Fission Energy Corp. Completes Acquisition of Pitchstone Exploration Ltd.

NOT FOR DISSEMINATION IN THE UNITED STATES

FISSION ENERGY CORP. (TSX VENTURE:FIS) ("Fission") and PITCHSTONE EXPLORATION
LTD. (TSX VENTURE:PXP) ("Pitchstone") are pleased to announce the completion of
the sale of Pitchstone to Fission (the "Transaction") by way of a plan of
arrangement under the Business Corporations Act (British Columbia).


Pursuant to the Transaction, each Pitchstone shareholder is entitled to receive
0.2145 common shares of Fission (the "Common Shares") for each common share of
Pitchstone held. Based on 45,208,185 Pitchstone shares outstanding, Fission
issued 9,697,159 Common Shares to complete the Transaction, representing
approximately 8.4% of Fission's issued and outstanding Common Shares as of the
effective date of the Transaction. Pitchstone's outstanding options and warrants
will be converted into Fission options and warrants on the same basis as
Pitchstone's common shares.


As a result of the Transaction, Pitchstone has become a wholly-owned subsidiary
of Fission. Trading of the Pitchstone shares has been halted on the TSX-V and
Pitchstone will take steps to delist its shares from the TSX-V and cease to
become a reporting issuer in all jurisdictions in Canada where it currently has
reporting issuer obligations.


For additional information concerning the Transaction, please review the
information circular of Pitchstone dated May 28, 2012 available on SEDAR at
www.sedar.com under Pitchstone's profile.


About Fission

Fission is a Canadian based uranium exploration and development company with
properties in Saskatchewan's Athabasca Basin, Quebec, and the Macusani District
in Peru. In 2010, Fission made a significant high grade uranium discovery at its
Waterbury Lake property immediately adjacent to Rio Tinto's (formerly Hathor
Exploration's) Roughrider Deposit, and in 2011 made a high grade boulder field
discovery at its Patterson Lake South property. Both are located in
Saskatchewan's Athabasca Basin, home of the richest uranium deposits in the
world.


About Pitchstone

Pitchstone is a uranium exploration company operating in three districts in
Canada and Namibia. The property portfolio features 13 projects in the eastern
Athabasca Basin, Saskatchewan, five of which are 100% owned. In addition, there
are two joint venture projects in Namibia and several joint venture projects in
the Hornby Bay Basin, Nunavut.


Details of the Combined Entity

The combined entity creates the most significant uranium exploration property
position held by a junior company in the Athabasca Basin with a large number of
high priority targets. As a result of the Transaction, Fission will also benefit
from exposure to other important uranium jurisdictions including the Erongo
region of Namibia, the Macusani region of Peru and the Hornby Bay Basin in
Nunavut. Despite a challenging market environment in the uranium exploration
sector, Fission is well financed to continue exploration of these properties.


ON BEHALF OF THE BOARD OF DIRECTORS of

Fission Energy Corp.

Dev Randhawa, Chairman and CEO

Pitchstone Exploration Ltd.

Ross McElroy, President

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 the Arrangement. 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: expectations regarding the Transaction, the future growth, results
of operations, business prospects and opportunities of Fission and the combined
company, 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, except as required by law.