ir@fissionuranium.com
www.fissionuranium.com
TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
Program to include submission of EIS,
reserves growth, and start of Detailed
Engineering
KELOWNA,
BC, Dec. 13, 2023 /CNW/ - FISSION URANIUM
CORP. ("Fission" or the "Company") is
pleased to announce the 2024 project development program, advancing
towards construction and operation of a mine and mill for its PLS
high-grade uranium project in Saskatchewan, Canada. The 2024 program will
include submission of the Environmental Impact Assessment ("EIS"),
resource expansion, ongoing community engagement, completion of the
Front End Engineering and Design "FEED" phase, and the commencement
of Detailed Engineering.
2024 Development Program Highlights
Submission of Environmental Impact Assessment: The
draft Environmental Impact Statement will be submitted to the
Province of Saskatchewan in Q1,
2024. This is a culmination of all the data collected since 2013
and is an independent assessment of the potential environmental and
socio-economic impacts of the PLS Project. The Feasibility Study
(FS), released in January 2023,
addressed many of the required mitigations and the updated mine
plan from the FS has been incorporated into the EIS. Fission will
maintain its longer term environmental data collection activities
for the Project as it continues to gain information to support
construction and operations activities.
Completion of FEED and Construction Permitting: The
FEED phase commenced June 2023 and is
on track to be completed by June
2024. The design documentation produced by FEED will enable
Fission to advance the licensing application to construct a mine
and mill facility for the federal regulatory agency, the Canadian
Nuclear Safety Commission. Additionally, the documentation
will allow the company to submit construction permits to the
Province of Saskatchewan, pending
EIS approval and a ministerial decision, to commence early works
construction.
Commencement of Detailed Engineering: Expected to
commence in July 2024, this is the
final engineering phase to advance mine, mill, and related
infrastructure design, to the point of construction. By the end of
this phase of the Project, Fission expects to have full
construction approval for the Project from the Province of
Saskatchewan and the CNSC and will
have the necessary documentation to finalize the application to
operate a mine and mill facility for the CNSC.
Community Engagement: Community engagement work is
ongoing and will continue through the life of the project. In early
2024 Fission will commence local community meetings to discuss
outcomes and mitigation plans from the Draft EIS. This feedback
from communities will inform the final EIS to be submitted in Q2,
2024. Fission will continue to build upon its community investment
program for 2024 and is looking to support local communities with
cultural programs, youth initiatives, health and wellness, and
community development.
Resource Growth: The R1515W high-grade zone, the
western-most zone of the Triple R deposit will be targeted for
infill drilling designed to upgrade and convert Inferred Resource
to a majority Indicated Resource classification. The intent is to
be in a position to bring the R1515W zone into the current mine
plan with the potential of adding additional reserve size and mine
life to the PLS project. The current resource classification
of the R1515W is Indicated of 1,700,000 lbs
U3O8 at a grade of 1.15% in 67,000 tonnes and
an Inferred of 5,000,000 lbs U3O8 at a grade
of 0.96% in 234,000 tonnes at a cut-off of 0.25%
U3O8.
Ross McElroy,
President, and CEO for Fission, commented, "We are anticipating
another milestone year for Fission in 2024 as we advance the Triple
R deposit towards production on time and on budget. In early 2024,
we intend to submit the draft Environmental Impact Assessment to
Saskatchewan's Ministry of
Environment for review, and we anticipate the start of Detailed
Engineering. Furthermore, we will be increasing our community
engagement and outreach, in line with our focus on responsible
development as an integral part of our commitment to the highest
standards of Environmental, Social and Governance practices, and we
aim to complete an inaugural sustainability report later in the
year. Fission has the most experienced uranium mine development
team in the business, and I'm extremely pleased with the strong
rate of progress towards building one of the Athabasca Basin's next high-grade uranium
mines."
Additionally, the company has staked a new, 958.6 hectare
property in the eastern Athabasca
Basin region of northern Saskatchewan. The La Rocque property is
prospective for high-grade uranium and is located 5 km south of
Cameco's La Rocque Uranium Zone and 10 km south of IsoEnergy's
Hurricane uranium deposit.
Patterson Lake South
Property
The 31,039-hectare PLS project is 100% owned and operated by
Fission Uranium Corp. PLS is accessible by road with primary access
from all-weather Highway 955, which runs north to the former
Cluff Lake mine.
Qualified Persons
The technical information in this news release 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
CEO for Fission Uranium Corp., a qualified person.
About Fission Uranium
Corp.
Fission Uranium Corp. is an award-winning Canadian-based
resource company specializing in uranium exploration and
development. The company is the owner and developer of the PLS
uranium project – a proposed high-grade mine and mill located in
the Athabasca Basin, Saskatchewan, Canada. The company is
headquartered in Kelowna, British
Columbia. Fission's common shares are listed on the Toronto
Stock Exchange under the symbol "FCU" and trade on the OTCQX
marketplace in the U.S. under the symbol "FCUUF."
ON BEHALF OF THE
BOARD
"Ross McElroy"
_____________________________________
Ross McElroy, President and
CEO
Cautionary Statement:
Certain information contained in this press release constitutes
"forward-looking information", within the meaning of Canadian
legislation. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur", "be
achieved" or "has the potential to". Forward looking statements
contained in this press release may include statements regarding
the use of proceeds of the Offering, and the future operating or
financial performance of Fission and Fission Uranium which involve
known and unknown risks and uncertainties which may not prove to be
accurate. Actual results and outcomes may differ materially from
what is expressed or forecasted in these forward-looking
statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations.
Among those factors which could cause actual results to differ
materially are the following: market conditions and other risk
factors listed from time to time in our reports filed with Canadian
securities regulators on SEDAR+ at www.sedarplus.com. The
forward-looking statements included in this press release are made
as of the date of this press release and the Company and Fission
Uranium disclaim any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable securities legislation.
SOURCE Fission Uranium Corp.