Fission Uranium Corporate Presentation

TSX: FCU | OTCQX: FCUUF | www.fissionuranium.com
Patterson Lake South (PLS)
Stakeholder/Rights-Holders
Engagement Meetings
January 2020
TSX:FCU
OTCQX:FCUUF
FissionUranium.com

D I S C L A I M E R & T E C H N I C A L I N F O R M AT I O N
Disclaimer
The following information may contain forward-looking statements. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently
anticipated in such statements.
Technical Information
Certain of the technical information contained herein is derived from the September 23, 2019 news release entitled “Fission
Completes Prefeasibility for Underground-Only Mine at PLS: Lower CAPEX, Low OPEX, Minimized Surface Footprint” describing
results of a PFS completed on the project – a copy of which will be filed on the Company’s profile on SEDAR at www.sedar.com
within 45 days. The PFS considers the PLS project as a stand-alone mine and mill operation, which includes development and
extraction of the R00E and R780E zones (Triple R deposit), based on a number of inputs, estimates, and results.
The technical information in this corporate presentation 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 Uranium Corp., a qualified person.
The Mineral Resources have an effective date of October 23, 2018 and are reported at a cut-off grade of 0.25% U3O8 based on a
long-term price of US$50 per lb U3O8 and PFS cost estimates. Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability.
2

Introductions
Fission Uranium Corp. Team:
• Ross McElroy – CEO, COO and Chief Geologist
info@fissionuranium.com (250) 868-8140
• Mark Wittrup – Clifton Associates
• Ryan Froess – CanNorth Environmental Services
ryan.froess@cannorth.com (306) 652-4432
3

Stakeholder Engagement
“Fission Uranium Corp. is committed to building strong
relationships and working in collaboration with all
stakeholders/rights-holders including First Nations and
Métis, Tribal councils, local communities, municipalities,
governments, and regulatory agencies throughout the life
of Fission’s PLS project.”
4

Fission’s Core Principles to Engagement
Core Principles
• Our Goal: To meet regularly with stakeholders/rights-holders to keep them
informed on the PLS project including any licensing/permitting plans,
timelines, and decisions and how those may potentially impact stakeholders
in the region.
• Our Promise: To engage openly, honestly, and respectfully with all
stakeholders/rights-holders and give careful thought to their cultural
traditions/practices.
• Our Commitment: To listen to all issues, concerns, and feedback and
incorporate into the project planning phases and design of the project
where possible.
5

Athabasca: The Premier High-Grade Uranium District
INFRASTRUCTURE
• Mills nearby
• Power grid
• Highways & air
URANIUM GRADES
More than 10X World average
65 years of mining, supplying
19% of the world’s uranium
PEOPLE
• Labour nearby
• Workforce ready
6

Fission Uranium Corp – PLS Project
7

PLS Property claim
8

PLS – Major Project Developments
• Triple R Deposit discovery 2012
• Maiden Resource Estimate and Preliminary Economic Assessment
(PEA) was completed in 2015.
• Pre-Feasibility Studies (PFS) in 2019
- April 2019 - 1st PFS evaluated “Open Pit / Underground Hybrid”
mining option
- September 2019 – 2nd PFS evaluated “Underground Only”
mining option
- November 2019 Underground Only PFS report completed
- “Underground Only” option results in cost and logistics savings
due to faster construction time, minimized mine footprint, and
reduces overall environmental impacts of the project.
9

100
200
300
400
500
600
700
800
900
Cluff
Lake
Triple R
10
Key
Lake
McClean
Lake
Midwest
Roughrider
Phoenix
Cigar
Lake
McArthur
River
Millennium
Arrow
Shea
Creek
Depleted
Producing
Advanced
Exploration
“Sweet-Spot”
* Based on company information
Uranium deposits in Saskatchewan
Orano Cameco
Fission
Orano
Orano
Rio Tinto
Denison
Cameco
Cameco
Cameco
NexGen
Orano
Not currently
Producing
10

11
Triple R Deposit
U3O8 Resources
U/G Only PFS – Indicated: U/G Only PFS – Inferred: U/G Only OPEX:
102.4 Mlb U3O8 at an average grade of 2.10% U3O8 32.8 Mlb U3O8 at an average grade of 1.22% U3O8 US$7.18/lb U3O8
2.22 million tonnes 1.22 million tonnes
Five separate mineralized zones (R1515W, R840W, R00E, R780E and R1620E)
over a 3.2 km strike mineralized system
Mineral Resources are reported within an underground design at a cut-off grade of 0.25% U3O8
11

Trade-off Between Hybrid (Open Pit/Underground) and Underground Development Options
Hybrid
Open Pit/Underground Underground Mining Only
Environment • Ring dyke, slurry wall, overburden removal and
dewatering in Patterson Lake
• Impacts on fish habitat
• Impacts of dyke on the lake and treaty-rights
holders and current resources users would be
prominent.
• Completely eliminates the need for a ring dyke,
slurry wall, dewatering, and overburden removal
• Minimized mine footprint (90% reduction)
• Minimizes the impacts on Patterson Lake and on
fish and fish habitat.
• Minimizes the potential impacts on the
downstream environment.
• Minimizes the impacts on local environment (plants
and wildlife) and construction is quicker and less
material earth works needs to be moved.
Construction • Construction timeline = 4 years • Construction timeline = 3 years
Permitting and
Regulations
• More challenging from permitting/regulatory
perspective.
• Gaining a socially license to operate could be
problematic
• Lower environmental impact and reclamation
costs; permitting and licensing is required but fairly
straightforward as similar underground operations
currently exist in the Athabasca basin.
Community
Concerns
• Community concerns with a dyke being built in
Patterson Lake were voiced.
• Heard from the communities that underground
mine was the preferred option.
PLS Project – PFS Comparisons
12

PLS Project – Underground only
Addition of Zones to Mine Plan: three other
mineralized zones (R1515W, R840W and R1620E) along
strike requiring drilling to upgrade inferred to indicated
Zone Expansion: R780E Zone is open at
depth and along plunge to east with
opportunity to extend mine life
MINERALIZATION
UPGRADE
UG only scenario to PFS
level was completed in
the Fall 2019
Advancing towards a
Feasibility Study
TSX: FCU | OTCQX: FCUUF | www.fissionuranium.com13

PLS: Deposit & PFS Mine Development
14

PFS Underground only - Mine Infrastructure
15

PLS Project – Timelines Going Forward
2020 -2026
Ongoing
engagement and
consultation
activities with local
stakeholders/rights-
holders on the PLS
project and the
project plans.
2020
Submit project
description to both
the provincial and
federal regulatory
agencies kicking off
the Environmental
Assessment (EA)
phase for the project
2020- 2021
Move towards the
completion of a
bankable Feasibility
Study (FS) for the
underground mine
option in PFS.
2020- 2022
Completion of
Environmental
Assessment (EA)
process and
submission of
Environmental
Impact Statement
(EIS) to the federal
and provincial
regulators.
2023-2026
Project decision and
regulatory approvals
and the project
construction begins
with mine
production starting
in 2026 or 2027.
16

Fission: Environment Stewardship and
Best Management Practices
17

2019/2020 Environmental Studies
• Surveys completed in 2019 included winter wildlife tracking, air quality
monitoring program, additional aquatic studies focused on a broader regional
study area (further downstream along the Clearwater River).
• This information will be combined with the data previously collected (2013
to 2018) for the environmental baseline investigations for the project.
• A very strong and comprehensive environmental baseline program has been
completed for the PLS project.
Baseline Environmental Studies = 2013 – 2020
18

TSX: FCU | OTCQX: FCUUF | www.fissionuranium.com19
Environmental Studies completed – since 2013
Aquatic Terrestrial Aerial/other
• Hydrology (water
flow/amount)
• Water chemistry/
water quality
• Lake Bathymetry
• Fish spawning studies
• Fish community/fish
chemistry studies
• Sediment chemistry
• Aquatic plants /
insect studies
• Rare plant surveys
• Small mammal and
semi-aquatic
mammal surveys
• Bird surveys
(breeding birds and
raptors, eagles etc.)
• Wildlife tracking
• Pellet and browse
surveys
• Soils, lichen,
blueberry chemistry
• Bats and amphibians
• Weather station
installed - Long term
monitoring
• Air quality
monitoring (dust,
radon, SO2,
• Noise surveys
• Archaeology –
heritage resource
impact assessment

Fission’s Commitment:
Communities and Economy

Supporting Communities and Economy
• Fission is committed to working with communities and
supporting local northern businesses in the region to
maximize the training, employment, and economic
opportunities for the local people.
• Continue to build mutually respectful, beneficial, and long
lasting economic relationships with stakeholders/rights-
holders in the region.
• We will continue to utilize (and when possible) encourage sub-
contractors to maximize local northern businesses to supply
the goods and services, for the PLS project and related
activities in the region.
21

Donation/Sponsorships/Events
• Community Events and Sponsorship
• July 1st Canada Day Celebrations (La Loche)
• Yanessa Cultural Days (La Loche)
• Metis – National Aboriginal Day Celebration
• Summer festival (Buffalo Narrows)
• Core Days and geological events
• Sports
• La Loche Minor Hockey Registration Fees
• Sports teams at the high school level
• Community Donations/other
• Healthy Moms, Babies (La Loche and area)
• CRDN Elders Christmas Hampers
• La Loche Food Bank and Friendship Center
• School Programs
• Ducharme Elementary School – Class trips
• Saskatchewan Mining Association MAP Events
22

Project Engagement and Next Steps
• Continue to keep stakeholder/rights-holders informed on the
PLS project including timelines and major developments.
• Keep stakeholders/rights-holders informed on any project
milestones including Project Description submission and
regulatory filings to provincial and federal regulators.
• Plan for future stakeholder/rights-holders engagement
activities/events to share and gather valuable information
regarding as the project moves forward.
• Gather additional information on potentially impacted
stakeholders/rights-holders on potential socio-economic
cultural, and environmental impacts that the project may have
for inclusion into the environmental assessment.
23

Your feedback is Important!
Questions / Moving forward
✓What is best way to engage with your community members (in person
meetings, websites, newsletters, open house, how often, where,
translators etc.)?
✓When would be the best timing and location to come back and engage
with the community members as whole?
✓What are your major questions and concerns that you feel need to be
addressed so that you can provide updates to your community? What
questions/concerns does leadership have on the project?
✓Are there any special areas/locations or plants/animals that are of
importance to your community that should be studied or avoided?
24

Thank you
Fission Uranium Corp.
Phone: +1 250 868 8140
Toll Free: +1 877 868 8140 (North
America)
Investor Relations:
Email: ir@fissionuranium.com
CanNorth Environmental Services
rfroess@cannorth.com

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