Fission Energy Corp. Completes C$2 Million Non-Brokered Private Placement

KELOWNA, Jan. 21, 2013 - Fission Energy Corp. ("Fission" or the "Company") (TSX VENTURE:FIS) (OTCQX:FSSIF) is pleased to announce that, further to its press release dated December 31, 2012, the Company has now completed the previously announced non-brokered private placement (the "Private Placement") of 4,000,000 Common Share Units at a price of C$0.50 per unit (the "Unit") for gross proceeds of C$2.0 million. Each Unit consists of one common share and one common share purchase warrant exercisable at C$0.65 for a period of two years.

In connection with the Private Placement, the Company paid a cash finder's fee of 6% of the gross proceeds raised to each of the following finders:

Global Market Development: $41,400
National Bank Financial Ltd.: $6,180
Canaccord Genuity Corp.: $5,250
Raymond James Ltd.: $3,000
Brant Securities Limited: $3,000
Macquarie Private Wealth, Inc.: $750
Leede Financial Markets, Inc.: $720

All securities issued pursuant to the Private Placement are subject to a four month hold period expiring on May 22, 2013.


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. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS".


These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements.

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.


ON BEHALF OF THE BOARD

Dev Randhawa
Chairman & CEO



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.

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES



Contact

Fission Energy Corp.
Rich Matthews, Investor Relations
877-868-8140
ir@fission-energy.com
www.fission-energy.com