Environmental Authorization Reinstated for First Uranium's MWS Future Tailings Storage Facility

First Uranium Corporation (TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Company") has been notified by the North West Provincial Government's Department of Agriculture, Conservation, Environment and Rural Development that they have issued a positive decision on the amendment application lodged by MWS last year pertaining to the Environmental Authorization ("EA") for a future Tailings Storage Facility ("TSF") for its Mine Waste Solutions tailings reclamation project ("MWS") near the town of Stilfontein, North West Province, South Africa. The application was lodged by MWS on 2 October 2009 to clarify any possible discrepancies which may have arisen regarding the project and property descriptions in the environmental authorization.

Fission Extends J-Zone as Latest Drilling Intersects 16m & 5.65m of Highly Radioactive Mineralization at Unconformity Including 2.16m and 4.26m Off-Scale Radioactivity

FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE: FIS) announces that its latest three drill holes, WAT10-071, 072C, and 073 have all intersected highly radioactive mineralization at the unconformity, including "off-scale" (cps greater than 9,999) radioactivity. Drill hole WAT10-073, intersected a 16m wide interval of highly radioactive mineralization, including several intercepts totalling 2.16m of "off-scale" hand scintillometer readings (198.0m - 214.0m). This hole is located 15m to the west of hole WAT10-070B (13.5m interval from 196.5m - 210.0m of highly radioactive mineralization at the unconformity, including several intercepts totalling 7.5m of "off scale" radioactivity; see news release dated February 16, 2010; assays forthcoming).

Fission Intersects 12m of 3.64% U308 Including Mineralization as High as 45.2% U308

FISSION ENERGY CORP. (TSX VENTURE: FIS) ("Fission" or the "Company") and its joint venture partner, the KEPCO Consortium, announces that drill hole WAT10-066, located immediately south of the high-grade mineralization encountered in the WAT10-063A, intersected a 12.0m interval at the unconformity (202.0m-214.0m) grading 3.64% U308, including 1.50m at 27.38% U308. The maximum grade identified within the 1.50m intercept was 0.50m of 45.2% U308. Table 1, shown below, highlights the latest assay results. In addition, further assays for gold and platinum group metals content are forthcoming. These latest results reinforce Fission's belief that the J-Zone represents a significant new discovery of unconformity mineralization at the Company's Waterbury Lake Project in the Athabasca Basin.

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).