Fission Increases Bought Deal Offering to $12,000,300

KELOWNA, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2010) -

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Fission Energy Corp. (TSX VENTURE:FIS) (the "Company") announces that in connection with its previously announced bought deal private placement, the Company and the syndicate led by Dundee Securities Corporation (collectively, the "Underwriters"), have agreed to increase the size of the offering. Under the revised terms, the Underwriters have agreed to purchase, on a bought deal basis, 7,500,000 units (the "Units") of the Company at a price of $0.80 per Unit and 6,667,000 flow-through common shares (the "Flow-Through Common Shares") at a price of $0.90 per Flow-Through Common Share for total gross proceeds of $12,000,300, with the Underwriters having the option to purchase up to an additional 750,000 Units at $0.80 per Unit and 666,700 Flow-Through Common Shares at $0.90 per Flow-Through Common Shares, exercisable in whole or in part at any time up to 48 hours before the closing date.

The aggregate gross proceeds raised from the offering will be $13,200,330 if the over-allotment option is exercised in full. The proceeds of the offering will be used to advance development of the Company's properties, for potential acquisitions and for general working capital.

Closing of the offering is scheduled to occur on or about December 2, 2010. All securities issued will be subject to a four month hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals. The proceeds of the offering will be used to advance development of the Company's properties, for acquisitions and for general working capital.

On Behalf of the Board of Directors,

Devinder Randhawa, Chairman & CEO

For more information please visit the company website at http://www.fission-energy.com.

This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.

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