Pitchstone Receives Securityholder Approval for Fission Transaction

Pitchstone Exploration Ltd. ("Pitchstone" or "the Company") (TSX VENTURE:PXP)
announces that it has received securityholder approval for a transaction that
will see all of the outstanding shares of Pitchstone being acquired by Fission
Energy Corp. ("Fission") (TSX VENTURE:FIS) by means of a Plan of Arrangement
("the Arrangement"). 


Securityholder Approval

At a special securityholder meeting held today in conjunction with the annual
general meeting, the Plan of Arrangement was approved by 99.5% of the votes cast
by shareholders and optionholders of Pitchstone, voting as a single class. 


The Plan of Arrangement is still subject to final approval by the TSX-V and the
Supreme Court of British Columbia. The transaction is expected to close before
July 6th.


Acquisition Terms

Fission has agreed to issue 0.2145 common shares of Fission ("Common Shares")
for each common share of Pitchstone (see April 23, 2012 news release). Based on
45,208,185 Pitchstone shares outstanding, Fission will issue 9,697,156 Common
Shares to complete the transaction, representing approximately 8.4% of Fission's
issued and outstanding Common Shares. Pitchstone options and warrants will be
converted to Fission options and warrants on the same basis as the common
shares.


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.


On behalf of the Board,

Steven J. Blower, President and CEO

This news release may contain assumptions, estimates, and other forward-looking
statements regarding future events. Such forward-looking statements involve
inherent risks and uncertainties and are subject to factors, many of which are
beyond Pitchstone's control, that may cause actual results or performance to
differ materially from those currently anticipated in such statements.


Such factors include, but are not limited to: expectations regarding the
Arrangement, the future growth, results of operations, business prospects and
opportunities of the combined company, uncertainties related to 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. Pitchstone 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.