Fission Energy Corp.

Fission Energy Corp.

April 24, 2009 09:00 ET

Fission Summer Drill Program to Target Ground Near Prominent Roughrider Zone Extension Step-Out Hole

KELOWNA, BRITISH COLUMBIA--(Marketwire - April 24, 2009) - FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE:FIS) and its joint venture partner, the KEPCO Consortium, announce that due to the recent successful results announced by Hathor Exploration on its Roughrider Zone uranium discovery, the Joint Venture is re-evaluating its exploration program at its Waterbury Lake property. This exploration project is located adjacent to the Roughrider Zone uranium discovery in the northeast part of the Athabasca Basin, where several open-pit uranium deposits, including Midwest Lake, McClean Lake, and Rabbit Lake, are located.

On April 15th, Hathor Exploration announced that recent drilling was successful in extending the strike length of the "Roughrider Zone" to the southwest and northeast. Of particular significance to Fission is Hathor's step-out hole MWNE-09-116, which "intersected the highest levels of radioactivity (as determined by down-hole gamma-ray probe data) on the property to date". This drill hole was collared approximately 10m from Fission's property boundary, in the vicinity of the Discovery Bay Zone, with the mineralized interval intersected 50m from the same property boundary. The location of step-out hole MWNE-09-116, within an interpreted major east-west coincident structural and conductive trend, suggests that the "Roughrider Zone" may extend onto Fission's Waterbury Lake ground. Fission encountered nearby mineralization in several drill holes completed in the Discovery Bay Zone, which is characterized by intense hydrothermal alteration in addition to coincident anomalous geochemistry and radioactivity, during an earlier program in 2008, including:

- WAT08-017 (7.5m of 0.04% U3O8 and 1.0m of 0.19% U3O8) located in Fission's Discovery Bay Zone 67m to the north-west of Hathor's drill hole MWNE-09-116

- WAT08-022C (6.5m of 0.05% U3O8 and 3.5m of 0.03% U3O8) located in Fission's Discovery Bay Zone 89m to the west of Hathor's drill hole MWNE-09-116

Based on both Fission and Hathor's drill results a summer program is warranted. Further details are forthcoming, and will be provided when available.

Fission is the operator of the Waterbury Lake Project.

The Waterbury Consortium has budgeted C$4.0 million for exploration in 2009.

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".

Korea Electric Power Corporation (KEPCO) is a Korean government-invested diversified energy company with over $83-billion (U.S.) in assets. The company is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. Korea Electric Power provides electricity to almost all households in Korea and operates 20 nuclear power plants in the country with six more under development. The company has over 30,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. (

Korea Waterbury Uranium Limited Partnership ("KEPCO Consortium") is a consortium primarily comprised of Korean-based companies. Led by Korea Electric Power, other participating companies include Korea Hydro & Nuclear Power, Korea Nuclear Fuel Co., Hanwha Corp. and Gravis Capital Corp., a private Canadian uranium investment company.

We seek Safe Harbor.

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.


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.

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