=======================================================================
Fission and Great Bear Agree to Extension of Duddridge Lake
Option Terms
=======================================================================
FISSION ENERGY CORP. ("Fission" or the "Company") is pleased to
provide the following update:
Duddridge Lake Option Agreement
The Company has an Option Agreement with Great Bear Resources Ltd.
("Great Bear") to acquire a 60% interest in the Duddridge Lake Uranium
Property, which is located in north-central Saskatchewan. The property
consists of 11 mineral claims totalling 36,253 ha (about 90,000 acres),
located about 80 km northwest of the town of La Ronge, Saskatchewan.
Great Bear must complete $6,000,000 in exploration expenditures, make
payments totalling $400,000 and issue 400,000 shares to Fission. To
date, Great Bear has made the $400,000 cash and share commitments and
in addition, the first year's minimum exploration commitment of
$750,000 has been met. Fission and Great Bear have agreed to extend
all the remaining exploration commitments by one year as follows:
-----------------------------------------------------------------
Minimum Exploration On or Before
Commitments (Original Agreement) As Amended
-----------------------------------------------------------------
$750,000 March 31, 2008 Completed
-----------------------------------------------------------------
$1,000,000 March 31, 2009 March 31, 2010
-----------------------------------------------------------------
$1,000,000 March 31, 2010 March 31, 2011
-----------------------------------------------------------------
$1,250,000 March 31, 2011 March 31, 2012
-----------------------------------------------------------------
$2,000,000 December 31, 2013 December 31, 2014
-----------------------------------------------------------------
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".
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.
ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy, President & COO
Investors Relations
Craig Christy/Bob Hemmerling
TF: 877.868.8140
info@fission-energy.com
www.fission-energy.com
=======================================================================
Copyright (c) 2009 FISSION ENERGY CORP. (FIS) All rights reserved.
For more information visit our website at
http://www.fission-energy.com/ or send mailto:info@fission-energy.com
=======================================================================
.
<
|
Fission Energy Corporation
|
|
EXPLORATION STAGE |
CODE : FIS.V |
|
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Fission Energy is a nickel and uranium exploration company based in Canada. Fission Energy holds various exploration projects in Canada. Its main exploration properties are NORTH SHORE, FORT MCLEOD, MINOR BAY, ZOO BAY, DAVY LAKE, WATERBURY LAKE, PATTERSON LAKE, DIETER LAKE, DUDDRIDGE LAKE, CARIBOU MOUNTAINS and SOUTH SHORE in Canada, THE MACUSANI PROPERTY in Peru and TORWALT LAKE in Australia. Fission Energy is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 118.3 millions as of today (US$ 115.3 millions, € 88.0 millions). Its stock quote reached its highest recent level on May 23, 2008 at CA$ 1.64, and its lowest recent point on October 17, 2008 at CA$ 0.09. Fission Energy has 124 534 000 shares outstanding. |