TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
KELOWNA, BC, Sept. 8, 2020 /CNW/ - FISSION URANIUM CORP. ("Fission" or "the Company") announced today a change in senior management and Board of Directors as the Company focuses on developing the world-class Triple R uranium deposit located in Canada's Athabasca Basin.
The Company has appointed Ross McElroy as the Chief Executive Officer of the Company. Mr. McElroy replaces Devinder Randhawa, whom has elected to retire from management and the Board of Directors of the Company and has moved to its Advisory Board.
Ross McElroy stated, "We are excited to further progress the world-class Triple R uranium project towards production. We are committed to the efficient and effective development of this one-of-a-kind deposit so that it may help ease the upcoming global uranium supply deficit. We would like to thank Dev for his leadership of the Company as he has overseen the discovery of one of the world's premier mineral deposits. On behalf of the Board of Directors and the entire Fission team, we wish Dev continued success in the future."
Dev Randhawa remarked, "I would sincerely like to thank the Board, Advisory Board, and management of Fission for the past 13 years. As I retire, I am very pleased to have Ross McElroy be appointed as CEO. The future of uranium is in large low cost, world-class deposits that are located in safe jurisdictions like Patterson Lake South, and Fission is poised to develop one of the premier uranium mines in the world."
Mr. McElroy is a professional geologist with over 30 years of experience in the mining industry. He is the winner of the PDAC 2014 Bill Dennis award for exploration success and the Northern Miner 'Mining Person of the Year 2013'. He has comprehensive experience with managing and advancing many types of mineral projects from grass roots exploration to feasibility and production. As President and Chief Geologist of Fission and its predecessor, he has overseen two major uranium deposit discoveries including the world-class Triple R deposit.
Fission has also strengthened the governance of its Board of Directors with the appointment of Darian Yip as its independent Chairman. Mr. Yip has over 18 years of experience in the financial services industry and has been focused on the metals and mining sector for the past 13 years. In 2014, he co-founded and was a partner and Managing Director for a Canadian, publicly-listed investment bank's operations in Asia and was responsible for setting up their Beijing and Hong Kong offices.
Patterson Lake South Property
The 31,039-hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.
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., CEO for Fission Uranium Corp., a qualified person.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna, British Columbia. 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."
ON BEHALF OF THE BOARD
Ross McElroy, CEO
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission and Fission Uranium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Fission Uranium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE Fission Uranium Corp.
For further information: Investor Relations, TF: 877-868-8140, [email protected], www.fissionuranium.com