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Fission Energy Corp.: Dispute Anticipated Over Claim Boundaries Near Waterbury Lake Property

Posted on: Thursday, 3 April 2008, 09:01 CDT

FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE: FIS) and its joint venture partner the KEPCO Consortium, takes the position that Hathor Exploration Ltd. ("Hathor") and partner Terra Ventures Inc., are currently drilling on the Company's Waterbury Lake Property.

During recent weeks, Hathor has disclosed that it had intersected significant uranium mineralization and/or gamma radiation within several holes, including 5.29% U3O8 across 11.9 m in hole MWNE-08-12. This initial discovery appears to be located within several tens of meters south of the Company's Waterbury Lake Property, within a small bay ("Discovery Bay") of McMahon Lakes. Hathor has recently announced drilling offset holes to MWNE 08-12 towards the north and are currently drilling on Fission's ground. Additional details are as follows:

1) It was originally intended that Hathor and Fission share a common claim boundary that strikes across Discovery Bay from the northeast to the southwest;

2) The record date for Hathor's Midwest NE claim is January 30, 2004 and for Fission's adjacent claim to the north is May 3, 2004;

3) Hathor has recently staked a fractional claim located atop Fission's Waterbury Lake Property, within Discovery Bay;

4) Hathor is actively drilling within the fractional claim area which Fission believes to be within the boundaries of its Waterbury Lake Property; and

5) It is anticipated that there will be a dispute as to the exact location of the boundary line delineating the two properties.

Fission disputes the validity of all claims staked by Hathor within the boundaries of its Waterbury Lake Property including the validity of any fractional claim. Fission will inform Hathor to cease drilling activities on the Company's Waterbury Lake Property. The Company will vigorously defend all rights granted by the Crown as a result of the original claim(s) it staked, and will further file a dispute with the Saskatchewan Ministry of Energy and Resources, Mining Recorder, or by any other means available to it in law, any claim, including any fractional claim, staked by Hathor within the boundaries of Company's Waterbury Lake Property.

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 reviewed on behalf of the company by Ross McElroy, P.Geol. and Vice-President of Exploration for Fission Energy Corp., a qualified person.

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

Korea Electric Power Corporation (KEPCO) is a Korean government-invested diversified energy company with over $83-billion (U.S.) in assets. The company is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. KEPCO provides electricity to almost all households in Korea and operates 20 nuclear power plants in the country with six more under development. The company has over 30,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. (www.kepco.co.kr).

Korea Waterbury Uranium Limited Partnership ("KEPCO Consortium") is a consortium primarily comprised of Korean-based companies. Led by Korea Electric Power, other participating companies include Korea Hydro & Nuclear Power, Korea Nuclear Fuel Co., Hanwha Corp. and Gravis Capital Corp., a private Canadian uranium investment company.

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

JODY DAHROUGE, President & COO

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

 Contacts: Fission Energy Corp. Bob Hemmerling Investors Relations 1-877-868-8140  Fission Energy Corp. Craig Christy Investors Relations 1-877-868-8140 Email: info@fission-energy.com Website: www.fission-energy.com

SOURCE: Fission Energy Corp.

Source: MARKET WIRE

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