Fission Uranium's latest corporate presentation, featuring information on the company's award-winning team and PLS project, as well as the uranium sector and nuclear industry.

1. TSX:FCU
OTCQX:FCUUF
FissionUranium.com
PLS: Athabasca’s Shallow Depth,
Highly Awarded Uranium Project
Exploration Project of the Year
June 2019

2. TSX: FCU OTCQX: FCUUF
Disclaimer & Technical Information
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.
2
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

3. TSX: FCU OTCQX: FCUUF 3
Large, shallow
(~50 m from
surface), high-
grade Triple R
deposit
Maiden reserve estimate of
90.5M lbs U3O8 at 1.42% U3O8
3.2 km mineralized trend –
largest in the Athabasca Basin
Potential to
become
amongst the
top 3 largest
and lowest
cost uranium
mines
Production: 15M lbs/yr U3O8
over first 5 years
Cash costs: US$6.77/lb U3O8
over LOM
Flexible
mining
approach with
strong project
economics
OP/UG case: after-tax NPV8% of
C$693M and IRR of 21%
UG case: after-tax NPV8% of
C$696M and IRR of 26%
Near-term catalysts
• Future drill program to
upgrade/expand resource
• PFS on UG scenario Summer 2019
• Feasibility study within ~2 yrs
Award winning
project and
management
team
31,039 ha property
in a world class
uranium district
(Athabasca Basin)
Excellent potential
to expand resource
and extend mine life
Reasons to Invest

4. TSX: FCU OTCQX: FCUUF 4
Tickers TSX: FCU
OTCQX: FCUUF
Frankfurt: 2FU
Share Price (as of June 7, 2019) C$0.48
52 Week Low / High C$0.47 / C$0.78
Basic Shares Outstanding 486.0M
Options (weighted avg. strike price of C$0.89) 30.3M
Fully Diluted Shares Outstanding 516.3M
Market Capitalization (Basic) C$233.3M
Cash & ST Investments (as of May 31, 2019) C$9.5M
Investment in Fission 3.0 Corp. C$1.1M
Enterprise Value (Basic) C$247.4M
Capital Structure
Share Price Performance (Last 12 Months)
Share Ownership
Research Coverage
Management& Board
1.6%
Retail & Other
66.3%
China General
Nuclear Power
19.9%
Institutions
12.1%
Institution Analyst City
BMO Capital Markets Alex Pierce London
Cormark Securities
Tyron
Breytenbach
Toronto
Eight Capital David Talbot Toronto
Haywood Securities Colin Healey Vancouver
H.C. Wainwright & Co. Heiko Ihle New York
Red Cloud Klondike Strike
Derek
Macpherson
Toronto
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
$0.80
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Volume(M)
SharePrice(C$)
Corporate Information

5. TSX: FCU OTCQX: FCUUF 5
Management
Devinder Randhawa, Chairman & CEO
• 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
Management cont’
Ray Ashley, VP Exploration
Paul Charlish, CFO & Corporate
Secretary
Directors
William Marsh, Lead Director
Frank Estergaard, Director
Robby Chang, Director
Darian Yip, Director
Deshao Chen, Director
Shiming Ma, Director
Award Winning Project and Team

6. TSX: FCU OTCQX: FCUUF 6
Building Shareholder Value Since 1996
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)
Fission Energy Corp.
• JV KEPCO (Korea) (C$15M)
• J-Zone discovery & sale to
Denison Mines
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
Energy Fuels Takeout (2013)
1996
2007
2013
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

7. TSX: FCU OTCQX: FCUUF 7
Ownership • 100% owned by Fission Uranium
Location • 31,039 ha property located in the southwest
margin of the Athabasca Basin in northern
Saskatchewan
• Accessible by all-weather Highway 955
• Strong government support at all levels
• Straight-forward permitting process
Triple R
Deposit
• Structurally controlled, east-west trending, sub-
vertical high-grade uranium deposit
• 5 mineralized zones over a 3.2 km strike
• High grade mineralization starting at ~50 m
depth
• Zones are open in several directions
April 2019
PFS (OP/UG)
• 6-year open pit mine followed by 2 years of
underground mining (both at 1,000 tpd)
• Based exclusively on R780E and R00E zones
• 97.7% recovery rate
• LOM avg. production of 11M lbs/year U3O8
‒ 14.4M lbs/year U3O8 over first 5 years
• Cash costs of US$6.77/lb U3O8
• 4-year construction period with initial capex of
C$1.5B
• NPV8% (pre-tax) of C$1.32B and IRR (pre-tax) of
29% at US$50/lb U3O8 and US$1:C$0.75
Category Ore Grade Contained Metal
000 tonnes % U3O8 g/t Au 000 lbs U3O8 000 oz Au
Probable Reserves
Open pit 2,296 1.62 82,262
Underground 592 0.63 8,236
Total Probable 2,888 1.42 90,500
Indicated Resources
Open pit 1,609 2.33 0.58 82,753 30.1
Underground 931 1.02 0.48 21,015 14.3
Total Indicated 2,540 1.85 0.49 103,768 44.4
Inferred Resources
Open pit 40 0.62 0.24 551 0.3
Underground 1,198 1.23 0.50 32,334 19.3
Total Inferred 1,238 1.20 0.49 32,886 19.6
Reserve and Resource Estimate (April 2019)
PLS Project
Patterson Lake South (PLS) Project Overview

8. TSX: FCU OTCQX: FCUUF
Canada’s Athabasca Basin District
8
+2.5 billion pounds
of U3O8 discovered

9. TSX: FCU OTCQX: FCUUF
Athabasca: The Premier High-Grade Uranium District
ENVIRONMENT
• Political stability
• Pro-mining
• Permitting
INFRASTRUCTURE
• Mills nearby
• Power grid
• Highways & airplane access
EXPERIENCE
• 60+ years of mining
• Supplies 22% of the world’s uranium
• Saskatchewan was ranked as #3
jurisdiction in the world for mining
investment in 2018 by the Fraser
Institute
Average Grade (% U3O8)
9

10. TSX: FCU OTCQX: FCUUF 10
• Structurally controlled, east-west
trending, sub-vertical, high-grade
uranium deposit
• ~50 m starting depth of high-grade
deposits
‒ Overlain by 50 m to 60 m of sandy
overburden, with high grade mineralization
located near the bedrock-overburden contact
• Five separate mineralized zones
(R1515W, R840W, R00E, R780E and
R1620E) over a 3.2 km strike (drill
defined) mineralized system
‒ Western Zones: R1515W, R840W and R00E
are on land with 55 m to 100 m of overburden
‒ Eastern Zones: R780E and R1620E zones are
beneath Patterson Lake at generally <6 m
water depth with ~50 m of overburden
• Total strike length is now well beyond
that of Cigar Lake (1.95 km) or McArthur
River (1.70 km)
3.18 km east-west strike length
Triple R Deposit

11. TSX: FCU OTCQX: FCUUF
100
200
300
400
500
600
700
800
900
Cluff
Lake
Triple R
11
Key
Lake
McClean
Lake
Midwest
Roughrider
Phoenix
Cigar
Lake
McArthur
River
Millennium
Arrow
Shea
Creek
Depleted
Producing
Advanced
Exploration
“Sweet-Spot”
* Based on company information
Low Hanging Fruit Picked First
Orano Cameco
Fission
Orano
Orano
Rio Tinto
Denison
Cameco
Cameco
Cameco
NexGen
Orano
Unconformity
Deposits
Basement
Deposits

12. TSX: FCU OTCQX: FCUUF 12
PLS Project
April 2019 PFS (OP/UG) and April 2019 PEA (UG Only)
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 $9.57
Initial Capital Cost C$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%
• April 2019 PFS (OP/UG) cash costs of C$9.03/lb
is 45% lower than the 2015 PEA (C$16.50/lb)
• Indicated resources grew 18% from previous
estimate (February 2018)
• Initial reserve estimate of 90.5M lbs U3O8 at
1.42% from R00E and R780E Zones
• April 2019 PFS demonstrates the flexibility of
future development of the Triple R deposit
‒ Potential to develop mine as combination open pit/
underground or underground only
‒ OP includes construction of a sand dyke and
plasticized cement slurry cut-off wall into Patterson
Lake
‒ UG involves sinking shafts on land and developing
underground workings below Patterson Lake
• April 2019 PFS based exclusively on indicated
resources from R00E and R780E zones

13. TSX: FCU OTCQX: FCUUF
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%)
13
• 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
PLS Project
Trade-Off Between Hybrid (OP/UG) and UG Development Options

14. TSX: FCU OTCQX: FCUUF 14
Excellent opportunity to upgrade resource base
and extend mine life
• 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 UG
mine life
• Mineralization Upgrade: excludes [ ] of existing
inferred resources from R780E and R00E zones
Next Steps
• UG only scenario to PFS level (by Summer
2019)
• Advance towards Feasibility Study (toward end
of 2020)
‒ Conversion to indicated from R780E, R00E (20 holes)
and zones outside of PFS resource (40 holes in-fill)
‒ Feasibility level mine design, scheduling and cost
estimation
‒ Permitting
R780E
R00E
PLS Project
Project Enhancement Opportunities and Next Steps

15. TSX: FCU OTCQX: FCUUF 15
Rank Mine/Project Location
Mining
Method
2016 Production
(M lbs U3O8)
Percent of
Total
1 McArthur River Canada UG 18.0 11%
2 Cigar Lake Canada UG 17.3 11%
3 Katco Kazakhstan ISR 10.4 7%
4 Olympic Dam Australia UG 9.6 6%
5 Central Mining District Uzbekistan ISR 6.2 4%
6 Inkai Kazakhstan ISR 5.7 4%
7 Somair Niger OP 5.6 4%
8 Karatau Kazakhstan ISR 5.4 3%
9 Ranger Australia OP 5.2 3%
10 South Inkai Kazakhstan ISR 5.1 3%
- Remaining - - 69.2 44%
Total 157.7 100%
Source: S&P Global Market Intelligence
PLS
Project
Largest Uranium Mines by 2016 Production
• Under the PFS Base Case, the
PLS Project is forecast to
produce 15 million lbs of
annual U3O8 production over the
first five years
• PLS Project is positioned to be
one of largest uranium mines as
well as the largest open pit mine
in the world
• Under the PFS Base Case, LOM
avg. cash costs of US$6.77/lb,
which would be near the bottom
of the global industry cash cost
curve and amongst the lowest of
all major uranium mines
2016 Uranium Industry Cash Cost Curve
$0
$10
$20
$30
$40
$50
0 20 40 60 80 100 120
TotalCashCost(US$/lb)
U308 Production (M lbs)
2016 Uranium Industry Cash Cost Curve
First Quartile Second Quartile Third Quartile
Source: S&P Global Market Intelligence
Fourth Quartile
PLS Project
Well Positioned Amongst the Largest Uranium Mines in the World
PLS Project
• 15M lbs/yr U308 (first 5
years)
• US$6.77/lb LOM cash
costs

16. TSX: FCU OTCQX: FCUUF 16
• 31,039 ha property in the Athabasca Basin district,
with only a small portion explored to date
• Triple R deposit is open in multiple directions,
particularly westwards, towards the high-grade
boulder field
• Triple R deposit (3.2 km strike) is part of a huge
mineralized trend, with over 100 EM conductors and
multiple exploration hotspots
• Most awarded uranium exploration company with
industry-leading, multi-discipline technical team
Exploration Potential

17. TSX: FCU OTCQX: FCUUF 17
• Fission Uranium trades at a P/NAV of 0.26x¹, which is ~19% below the average P/NAV multiple uranium
exploration and development companies
• Fission Uranium should warrant a premium valuation given the size, high-grade and expansion potential of
the PLS Project and land position in the prolific Athabasca Basin
• Substantial re-rating opportunity as the company continues to advance, de-risk and grow the PLS Project
Note: as at May 1, 2019
1. NAVPS for all other companies are consensus research
2. Consensus NAVPS for Fission Uranium is based on estimates from Eight Capital and H.C. Wainwright
Source: Capital IQ and Thomson
P/NAV Multiples of Uranium Producers and Development Companies1
Uranium Producers
0.90x
0.73x
0.66x
0.59x
0.49x
0.43x
0.49x
0.47x
0.42x
0.30x 0.30x
0.26x
0.21x 0.21x
0.14x
Average: 0.63x
Average: 0.32x
Cameco Energy
Resources
Energy
Fuels
Paladin Peninsula
Energy
Uranium
Energy
Laramide Denison NexGen UEX Azarga Fission
Uranium
Vimy Berkeley Plateau
Comparable Company Analysis
Uranium Exploration and Development Companies
2

18. TSX: FCU OTCQX: FCUUF 18
Why Fission?
Award winning project
and management team
World class
uranium district
Large, shallow, high
grade Triple R Deposit
Untapped exploration
potential
Near-term resource
growth
One of the world’s largest and
lowest cost uranium projects
Triple R on a 3.2 km
mineralized trend - largest
lateral footprint in the
Athabasca Basin
Maiden reserve estimate of
90.5M lbs U3O8 at 1.42% U3O8
Majority of 31,039 ha property
remains unexplored
100s of potential drill targets
Future 2019 drill program
Triple R deposit is open in
multiple directions
April 2019 PFS outlines OP/UG mine
producing 15M lbs/yr U3O8 and LOM
avg. cash costs of US$6.77/lb
Discovered two world-class
uranium deposits since 2010

19. Appendix: Uranium Market
Reactor
Builds at
25 year high

20. Reactor
Builds at
25 year high
More reactors operating in 2018
than in any other time in history
More Japanese reactors coming online
due to strong regulator support
Middle East (home of Big Oil) aggressively
securing nuclear energy supply
USA: +25
EUROPE: +13
INDIA: +49
RUSSIA: +52
CHINA: +226
E. ASIA: +17
SAUDI ARABIA: +16
UAE: +4
447Current Reactors
Operation 56Under
Construction 111Planned 328Proposed
TSX: FCU OTCQX: FCUUF
Electricity Demand +150% by 2035
20
(+ indicates reactors under
construction, planned &
proposed)

21. TSX: FCU OTCQX: FCUUF
Growing Electrical 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
21
Source: World Nuclear News
21
Moving Forward

22. TSX: FCU OTCQX: FCUUF 22
Source: https://pris.iaea.org/pris/
447 Nuclear power reactors in
operation
56 Nuclear power reactors under
construction
111 Nuclear power reactors
planned
328 Nuclear power reactors
proposed
Reactors: Uranium Requirements & Future Nuclear Power
Source: WNA May 2019
Plans for New Reactors Worldwide

23. TSX: FCU OTCQX: FCUUF
CGN, Fission’s Strategic Partner
• 19 operating reactors*
• Important domestic and global builder of
reactors (23 new reactors under
construction world wide)*
• Owns 19.9% of Fission
• Offtake agreement - 20% of annual uranium
production from PLS; option to purchase
additional 15%
23
240
China’s Reactor Construction Boom
2030 Estimate
• 150 reactors in operation*
• 50 under construction*33
Beijing, China: Air Quality Red Alert * CGN Personal communication
China’s Strong Nuclear Buildout

24. TSX: FCU OTCQX: FCUUF 24
“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. 2107
Source: World Nuclear Association (February 2019)
2010 2016 2030
Nuclear 25% 2% 20-22%
• 9 reactors have currently
restarted
• 17 reactors currently in the
process of restart approval
• 2 reactors under
construction
• 8 new reactors planned and
proposed
Japanese Recovery Continuing

25. TSX: FCU OTCQX: FCUUF 25
Kazakhstan
(to reduce planned
uranium production by
20%)
Other Countries
Australia
Canada
(indefinite
suspensions at
McArthur River)
Africa
• Nearly 60% of primary supply comes from politically unstable countries
• Saskatchewan, Canada:
‒ Ranked #3 mining investment jurisdiction in 2018 by Fraser Institute
‒ Increased share of global production from 17% to 22% in 2016
14.1%
39%
22%
10.2%
7.9%
Politically unstable
Permitting issues
Stable & supportive
13.8%
Russia & E. Europe
All figures from Uranium Investing News (based on World Nuclear Association country reports)
Supply Side Vulnerable to Geopolitical Instabilities

26. TSX: FCU OTCQX: FCUUF 26
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
Utilities are increasingly uncovered
Source: UxC
U3O8 Mlbs
1B lbs U3O8 Uncovered in Next 8 Years and Supply Still Being Cut
0
50
100
150
200
250
2019 2020 2021 2022 2023 2024 2025
Uncovered US Utilities Uncovered Non-Us Utilities Covered

27. • Utilities buy high and
sell low
• Lack of long-term
contracting leaves
utilities exposed
• For contracting to
return, prices will
have to rise
• The longer the wait,
the stronger the
upwards pressure on
pricing
TSX: FCU OTCQX: FCUUF
Pressure is Growing for Return to Contracting
27

28. Fission Uranium Corp.
Phone: +1 250 868 8140
Toll Free: +1 877 868 8140 (North America)
Website: www.fissionuranium.com
Investor Relations:
Email: ir@fissionuranium.com