More 'Off-Scale' Radioactive Boulders and More Claims Located at Fission/ESO Patterson Lake South Uranium Property

KELOWNA, BRITISH COLUMBIA -- (Marketwire) -- 07/05/11 -- FISSION ENERGY CORP. ('Fission' or 'the Company') (TSX: FIS)(OTCQX: FSSIF), and its 50% Joint Venture (JV) partner ESO Uranium Corp., announce the completion of its boulder prospecting and radon survey program:

--  An additional twenty radioactive boulders and hot spots were discovered
    on the Patterson Lake South Property claims for a total of seventy-four.
--  Of this latest total, forty-two or 57% produced 'off-scale' (greater
    than 9,999 counts per second (cps)) radioactive readings, as measured by
    hand held Exploranium GR-110G total count gamma-ray scintillometers.
--  Four claims comprising an area of 12,217 ha (approx. 30,000 acres) have
    been acquired by staking, bringing the combined land holdings to twelve
    claims totalling 25,450 ha (approx. 63,000 acres).
--  The uranium boulder field now exceeds 4km in its longest N-S dimension
    and is up to 0.9 kms in its E-W dimension.

Samples have been submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which include a 63 element ICP-OES, uranium by fluorimetry (partial digestion). Assays will be reported when available.

A summary of the boulder and soil descriptions, in addition to a map updating the new claim boundaries at Patterson Lake South can be reviewed on the Company's website: http://www.fission-energy.com/PattersonLakeSouth.asp.

The Patterson Lake South Property is accessible by all weather Highway 955, which runs north to the former Cluff Lake Mine, (greater than 60M lbs of U(3)O(8) produced). Several of the deposits that made up the Cluff Lake Mine were located by following up uranium boulder fields significantly smaller than those discovered by the JV. While there is no certainty that any in situ uranium deposits will be discovered on the property, the next challenge for the JV is to locate and define the source of its uranium boulders.

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 COO for Fission Energy Corp., a Qualified Person.

This press release contains 'forward-looking information' that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words 'will', 'anticipated', 'plans' or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol 'FIS' and on the OTCQX International electronic trading system in the United States under the symbol 'FSSIF'.

ON BEHALF OF THE BOARD

Ross McElroy, President & COO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Fission Energy Corp.

Bob Hemmerling

Investor Relations

TF: 877-868-8140
info@fission-energy.com
www.fission-energy.com