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:

David Talbot, Dundee Capital Markets (5/17/16)
"Fission Uranium Corp.’s 13,000m winter program discovered the R840W Zone via regional drilling; delineated R600W, and expanded R780E and R1620E. . .five mineralized zones now extend for over 2.58 km of strike extent (up 250m). . .R1620E impresses with 2.6% over 40m incl. 11% over 5m and 7.6% over 3m. We expect resource growth from 106 MM lbs U3O8 to ~140 to 150 MM lbs upon completion of a new estimate. . .we expect a positive PLS PEA update."

Alexander Pearce, BMO Capital Markets (5/16/16)
"Fission Uranium Corp.'s management have a proven track record of resource delivery and a high grade of 1.76% U3O8 totaling 108Mlb (72% indicated, 28% inferred). . .the deposit remains open and has further prospective trends showing mineralisation suggesting upside scalability. . .the recent PEA increases confidence in delivery of an economic project, expected to have low total cost of production in early years of US$25/lb. . .Fission could be attractive for M&A by an established player, or a company looking for a foothold in the basin. . .it has relatively more attractive trading multiples than exploration peers"

David Sadowski, Raymond James (4/18/16)
"Chemical assay results were released from 10 Fission Uranium Corp. holes—2 at the new, on-land R840W zone; 1 at on-land R600W; 2 at R780E; and five on the easternmost R1620E. Results confirmed previously released scintillometer data and included three high-grade holes—8.5m of 2.54% at R840W and 40.0m of 2.64% at R1620E, both of which are outside the current 108 Mlb resource area."

Haywood Securities (4/1/16)
"Fission Uranium Corp. released drill assay results from its PLS property, host to the Triple R deposit, in Canada's Athabasca Basin. . .the latest results are from holes drilled at the R840W and R600W zones. . .also included are infill drill holes from the R780W zone, located within the current Triple R resource. . .the latest results continue to define uranium mineralization beyond the extents of the Triple R resource. . .both the R600W and R840W zones. . .are shallow, land-based targets that could add significantly in terms of tonnage and positive economics to the current resource at Triple R."

David Talbot, Dundee Capital Markets (3/31/16)
"Fission Uranium Corp. released assays for nine holes. . .initial winter assays demonstrate a good start overall, returning grades and thickness largely in-line with the current Triple R resource; we expect that these assays will help add pounds in the updated resource/PEA due later this year. Given that Triple R has seen extensive drilling since January 2015, we wouldn't be surprised if the initial 105.5 Mlb U3O8 resource were to increase by 30–40% in the updated estimate; while size matters somewhat, the real goal is to provide resources that are easier and cheaper to access, sooner in mine life."

David Talbot, Dundee Capital Markets (3/28/16)
"FCU's regional drilling lays groundwork for future upside potential. . .all three new highlights had minor radioactivity and plenty of graphitic structure required for this style of basement hosted U3O8 deposit. Follow up could lead to discoveries down the road, much as similar results led in the Triple R and Arrow deposits. . .Fission's upside potential remains considerable, but we must wait until a summer program before we might see further progression. . .Triple R has seen extensive drilling since announced in January 2015 and could be 30-40% larger than the initial 105.5 Mlb U3O8, largely Indicated resource, suggests."

More Expert Comments

Experts Following This Company

Matt Badiali, Editor – Stansberry Research
Mick Carew, Analyst – Haywood Securities
Rob Chang, Senior Analyst and Head of Metals & Mining – Cantor Fitzgerald
Eric Coffin, Owner – HRA Advisory
Brent Cook, Analyst, Geologist Exploration Insights
Jeb Handwerger, Author Gold Stock Trades
Wayne Hewgill, Analyst – Mackie Research Capital
Nick Hodge, Founder and president of the Outsider Club – Outsider Club
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Marin Katusa, Analyst – Katusa Research
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Gwen Preston, Founder Resource Maven
Nik Rasskazovskiy
Paul Renken, Senior Geologist – VSA Capital
Rick Rule, Chairman – Sprott Global Resource Investments Ltd.
David Sadowski, Analyst – Raymond James
Ron Stewart, Analyst – Dundee Capital Markets
David Talbot, Vice President, Senior Analyst – Dundee Capital Markets

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