high grades found at J-Zone including 46% uranium over 2m within 7.84% over 14.5m are an indication that higher-grade pods may be found. Further drilling should help provide those little details. What we notice is that J-Zone is already larger on a tonnage basis than the original Roughrider resource with lower grades."

• Corporate Presentation (1/16/12)

(8/25/11) FIS News Alert

(2/16/11) CEO Dev Randhawa Interview

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