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TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
Fission Uranium Corp. (" Fission " or " the Company ") is pleased to announce that, as part of its progress towards the Feasibility and Environmental Assessment phases for the PLS project in Saskatchewan, Canada the Company is continuing to build mutually respectful, transparent and productive relationships with all local rights-holders and stakeholders. This includes the recently-signed Engagement and Capacity agreement with the Clearwater River Dene Nation ("CRDN") (see news release dated March 25, 2021 ). The agreement strengthens the positive working relationship and establishes a foundation for Fission and CRDN to negotiate a long-term impact benefit agreement if the PLS Project is approved.
The processes covered by the agreement include:
- Prepare, facilitate and coordinate Project information sharing meetings between CRDN and Fission;
- Facilitate and conduct community information meeting on status of the Project;
- Draft, contribute to, review, and provide comments on draft documents leading to Environmental Impact Statement;
- CRDN Comments on draft project description and final project description;
- Joint review and concurrence on target information to be addressed via Engagement Activities; and
- Joint work and collaboration on scope of Engagement Activities and supporting budget.
To achieve the outcomes of these processes in a meaningful and collaborative way, Fission and CRDN have established open lines of communication, and connect regularly by phone, email, and/or meeting. This active, open approach has been paired with a shared communications and commitment tracking log, requested by CRDN, to create a consistent, transparent, and accountable way to raise and address questions, information requests, and concerns, in a timely and efficient manner.
As part of the Agreement, Fission is funding ongoing engagement work by CRDN, including an Indigenous rights & knowledge study and a traditional land & cultural impact assessment study. These studies will inform CRDN and Fission, and will be incorporated into the ongoing assessment of Fission's Patterson Lake South Project.
Chief Clark commented, "CRDN is not against economic development in our traditional territory and appreciate the steps Fission Uranium is taking on their approach on dealing with the concerns of the Nation. The Clearwater Dene Nation knows the obligation for consultation, accommodation and reconciliation belongs to the governments. We will never have another 'Cluff Lake" in our lands. We welcome companies that want to learn about our Nation and our constitutionally protected rights to the lands like Fission."
Patterson Lake South Property
The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes the nearby Nexgen Arrow deposit located 3km to the east and UEX-Areva Shea Creek discoveries located 50km to the north.
This news release has been prepared in accordance with the Fission and Clearwater River Dene Nation engagement process.
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 CEO for Fission Uranium Corp., a qualified person.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna , British Columbia. Fission's common shares are listed on the TSX Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF."
ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy , President and CEO
Cautionary Statement:
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: risks related to the Offering, risks related to Fission's limited business history, risks related to the nature of mineral exploration and development, discrepancies between actual and estimated mineral resources, risks related to uranium market price volatility, risks related to the market value of the common shares of Fission, risks related to market conditions, risks related to the novel coronavirus (COVID-19) pandemic, including disruptions to the Company's business and operational plans, risks related to the global economic uncertainty as a result of the novel coronavirus (COVID-19) pandemic and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com . The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE Fission Uranium Corp.
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Figure 1: The Liverpool Uranium Project
Figure 1: Strip log displaying drillhole OV047 lithology, natural gamma responses (cps) and pXRF uranium responses (ppm U). In relation to the disclosure of pXRF results, the Company cautions that estimates of uranium elemental abundance from pXRF results should not be considered a proxy for quantitative analysis of a laboratory assay result. Assay results are required to determine the actual widths and grade of the mineralisation. The company uses an Olympus Vanta M Series portable X-ray Fluorescence (pXRF) analyzer to screen Air Core drilling samples for mineralization prior to submitting samples to a commercial laboratory for assay. This provides an initial understanding of the mineralization distribution before sampling, ensuring submitted samples are representative of the targeted mineralization. While pXRF confirms the presence of mineralization, it does not accurately determine elemental concentrations due to limitations such as a small analysis window, uneven distribution, shallow penetration depth, and irregular surfaces. The pXRF results are indicative and the pXRF readings are subject to confirmation by chemical analysis from an independent laboratory.
