Fission's most valuable exploration asset is the Waterbury Lake KEPCO Consortium Joint Venture., which is located in close proximity to Hathor's Midwest NE discovery ("Roughrider Zone") The Waterbury Lake Property is located in close proximity to Hathor's Midwest NE discovery ("Roughrider Zone") and the AREVA/Denison Midwest deposits. This project has the highest priority for 2010. Fission's 2010 winter exploration program includes 93 line km of ground IP and EM geophysical surveys, and a 20 hole 7,500m drill program that began on January 18th. A total of C$4.0 million has been budgeted for exploration in 2009, which is fully funded by the KEPCO consortium as part of their earn-in agreement. (See Projects: Waterbury Lake for additional information).

Fission Energy's primary focus is Saskatchewan's Athabasca Basin, home of the richest uranium mines in the world. The majority of the Company's exploration properties here were acquired by staking in 2003-2004. Additional properties are held in Quebec, Alberta, and Peru.

Exploration at the Waterbury Lake KEPCO Consortium Joint Venture project, located in the eastern part of the Athabasca Basin, is the Company's primary focus, and it has the highest priority for 2009. All other 100% owned properties are available for joint ventures.

Canada

Alberta

Caribou Mountains Fort MacLeod North Shore
On December 3, 2007 the Company acquired the Caribou Mountains properties which comprises 6 Metallic and Industrial Mineral Permits totaling 27,872 ha in Northern Alberta.

Saskatchewan

Waterbury Lake

In January 2008, a consortium led by Korea Electric Power Corporation (KEPCO) (NYSE-KEP), entered into an agreement for the joint development of the Waterbury Lake Property. The Consortium can earn up to a 50% interest in the project by incurring exploration expenditures totaling C$14,000,000 over 3 years. In addition, KEPCO subscribed for 1 million common shares of Fission at $1.00 per share. Fission retains an exclusive and irrevocable "back-in option" to reacquire a 10% interest in the Property for $6 million, and also holds a 2% NSR royalty. [READ MORE]

Duddridge Lake    
The Duddridge Lake Property includes 6 over 12,954 hectares. The property is situated along the eastern margins of the Wollaston Basement Domain, which underlies a number of significant uranium occurrences in the eastern part of the Athabasca Basin, Saskatchewan. These include some of the richest uranium deposits known world wide, including: Key Lake, Millennium, McArthur River, Cigar Lake, Midwest Lake and Eagle Point. [READ MORE]

Davy Lake
The Davy Lake property was acquired in December, 2004. Currently the property comprises 64mineral claims totalling 257,472 ha. Davy Lake is located in the north-central part of the Athabasca Basin, and is accessible only by air only. [READ MORE]

Minor Bay
The Minor Bay property comprises approximately 15,800 Ha, and is located along the southeast margin of the Athabasca Basin. It is accessible by road. Minor Bay is on trend with the West Bear deposit. It is an early stage exploration property with great potential based on the continuation of basement geology and magnetic trends. Analysis of data available from earlier exploration conducted by Gulf Minerals will help guide further exploration.

Patterson Lake
The Patterson Lake property was acquired by staking in 2004. It comprises approximately 25,000 Ha, and is located about 30 km immediately south of the UEX/AREVA Anne and Collette uranium deposits near Shea Creek. [READ MORE]

Patterson Lake South
The Patterson Lake South property is made up of 11 claims over 12,493 hectares. In late 2007, Fission Energy and ESO Uranium Corp jointly staked 4 claims totaling 4,770 Ha on the southern extension of Fission's Patterson Lake property and ESO's Hook Lake claims to create the 50%/50% Patterson lake South Joint Venture. The results of the MEGATEM survey a will form a basis for developing ground targets for further work planned by the Joint Venture in 2008. Target depths for uranium mineralization are expected to be shallow (less than 300 meters deep) in this area. [READ MORE]
 
Torwalt Lake
The Torwalt Lake property comprises 812 ha, and was acquired by staking in early 2004. It is located approximately 10km east of the Waterbury Lake project in the eastern part of the Athabasca Basin. The major uranium deposits are found in the general vicinity, including the nearby Dawn Lake mine. [READ MORE]
 
Zoo Bay

Quebec

Dieter Lake    
Fission holds a 100% interest in the Dieter Lake property, which has a NI 43-101 inferred resource totaling 24.4 million lbs U3O8 at an average grade of 0.057% U3O8 (Davis and Guo, 2006). The property comprises 30,864 ha, and is located approximately 150 km north of Hydro -- Quebec Reservoir LG-4. It is accessible by helicopter or fixed-wing aircraft. [READ MORE]

Peru

Macusani
The Macusani, property is located within southeastern Peru. Fission holds the rights to 9 claim blocks encompassing 51 km2, and surface rights over some of the areas with known uranium mineralization. [READ MORE]

Board of Directors

Devinder Randhawa, MBA - Chairman & CEO

Ross McElroy, P. Geol. - President & COO

Jody Dahrouge, P. Geol. - Director 

George Sanders - Director
   
Mr. Frank Estergaard, CA - Director

Andrew Adamson, CA, PEng. - CFO