FCU NY Sept, 2019

TSX: FCU | OTCQX: FCUUF | www.fissionuranium.com
PLS: Athabasca’s Shallow
Depth, Highly Awarded
Uranium Project
September 2019
EXPLORATION PROJECT OF THE YEAR 2015
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.
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 updated Mineral Resources as reported April 15, 2019 are as reported
from data up to and including 2018 drill programs and are reported within an
open pit design at a cut-off grade of 0.15% U3O8 and 0.25% U3O8 for resources
outside the pit that are potentially mined by underground methods. The
R1620E, R840W and R1515W zones are evaluated as underground at this time.
Technical Information
Certain of the technical information contained herein is derived from the April
15, 2019 news release entitled “Fission's PFS shows Low OPEX of US$6.77/lbs
U3O8, High IRR and Clear Growth,” describing results of a PFS completed on the
project – a copy of which is filed on the Company’s profile on SEDAR at
www.sedar.com. The PFS considers the PLS project as a stand-alone mine and
mill operation, which includes development and extraction of the R00E and
R780E zones (Triple R deposit), based on a number of inputs, estimates, and
results including the following (all values in C$ unless otherwise noted):
Mineral Resources and Mineral Reserves are reported within the open pit
design at a pit discard cut-off grade of 0.15% U3O8 and outside the design at an
underground 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.
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
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
2

Why Invest
Electricity Demand
• Electricity demand growing at rapid pace
and increasingly integrated into daily life
• EV’s (Electric Vehicles) entering the
marketplace by major automobile
manufactures
• Bitcoin consumes more energy than the
entire nation of Switzerland
Serially Successful
Management Team
Dev Randhawa, Chairman & CEO, Director
Finance Monthly ‘Dealmaker of the Year 2013’, Northern
Miner ‘Person of the Year 2013’
Ross McElroy, President & COO, Director
Significant role in 4 major uranium discoveries in Athabasca
Basin, incl. Fission’s Waterbury Lake & PLS
Clean, Baseload Energy Source
“Nuclear is ideal for dealing with climate
change, because it is the only carbon-
free, scalable energy source that's
available 24 hours a day.”
— Bill Gates
Award Winning Project
• Large, High-Grade, Shallow
• Low Cost – under PFS Base Case, Life of
Mine avg. cash cost of of US$6.77/lb.
• Triple R deposit is open in multiple
directions
• Only a small portion of the property
explored to date
3

Clean Energy
C L E A N B A S E L O A D P O W E R
“Nuclear is ideal for dealing
with climate change, because
it is the only carbon-free,
scalable energy source that's
available 24 hours a day.”
BI LL GATES
4

Electricity Demand
R E A C T O R S U N D E R C O N S T R U C T I O N , P L A N N E D & P R O P O S E D
More reactors operating in 2018
than in any other time in history
Middle East (home of Big Oil) aggressively
securing nuclear energy supply
USA: 25
EUROPE: 14
INDIA: 49
RUSSIA: 52
CHINA: 225
E. ASIA: 17
Current Reactors Operation 447
Under construction 55
Planned 111
Proposed 328
Reactor
Builds at
25 year high
More Japanese reactors coming online
due to strong regulator support
5
Source: WNA

TSX: FCU | OTCQX: FCUUF | www.fissionuranium.com6
Moving Forward
Growing electric demands
and nuclear solutions
• Electricity demand growing at rapid pace and
increasingly integrated into daily life
• As demand for electricity increases, demand
for clean energy is paramount
• EV’s entering the marketplace by major
automobile manufactures
• Bitcoin POW mechanism annual electric
consumption same as Switzerland
Small Modular Reactors (SMR’s) –
implementation is a game changer
• Small Modular Reactors (SMR’s) - Game Changing
Technology
• Assembly line construction will standardize build and
reduce construction risk and decrease cost
(analogous to Ford’s Model T)
• Shorter construction time (3 years vs. 10 years)
• Transport modular components reduces major
transport requirements
• Small footprint allows smaller safety zones around
reactors
• Incremental power thus suitable for more countries,
more locations
E L E C T R I C V E H I C L E S C R Y P T O C U R R E N C Y S M A L L M O D U L A R R E A C T O R S

A N D S U P P LY S T I L L B E I N G C U T
Low U3O8 price impacts low
cost producers:
• Kazakhstan production cut by
20% over three years starting in
2018
• Production indefinitely
suspended at McArthur River
• Canadian operations shut down
at Rabbit Lake and Eagle Point
• Production cuts at Cigar Lake 0
50
100
150
200
250
2019 2020 2021 2022 2023 2024 2025
Uncovered US Utilities Uncovered Non-Us Utilities Covered
Uncovered US Utilities
Uncovered Non-US Utilities
Cover
7
1B lbs U3O8 Uncovered in next 8 years
Source: WNA

T O G E O P O L I T I C A L I N S TA B I L I T I E S
Nearly 60% of primary supply comes
from politically unstable countries
Saskatchewan, Canada:
• Ranked #2 mining investment jurisdiction in 2018 by
Fraser Institute
41%
Kazakhstan
(to reduce planned uranium
production by 20%)
15.5%
Russia & E.Europe
16%
Africa
13.2%
Canada
(indefinite suspensions
at McArthur River)
12%
Australia
3.5%
China
Politically unstable
Permitting issues
Stable & supportive
8
Supply Side Vulnerable
2.6%
Other
Source: WNA

China’s Strong Nuclear Buildout
C H I N A’ S R E A C T O R C O N S T R U C T I O N B O O M
150
reactors in
operation*
50
under
construction*
* CGN Personal communication
CGN
Fission’s Strategic Partner
22 operating reactors*
6 new reactors under construction
Important domestic and global builder of reactors
19.9% ownership of Fission
Offtake agreement
20% of annual uranium production from PLS;
option to purchase additional 15%
Beijing, China: Air Quality Red Alert
CHINA
2030 ESTIMATE
* CGN Personal communication
9

“Our resource-poor country
cannot do without nuclear
power to secure the stability
of energy supply while
considering what makes
economic sense and the
issue of climate change.”
Shinzo Abe, re-elected Prime Minister
of Japan Oct. 2017
2010 2016 2030
Nuclear Energy 25% 2% 20-22%
9 reactors
restarted
17 reactors
currently in the
process of restart
approval
2 reactors
under
construction
8 reactors
planned and
proposed
10
Japanese Recovery Continuing

Award Winning Management Team
Devinder Randhawa, Chairman & CEO, Director
• Fission Energy founding CEO and chairman from 2007
to 2013 leading company to Tier One status
• Finance Monthly ‘Dealmaker of the Year 2013’,
Northern Miner ‘Person of the Year 2013’
• Founder of Pacific Asia China Energy, sold for $34M
Ross McElroy, President & COO, Director
• Formerly with Cameco, Areva, BHP Billiton
• 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
• Professional geologist of 30+ years experience
S E R I A L LY S U C C E S S F U L M A N A G E M E N T
Ray Ashley
VP Exploration
Paul Charlish
CFO & Corporate Secretary
D I R E C T O R S
William Marsh
Kelowna, Canada
Frank Estergaard
Kelowna, Canada
Robby Chang
Toronto, Canada
Darian Yip
Hong Kong, China
Deshao Chen
Beijing, China
Shiming Ma
Beijing, China

Building
Shareholder Value
1996
S I N C E 1 9 9 6
Strathmore
Minerals Corp.
• U3O8 spot price at US$7/lb
• C$2M market cap to peak
valuation of C$457M in 2007
• JV Sumitomo (Japan)
(C$50M)
• Acquired by Energy Fuels,
2013
2007
Fission
Energy Corp.
• JV KEPCO (Korea) (C$15M)
• J-Zone (Waterbury)
discovery, 2010
• Acquired by Denison
Mines, 2013
2013
Fission Uranium Corp.
• Takeover of Alpha Minerals
• Triple R Deposit: discovered (2012)
• Completed maiden
reserve estimate and PFS in April
2019
• Chinese Utility (CGN Mining) buys
19.9% for C$82M
Fission 3.0 Corp.(2013)
• Project Generator with several
high-potential projects:
drilling-boulders-geochem-geophysics-
showings in Athabasca
• Rhyolite to spend C$22M to earn-in
80% of Macusani Assets, Peru
12

Canada’s Athabasca Basin District
Triple R Deposit
FCU Property
Holdings
FUU Property
Holdings
13

The Premier High-Grade Uranium District
AT H A B A S C A
0 0.5 1 1.5 2 2.5
Namibia
United States
Australia
Niger
Canada
Average Grade (% U3O8)
Jurisdiction
Saskatchewan was ranked as #2
jurisdiction in the world for mining
investment in 2018 by the Fraser
Institute
Grade
10 to 20 times Global Average
Global supplier
Supplies 13.2% of the world’s uranium
60+ years of mining
14

Triple R Deposit
Five separate mineralized zones (R1515W, R840W, R00E, R780E and R1620E)
over a 3.2 km strike (drill defined) mineralized system
15

Triple R Deposit
~50 m starting depth
of high-grade deposits
Total strike length is now well beyond that of Cigar
Lake (1.95 km) or McArthur River (1.70 km)
Triple R Deposit Longitudinal Cross Section View Looking Northwest
3.18 km east-west strike length
16

PLS Project
A P R I L 2 0 1 9 P F S ( O P/ U G ) A N D A P R I L 2 0 1 9 P E A ( U G O N LY )
Units
OP/UG
(PFS Case) UG Only (PEA Case)
Mine Type 6 years OP
2 years UG
7.3 years UG
Mine Life Years 8.2 7.3
Construction Period Years 4 years 3 years
Ore Mined M tonnes 2.89 2.55
LOM Avg. Head Grade % U3O8 1.42 1.64
LOM Production M lbs U3O8 90.5 81.4
Avg. LOM Annual Production M lbs U3O8 11.0 11.2
Operating Costs C$/tonne $274 $335
C$/lb U3O8 $9.03 (US$6.77) $9.57 (US$7.17)
Initial Capital Cost C$M $1,498 $1,194
LOM Sustaining Capital Cost C$M $137 $258
Project Economics at US$50/lb U3O8 and C$1.00:US$0.75
Pre-Tax Cash Flow C$M $2,910 $2,587
After-Tax Cash Flow C$M $1,759 $1,533
After-Tax NPV8% C$M $693 $696
After-Tax IRR 21% 26%
17
Operating Costs C$/tonne $274 $335
C$/lb U3O8 $9.03 (US$6.77) $9.57 (US$7.17)Operating
Costs

Trade-off Between Hybrid (OP/UG) and UG Development Options
Both scenarios results in bottom quartile cash costs. Base Case scenario 15M lbs U3O8 of annual production
over first 5 years, and a high IRR at a US$50/lb uranium price
April 2019 PFS
Hybrid (OP/UG)
April 2019 PEA
UG Only
Capital Cost • Does not require construction of a sand dyke and
plasticized cement slurry cut-off wall
• ~C$400M (20%) lower initial capex
• Eliminates pre-stripping
• Shorter construction period
LOM Production • Access additional 9.1M lbs of reserves
• 11% increase in LOM U3O8 production
• Extends mine life by ~1 year
Operating Costs • Modestly lower cash costs over LOM (~6%)
Permitting • Reduces permitting time and costs
• Potentially lower environmental impact and
reclamation costs
Project Economics • 15% higher LOM free cash flow (after-tax) • Higher IRR (26% vs. 21%)
18
PLS Projects

Exploration Potential
PLS has over 100 EM Conductors
and multiple exploration hotspots
Triple R deposit associated with just
one of these EM conductors
19
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

PLS Project Next Steps
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 (by Summer 2019)
Advance towards Feasibility
Study (toward end of 2020)
R780E
R00E

Tickers TSX: FCU
OTCQX: FCUUF
Frankfurt: 2FU
Share Price (as of September 27, 2019) C$0.33
52 Week Low / High C$0.32 / C$0.75
Basic Shares Outstanding 486.3M
Options (weighted avg. strike price of C$0.89) 25.5M
Fully Diluted Shares Outstanding 511.8M
Market Capitalization (Basic) C$160.5M
Cash & ST Investments (as of July 31, 2019) C$8.2M
Investment in Fission 3.0 Corp. C$1.1M
Enterprise Value (Basic) C$152.3M
Capital Structure
Share Price Performance (Last 12 Months)
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
$0.80
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Volume(M)
SharePrice(C$)
Research Coverage
Institution Analyst City
BMO Capital Markets Alex Pierce London
Eight Capital David Talbot Toronto
H.C. Wainwright & Co. Heiko Ihle New York
Red Cloud Klondike
Strike
Derek Macpherson Toronto
C O R P O R AT E I N F O R M AT I O N
66%
Retail &
Other
1.6%
Management
& Board
19.9%
China General
Nuclear Power
12.1%
Institutions
21

Why Fission
Award winning project and
management team
Discovered two world-class
uranium deposits since 2010
One of the world’s largest
and lowest cost uranium
projects
April 2019 PFS outlines OP/UG
mine producing 15M lbs/yr U3O8
and LOM avg. cash costs of
US$6.77/lb
Large, shallow, high grade
Triple R Deposit
Maiden reserve estimate of 90.5M
lbs U3O8 at 1.42% U3O8
Untapped exploration
potential
Majority of 31,039 ha property,
which is 5 times the size of
Manhattan Island, remains
unexplored
100s of potential drill targets
World class uranium district
Triple R on a 3.2 km mineralized
trend - largest lateral footprint in
the Athabasca Basin
Near-term resource growth
Future 2019 drill program
Triple R deposit is open in
multiple directions
22

Notes
23

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
24=

FCU NY Sept, 2019

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