KELOWNA, BRITISH COLUMBIA--(Marketwired - June 3, 2013) - FISSION URANIUM CORP. ("Fission" or "the Company") (TSX VENTURE:FCU)(FRANKFURT:2FU) is pleased to announce the addition of three new properties, staked by Fission's technical team, in the northwest and northeast Athabasca Basin regions, Canada. The newly acquired properties are referred to as Beaver River, Thompson Lake and Manitou Falls respectively. The new acquisitions are part of Fission's objective to stake ground where Uranium mineralization is highly prospective and shallow, as is the case with its recent high grade discoveries at PLS and Patterson Lake (PLN) properties.
Beaver River and Thompson Lakes properties are located in the Beaverlodge district. Between 1953 and 1982 this area produced 25,142 tons of Uranium from 16 operating mines (Saskatchewan Industry and Resources Misc Report 2003-7). The Manitou Falls property is located within the eastern Athabasca Basin, where it overlies the Mudjatic domain basement rocks.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"While our primary focus remains expanding the PLS discovery, there are still many underexplored areas of the Athabasca Basin and we consider these new properties to be highly prospective additions to our growing portfolio."
Highlights
Beaver River: Six claims totalling 15,373 ha located on the north-central edge of the Basin. The property includes most of the known electro-magnetic (EM) conductors in the area and a number of uranium showings including surface outcrop sample assays of 3.66%, 3.37%, and 2.93% U3O8. The Company considers this property to be highly prospective and aims to begin ground exploration work this summer in order to identify drill targets for a winter drill program.
Thompson Lake: Single claim of 1,188 ha is located approximately 15km west of Uranium City and is situated geologically approximately 10km north of the north-central area of the Athabasca Basin, approximately 5km west of the historic Lorado mine, where 89 tons of uranium were produced. The historic Gulch uranium deposit, reported at 310,000 tons of possible reserves at 0.09% U3O8 (SK ECON, Saskatchewan Mining Deposit Database) lies 2.5km to the south-west on strike of the property 15km from Uranium City. Previous exploration has identified numerous uranium showings including outcrop grab sample assays at this property include 2.23% and 0.11% U3O8.
Manitou Falls: Single claim of 2,941 ha located on the northeastern side of the Athabasca Basin. The eastern side of the Athabasca Basin is significant as it is home to all of Canada's current production of uranium. The property benefits from a large amount of historical data from surveys and ground prospecting work that has identified six radiometric anomalies and multiple conductors.
Updated maps can be found on the Company's website at http://www.fissionuranium.com.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol "FCU".
ON BEHALF OF THE BOARD
Ross McElroy, President & COO
Cautionary Statement: Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward-looking statements contained in this press release may include statements regarding potential spin-out and listing of Fission Uranium and the future operating or financial performance of Fission and Fission Uranium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Fission Uranium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Fission Uranium Corp.
Rich Matthews
Investor Relations
877-868-8140
ir@fissionurnaium.com
www.fissionuranium.com