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:

"Fission Uranium Corp. blew the doors off with its 105 Mlb maiden resource for the Triple R (formerly Patterson Lake South) project. The deposit has a huge high-grade core. Fission has yet to define the limits of that deposit and it's launching another 20,000m winter drill program. I really like Fission. . .this is an opportunity for a major that isn't involved in uranium to instantly become one of the big players. The project is that large and it's going to grow. Fission keeps diluting the stock by drilling off the deposit, but you can't really blame the company when it can discover so many high-grade pounds for each dollar of drilling. At some point this deposit is going to be worth considerably more than the company's current market cap. Investors with the patience to wait out the game should be richly rewarded." read more >

Rob Chang, Cantor Fitzgerald (1/26/15)
"Fission Uranium Corp. has had a solid start to its 2015 winter drilling program with five holes all hitting off-scale mineralization and some leading to expansions to the mineralized envelope. . .a total of 63 holes are planned for, covering 20,230m spread between up to four diamond drill core rigs."

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."

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