Fission Uranium Corp.

Fission is the most awarded uranium explorer in the world. It owns the PLS project in Canada’s Athabasca Basin, home to the world’s richest uranium deposits. PLS is host to the Triple R deposit – the only major, high-grade deposit in the region that is near-surface – together with three additional high-grade, shallow-depth zones. This mineralization is part of a 2.58km mineralized trend that has the largest footprint in the Athabasca Basin and is still open in multiple directions. Exploration is ongoing.

Fission has won the industry’s top awards, including The Northern Miner’s Mining Person/s of the Year, PDAC’s Bill Denis Award and The Mining Journal’s Excellence Award. Most recently, The Mining Journal ranked PLS as the top undeveloped uranium project in the world. Headed up by CEO Dev Randhawa, the company has made two major uranium discoveries in three years. President and Chief Geologist, Ross McElroy, has been instrumental in five of the last ten major discoveries in the basin. In January, 2016, CGN Mining invested $82M (cash) in Fission at a premium, ensuring the company is very well-funded.

Expert Comments:

Brien Lundin, Gold Newsletter (Jefferson Financial) (2/1/17)
"Fission Uranium Corp. is about to embark on an aggressive regional exploration program on its Patterson Lake South uranium project. . .I'm excited about this program, as the company's geologists have already amply demonstrated their ability to turn promising surface showings into a significant, high-grade and near-surface uranium deposit."

In the wake of announced production cutbacks by Kazakhstan's state-owned uranium mining powerhouse, Kazatomprom, the beleaguered uranium market has seen an upswing.
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Brien Lundin, Gold Newsletter (Jefferson Financial) (11/8/16)
"Fission Uranium Corp. has been using drilling on the outer limits of its Triple R deposit to grow that deposit’s already world-class stash of uranium. . .over the long-term, the insitu value it has already proved up at Triple R, combined with the exploration success the company continues to enjoy, will make current prices seem cheap by comparison. . . .that said, current market conditions call for caution in this sector. . .we’ll keep Fission a hold until we get a better sense of the broader market for the energy metal."

Rob Chang, Cantor Fitzgerald (10/27/16)
"Our recommendation for Fission Uranium remains a BUY at a $1.15 per share. . .a constant stream of high-grade assay results from the $13.3M budgeted summer drill program targeted 52 holes totaling 15,200m of total drilling; 36 of the 52 targeted holes were dedicated to connecting the various high-grades zones. . .the high-grade R840W Zone (along with the R1620E Zone) has the potential to add to the current resource. An updated resource estimate is expected for some time in 2017."

Heiko Ihle, Rodman & Renshaw (10/25/16)
"We are reiterating a Buy rating and $1.70 per share price target on Fission Uranium Corp. . .our valuation is based on a DCF of operations at PLS utilizing a 10.0% discount rate and a long-term uranium price of $65 per pound (beginning in 2023). . .to this, we add cash and value for future resource expansion outside of the currently defined resource base with an additional 30 million pounds at an average price of $6.75 per pound. . . we continue to view Fission as an eventual takeout target and expect future drilling campaigns to significantly expand the project's existing resource base."

David Talbot, Dundee Capital Markets (10/24/16)
"We recommend Fission Uranium Corp. with a BUY and a target of C$2.20. . .final PLS assays end the summer drill program with a strong finish; drilling continued to widen R840W zone, demonstrating further growth right until the end. . .we do see potential for uranium to the west...like beads on a necklace, there are already at least 10 zones that occur along trend within the PLS, Arrow and Spitfire deposits. . .R840W Zone lies entirely outside of existing resource areas, and we estimate that it may host upwards of 20MM lbs U3O8."

David Talbot, Dundee Capital Markets (10/12/16)
"We recommend Fission Uranium Corp. with a BUY and C$2.20 target. . .assays for another seven holes were released overnight, highlighting further high-grade intersections at both the far east (R1620E zone) and west (840W Zone) ends of known mineralization. All holes demonstrate strong alteration, mineralization and structure--they host shallow, high-grade U3O8 mineralization, occur beyond existing resource boundaries, and remain open. . .these positive indicators suggest potential to find further uranium along trend; both through expansion of known zones, and via potential discoveries within wide gaps in drilling. . .the R1620E zone returned its highest grades to date."

Two new zones on Fission Uranium's Patterson Lake South property reported high-grade assays, catching the notice of Dundee Capital Markets.
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More Expert Comments

Experts Following This Company

Tyron Breytenbach, Analyst – Cormark Securities
Rob Chang, Senior Analyst and Head of Metals & Mining – Cantor Fitzgerald
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Thibaut Lepouttre, Editor Caesars Report
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Alex Pierce, Analyst – BMO Capital Markets
Paul Renken, Senior Geologist – VSA Capital
David Sadowski, Analyst
David Talbot, Vice President, Senior Analyst – Dundee Capital Markets

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
The most significant near-surface, high-grade deposit in Canada's Athabasca Basin
The world’s most-awarded uranium explorer
Still early days at PLS, with numerous exploration hot spots throughout the large property