FISSION ANNOUNCES POSTPONEMENT OF SPECIAL MEETING OF SECURITYHOLDERS

ir@fissionuranium.com
www.fissionuranium.com

• The Board of Directors of Fission recommends that Securityholders vote FOR the Arrangement.
• Securityholders are encouraged to vote in advance of the September 5, 2024 proxy voting deadline.
• For assistance in voting, Securityholders may contact Laurel Hill Advisory Group (North America (toll-free): 1-877-452-7184 / Outside North America: 1-416-304-0211 / Email: assistance@laurelhill.com)

/NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES/

KELOWNA, BC, Aug. 26, 2024 /CNW/ - FISSION URANIUM CORP. (TSX: FCU) (OTCQX: FCUUF) ("Fission") announces the postponement of the special meeting (the "Meeting") of Fission's shareholders and optionholders (collectively, "Securityholders") in connection with the previously announced plan of arrangement (the "Arrangement") with Paladin Energy Limited ("Paladin"). The Meeting will reconvene on September 9, 2024 at 10:00 a.m. (Pacific time).

Based on a preliminary assessment of votes received by Fission's proxy solicitor, the majority of votes cast to date support the Arrangement, which is still less than the 66 2/3% required to approve the Arrangement. Nearly half the votes remain outstanding and the postponement of the Meeting is intended to provide additional time for all Securityholders to have the opportunity to make their voices heard.

Fission continues to recommend that Securityholders vote FOR the Arrangement. Fission notes that both major independent proxy advisory firms, ISS and Glass Lewis, have recommended Securityholders vote FOR the Arrangement.

DETAILS OF THE VOTE

The record date for determining Securityholders eligible to vote at the Meeting remains July 19, 2024. Securityholders who have not yet voted are urged to do so as soon as possible, in accordance with the instructions accompanying the form of proxy or voting instruction form mailed to Securityholders together with the Circular. The deadline for Securityholders to return their completed proxies or voting instruction forms has been extended to September 5, 2024 at 10:00 a.m. (Pacific time).

Securityholders who have already voted their securities in support are not required to take further action.

About Fission Uranium Corp.

Fission Uranium Corp. is an award-winning Canadian uranium project developer and 100% owner of the Patterson Lake South uranium property – a proposed high-grade uranium mine and mill in Canada's Athabasca Basin region. Fission's common shares are listed on the TSX Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF" and on the Frankfurt Stock Exchange under the symbol "2FU".

Shareholders requiring assistance in voting:

Laurel Hill Advisory Group
North America (toll-free): 1-877-452-7184
Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com

Cautionary Note Regarding Forward Looking Statements

This announcement contains certain "forward looking statements" within the meaning of Australian securities laws and "forward looking information" within the meaning of Canadian securities laws (collectively referred to as "forward looking statements"). All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward looking statements. Forward looking statements involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk factors associated with the mining industry, many of which are outside the control of, change without notice, and may be unknown to Paladin or Fission. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licences, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for amongst other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rates, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks.

Forward looking statements in this announcement include, but are not limited to, statements regarding: the expected timetable, outcome and effects of the Arrangement; the anticipated benefits of the Arrangement to Paladin's and Fission's shareholders; the ability of Paladin and Fission to complete the Arrangement on the terms described herein or at all; the plans and strategies of Paladin or Fission; the future performance of Paladin or Fission; the ability to obtain the requisite regulatory, stock exchange, court and shareholder approvals for the Arrangement; and statements about market and industry trends, which are based on interpretation of market conditions. Forward looking statements can generally be identified by the use of forward looking words such as "anticipate", "expect", "likely", "propose", "will", "intend", "should", "could", "may", "believe", "forecast", "estimate", "target", "outlook", "guidance" (including negative or grammatical variations) and other similar expressions. No representation, warranty, guarantee or assurance, express or implied, is given or made in relation to any forward looking statement. In particular no representation, warranty or assumption, express or implied, is given in relation to any underlying assumption or that any forward looking statement will be achieved. There can be no assurance that the forward looking statements will prove to be accurate. Actual and future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements were based, because events and actual circumstances frequently do not occur as forecast and future results are subject to known and unknown risks such as changes in market conditions and regulations.

Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements, and should rely on their own independent enquiries, investigations and advice regarding information contained in this announcement. Any reliance by a reader on the information contained in this announcement is wholly at the reader's own risk.

To the maximum extent permitted by law or any relevant listing rules of the ASX/TSX, Paladin and Fission and their respective related bodies corporate and affiliates and their respective directors, officers, employees, advisors, agents and intermediaries disclaim any obligation or undertaking to disseminate any updates or revisions to the information in this announcement to reflect any change in expectations in relation to any forward looking statements or any such change in events, conditions or circumstances on which any such statements were based. Nothing in this announcement will, under any circumstances (including by reason of this announcement remaining available and not being superseded or replaced by any other announcement or publication with respect to Paladin, Fission or the subject matter of this announcement), create an implication that there has been no change in the affairs of Paladin or Fission since the date of this announcement.

SOURCE Fission Uranium Corp.

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