Fission Energy Corp.
TSX VENTURE : FIS

Fission Energy Corp.

October 30, 2007 12:03 ET

Fission Energy Announces Pricing of Private Placement Financing

KELOWNA, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Fission Energy Corp. ("Fission", or the "Company") (TSX VENTURE:FIS) is pleased to announce that it has agreed to pricing for its previously announced private placement of common shares and flow-through shares (the "Offering"). Cormark Securities is lead agent, on behalf of a syndicate of Agents which includes Raymond James Ltd. (the "Agents").

Fission's offering will consist of 5,725,000 shares at a price of $0.70 per share, and 7,325,000 flow-through shares at a price of $0.82 per share, for aggregate gross proceeds of $10,014,000. The flow-through shares will qualify as flow-through shares for the purposes of the Income Tax Act (Canada).

Fission has also granted the Agents an option to increase the offering by up to an additional 1,090,000 flow-through shares and an additional 847,000 common shares at the price for which the shares are sold in the Offering, at any time up to 48 hours prior to closing.

Closing of the offering is anticipated to occur on or before November 15, 2007 and is subject to completion of documentation and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

The Company plans to use the proceeds from the sale of the flow-through shares on expenditures which will constitute Canadian Exploration Expenses (as defined in the Income Tax Act (Canada)) and the net proceeds from the sale of the common shares to advance development of the Company's properties and for general working capital.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The Flow-Through Shares and Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

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

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