Fission 3.0 Commences Murphy Lake Drilling

Kelowna, British Columbia–(Newsfile Corp. – July 5, 2022) –  Fission 3.0 Corp. (TSXV: FUU) (OTCQB: FISOF) (“Fission 3“) is pleased to report that drilling has commenced at its Murphy Lake property in the Eastern Athabasca Basin in Saskatchewan. Plans are to drill 6 diamond drill holes totaling approximately 2400m to test a new >1.5km long north-south resistivity low zone in the lower sandstone and basement in the east part of the property that was interpreted from the recently completed DC Resistivity ground geophysics survey.

This is F3’s first drill program at its Murphy Lake property which is located 5km south of IsoEnergy’s high-grade uranium Hurricane Zone and 4.5km east of Cameco’s La Roque Uranium Zone. IsoEnergy’s recently discovered Hurricane Zone now measures 757m long, 75m across and up to 11m thick with intersections up to 33.9% U3O8 discovery of over 8.5m, including 57.1% U3O8 over 5.0m. Cameco’s La Roque Uranium Zone has drill intersections along a 400m drill defined strike length which have returned up to 27.9% U3O8 over 7.0 m in historic hole Q22-40 along with elevated values of associated pathfinder elements and gold.

The association of the resistivity low feature in the lower sandstone above the one in the basement may indicate alteration in the lower sandstone which is known to occur above Athabasca unconformity high grade uranium mineralization. Drilling by the Company this summer will be focused on the SE part of the new resistivity feature where Time Domain Electromagnetic (TDEM) ground geophysics was completed just before the breakup of the lake ice. The drill holes target the conductors defined by the ground EM surveys as they can indicate graphitic shear zones along which uranium mineralization is known to be localized. This area is along strike and 2.5km to the north of historic hole Q23-5 to the south of the Murphy Lake property that intersected 0.9% U3O8, 0.98% Co, and 0.75% Ni over 1.5m in basement rocks 11m below the unconformity.

Additional TDEM ground geophysics will need to be collected next winter from lake ice to define drill targets over the northern parts of the new resistivity low zone.

Qualified Person

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 approved on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a Qualified Person. Mr. Ashley has verified the data disclosed.

About Fission 3.0 Corp.

Fission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of world’s largest high grade uranium discoveries. Fission 3 currently has 16 projects in the Athabasca Basin. Several of Fission 3’s projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits. Fission 3 is currently planning a winter exploration/drill program on its PLN project.

Figure 1: Murphy Lake Property Regional Property Location Map

To view an enhanced version of Figure 1, please visit:

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Figure 2: Murphy Lake Property Proposed Summer 2022 Drill Program Map with Lower Sandstone DC Resistivity

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/8110/129980_Map%202%20ML%20Proposed%20S2022%20Drill%20Program%20Map%20with%20SST%20Res_03Jul22.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129980