New Acreage in the Athabasca

Fission Adds Three New Properties

Yesterday, Fission Uranium announced the acquisition, via staking, of three new properties in Saskatchewan. Beaver River and Thompson Lake are in the Beaverlodge District of the north-west Athabasca Basin; while Manitou Falls marks the return of Fission to the eastern Athabasca.

Outcropping High Grade at Two Out of Three

The 15,373ha property at Beaver River contains most of the electromagnetic geophysical conductors (which may indicate the presence of graphite, which is a known localiser/reductant of uranium in the basin) in the area, as well as several outcrops of multi-percent grade uranium.

The Thompson Lake property, of 1,188ha, lies 15km west of Uranium City and has numerous outcropping uranium showings of up to 2.23% uranium. It lies on strike with a known deposit of 0.3Mt of 0.09% U3O8.

Manitou Falls is a claim group in the north-east portion of the Athabasca Basin, with known radiometric anomalies and geophysical conductors upon the 2,941ha property. The claim lies north of most of the historic mines and deposits.

New Board Appointments Strengthen the Team

Fission has also enhanced the skillset of the Board and advisory team, with the addition of William March (formerly of Chevron) and Anthony Milewski (who has experience in uranium trading and marketing), both of whom were appointed late last week.

Refilling the Exploration Portfolio

These acquisitions, for the nominal sum of location and filing costs, allow Fission to do what it does best: find new uranium deposits in locations which have some indications of uranium enrichment but where the source or actual deposit has never been found and drilled. The current team has previously found two high-grade deposits in the Athabasca, and we think they may do it yet again on one or more of these properties.