Fission Uranium Corp.

Fission Uranium Corp. is a Canada-based uranium exploration company with a major discovery in the Athabasca Basin, home to the world's richest uranium deposits. Headed up by CEO Dev Randhawa, the company's team has made two major uranium discoveries in three years. COO, President and Head Geologist Ross McElroy has been instrumental in five of the last nine major discoveries in the basin. In April 2013, Fission Uranium Corp. was spun out of Fission Energy Corp. as part of a transaction with Denison Mines. Current assets include $17M cash and Patterson Lake South, the Athabasca Basin's new premium uranium discovery.

Expert Comments:

David Talbot, Dundee Capital Markets (1/26/15)
"We recommend Fission Uranium Corp. as our top pick with a Buy rating. . .drill results from the first five holes of the winter program at Triple R Deposit, Patterson Lake South Project were reported overnight. All five stepout holes hit shallow mineralization in three different areas, notably: 1) Widen the R780E Main zone 25m to the north; 2) Widen 10m to the south; and 3) Extend 45m vertically. This is a good start but we can't say completely unexpected. R780E is the largest of the Triple R deposit zones, representing 88 Mlb, including the high grade, and is expected to increase in size."

Haywood Securities (1/26/15)
"At just over 105 Mlb U3O8, the global resource at Fission Uranium Corp.'s Triple R arguably represents the most significant uranium discovery in the last 15+ years. Furthermore, the high-grade nature of the core of the deposit implies flexibility to consider an underground operation (the resource estimate of Triple R was open-pit constrained)."

"Fission Uranium Corp.'s Patterson Lake South (PLS) project in Saskatchewan's Athabasca Basin. It's the best unmined deposit of uranium in the world. The company announced its initial NI 43-101 resource on Jan. 9: 79.6 Mlbs Indicated and 25.9 Mlbs Inferred. Nobody expected the maiden to come in this high; the expected range was 50–80 Mlb. And that's only for two of the four mineralized zones Fission has found so far.

At 100 Mlb, taking the recent uranium acquisition price of projects in the area at $10/lb, PLS is a $1B deposit. Fission's market cap is only $359M. I anticipate the company increasing its resource to 150-200 Mlb once the other zones are included. . ." read more >

Heiko Ihle, H.C. Wainwright & Co. (1/13/15)
"On Jan. 9, 2015, Fission Uranium Corp. announced a maiden resource estimate for its wholly owned Patterson Lake South (PLS) uranium deposit. . .the initial estimate at Triple R includes 79.6 Mlb U308 grading 1.58% in the Indicated category in addition to 25.8 Mlb U308 grading 1.3% in the Inferred category. . .notably, PLS now ranks as the largest undeveloped uranium resource in the renowned Athabasca basin region."

Mick Carew, Haywood Securities (1/13/15)
"Fission Uranium Corp. delivered the maiden resource estimate at Patterson Lake South, and it exceeded Street expectations. . .the resource estimate comprises two zones, R00E and the much larger R780E, which returned (at a 0.1% U3O8 cutoff, $50/lb U3O8 uranium price): Indicated 79.61 Mlb U3O8 (2.29 Mmt grading 1.58% U3O8), Inferred 25.88 Mlb U3O8 (901 Kmt grading 1.30% U3O8). Plus a gold component of ~54 Koz (average grade of 0.524 g/t) (Indicated + Inferred). This includes several very high-grade lenses that occur along the strike length of the deposit in the R780E zone."

"We own Fission Uranium Corp. Fission has the best new discovery we've seen in the Athabasca Basin in quite a long time—it's near surface, it's mostly open pittable and it's good grade." read more >

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