2015-04-01 08:27 ET - News Release

Mr. Ross McElroy reports

FISSION URANIUM ANNOUNCES $15 MILLION BOUGHT DEAL

Fission Uranium Corp. has entered into a letter of engagement with Dundee Securities Ltd. on behalf of a syndicate of underwriters including BMO Capital Markets, Macquarie Capital Markets Canada Ltd., Raymond James Ltd. and TD Securities Inc. under which the underwriters have agreed to purchase 10 million flow-through common shares of the company, on a bought-deal basis, subject to all required regulatory approvals, at a price per flow-through share of $1.50, for total gross proceeds of $15-million.

The Underwriters have been granted the option to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 30 days from to the closing of the Offering.

The Company intends to use the gross proceeds of the Offering for "Canadian exploration expenses" that are "flow through mining expenditures" (within the meaning of the Income Tax Act (Canada)) related to the Company's Canadian uranium mining exploration projects. The Company will agree to renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2015.

The Flow-Through Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec, pursuant to National Instrument 44-101 - Short Form Prospectus Distributions.

The closing date of the Offering is scheduled to be on or about April 29, 2015 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

We seek Safe Harbor.