Fission Discovery Hole Assays at-10.5m of 1.91% U3O8 Including 1.0m grading 13.87% U3O8

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)
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Zone       Hole ID     From (m)   To (m)   Interval (m)    U3O8 (wt%)
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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
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Composite Parameters
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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

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Contacts: Fission Energy Corp. Bob Hemmerling Investor Relations TF: 877-868-8140 This email address is being protected from spambots. You need JavaScript enabled to view it. www.fission-energy.com

SOURCE: Fission Energy Corp.

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