FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE:FIS) is pleased
to report that it has received uranium assay results from the previously
announced discovery hole WAT10-063A on its Waterbury Lake project. This drill
hole intersected 10.5m grading 1.91% U3O8 from 226.0m to 236.5m downhole.
Included in this interval is a high grade intersection of 1.0m grading 13.87%
U3O8 from 230.0m to 231.0m. WAT10-063A is the 2nd hole of the winter 2010 drill
program and is the first hole to intersect the newly identified J-Zone.


Hole WAT10-063A intersected two zones where the intersections met the minimum
cut-off grade of 0.05% U3O8. Both zones contained anomalous mineralization
within a 29.0m wide zone of alteration and elevated radioactivity from 206.5m to
235.5m directly below the unconformity (206.5m). Core recovery was generally
100%, but narrow intervals of core loss within the altered zone occurred,
notably 215.0m to 218.0m (87% recovery) and 221 to 224.0m (72% recovery). All
intersections are down-hole, core interval measurements and true thickness is
yet to be determined. A summary of the composited assay results for both zones
is as follows:




Composited Mineralized Intervals (Down-hole measurements)
---------------------------------------------------------------------
Zone       Hole ID     From (m)   To (m)   Interval (m)    U3O8 (wt%)
---------------------------------------------------------------------
---------------------------------------------------------------------
J-Zone  WAT10-063A      211.50   215.50           4.00          0.16
                        226.00   236.50          10.50          1.91
                        230.00   231.00           1.00         13.87
---------------------------------------------------------------------

Composite Parameters
--------------------
1. Minimum Thickness: 3.00m
2. Grade Cut-Off:  0.05 U3O8 (wt%)
3. Maximum Internal Dilution:  1.50m

 

Split core samples for geochemical analysis were taken continuously from 206.5m
to 240.0m at 0.5m intervals. Samples were analyzed for U3O8 (wt%) at SRC
Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of
Saskatoon. Laboratory method of quality control included the insertion of CANMET
certified reference material applicable for the range of mineralization
encountered every 20th sample. Repeat assays were carried out on 6 samples, with
acceptable reproducibility (less than +/- 2% relative variation for samples with
greater than 0.01 wt% U3O8). All samples sent for analysis include 63 element
ICP-OES, uranium by fluorimetry (partial digestion) and boron. Samples within
the mineralized interval are also being analyzed for gold, platinum and
palladium.


Drilling at the J-Zone is continuing and results will be provided when available.

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
Fission Energy Corp. (TSXV:FIS)
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