FIS Fission Energy Corp.

FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE:FIS) and its
joint venture partner, the KEPCO Consortium, are pleased to report that the
previously announced seven hole drill program at its Waterbury Lake uranium
exploration project is now underway. Three drill holes will target locations in
close proximity to Hathor Exploration's Roughrider Zone uranium discovery
step-out holes MWNE-09-116 and MWNE-09-129. The purpose is to test for the
possible high grade extension of the Roughrider Zone onto the Company's
Waterbury Lake property. As summarized in the Company's press release dated June
30, 2009, hole MWNE-09-116 intersected 70.34% U3O8 over 2.5m within 13m grading
18.12% U3O8, and identified intersections as high as 84% U3O8. Hole MWNE-09-129,
collared approximately 20m to the SW of hole MWNE-09-116 intersected 5.0m
grading 15.65% U3O8. Both drill holes were collared approximately 10m from
Fission's property boundary, in the vicinity of the Discovery Bay Zone; with the
mineralized interval intersected 45-50m from the Waterbury Lake property
boundary.


Last winter's geophysical surveys identified a number of new high priority drill
targets, which further demonstrates the excellent potential exhibited by the
40,256 ha Waterbury Lake Property for hosting an undiscovered uranium deposit.
The summer drill program will also include two drill holes which will test a
resistivity low anomaly, located in a previously unexplored area, approximately
8km to the southwest of the Denison-AREVA Midwest deposit. The final two holes
will test a resistivity low anomaly located approximately 3 km north of
Discovery Bay. These resistivity low anomalies may represent the signatures of
structurally controlled hydrothermal alteration. Identifying such systems are a
key to searching for uranium deposits. 


A property wide high resolution airborne magnetic survey, which began earlier
this month, is 70% complete. Results from this survey will enable Fission's
technical team to prioritize areas of interest over the entire project area. 


While exploration at Fission's Waterbury Lake project remains focused on the
ground adjacent to Hathor's Roughrider Zone uranium discovery, the Company is
making considerable progress in identifying multiple new priority targets from
ongoing geophysical programs on this large, strategically located property. The
Waterbury Lake Property is located in the northeast part of the Athabasca Basin,
where several open-pit uranium deposits, including Midwest Lake, McClean Lake,
and Rabbit Lake, are found. Fission is the operator of the Waterbury Lake
Project.


The Waterbury Consortium has budgeted C$4.0 million for exploration in 2009.

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 Energy Corp., a qualified person.


FISSION ENERGY 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 ENERGY CORP. Common Shares
are listed on the TSX Venture Exchange under the symbol "FIS".


Korea Electric Power Corporation (KEPCO) is a Korean government-invested
diversified energy company with over $83-billion (U.S.) in assets. The company
is involved in the generation, transmission and distribution of electrical power
from nuclear, hydro, coal, oil and LNG sources worldwide. Korea Electric Power
provides electricity to almost all households in Korea and operates 20 nuclear
power plants in the country with six more under development. The company has
over 30,000 employees and is listed on the Korean Stock Exchange and the New
York Stock Exchange. (www.kepco.co.kr)


Korea Waterbury Uranium Limited Partnership ("KEPCO Consortium") is a consortium
primarily comprised of Korean-based companies. Led by Korea Electric Power,
other participating companies include Korea Hydro & Nuclear Power, Korea Nuclear
Fuel Co., Hanwha Corp. and Gravis Capital Corp., a private Canadian uranium
investment company. 


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

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