Fission Uranium's latest corporate presentation, featuring information on the company's award-winning team and PLS project, as well as the uranium sector and nuclear industry.

1. TSX: FCU | OTCQX: FCUUF | www.fissionuranium.com
Developing the Athabasca Basin’s Largest
Near-Surface, High-Grade Uranium Project
October 2020 - Corporate Update
EXPLORATION PROJECT OF THE YEAR 2015
TSX:FCU
OTCQX:FCUUF
FissionUranium.com

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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

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The Right Time & Project for Development
New team with deep
knowledge of uranium
project advancement
Recently appointed, award winning
CEO has over 30 years of uranium
experience - from exploration
through development.
One of the world’s largest and
lowest cost uranium projects
September 2019 PFS outlines UG
mine production of 78.7M lbs of
U3O8, averaging 13.1M lbs per for
the first five years and LOM avg.
cash costs of US$7.18/lb U3O8
Fission is significantly
undervalued vs peers
Comparison of deposits owned by
peers within the same region
shows a substantial gap in current
valuations, presenting a clear
opportunity for strong value
growth via development.
Clear development path
PFS complete; now progressing to
Feasibility Study. Social and
environmental responsibilities
consistently met since project
commencement. Industry-leading
expert on permitting and
environmental processes in place.
World class uranium district
Saskatchewan consistently ranked
in the Top 10 Mining Investment
jurisdictions in the world. Project
has excellent access to highway.
Strengthened uranium sector
Higher uranium prices and the
continually increasing focus on
green energy is shining the
spotlight on Tier One uranium
projects.
3

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Award Winning Management Team
Ross McElroy, President and CEO, Director
• Formerly with Cameco, Areva, BHP Billiton
• Professional geologist of 30+ years experience
• PDAC 2014 ‘Bill Dennis Award for Exploration Success’,
Northern Miner ‘Person of the Year 2013’
• Significant role in 4 major uranium discoveries in
Athabasca Basin, incl. Fission’s Waterbury Lake & PLS
N e w l e a d e r s h i p t e a m a d v a n c i n g P L S t h r o u g h
F e a s i b i l i t y a n d t o w a r d s c o n s t r u c t i o n d e c i s i o n
Mark Wittrup
Head of Regulatory and
Environmental Permitting
Ryan Cheung
CFO
Ray Ashley
VP Exploration
Chris Sammartino
Controller
D I R E C T O R S
William Marsh
Kelowna, Canada
Frank Estergaard
Kelowna, Canada
Rob Chang
Toronto, Canada
Darian Yip
Hong Kong, China
He Fei
Beijing, China
Shiming Ma
Beijing, China
TSX: FCU | OTCQX: FCUUF | www.fissionuranium.com4
2014 FINALIST

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Capital Structure
Share Price Performance (Last 12 Months) Research Coverage
CORPORATE INFORMATION
70.00%
Retail &
Other
0.8%
Management
& Board
19.79%
China General
Nuclear Power
9.41%
Institutions
5
Institution Analyst City
BMO Capital Markets Alex Pearce London
Eight Capital David Talbot Toronto
H.C. Wainwright & Co. Heiko Ihle New York
Tickers
TSX: FCU
OTCQX: FCUUF
Frankfurt: 2FU
Share Price (as of Oct. 9, 2020) C$0.31
52 Week Low / High C$0.095 / C$0.49
Basic Shares Outstanding 488.43M
Options 17.46M
Warrants 20.67M
Fully Diluted Shares Outstanding 526.55M
Market Capitalization (Basic) Approx. C$151.41M
Cash & ST Investments (as of August 31, 2020) C$13.06M
Debt - 4 year term until April 7, 2024 US$10M
Investment in Fission 3.0 Corp. C$1.1M

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Uranium Sector is Strengthening
Construction is Booming
1
Current Operable: 441 reactors
Under Construction: +53 reactors
Planned: +106 reactors
Proposed: +325 reactors
Demand is Growing
26% growth in global
uranium demand expected
this decade.
3
50% growth in global
electricity demand
4
Prices Continue to Increase
Uranium spot price has risen
36% during 2020.
5
6
Supply is Constrained
2
World’s Top-3 producers have
reduced production.
Major uranium mines, including
McArthur River and Key Lake,
shuttered due to market
conditions, with no restart date.
1. World Nuclear Association, Sept 2020
2. Public Announcements
3. WNA Fuel Report, Sept 2020
4. EIA Energy Report, 2019
5. UxC

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The Premier High-Grade Uranium District
AT H A B A S C A B A S I N , S A S K AT C H E WA N
0
0.5
1
1.5
2
2.5
United
States
Kazakhstan Australia Niger Canada
Average Grade (% U3O8)
Jurisdiction
Stable, supportive government and
communities, skilled workforce and
established infrastructure. Straightforward
permitting procedures.
Top-Rated
Saskatchewan is in the top 10 ranked
jurisdictions in the world for mining
investment – 2019, the Fraser Institute
Grade
10 to 20 times Global Average
Global supplier
In 2019 Canada (Saskatchewan) supplied
13.2% of the world’s uranium (currently
due to COVID-19, Canada’s production has
fallen to 0% U3O8)
7

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Canada’s Athabasca Basin District
8

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100
200
300
400
500
600
700
800
900
Cluff
Lake
Triple R
9
Key
Lake
McClean
Lake
Midwest
Roughrider
Phoenix
Cigar
Lake
McArthur
River
Millennium
Arrow
Shea
Creek
Past
Producer
Producing
Advanced
* Based on company information
The Basin’s Only Shallow, High-Grade,
Undeveloped Project
Orano Cameco
Fission
Orano
Orano
Rio Tinto
Denison
Cameco
Cameco
Cameco
NexGen
Orano
Production on
Hold
9

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Triple R Deposit – Cross Section Looking NW
10
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
Mineral Resources are reported within an underground design at a cut-off grade of 0.25% U3O8

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Robust Pre-Feasibility Results
Triple R deposit uniquely demonstrates flexibility for multiple mining methods. Two
PFS studies were completed 2019: “Underground Only” and Hybrid “Open-Pit /
Underground”.
Advantage of Underground Scenario
• ~C $320M less initial capital cost compared to Open-Pit / Underground Hybrid
• Construction time reduced by 25% to 3 years
• Bottom quartile OPEX cost of US $7.18 per lb U3O8
• Surface footprint reduced by 90% and potentially environmental impact
• Higher IRR (25% After-Tax)
• Favorable scenario with rights-holders and local communities
11

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PLS: Underground Only PFS
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Clear Potential for Low Cost Production
A P R I L 2 0 1 9 P F S ( O P/ U G ) A N D S E P T 2 0 1 9 P F S ( U G O N LY )
Units
UG Only
(PFS Case) OP/UG (PFS Case)
Mine Type 7.3 years UG 6 years OP
2 years UG
Mine Life Years 7.0 8.2
Construction Period Years 3 years 4 years
Ore Mined M tonnes 2.3 2.9
LOM Avg. Head Grade % U3O8 1.61 1.42
LOM Production M lbs U3O8 81.4 90.5
Avg. LOM Annual Production M lbs U3O8 11.3 11.0
Operating Costs C$/tonne $274 $335
C$/lb U3O8 $9.03 (US$6.77) $9.57 (US$7.17)
Initial Capital Cost C$M $1,177 $1,499
LOM Sustaining Capital Cost C$M $209 $137
Project Economics at US$50/lb U3O8 and C$1.00:US$0.75
Pre-Tax Cash Flow C$M $2,656 $2,910
After-Tax Cash Flow C$M $1,568 $1,759
After-Tax NPV8% C$M $702 $693
After-Tax IRR 25% 21%
13
Operating Costs C$/tonne $328 $274
C$/lb U3O8 $9.57 (US$7.18) $9.03 (US$6.77)Operating
Costs

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OPEX and Peer Comparisons
Mine/Project Location Stage
OPEX
(C$ / lb U3O8)
PLS Western Basin PFS $9.57
1
Arrow Western Basin PFS $5.81
2
Wheeler River Eastern Basin PFS $9.27
2
McArthur River Eastern Basin Mine $14.97
1
Cigar Lake Eastern Basin Mine $18.75
3
14
Company Resource
6
Deposits
Enterprise Value
$/lb U3O8
5
Market Cap
4
NexGen
(TSX:NXE)
Indicated: 256.6M lbs
2
Inferred: 91.7M lbs
2 Arrow $2.75 $855.3M
Denison
(TSX:DML)
Indicated 140.1M lbs
2
Inferred 11.0M lbs
2
Phoenix, Griffon,
Midwest, Midwest A, J
Zone, Husky
$1.80 $297.4M
Fission
(TSX:FCU)
Indicated 102.4M lbs
1
Inferred 32.8M lbs
1 Triple R $1.08 $151.3M
Operating Costs for Athabasca Basin Projects
Valuation Comparison vs Peers
Currently trading
at large discount
to peers
Highly competitive
prospective OPEX
1 2019 NI 43-101 technical report
2 2018 NI 43-101 technical report
3 2016 NI 43-101 technical report
4 Based on closing share price Oct 14, 2020
5 Ycharts.com
6 Based on percentage of company ownership of deposit

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Fission’s Plan and Timelines
15
Complete Team
Expansion and
Transition
Q4, 2020
PLS
Commence
Environmental
Assessment (EA) Phase
2021
Feasibility Study (FS)
2021/22
Environmental
Impact Statement
(EIS)
2023
Construction
Decision
2026
PLS Development Advantages
• Straightforward permitting process
• Government support
• Skilled workforce
• Key activities are already underway

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Next Steps for the Feasibility Study
2021 Winter / Summer
• Resource drilling on R780E and R840W zones to build mine reserves and
move 840W into mine plan (est. 22,110m in 67 holes)
• Decline holes, test pits and hole freezing to prove concept of decline for
mine plan
• Permitting / Social Impact, including Engineering, Stakeholder and Rights-
holder Agreements
• Immediately follow with full Feasibility Study in winter / summer 2021,
including
• Mine design
• Process plant design
• Site work
16

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Next Steps for the Environmental
Assessment (EA)
EA work well underway, including:
• 7 years of comprehensive baseline data collected since
2013
• Baseline survey essentially completed in 2019, with on-
going monitoring in 2020 and beyond
• Areas completed included wildlife tracking, air quality
monitoring program, aquatic studies focused on a
broader regional study area (further downstream along
the Clearwater River).
17

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Capital Costs for Key Development Activities
Through to Construction Decision
Targeting Construction Decision by 2026
18
REQUIRED WORK FOR EIS
▪ Feasibility Study (field work and report, owners rep)
▪ Permitting and Social governance
PROJECT ENHANCEMENT (Preferred but not Required)
▪ Increase Mine Resource/Reserve (22,000m in 70 holes for
R780E and R840W)
COMPLETION BY 2026
2021 – 2023
2021 – 2026
COMPLETION BY 2021
2021
$43,000,000
$27,000,000
$17,000,000
$12,000,000
$12,000,000
Targeting Construction Decision by 2026

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Fission’s Commitment: Communities & Economy
19
Fission is working to build relationships with key
stakeholders and rights-holders for support and
approvals for all development stages
Commencing in 2012, Fission has consistently
prioritized local workers and companies:
• Geotechnical
• Carpenters, mechanics & electricians
• Camp catering, security & maintenance
• Accommodation, Logistics support & vehicle
hire
Fission has provided additional support through:
• Event and sports sponsorship
• Covid-19 pandemic community funding
• Community donations
• School program funding

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Environmental Leadership
20
• Robust: Began baseline in 2013 using CanNorth Environmental (100%
owned by LaRonge Band – Kitsaki Dev. Corp.) and adjusted scope of
baseline as project developed
• Proactive: Developed drill cuttings capture methodology when working
from barges – prevented potential contaminants from reaching lake
• Careful: Minimized project footprint on land and started reclamation in
unused areas
• Compliant: Consistently compliant with permits and permissions and
regularly inspected by MOE
• Expert: ESG QP/expert hired in 2017 to advise Management and the Board
on the process of permitting and approvals through all development stages

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Environmental Win
21
• Initial hybrid plan including a large open pit in Patterson Lake
• Technically feasible
• Fission re-evaluated options and examined potential for underground-only mining
• Stronger, more robust economics
• Dramatically smaller environmental footprint
• More favourable option with stakeholders, rights-holders, regulators
• Revised PFS showed U/G approach superior to hybrid on costs, schedules and
bottom line
• A real win in listening to stakeholders, responding positively and building trust

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Triple R Tailings
Fission proposes to use “Pervious Surround” method
• Utilized at Key Lake, McClean Lake and Rabbit Lake operations
• Considered state-of-the-art for uranium tailings in Saskatchewan
• Will require a purpose-built pit as no open pits available
• Allows for optimal design
• Promotes proper density of tailings through dewatering
• Eliminates contaminant escape during operations
• Facilitates decommissioning
• Low profile final shape that fits into the landscape
• Reclaimed with local vegetation
• Modelling shows negligible impacts to Clearwater River system

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Fission Uranium Corp.
Phone: +1 250 868 8140
Toll Free: +1 877 868 8140 (North America)
Investor Relations:
Email: ir@fissionuranium.com
TSX:FCU
OTCQX:FCUUF
FissionUranium.com

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PFS Results
Physicals
• Three-year construction period, consisting of box cut and portal, decline,
ventilation shafts, underground capital development, and plant and infrastructure
construction
• Approximately seven years of operations at 1,000 tonnes per day (tpd) ore
• 2.3 Mt processed over the LOM, grading 1.61% U3O8, containing 81.4 M lbs U3O8
• Process recovery of 96.8%, based on PFS-level metallurgical testwork
• Production of 78.7 M lbs of U3O8, averaging 13.1 M lbs per year for the first five
years
Revenue
• Uranium price of US$50/lb U3O8, based on long-term consensus forecasts.
• Exchange rate of 0.75 US$/C$1.00
• Gross revenue of C$5,250 million, less Saskatchewan Government Gross Revenue
Royalties of C$381 million
• Net revenue of C$4,869 million
• Pre-Tax Cash Flow of 2,656 million
• After-Tax Cash Flow of 1,568 million
Operating Costs
• Average OPEX of C$9.57/lb (US$7.18/lb) U3O8 over the life of mine
• Unit Operating Costs of C$328 per tonne processed.
• Mining: C$137 per tonne processed
• Processing: C$116 per tonne processed
• Surface and G&A: C$75 per tonne processed
Capital Costs
• Pre-Production capital costs of $1.177 billion
• Underground mining - C$201 million
• Process plant - C$350 million
• Infrastructure - C$120 million
• Indirects & Owner’s Costs - C$315 million
• Contingency - C$192 million
• Sustaining capital costs of C$209 million
• Reclamation and closure cost of C$74 million
Physicals
• Four years of pre-production and 8 years of mine life, processing nominally 1,000
tonnes per day (350,000 tonnes per year)
• Total Tonnes Processed: 2.89 million tonnes at 1.42% U3O8 average grade; open pit
mining of 2.30 million tonnes at 1.62% U3O8
• Underground mining of 0.59 million tonnes at 0.63% U3O8
• Process recovery of 96.7%, supported by metallurgical testwork
• Production of 90.5 million lbs U3O8; an average of almost 15 million lbs U3O8 per
year for 5 years, followed by a lower-production tail
Revenue
• Long term uranium price of US$50 / lb U3O8
• Exchange rate of 0.75 US$ / C$1.00
• Gross revenue of C$5.84 billion, less Saskatchewan gross revenue royalties of $423
million
• Net revenue of C$5.41 billion
• Pre-Tax Cash Flow of 2,910 million
• Post-Tax Cash Flow of 1,759 million
Operating Costs
• Average OPEX of C$9.03/lb (US$6.77/lb) U3O8 over the life of mine
• Unit Operating Costs of C$274 per tonne processed.
• Combined Mining C$89 per tonne processed
• Processing: C$115 per tonne processed
• Surface and G&A: C$71 per tonne processed
• Operating cash flow of C$4.62 billion
Capital Costs
• Pre-Production capital costs of $1.498 billion
• Dyke and Slurry Wall - C$371 million
• Open pit mining - C$44 million
• Process plant - C$241 million
• Tailings Facility - C$101 million
• Infrastructure - C$114 million
• Indirects & Owner’s Costs - C$376 million
• Contingency - C$250 million
• Sustaining capital costs of C$137 million (includes all underground mine capital
costs, and tailings dam lifts)
• Reclamation and closure cost of C$77 million
• Cash flow from operations of C$2.91 billion
Hybrid PFS U/G Only PFS
Appendix

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Exploration Potential
PLS has over 100 EM Conductors
and multiple exploration hotspots
Triple R deposit associated with just
one of these EM conductors
25
31,039 ha property in the
Athabasca Basin district,
with ~ 80% under explored
5X
the size of
Manhattan Island
Triple R deposit is open in
multiple directions and at
depth

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Decarbonizing our Electrical Future
26
Average life-cycle carbon dioxide-equivalent emissions (Source: IPCC)
The United Nations recognises climate change as “the most systemic threat to humankind.”
• Nuclear plants produce no
greenhouse gas emissions during
operation.
• During its life-cycle, a nuclear plant
produces same emissions per unit of
electricity as wind, and one-third of
the emissions compared with solar.