KELOWNA, BRITISH COLUMBIA--(Marketwired - June 17, 2013) - FISSION URANIUM CORP. (TSX VENTURE:FCU) (FRANKFURT:2FU) (the "Company" or "Fission), is pleased to report an update on its exploration program plan for the highly prospective North Shore project, located in the northwest area of the Athabasca Basin in Alberta. The decision to advance exploration plans is a result of the completion of the Alberta Government's Lower Athabasca Regional Plan (LARP). The North Shore project now consists of 17 Metallic and Industrial Mineral Permits ("MAIM") totaling approximately 55,160 ha. Since December 2010, Fission has been granted a work assessment deferral, pending the results of the LARP Conservation Areas decision. Exploration plans are being advanced for the summer 2013 period, to include a high resolution airborne radiometric survey and followed up by ground prospecting, geophysics, and radon surveys in high priority areas.
Property Highlights include:
- Identification of several anomalous uranium showings in boulders and outcrop, including sandstone boulders grading up to 1.39% U3O8
- Located on the NW edge of the Athabasca Basin, with targets expected to be at shallow depth
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"The completion of the LARP will allow us to advance our exploration at the North Shore project. The North Shore fits with Fission's strategy of exploring high priority shallow exploration targets within and around the world premiere Athabasca Basin uranium district. While our primary focus remains expanding the PLS discovery, there are still many underexplored areas of the Athabasca Basin and we consider this property to be an important land package in our growing portfolio."
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the company by Ross McElroy, P.Geol. President and COO for Fission Uranium Corp., a qualified person.
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. Fission Uranium Corp's Common Shares are listed on the TSX Venture Exchange under the symbol "FCU".
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ross McElroy, President & COO
Fission Uranium Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
ir@fissionuranium.com
www.fissionuranium.com