U.S.A., Dec 22, 2011 (Thomson Reuters ONE via COMTEX News Network) -- Vancouver, British Columbia, December 22, 2011 - Now that Rio Tinto has succeeded in its $654 million takeover of Canandian uranium miner, Hathor Exploration and its Roughrider uranium project, let's revisit Canada's Athabasca Basin.

Canada's Athabasca Basin's dominant miners include Cameco Corp, which produces about 16 percent of the world's uranium, and French nuclear giant Areva.

For more insight into this news, please watch this short "video news alert" produced by InvestmentPitch.com. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Fission Energy" in the search box.

The fact that Cameco was outbid by Rio Tinto in its quest to acquire Hathor, leads many to believe that Cameco will turn its attention to Fission Energy (TSXV:FIS).

Fission Energy's Waterbury project, a joint venture with a Korean consortium, is located next to the Roughrider project.

Prior to the outcome in the battle between Cameco and Rio Tinto, Montreal-based Versant Partners analyst, Rob Chang stated, "We believe Fission Energy could be the next in-line to be acquired due to the proximity of J-Zone and J-Zone East to Hathor's Roughrider zone, as well as because of the quality of the deposits themselves."

As at October 20, 2011, Versant maintained its speculative buy rating on Fission Energy, and raised its target price to $1.60 per share.

Although Fission Energy's primary asset, Waterbury Lake, currently does not have a 43-101 compliant resource, management expects the first resource estimate for the J-Zone to be completed before the end of 2011. Based on reported drill data, Chang estimates that its maiden resource will be around 388,416 tonnes with 17.98 million pounds of contained U3O8 at a grade of 2.1%.

However, the company's Dieter Lake property in Quebec does have a 43-101 compliant resource, which contains 24 million pounds of U3O8 at a grade of 0.057%. Chang believes that Dieter Lake contributes $0.22 per share in value to Fission Energy, based on a global average of $1.50 per pound for uranium, for exploration companies.

Obviously benefiting from all the attention, Fission announced, on November 17th, that it had completed a private placement of 11.8 million flow-through shares at a price of $0.85 per share, for gross proceeds of $10.3 million. Fission currently trades at $0.75. The private placement was conducted on a bought deal basis by a syndicate of underwriters led by Dundee Securities.

On December 11th, Fission Energy's Chairman & CEO, Dev Randhawa was interviewed by the UK-based Sunday Express. Randhawa stated, "Fission has already received several expressions of interest in Waterbury. It is likely to sell to a producer if sizeable amounts of uranium are found, in order to focus on its other exploration assets."

He further stated that, "Several nuclear reactor construction programmes around the world, including those in China and Saudi Arabia will keep demand high and that uranium could go to $100 a pound in 2013 once the supply of the fuel from decommissioned Russian weapons dries up."

According to the World Nuclear Organization, there are currently 63 nuclear power plants under construction.

On December 14th, Fission Energy and its 50% Joint Venture partner on the PLS project, ESO Uranium, reported assays from 49 radioactive boulders discovered during the trenching program in October. The boulders, with grades as high as 31.4% and 31.2% Uranium Oxides, were located in a high grade boulder field, that had been traced for a north-south length of approximately 5 kilometres up to .9 kilometres wide.

For a more information on Fission Energy, please visit Fission's website at www.fission-energy.com, phone Bob Hemmerling at 877-868-8140 or email info@fission-energy.com.

InvestmentPitch.com is a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals.

CONTACT:

InvestmentPitch.com

Barry Morgan, CFO

bmorgan@investmentpitch.com

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the

information contained therein.

Source: InvestmentPitch via Thomson Reuters ONE