FIS Fission Energy Corp.

FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE:FIS) is pleased
to report that it has encountered significant radioactivity during its winter
Waterbury Lake project drill program. The mineralization occurs within
drill-hole WAT10-063A, which is the 2nd hole of a planned 20 hole program.


Hole WAT10-063A was collared at 188 degree azimuth and -75.5 dip to a total
depth of 344.0 meters. It is strongly clay altered and locally strongly
fractured in the lower 70m above the unconformity. Immediately below the
unconformity, the basement rocks are intensely clay and hematite altered. An
interval of moderate to strong clay alteration can be traced in the basement to
266.2m. The first interval of elevated radioactivity measured from drill core is
at 206.5m (300 to 4200 cps) and anomalous radioactivity continues throughout the
drill core until 235.5m. Natural gamma radiation in drill core that is reported
in this news release was measured in counts per second (cps) using a hand held
Exploranium GR-110G total count gamma-ray scintillometer. The reader is
cautioned that scintillometer readings are not directly or uniformly related to
uranium grades of the rock sample measured, and should be used only as a
preliminary indication of the presence of radioactive materials. The degree of
radioactivity within this interval is highly variable. Core recovery is
generally 100%, but narrow intervals of core loss within the altered zone
occurs, notably 215.0 to 218.0 (87% recovery) and 221 to 224.0m (72% recovery).
The 29.0m wide zone of alteration and elevated radioactivity can be described as
greater than 300 cps, with discrete intervals of high radioactivity (greater
than 2,500 cps). All intersections are down-hole, core interval measurements and
true thickness is yet to be determined. These high radioactive zones include
maximum readings of:




--  214.00 to 214.50m: 4,200 cps 
--  226.00 to 226.50m: 3,100 cps 
--  226.96 to 227.25m: greater than 9999 cps 
--  228.00 to 228.50m: 3,400 cps 
--  229.50 to 230.10m: 3,100 cps 
--  230.10 to 230.45m: greater than 9999 cps 
--  232.50 to 233.00m: 2,700 cps 
--  233.00 to 233.50m: 9,000 cps 
--  233.50 to 234.00m: 5,200 cps 
--  234.50 to 235.00m: 2,500 cps 
--  235.00 to 235.50m: 3,900 cps 



WAT10-063A is the second hole of a series of drill-holes planned for the
Discovery Bay area, adjacent and to the west of Hathor Exploration's Roughrider
high-grade uranium zone, within the previously described East-West trending
Corridor. The mineralization within hole WAT10-063A lies approximately 140m due
west of Hathor's westernmost high-grade intersection within Hole MWNE-129 which
is reported to have intersected 5.0m grading 15.65% U3O8. It is believed that
the mineralization in WAT10-063A is part of the same mineralized system reported
in holes WAT09-055 (56m to the east of WAT10-063A) and WAT09-056 (47m to the
south-east of WAT10-063A) (News Release September 21, 2009). Hole WAT10-063A is
the western-most hole drilled within the mineralized Discovery Bay system, and
the zone remains open at depth and along strike. This geophysics defined
corridor remains prospective for approximately 2.5 to 3 km to the west of
Discovery Bay.


Basement rocks within the altered and mineralized zone from 206.50 to 235.50m
include meta-pelites (locally graphitic), quartz-feldspar gneiss and
quartz-feldspar granofels.


Due to the highly-radioactive nature of some of these intervals, the signal from
a single crystal gamma-ray downhole radiometric probe is saturated throughout
parts of the zone. A gamma probe of the type typically used in high grade
mineralized zones, such as a 2GHA-1000 Triple Gamma Tool will be mobilized to
site. This probe will be used if high grade mineralization is encountered in
subsequent drill holes.


Drill core samples from the mineralized section of core will be submitted to SRC
Geoanalytical Laboratories (an SCC ISO/IEC 17025:2005 Accredited Facility) of
Saskatoon for analysis, which includes a 63 element ICP-OES, uranium by
fluorimetry (partial digestion) and boron. Chemical results will be released
when received. All holes will be radiometrically surveyed with a Mount Sopris
2PGA-1000 Gamma/SP probe. Further updates will be provided.


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".


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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