PERTH, WESTERN AUSTRALIA–(Marketwired – August 24, 2016) – Paladin Energy Ltd (“Paladin” or “the Company”) (ASX: PDN) (TSX: PDN) announces the release of its Consolidated Financial Report for the year ended 30 June 2016.

HIGHLIGHTS

Operations

• Langer Heinrich Mine (LHM) produced⁽¹⁾ 4.763Mlb U₃O₈ for the year ended 30 June 2016, down 5% from 2015.

• C1 unit cost of production⁽²⁾ for the year ended 30 June 2016 was a record low of US$25.88/lb and a decrease of 11% from US$29.07/lb in 2015.

• TSF3 water return issue largely resolved and not expected to impact future quarters.

Sales and revenue

• Sales revenue of US$184.9M for the year ended 30 June 2016, selling 4.899Mlb U₃O₈.

• Average realised uranium sales price for the year was US$37.75/lb U₃O₈ compared to the average TradeTech weekly spot price for the year of US$33.19/lb U₃O₈, a premium to spot of US$4.56/lb.

Corporate

• Cost reduction initiatives deliver:
  • Underlying EBITDA⁽³⁾ for the year ended 30 June 2016 of US$24.8M, a US$45.7M improvement from a negative underlying EBITDA of US$20.9M for the year ended 30 June 2015.
  • Gross profit for the year ended 30 June 2016 of US$13.7M, an increase of 661% compared to the year ended 30 June 2015 of US$1.8M.
  • Underlying all-in cash expenditure⁽⁴⁾ per pound of uranium production for the year ended 30 June 2016 was US$38.75/lb (vs. guidance of US$38.00/lb to US$40.00/lb), a decrease of 24% compared to the year ended 30 June 2015 of US$50.75/lb.

¹ LHM production volumes and unit C1 cost of production include an adjustment to in-circuit inventory relating to leached uranium within process circuit.
² C1 cost of production = cost of production excluding product distribution costs, sales royalties and depreciation and amortisation before adjustment for impairment. C1 cost, which is non-IFRS information, is a widely used ‘industry standard’ term.
³ EBITDA = The Company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) represents profit before finance costs, taxation, depreciation and amortisation, impairments, foreign exchange gains/losses, restructure costs and other income. EBITDA, which is non-IFRS information, is a widely used ‘industry standard’ term.
⁴ Underlying All-In Cash Expenditure = total cash cost of production plus capital expenditure, KM care & maintenance expenses, corporate costs, exploration costs and debt servicing costs and repayments. Underlying All-In Cash Expenditure, which is a non-IFRS measure, is widely used in the mining industry as a benchmark to reflect operating performance.

• Cash and cash equivalents at 30 June 2016 of US$59.2M (vs. guidance in the range of US$45M to US$65M) decreased by US$124.5M from US$183.7M at 30 June 2015, primarily as a result of the repayment of debt.

• Achieved objective of being cash flow positive on an ‘all in’ basis for FY2016 excluding one-off restructuring costs and capital management.

• Progress on capital management during the year (US$122.9M of debt repaid):
  • Repurchased US$62M of Convertible Bonds due April 2017 to reduce outstanding amount to US$212M.
  • Repaid and terminated the US$60.9M LHM Syndicated Facility.
  • US$25.0M LHM Revolving Credit Facility put in place and was undrawn as at 30 June 2016.

• Progress on strategic initiatives (over US$200M to be raised):
  • A non-binding terms sheet has been signed with CNNC Overseas Uranium Holding Ltd (COUH) (the existing 25% minority shareholder in LHM), to sell a 24% interest in LHM. The sale, if it proceeds, will raise US$175M in cash for the Company with Paladin working towards a formal close of the transaction in the fourth quarter of CY2016.
  • A binding terms sheet signed with MGT Resources Limited (MGT) for sale of up to a 75% interest in the Company’s 100% owned Manyingee project. On closing of the transaction, MGT will acquire a 30% initial interest in Manyingee for US$10M cash with an option to acquire an additional 45% interest within twelve months for US$20M cash. The transaction is conditional on definitive documentation and a vote of MGT’s shareholders expected to be concluded in the fourth quarter of CY2016.

Outlook

• Key elements of guidance for quarter to 30 September 2016 include:
  • Uranium Sales — Anticipated to be in the range of 650,000lb to 750,000lb U₃O₈.
  • LHM C1 unit cash costs — Expected to be within the range of US$20/lb to US$22/lb.
  • Cash and cash equivalents balance as at 30 September 2016 — Forecast to be in the range of US$35M to US$55M.

• Proposed LHM mine plan adjustment involving reduced mining material movement combined with processing plant feed coming from stockpiled low and medium grade ores:
  • Effectively shifts higher-grade ore processing into later years when uranium prices are expected to be higher.
  • Reduces production of finished U₃O₈ by up to 1.0Mlb to 1.5Mlb per year for next two years but comes with a material reduction in cash operating costs.
  • Using Paladin internal assumptions, generates approximately US$40M of cumulative incremental cash flow in FY2017 and FY2018.

• FY2017 Guidance has been reviewed after changes to the LHM mine plan as follows:
  • LHM production of approximately 3.8Mlb U₃O₈ to 4.0Mlb U₃O₈.
  • LHM C1 cash costs in the range of US$19/lb to US$22/lb (US$20/lb to 22/lb for 1H FY2017 and US$19/lb to US$21/lb for 2HFY2017).
  • All-in cash expenditure for the full-year FY2017 in the range of US$32/lb to US34/lb.

• Previously announced strategic initiatives continue to progress towards formal transaction closure.

Results

(References below to 2016 and 2015 are to the equivalent year ended 30 June 2016 and 2015 respectively).

Safety and sustainability

The Company’s 12 month moving average Lost Time Injury Frequency Rate⁽⁵⁾ (LTIFR) was 1.8 as compared to 2.4 for the previous year to 30 June 2015.

Paladin’s safety record has continued to improve in the past year as a result of a long-term commitment to identify new initiatives and improvements, increases in in-house and external training, more formal risk assessments, more rigorous permits to work and more thorough site inductions. The Company remains fully focussed on improving on this positive trend.

Langer Heinrich Mine (LHM)

Langer Heinrich Mine (LHM) produced 4.763Mlb U₃O₈ for the year ended 30 June 2016, down 5% from the previous year (2015: 5,037Mlb U₃O₈).

• Ore milled of 3,574,147t, up 5% (FY2015: 3,397,659t).

• Average plant feed grade of 699ppm U₃O₈, down 9% (FY2015: 768ppm).

• Overall recovery of 86.3%, down 1% (FY2015: 87.6%).

C1 unit cost of production for the year decreased by 11% to US$25.88/lb from US$29.07/lb in 2015 as a result of the lower production volume. In the September quarter, plant production was affected by a decrease in throughput caused by reduced availability associated with planned annual maintenance and equipment reconfiguration (e.g. scrubber relining and reconfiguration of BRP). Overall recovery was also lower, caused principally by an atypical ore type which was unexpected, but fed for the whole quarter due to mine scheduling constraints. In the June quarter, production was impacted by a decrease in ore milled that was associated with a lack of recycled water from the tailings system and unplanned mechanical plant breakdowns. This issue was largely resolved by the end of the June quarter by drilling and preparation of new return water wells. It is not expected to have a material impact on production going forward.

Kayelekera Mine (KM) remains on care and maintenance

In FY2016 activities at site focused on the water treatment programme.

Profit and Loss

Total sales volume for the year was 4.899Mlb U₃O₈ (2015: 5.367Mlb).

Sales revenue for the year decreased by 7% from US$198.6M in 2015 to US$184.9M in 2016, as a result of a 9% decrease in sales volume which has been partially offset by a 2% increase in realised sales price.

The average realised uranium sales price for the year ended 30 June 2016 was US$37.75/lb U₃O₈ (2015: US$37.00/lb U₃O₈), compared to the TradeTech weekly spot price average for the year of US$33.19/lb U₃O₈.

Gross Profit for the year increased by 661% from US$1.8M in 2015 to US$13.7M in 2016.

Impairments of US$173.9M were recognised in 2016 (2015: US$241.4M)

• Impairment of LHM ore stockpiles US$168.9M, resulting from a revaluation of stockpiles of unprocessed ore.

• Impairment of aircraft ahead of its sale US$0.3M.

• Impairment of investment in Deep Yellow Limited US$1.5M.

• Obsolescence write down of stores and consumables at KM US$2.4M.

• Impairment of Summit’s office building in Mount Isa US$0.8M.

⁵ All frequency rates are per million personnel hours.

Net loss after tax attributable to members of the Parent for the year of US$122.0M (2015: Net loss US$267.8M).

Underlying EBITDA for the year ended 30 June 2016 of US$24.8M improved by US$45.7M from a negative underlying EBITDA of US$20.9M for the year ended 30 June 2015. The improved EBITDA was primarily due to cost reduction initiatives that were implemented during the year.

Cash flow

Cash inflow from operating activities for the year was US$4.3M (2015: cash outflow US$24.7M), primarily due to receipts from customers of US$186.0M, which were partially offset by payments to suppliers and employees of US$153.8M and net interest paid of US$27.3M.

Cash outflow from investing activities for the year totalled US$5.3M (2015: cash outflow US$15.6M):

• plant and equipment acquisitions of US$3.8M.

• capitalised exploration expenditure of US$4.2M.

• partially offset by receipt of US$2.5M from the sale of aircraft and receipt of US$0.2M from sale of investments.

Cash outflow from financing activities for the year of US$122.5M is attributable to the repurchase of US$62M April 2017 Convertible Bonds for US$56.4M (excluding accrued interest), repayment of US$60.9M under the LHM Syndicated Facility and US$5.2M distribution to CNNC by way of repayment of intercompany loans assigned to CNNC.

Cash position and capital management

At 30 June 2016, the Group’s cash and cash equivalents were US$59.2M, a decrease of US$124.5M from US$183.7M at 30 June 2015 primarily as a result of the repayment of debt. Guidance previously provided was for the 30 June 2016 cash balance to be in the range of US$45M to US$65M. The Company has achieved its objective of being cash flow positive on an ‘all in’ basis for FY2016 excluding one-off restructuring costs and capital management.

During the year ended 30 June 2016, the Company repurchased US$62M of the US$274M Convertible Bonds due April 2017 for approximately US$56.4M (excluding accrued interest) and repaid US$60.9M under the LHM Syndicated Facility.

In June 2016, a US$25.0M 24-month Revolving Credit Facility was implemented at LHM. The purpose is to provide a buffer facility that can be drawn in periods where LHM-level working capital requirements are in deficit, mainly due to the timing of sales receipts. The provider of the Revolving Credit Facility is Nedbank Limited, through its UK registered subsidiary, N.B.S.A. Limited. Nedbank has also taken on the role of exclusive provider of the Kayelekera Environmental Performance Bond. At 30 June 2016 the Company had not drawn any funds under this facility.

The documents comprising the Annual Report including the audited Financial Statements for the year ended 30 June 2016 together with Appendix 4E and Management Discussion and Analysis are attached and will be filed with the Company’s other documents on Sedar (sedar.com) and on the Company’s website (paladinenergy.com.au).

Outlook

Uranium market

The TradeTech U₃O₈ Spot Price at the end of June 2016 was US$26.80/lb, approximately 27% lower than at the end of June 2015.

Demand

Conflicting developments continue to characterise the restart programme for the Japanese reactor fleet. On the positive side, in August, the Ikata Unit 3 became the fifth restarted nuclear unit in Japan. Meanwhile the Japanese Nuclear Regulation Authority has approved 20-year lifespan extensions for Takahama Units 1 & 2, making these the first reactors to obtain life extension approval since the introduction of tighter regulations in 2013. Progress with Units 1 & 2 is in contrast to the status of Units 3 & 4 at the Takahama NPP, which remain offline following an injunction issued and subsequently upheld by the Otsu District Court. Kansai Electric’s appeal against the injunction is progressing but is expected to take several months to reach a resolution.

The US nuclear industry has been impacted by negative sentiment in the last six months. During the June quarter Pacific Gas and Electric announced it would not seek to extend the operation of its two Diablo Canyon nuclear units beyond their current operating licence expiry in 2025 and Entergy announced it proposed to close its James A. Fitzpatrick nuclear power plant in New York. However, the more recent news flow is improving. On 1 August the New York Public Service Commission approved a Clean Energy Standard, which supports nuclear as a form of clean energy and provides subsidies to reflect the value of carbon dioxide emissions avoided by clean nuclear power generation. As an immediate response to this, Exelon Generation announced it would take over ownership of the James A. FitzPatrick nuclear power plant that Entergy Corporation had previously determined to close. A number of other US states are now considering similar rule changes or legislation.

Growth in emerging markets continues unabated. China brought three new reactors online during the June quarter and India started up its second unit at Kudankulam on 10 July.

Supply

As CY2016 progresses, it’s becoming clear that uranium production will be lower than expected. In April Cameco announced production cuts at three of its mine / mill complexes, which Paladin estimates to have removed 4.9Mlb from CY2016 uranium supply. On 11 July 2016, Sibanye Gold announced the closure of its Cooke mine, which will remove a further 600,000lb equivalent of annualised uranium equivalent supply from the market. In addition, prior to the commencement of the year analysts expected China General Nuclear’s Husab mine to produce approximately 6Mlb of uranium for CY2016, with a February start for finished product shipments as per statements made in CY2015 by that company’s Namibian unit. However, shipments are yet to commence from that mine.

Paladin’s move to process more stockpiled material (as described in the Company outlook section) is more about increasing cash flows and preserving value but it will also have the effect of adding to the supply reductions in the market place.

Company strategy

Paladin believes that the uranium market will improve though FY2017 due to the combination of: improving regulatory and market environment for nuclear utilities in the US; more Japanese restarts; and the continued aggressive build programme of new nuclear reactors globally.

Despite the Company’s belief in a uranium industry turnaround, its current strategies are focused on optimising actions to maximise cash flow whilst also prudently enacting capital management actions. Paladin’s strategies are aimed at maximising shareholder value through the uranium price downturn whilst remaining positioned for a future normalisation of the uranium market and price. Key elements of the Company’s strategy include:

• Maximising LHM operating cash flows through optimisation initiatives that preserve the integrity of the long-term life of mine plan.

• Maintaining KM and the Company’s exploration assets on a minimal expenditure, care and maintenance basis.

• Minimise corporate and administrative costs.

• Progress strategic initiatives with respect to partnerships, strategic investment, funding and corporate transactions, that result in de-risking Paladin’s funding structure or provide clear value accretion for shareholders.

Company outlook

Paladin is working on a proposed LHM mine plan adjustment involving reduced mining material movement combined with processing plant feed coming from stockpiled low and medium grade ores. The revised mine plan effectively shifts higher-grade ore processing into later years when uranium prices are expected to be higher. The FY2017 average feed grade will be reduced into the range of 550ppm to 570ppm vs our previous internal Company budget of 700ppm. The impact of the change will reduce finished U₃O₈ production by up to 1.0Mlb to 1.5Mlb per year for each of the next two years. However, the requirement for less movement of mined material on site during the period reduces cash operating costs by well in excess of any lost revenue. Using Paladin’s internal assumptions the initiative will generate approximately US$40M of cumulative incremental operating cash flow for FY2017 and FY2018. The proposed LHM mine plan adjustment requires a number of third-party consents and Paladin intends to initiate the plan in a phased approach over the next three months.

Taking into account the proposed revised LHM mine plan, key relevant guidance items for FY2017 include:

• LHM Production — Annual production guidance in the range of approximately 3.8Mlb U₃O₈ to approximately 4.0Mlb U₃O₈.

• LHM C1 cash costs — C1 unit cash cost for FY2017 is expected to be in the range of US$19/lb to US$22/lb, being US$20/lb to US$22/lb in 1HFY2017 and then US$19/lb to US$21/lb in 2HFY2017 once the revised mine plan is fully implemented.

• Corporate costs, exploration and KM — Guidance for combined expenditure on corporate costs, exploration and KM care and maintenance is forecast to be approximately US$14M. This is a further reduction of US$5M compared to FY2016.

• The Company expects FY2017 that the all-in cash expenditure for the full-year FY2017 will be in the range of US$32/lb to US$34/lb.

Key relevant guidance items for the quarter to 30 September 2016 include:

• Uranium Sales — Anticipated to be in the range of 650,000lb to 750,000lb U₃O₈.

• LHM C1 cash costs — Expected to be within the range of US$20/lb to US$22/lb (previously US$23/lb to US$25/lb).

• Cash and cash equivalents balance as at 30 September 2016 — Forecast to be in the range of US$35M to US$55M.

The previously announced strategic initiatives regarding the COUH acquisition of an additional 24% interest in LHM for US$175M and sale of an interest in Manyingee project to MGT continue to be progressed in the documentation stage. Paladin has also received legal advice confirming that COUH’s investment in LHM will not require an application to the Australian Foreign Investment Review Board. Paladin intends to use funds received from the strategic initiatives together with existing cash reserves to fully repay the US$212M outstanding amount of the Convertible Bonds due April 2017.

GENERALLY ACCEPTED ACCOUNTING PRACTICE

The news release includes non-GAAP performance measures: C1 cost of production, EBITDA, non-cash costs as well as other income and expenses. The Company believes that, in addition to the conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to evaluate the Company’s performance and ability to generate cash flow. The additional information provided herein should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

DECLARATION

The information in this announcement that relates to minerals exploration and mineral resources is based on information compiled by David Princep BSc, P.Geo FAusIMM (CP) who has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and as a Qualified Person as defined in NI 43-101. Mr Princep is a full-time employee of Paladin Energy Ltd. Mr. Princep consents to the inclusion of the information in this announcement in the form and context in which it appears.

CONFERENCE CALL

Conference Call and Investor Update is scheduled for 07:30 Perth & Hong Kong, Thursday 25 August 2016; 00:30 London, Thursday 25 August 2016 and 19:30 Toronto, Wednesday 24 August 2016. Details are included in a separate news release dated 15 August 2016.

The documents comprising the Annual Results Conference Call and Investor Update will be filed with the Company’s other documents on Sedar (sedar.com) and on the Company’s website (paladinenergy.com.au).

ACN 061 681 098

KELOWNA, BRITISH COLUMBIA–(Marketwired – Aug. 24, 2016) – FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) (“Fission” or “the Company“) is pleased to announce results from the summer drill program for the final 11 exploration drill holes (7 core holes and 4 Reverse Circulation (RC) holes) at its PLS property, host to the Triple R deposit, in Canada’s Athabasca Basin region. Three results are of particular importance:

1. Approximately 600m west on strike from the R840W zone, exploration hole PLS16-490 (1665W) returned anomalous pathfinder geochemistry including uranium (up to 115 ppm) and boron up to 115 ppm and 775 ppm respectively.
2. Step out drilling 30m west of the R840W zone, RC hole PLCRC16-010 encountered anomalous radioactivity in rock chips, corresponding to a peak of 9,308 cps in down-hole gamma probe.
3. Probing deeper below the R780E zone, exploration hole PLS16-503 intersected anomalous radioactivity representing the deepest mineralization on the Triple R zone to date and potentially opening up an entirely new area.

The company considers all three discoveries a high priority for follow up.

Ross McElroy, President, COO, and Chief Geologist for Fission, commented,

“We are highly encouraged by the exploration drilling 600m west of the R840W zone. The discovery of uranium pathfinder elements in this area highlights the strong potential for mineralization as we push towards the high-grade boulder field, approximately 2.5km west of our 2.63km mineralized trend. We are also very pleased with the successful, high-grade step out, 30m west of the R840W zone, which confirms that the zone is wide open to the west. Finally, it is important to mention the discovery of mineralization at depth beneath the Triple R deposit. This is a virtually uncharted area for us and illustrates the potential to expand the Triple R resource at depth. All three areas warrant aggressive follow up in the next drill program.”

Additional Exploration Results Detail

• Uranium Pathfinder elements drilled 600m west of R840W
  • PLS16-490 (1665W) returned anomalous boron (up to 775 ppm) and uranium (up to 115 ppm) pathfinder geochemistry approximately 600m west on strike from the R840W zone.
• 30m west step-out RC hole shows potential to expands R840W zone
  • Hole PLSRC16-010 has intercepted anomalous radioactivity up to 460 cps in rock chips over 3.05m (156.97m to 160.02m) corresponding to a peak of 9,308 cps in down hole gamma survey, on line 1050W, 30m west of the high-grade, shallow and land-based R840W zone. Successful drilling recently merged the R600W zone into the R840W zone.
• New mineralization discovered at depth beneath Triple R deposit
  • Hole PLS16-503 (line 780E) intersected 74.0m of total composite mineralization, including 0.68m total composite of >10,000 cps, over a 425.5m section (135.5m to 561.0m). In particular a 46.0m section between 515.0m and 561.0m, which includes a total composite mineralization of 6.0m with radiometric peaks up to 3400 cps, represents the deepest mineralization encountered to date beneath the R780E zone and reflects the potential to grow the deposit at depth

As part of the activity towards the pre-feasibility study, the four soil overburdern geotechnical holes and five regional hydrogeology monitoring wells were completed successfully. The 2D marine seismic survey is expected to begin in late August.

PATTERSON LAKE CORRIDOR

Core Holes

PLG-3B Conductor Trend

PLS16-486 (line 780W) was planned to test a short 2016 TDEM infill conductor identified north of R600W. This new TDEM conductor was thought to possibly represent the same structure that hosts the deep R600W mineralization and the hole attempted to intersect the structure up-dip. PLS16-486 cored the north side quartz-feldspar-biotite-garnet gneiss over its entire length and no prospective lithologies or structures were intersected.
PLS16-503 (line 780E) was drilled to test for deep mineralization below the currently defined R780E zone of the Triple R deposit. Uranium mineralization was intersected to a depth of approximately 515 m below surface which represents the deepest mineralization encountered at Triple R to date. The bottom of the mineralized zone likely corresponds with the base of the silicified south side quartz-feldspar-biotite-garnet gneiss.

PLS16-490 (line 1665W) was planned to test the interpreted western extension of the PLG-3B EM conductor identified by the 2016 TDEM survey where it was cross cut by several interpreted NE striking faults. The drill hole cored a thick sequence of strongly bleached, clay and hematite altered mafic and quartzofeldspathic gneisses. A zone of general boron enrichment was encountered from 390m to 550m, with a peak of 775 ppm at 379.5m. A peak of 116 ppm uranium was encountered at 182m. Concentrations of anomalous boron and uranium were found to occur within the altered mafics. Based on geochemistry and alteration this area remains highly prospective and warrants follow-up.

PLG-1B Conductor Trend

PLS16-492 (line 2010E) tested the PLG-1B EM conductor on a prospective left stepping bend near hole PLS14-206. PLS14-206 cored an apparently thick graphitic fault zone with highly anomalous boron and uranium, up to 593 and 93 ppm (TD), respectively. PLS16-492 intersected only weak to moderately altered quartzofeldspathic and mafic gneisses with no significant structures as seen in PLS14-206.

PLG-3C Conductor Trend

PLS16-511 (line 3165E) tested the interpreted eastern extension of the PLG-3C EM conductor which was identified by the 2016 TDEM survey. The drill hole cored the same sequence of quartzofeldspathic and mafic gneisses seen in the main Triple R deposit, although less altered. Encouraging alteration and lithographic sequence make this an analogue to early drilling at R840W and represents a target which warrants further follow-up.

RC Holes

PLSRC16-007 (line 1275W) tested for the main graphitic corridor which hosts the Triple R deposit north of PLS12-017. PLS12-017 intersected strong alteration and anomalous B and U, up to 174 and 27 ppm (TD), respectively. Despite intersecting the graphitic corridor from 181 – 201m no uranium mineralization was detected. Due to the discreet nature of the mineralization at R840W however there is still scope for further drilling in this area.

PLSRC16-008 / 009 (line 2085W) were drilled on the interpreted western extension of the PLG-3B EM 2016 infill TDEM conductor along a left stepping bend. The graphitic corridor was not intersected in either drill hole, and both were relatively unaltered.

PLSRC16-010 (line 1050W) was drilled to determine the location of the graphitic corridor to the west of R840W. The typical sequence of lithologies intersected at the Triple R deposit were cut, with the graphitic corridor occurring from approximately 150 – 160m down hole. Moderate uranium mineralization, up to 9,307.7 cps (2GHF-1000 gamma probe) was intersected within the graphitic corridor. This mineralization may represent an area for further growth of the R840W zone to the west. Further follow up with a core drill is highly recommended.

FOREST LAKE CORRIDOR

PLV-41D Conductor Trend

PLS16-497 (line 2910W) was designed to test the intersection of a thick graphitic fault zone cored in hole PLS16-478 near the top of bedrock. The fault zone was overshot however, and the drill hole only cut a weakly altered sequence of mafic gneiss, quartzofeldspathic gneiss and pegmatite.

PLV-19C Conductor Trend

PLS16-509 (line 2085W) tested a VTEM conductor break with coincident gravity low along strike from hole PLS15-349 which returned anomalous uranium up to 60 ppm (TD). The hole cored weakly to moderately quartzofeldspathic gneiss and mafic gneiss with minor graphitic fault zones.

PLS Mineralized Trend & Triple R Deposit Summary

Uranium mineralization at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling approximately 2.63km of east-west strike length in four separated mineralized “zones”. From west to east, these zones are: R840W, R00E, R780E and R1620E. Thus far only the R00E and R780E have been included in the Triple R deposit resource estimate.

The discovery hole of what is now referred to as the Triple R uranium deposit was announced on November 05, 2012 with drill hole PLS12-022, from what is considered part of the R00E zone. Through successful exploration programs completed to date, it has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit.

The Triple R deposit consists of the R00E zone on the western side and the much larger R780E zone further on strike to the east. Within the deposit, the R00E and R780E zones have an overall combined strike length validated by a resource estimate of approximately 1.05km with the R00E measuring approximately 105m in strike length and the R780E zones measuring approximately 945m in strike length. A 225m gap separates the R00E zone to the west and the R780E zones to the east, though sporadic narrow, weakly mineralized intervals from drill holes within this gap suggest the potential for further significant mineralization in this area. The R780E zone is located beneath Patterson Lake which is approximately six metres deep in the area of the deposit. The entire Triple R deposit is covered by approximately 50m to 60m of overburden.

Mineralization remains open along strike both to the western and eastern extents. Previous logging of drill core interpreted sequences of basement rocks to be meta-sedimentary (meta-pelitic and meta-semi-pelitic gneiss) but recent observations have changed this interpretation to represent varying degrees of altered mafic volcanic rocks. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are, associated with the PL-3B basement Electro-Magnetic (EM) Conductor. Recent very positive drill results returning wide and strongly mineralized intersections from the R840W zone, has allowed interpretation to merge the previously described R600W zone into the R840W zone. The R840W zone, located 495m west along strike of the Triple R deposit, now has a defined strike length of 465m and is still open. Drill results within the R840W zone have significantly upgraded the prospectivity of these areas for further growth of the PLS resource on land to the west of the Triple R deposit. The recently discovered high-grade mineralization in the R1620E zone, located 270m to the east along strike has significantly upgraded the prospectivity for further growth of the PLS resource to the east of the Triple R deposit.

Updated maps can be found on the Company’s website at http://fissionuranium.com/project/pls/.

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., President and COO 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, President and COO

Cautionary Statement:

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.

OTTAWA, ONTARIO–(Marketwired – Aug. 23, 2016) – Everton Resources Inc. (“Everton” or the “Company“) (TSX VENTURE:EVR) is pleased to announce that it has received the assay results from the Blue Sky Jackpot Lithium Property in the Thunder Bay Mining District of Ontario approximately 150 kilometers northeast of Thunder Bay. Results ranged up to 7.08 % LiO2, the following table presents the distribution of lithium oxide assay results. Follow the link for the map and assaying data.

To view the map associated with this news release, please visit: http://media3.marketwire.com/docs/1066814m.pdf.

Assay Result Distribution

The full list of assay result, maps indicating sample locations and photographs of samples providing some context for these assay results are available on www.evertonresources.com. All rock samples submitted were of bedrock material, obtained with hammer and chisel on best grab basis. These results prove the lithium bearing nature of some of the pegmatite dykes. The continuity and grade of lithium within individual pegmatite dykes can only be assessed through a more detailed evaluation.

The assay results received validate visual observations of spodumene during the field program and confirms the presence of a two-kilometer trend about 300 meters wide consisting of several distinct outcrop areas of spodumene bearing pegmatite. Multiple sub parallel spodumene bearing pegmatite dykes are present associated with a generally northeast – southwesterly trending structural corridor. The pegmatite outcrops are commonly situated in distinct subcrop trends that infer bedrock continuity in excess of 200 meters. While it is not possible to establish the orientation or widths of the individual pegmatite dykes at this time observation indicate that there is considerable variation from sub-horozantal to sub-vertical. There is an general trend to observed intrusive contacts with an overall northeast-southwest strike. Overburden cover usually obscures the evaluation of the width of the pegmatite dykes, however the observations of widths reported by E.G. Pye 1965, “Geology and Lithium Deposits of the Georgia Lake Area, Thunder Bay District” Geological Report No.31 have been validated. Locally structure, topography combined with intermittent bedrock outcrop and observed intrusive contact of a pegmatite dykes locally provides some evidence to indicate substantial widths of steeply dipping spodumene bearing intrusive.

A previously undocumented 100meter long intermittent series outcrops of pegmatite was encountered 200 meters southwest of the Alix Resources claim group trending N65E. Sample 876038 returned the equivalent of 2.96% lithium oxide from this dyke, The width and orientation of the dyke could not be determined as no contacts or other bedrock was observed. Everton’s Blue Sky Jackpot Lithium property surrounds the Jackpot Occurrence, a small four claim unit group in the center of the Everton property, that is also described by E. G. Pye in his 1965 report as reportedly hosting a historic non-compliant resource of 2 million tons of 1.09% lithium oxide.

Assays were performed by ALS Canada using their Li-OG63 method for ore grade lithium samples which reports the percent of elemental lithium in the sample. The assays data is presented in this news release as equivalent lithium oxide using a standard conversion factor of 2.153.

Based on these positive results the Company is considering going back to the property this fall to take some mini bulk samples (50-100 pound samples) from several of the areas with high grab values to try and establish lithium grade and start the permitting process to better determine continuity of high grade areas.

The technical content of this release was reviewed by Wade Kornik, P.Geo., a qualified person as defined by the National Instrument 43-101.

About Everton Resources Inc.

Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world’s two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) (“Goldcorp”). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton’s interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp’s Eleonore gold deposit. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.

For further information on Everton Resources Inc., please visit: www.evertonresources.com.

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton’s plans, objectives, strategies, expectations and intentions. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton’s actual results, performance or achievements to be materially different any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton’s views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

PLANO, TX–(Marketwired – August 23, 2016) – Torchlight Energy Resources, Inc. (NASDAQ: TRCH) (“Torchlight” or the “Company”), today provided an update regarding the Company’s operational progress in their Orogrande and Hazel Projects.

Orogrande Project:

As previously announced, Torchlight and their operating partner, Founders Oil and Gas, drilled, logged, cored, and set pipe on the University Founders B-19#1 well, the first well to be spudded under their Joint Development Agreement. On August 5^th, Founders delivered a 65,000 lb. frac to a small section of the upper zone which contains more than 600 feet of total pay. Founders then set production tubing and began swabbing the well in on August 11^th. The process of removing the frac load fluid required the installation of a down-hole pump to move higher volumes of liquid and reduce hydrostatic pressure. The pump will provide a more efficient means to bring any oil and gas produced into the well bore and to surface. The pump has been installed and fluid volumes have increased, however, due to the road conditions on location created by heavy rainfall, the required hauling of water has been delayed. The Company expects to begin the pumping process again within a few days and will provide a further update on their progress in the coming weeks.

Hazel Project:

Torchlight along with operating partner, Maverick Oil and Gas, drilled, logged, cored and set pipe in late July on the Flying B Ranch #1 well, the first well on Torchlight’s 12,000 gross acre position in the Midland Basin. The Company is currently acidizing and delivering a 210,000 lb. frac to test a 250 foot interval of pay in the Wolfcamp A & B zones. Once the frac is delivered, Torchlight will begin production testing and report the results.

“We continue to be encouraged by the progress made on both of our West Texas assets and look forward to measurable results,” stated John Brda, Torchlight’s CEO. “Although inclement weather has put us slightly behind schedule, we continue to move operations forward as planned and are optimistic about the results from both Projects. As always we remain committed to communicating the Company’s milestones to our shareholders.”

About Torchlight Energy

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin and Eagle Ford Shale. For additional information on the Company, please visit www.torchlightenergy.com.

Forward Looking Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company’s ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

KELOWNA, BRITISH COLUMBIA–(Marketwired – Aug. 22, 2016) – Fission 3.0 Corp. (TSX VENTURE:FUU) (“Fission 3“) is pleased to announce that all drill operating permits have been amended and approved and Phase two of the summer exploration drill program, at its Macusani project in Peru, has now commenced. The seven hole, 1000m second phase follows the highly successful first phase, in which four holes intercepted mineralization at very shallow depth, including a peak of 3,100 CPS mineralization (hole MAC16-003). Drilling will focus on the Llama South and Llama North targets, where numerous anomalous uranium outcrops have assayed >2% U₃O₈ including a maximum of 24.48% U₃O₈. The budget for Phase 1 (completed June 15, 2016) and Phase 2 is $610,000.

The Llama South and Llama North prospects are part of an anomalous mineralized 8km NE oriented corridor that includes two shallow, resource-defined and heap leachable uranium deposits on Plateau Uranium Inc.’s (“Plateau Uranium”) property. Both deposits are also host to substantial lithium mineralization.

Drill program highlights are as follows:

• Drilling to follow successful phase one program that intercepted mineralization within 15m from surface.
• Target areas are highly prospective for high-grade uranium at surface and potential anomalous lithium.
• Seven holes (collared both angled and vertical) in 1000m of core drilling along the Llama corridor.
• 2 holes will target the Llama South prospect area, where numerous surface assays in the immediate area returned highly anomalous values with a peak of 3.15% U₃O₈.
• 5 holes will target the Llama North prospect area, located approximately 3km to the NE of Llama South, where numerous surface assays in the immediate area returned highly anomalous values up to 6.19% U₃O₈.

Ross McElroy, COO, and Chief Geologist for Fission 3, commented,

“With four holes hitting mineralization 15m from surface, first pass drilling at Macusani was a noticeable success, and we are excited to be starting phase two. Thanks to the two shallow-depth deposits located on Plateau Uranium’s adjacent properties, we know that the region contains substantial quantities of mineralization and our prior drilling, combined with the large number of surficial showings of uranium, highlights the significant potential of our Macusani project.”

Natural gamma radiation in drill core will be recorded in the field, measured in counts per second (cps) using a hand held GR-130G Scintillometer manufactured by Radiation Solutions. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals can be highly variable.

Samples from the drill core will be split in half sections on site. Where possible, samples will be 2, extending up to 10’s of meters in rocks of high permeability and <1m in rocks of lower permeability. The areas of the anomalous mineralized corridor being targeted by Fission are referred to as the Llama South prospect (SW part of the corridor) and the Llama North prospect, located approximately a further 3km to the NE, where uranium seen on surface outcrops and trenches consists of both strataform (within moderately clay altered sub-members of the Yapamayo Member) and structurally controlled mineralization.

Updated maps can be found on the Company’s website at http://fission3corp.com/projects/macusani/maps/.

The Macusani Project

The Macusani property is located within southeastern Peru. Fission 3.0 Corp. holds the rights to 9 claim blocks encompassing 51 km². The district is mining-friendly, has a mild climate and has solid infrastructure, including all-weather roads and low-cost power.

Within the area, the stratigraphy is dominated by the sub-horizontal Pliocene Quenamari Formation, which is mainly composed of ignimbrite layers. Uranium anomalies occur on plateaus that are composed of the Upper Yapamayo Member of the Quenamari Formation. Sampling to date has shown that the most significant uranium anomalies appear to be restricted to this assemblage. Mineralization within the area is dominated by very high grade Autinite veins along ‘enriched fault planes’, with lesser disseminated mineralization. The significant fault planes can vary from up to 2m thick, while multiple enriched fault planes occur in shear zones up to 150 m across.

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., COO and Chief Geologist for Fission 3.0, a qualified person.

About Fission 3.0 Corp.

Fission 3.0 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. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”

ON BEHALF OF THE BOARD

Ross McElroy, COO

Fission 3.0 Corp.

Cautionary Statement: Fission 3.0 Corp.

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 3.0 Corp. 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 Fission 3.0 Corp. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TORONTO, ONTARIO–(Marketwired – Aug. 19, 2016) – Khan Resources Inc. (CSE:KRI) (“Khan” or “the Company”) announced today that it has filed its financial statements and management’s discussion and analysis for the six months ended June 30, 2016 on SEDAR and has posted these documents to its website www.khanresources.com.

Highlights

International Arbitration Settlement – On March 2, 2015 the international arbitration tribunal rendered an award to Khan as compensation for the Government of Mongolia’s illegal actions in relation to the cancellation of Khan’s uranium licenses in 2009.

On March 6, 2016, the Company signed a settlement agreement with the Government of Mongolia under which Mongolia would pay the Company US$70 million on or before May 16, 2016 and all outstanding matters pursuant to the international arbitration award would be resolved and terminated.

On May 18, 2016, the Company announced that Khan and the Government of Mongolia had signed all of the documentation required for the release of the US$70 million from an escrow account to Khan. The funds have now been received. In addition, Khan’s petition for certification of the international arbitration award filed in June 2015 in the US District Court in the District of Columbia, has now been dismissed.

Over the last few months, liabilities have been discharged and alternatives have been evaluated to distribute the net proceeds to shareholders in a timely and efficient manner. To this end, the Company’s corporate structure has been simplified and fiscal year-ends for the Khan group of companies have been better aligned. In addition, on August 17, 2016, Khan Resources Bermuda Ltd. was sold to an independent third party. The sale included three other Khan subsidiaries, namely CAUC Holding Company Ltd. CAUC LLC and Khan Resources LLC.

Having consulted with its various professional advisors, the Company has concluded that the above reorganization and the sale of Khan Bermuda and its subsidiaries will accelerate and maximize shareholder distribution by simplifying the corporate structure and avoiding the need to wind-up and repatriate cash from these foreign subsidiaries in multiply jurisdictions and reducing or eliminating any risks to Khan associated with such subsidiaries.

Cash – The major cash inflow during the nine months ended June 30, 2016, was US$70,000,000 of the settlement proceeds from the Government of Mongolia; in addition, officers and employees of the Company exercised 3,680,000 stock options resulting in a cash inflow of $1,407,675. A portion of the proceeds are being used for general corporate matters and legal and tax consulting services to develop procedures to distribute the majority of the proceeds to shareholders. Cash and cash equivalents at June 30, 2016 stood at $87,164,000.

The following table summarizes financial results of the Company for the nine months ended June 30, 2016 and 2015.

Forward-Looking Statements and Information

This press release may contain forward-looking statements and forward-looking information, which are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are characterized by words such as “will”, “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “forecast”, “schedule”, “estimate” and similar expressions, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements and information are not historical facts and are based upon a number of estimates and assumptions and are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors, including the impact of international, Mongolian and Canadian laws, trade agreements and regulatory requirements on Khan’s business, properties, licenses, operations and capital structure, Khan’s ability to re-instate or re-register the Dornod uranium project licenses, regulatory uncertainty and obtaining governmental and regulatory approvals, legislative, political, social, regulatory and economic developments or changes in jurisdictions in which Khan carries on business, the nature and outcome of pending and future litigation, arbitration and other legal proceedings, the speculative nature of exploration and development, risks involved in the exploration, development and mining business, changes in market conditions, changes or disruptions in the securities markets and market fluctuations in prices for Khan securities, the existence of third parties interested in purchasing some or all of the common shares or Khan’s assets, the method of funding and availability of any potential alternative strategic transactions involving Khan or its assets, including those transactions that may produce strategic value to shareholders, the need to obtain, maintain and/or re-register licenses and permits and comply with national and international laws, regulations, treaties or other similar requirements, and uncertainty in the estimation of mineral reserves and resources. In addition, a number of other factors could cause actual results to differ materially from the results discussed in such statements and information, and there is no assurance that actual results will be consistent with them. For further details, reference is made to the risk factors discussed or referred to in Khan’s annual and interim management’s discussion and analyses and Annual Information Form on file with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Such forward-looking statements and information are made or given as at the date of this news release, and Khan assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.

CALGARY, ALBERTA–(Marketwired – Aug. 18, 2016) – Paramount Resources Ltd. (TSX:POU) (“Paramount” or the “Company”) is pleased to announce that it has completed its Musreau / Kakwa asset sale (the “Sale Transaction”) to Seven Generations Energy Ltd. (“7G”). Consideration received by Paramount under the Sale Transaction totaled approximately $2.1 billion, and included approximately $0.5 billion in cash (after adjustments), approximately $1.0 billion in 7G shares (based on the August 17 closing price for 7G shares) and approximately $0.6 billion of debt assumed by 7G (including accrued interest and based on the August 17 noon Canada / U.S. dollar exchange rate).

As previously disclosed, holders of approximately $283.5 million aggregate principal amount of Paramount’s senior unsecured notes due 2019 (the “2019 Notes”) consented to the waiver and amendment of certain provisions of the indenture for the 2019 Notes and such holders will remain as holders of their 2019 Notes. The Company redeemed the remaining approximately $166.5 million principal amount of the 2019 Notes at a redemption price of approximately $1,038 per $1,000 principal amount of notes (plus accrued and unpaid interest to the redemption date) with a portion of the cash proceeds from the Sale Transaction.

In connection with the Sale Transaction, the Company repaid all the outstanding indebtedness (being approximately $230 million) under its prior $350 million revolving credit facility. In addition, all of the Fox Drilling indebtedness will be retired. The Company has entered into a new $100 million secured revolving credit facility with a Canadian chartered bank, which facility will be undrawn except for approximately $30 million of outstanding letters of credit following all such transactions.

About Paramount

Paramount is an independent, publicly traded, Canadian corporation that explores for and develops conventional petroleum and natural gas prospects, pursues longer-term non-conventional exploration and pre-development projects and holds investments in other entities. The Company’s properties are primarily located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 18, 2016) – Advantage Lithium Corp. (the “Company” or “Advantage Lithium“) (TSX VENTURE:AAL.H) is pleased to announce that, further to the Company’s news release of June 20^th 2016, the Company has received conditional acceptance from the TSX Venture Exchange (the “Exchange“) regarding the Company’s option agreement with Nevada Sunrise Gold Corporation (“Nevada Sunrise“) to acquire an interest of up to 70% in three Nevada lithium projects, 50% in two Nevada lithium projects and 100% of certain water rights. The Company has completed a binding agreement with Nevada Sunrise in respect of the option.

The Company has filed its final Filing Statement and its Technical Report on the Jackson Wash property, on SEDAR. The Company will now proceed with meeting the Exchange’s remaining conditions including finalizing all escrow agreements and closing the previously announced private placement. Final closing of the transaction with Nevada Sunrise Gold Corporation is scheduled for on or about August 26, 2016.

David Sidoo, President and Director, of Advantage Lithium, commented, “We are pleased to have this approval in place. Four of the five lithium brine projects are drill-ready, including Clayton NE, which is immediately adjacent to Albemarle’s lithium producing project of Silver Peak. Importantly, the certificated water rights we will be acquiring also pertain to the Clayton Valley. With drilling at Clayton NE planned for late September, and our continued progress in evaluating other strategic assets internationally, it is clear we are entering an exciting time for the Company.”

About Advantage Lithium Corp.

Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “AAL.H”.

ADVANTAGE LITHIUM CORP.

Nick DeMare, Corporate Secretary

Cautionary Statement:

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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 Advantage Lithium 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 Advantage Lithium 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

KELOWNA, BRITISH COLUMBIA–(Marketwired – Aug. 18, 2016) – FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) (“Fission” or “the Company“) is pleased to announce results from the summer drill program for the final 8 drill holes on the R840W zone at its PLS property, host to the Triple R deposit, in Canada’s Athabasca Basin region. Of key importance, drilling has successfully merged the R600W and R840W zones. The new high-grade, shallow and land-based R840W zone has a strike length of 465m and is 495m west of the R00E zone of the Triple R deposit. In addition, drilling on the western region of the R840W zone has expanded mineralization a further 60m to the west from this past winter – increasing the strike length of the mineralized Patterson Lake trend at PLS to 2.63km

Zone Growth Drilling Highlights

• Land-based, high-grade zones merged
  • Hole PLS16-512 (line 765W), which intersected 56.0m of shallow continuous mineralization, including 6.45m total composite of >10,000 cps, has merged the R600W and R840W zones
  • New R840W zone has strike length of 465m
• High-grade R1620E zone growth and narrowed gap with Triple R deposit
  • R1620E zone is shallow, high-grade and 225m in strike length
  • Substantially increased length of high-grade mineralized core
• Latest drill results include new, wide, high-grade mineralization –
  • PLS16-512 (line 765W)
    • 56.0m continuous mineralization (107.5m – 163.5m), including
    • 6.45m of total composite >10,000 cps
  • PLS16-504 (line 915W)
    • 37.5m total composite mineralization (146.0m – 216.0m), including
    • 6.15m of total composite >10,000 cps

Ross McElroy, President, COO, and Chief Geologist for Fission, commented

“We have achieved all of our key goals for drilling on the recently discovered R840W and R1620E zones this summer, and in so doing have merged the R600W and the R840W into a single zone (R840W) with a strike length of approximately 465m. This zone remains open. In addition, the R840W zone expanded to the west and now the mineralized PLS trend has grown to an even larger strike length of 2.63km – the largest mineralized trend in the Athabasca Basin region. Just as importantly, the width and strength of the new drill holes at both ends of the trend are impressive and drilling has indicated that the trend is still open. With these results, we remain on target to update our resource estimate during 2017.”

R840W

R840W and R1620E Zone Summary

R1620E Zone

Prior to the discovery of high-grade mineralization during the winter 2016 program, 10 drill holes had identified the R1620E as an area of interest. To date, 24 holes have been drilled in the R1620E area, seven of which were completed during the summer 2016 program. The R1620E zone is shallow depth, starting at less than 60m below surface and has been traced confidently over a strike length of 165m. Anomalous results on line 1395E suggest this strike length may possibly extend another 60m or more to the west. A high-grade core has been traced over 95m. The zone remains open along strike and at depth. The R1620E zone is located 195m east and along strike of the R780E zone.

R840W Zone

The shallow depth R840W zone was discovered during the winter 2016 program in which seven holes defined a strike length of 135m. At that time, a gap of 120m separated the R600W from the R840W. Fifteen additional holes were drilled during the summer 2016 program. Importantly, hole PLS16-512 drilled on line 765W, between the R840W and R600W, was well mineralized and illuminates a link between these 2 zones. With this successful result, the R600W has now merged into the R840W zone and the R840W zone is now defined over a strike length of 465m. The R840W is located 495m to the west and along strike of the R00E zone.

PLS Mineralized Trend & Triple R Deposit Summary

Uranium mineralization at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling approximately 2.63km of east-west strike length in four separated mineralized “zones”. From west to east, these zones are: R840W, R00E, R780E and R1620E. Thus far only the R00E and R780E have been included in the Triple R deposit resource estimate.

The discovery hole of what is now referred to as the Triple R uranium deposit was announced on November 05, 2012 with drill hole PLS12-022, from what is considered part of the R00E zone. Through successful exploration programs completed to date, it has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit.

The Triple R deposit consists of the R00E zone on the western side and the much larger R780E zone further on strike to the east. Within the deposit, the R00E and R780E zones have an overall combined strike length validated by a resource estimate of approximately 1.05km with the R00E measuring approximately 105m in strike length and the R780E zones measuring approximately 945m in strike length. A 225m gap separates the R00E zone to the west and the R780E zones to the east, though sporadic narrow, weakly mineralized intervals from drill holes within this gap suggest the potential for further significant mineralization in this area. The R780E zone is located beneath Patterson Lake which is approximately six metres deep in the area of the deposit. The entire Triple R deposit is covered by approximately 50m to 60m of overburden.

Mineralization remains open along strike both to the western and eastern extents. Previous logging of drill core interpreted sequences of basement rocks to be meta-sedimentary (meta-pelitic and meta-semi-pelitic gneiss) but recent observations have changed this interpretation to represent varying degrees of altered mafic volcanic rocks. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are, associated with the PL-3B basement Electro-Magnetic (EM) Conductor. Recent very positive drill results returning wide and strongly mineralized intersections from the R840W zone, has allowed interpretation to merge the previously described R600W zone into the R840W zone. The R840W zone, located 495m to the west along strike of the Triple R deposit, currently has a defined strike length of 465m and is still open. Drill results within the R840W zone have significantly upgraded the prospectivity of these areas for further growth of the PLS resource on land to the west of the Triple R deposit. The recently discovered high-grade mineralization in the R1620E zone, located 270m to the east along strike has significantly upgraded the prospectivity for further growth of the PLS resource to the east of the Triple R deposit.

Updated maps and files can be found on the Company’s website at http://fissionuranium.com/project/pls/.

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., President and COO 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, President and COO

Cautionary Statement:

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.

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 17, 2016) – Canterra Minerals Corporation (TSX VENTURE:CTM) (the “Company” or “Canterra”) is pleased to announce that it has signed a property agreement with CanAlaska Uranium Ltd. (TSX VENTURE:CVV) (“CanAlaska”) to acquire up to a 70% interest in the West Carswell property (the “Property”) located in the western Athabasca Basin, Saskatchewan. The company also announces the commencement of a detailed 1,770 line kilometer (“km”) airborne magnetic survey over the Property.

The West Carswell property comprises approximately 44,000 hectares within the west Athabasca Kimberlite trend and is located 20 km southwest of De Beers’ / CanAlaska’s Athabasca Diamond Project. The Property encompasses six discrete magnetic anomalies derived from a survey flown in 2011 for the Saskatchewan Geological Survey. These six targets exhibit discrete magnetic lows and are characteristic of magnetic features, thought to be kimberlite pipes, intruding into the thick Athabasca sandstone sequence.

Randy Turner, President and CEO of Canterra stated, “We are excited to be working with CanAlaska. CanAlaska has been innovative in their approach to diamond exploration and identified many new targets within northwestern Saskatchewan; a region we believe has the potential to host a new Canadian kimberlite field.”

Peter Dasler, President and CEO of CanAlaska stated, “We are very pleased to be working with Canterra, and to be able to use their considerable expertise in diamonds. This is a very interesting group of magnetic targets close to existing infrastructure.”

Pursuant to the agreement, the Company can acquire a 50% interest in the Property by making staged cash payments totaling $100,000 ($30,000 upon closing), the issuance of 2,000,000 million shares upon closing and work commitments of $1,000,000 by the third anniversary of the closing. Upon completion of the 50% earn-in, Canterra and CanAlaska will form a Joint Venture with each party maintaining a 50% ownership. Canterra will have the option to acquire an additional 20% ownership for additional cash payment of $100,000, an additional issuance of 1,000,000 shares and incurring a further $4,000,000 within the third anniversary of completion of the initial 50% earn-in. The transaction is subject to approval of the TSX.V.

Bruce Kienlen, P.Geol, Senior Geologist for Canterra is the Qualified Person, as defined by National Instrument 43-101 and has reviewed the technical information in this news release.

About Canterra:
Canterra Minerals is a Canadian resource company specializing in diamond exploration in the Northwest Territories, strategically located between the Snap Lake Diamond Mine and the Gahcho Kué Diamond Project. The Company also maintains a 33% interest in the Buffalo Hills Diamond Project in Alberta and has recently acquired an option to earn 70% in the West Carswell property in Saskatchewan. As leaders of exploration in the junior diamond sector for over 25 years, the Canterra team has been involved in the discovery of two of Canada’s four diamond mines, the Snap Lake Diamond Mine in the South Slave and the Ekati Diamond Mine in Lac de Gras. Location maps can be found on the Company’s website www.canterraminerals.com.

About CanAlaska:
CanAlaska Uranium Ltd. holds interests in approximately 500,000 hectares (1.2 million acres), one of the largest land positions in Canada’s Athabasca Basin region – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings has attracted major international mining companies Cameco, Denison, KORES, KEPCO, and the De Beers Group of Companies. CanAlaska is a project generator and is positioned for discovery success in the world’s richest uranium district. For further information visit www.canalaska.com.

CANTERRA MINERALS CORPORATION

Randy Turner, President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

TORONTO, ONTARIO–(Marketwired – Aug. 15, 2016) – Rodinia Lithium Inc. (TSX VENTURE:RM) (“Rodinia” or the “Company”) is pleased to announce that at its annual and special meeting of common shareholders held on August 11, 2016, the common shareholders approved all matters put before them, including: (i) the change of business from a junior resource issuer to an investment issuer (the “COB”); (ii) the consolidation of the common shares in the capital of Rodinia on the basis of one post-consolidation common share for up to ten pre-consolidation common shares (the “Consolidation”); and (iii) the change of name of the Company to “Routemaster Capital Inc.” (the “Name Change”). The COB was approved by 95% of votes cast by disinterested common shareholders, the Consolidation was approved by 93% of votes cast by common shareholders and the Name Change was approved by 95% of the votes cast by common shareholders.

The common shareholders also elected each of the three management nominees as a director of the Company for the ensuing year. The directors are:

• Fred Leigh
• Julian Bharti
• Tito Gandhi

The common shareholders also re-approved the Company’s stock option plan (the “Option Plan”) in accordance with the requirements of the TSXV Venture Exchange (“TSXV”). The COB, Consolidation, Name Change and the Option Plan are each subject to the final approval by the TSXV.

Other Information

Completion of the COB is subject to a number of conditions, including TSXV acceptance. There can be no assurance that the COB will be completed as proposed or at all.

The TSXV has in no way passed upon the merits of the COB and has neither approved nor disapproved the contents of this press release.

About Rodinia Lithium Inc.:

Rodinia Lithium Inc. is a Canadian mineral exploration and development company.

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements, including statements regarding the COB, the Consolidation, the Name Change and the TSXV granting approval of the COB, Consolidation, Name Change and Option Plan. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

TORONTO, ONTARIO–(Marketwired – Aug. 16, 2016) – Denison Mines Corp. (“Denison” or the “Company”) (TSX:DML)(NYSE MKT:DNN) is pleased to announce that Skyharbour Resources Ltd. (TSX VENTURE:SYH) (“Skyharbour”) has issued 4,500,000 common shares to Denison, further to Denison’s press release on July 14, 2016 announcing the execution of an agreement with Skyharbour granting Skyharbour an option to acquire a 100% interest in Denison’s wholly owned Moore Lake uranium exploration property (“Transaction”). The common shares of Skyharbour received by Denison under the Transaction have an approximate value of $1,620,000 (or $0.36 per share) based on the closing price of Skyharbour’s common shares on August 15, 2016.

In order to acquire a 100% interest in the Moore Lake property, Skyharbour must also pay Denison staged cash payments of $500,000, in aggregate, over the next five years, and spend $3,500,000 in exploration expenditures on the Moore Lake property, over the next five years. Under the terms of the Transaction, Denison maintains various back-in rights on the property and has the right to nominate one director to the Skyharbour board of directors, provided Denison holds at least 5% of the issued and outstanding common shares of Skyharbour. All amounts in this release are stated in Canadian dollars.

The number of shares issued to Denison was adjusted from the initially agreed 18,000,000 common shares as a result of Skyharbour’s recently completed share consolidation. Taken together with Denison’s previous share position in Skyharbour, Denison currently holds 5,000,000 common shares of Skyharbour. Denison’s current position represents approximately 11.37% of Skyharbour’s total issued and outstanding common shares.

Denison has acquired the shares of Skyharbour for investment purposes and may from time to time increase or decrease its investment in Skyharbour depending upon the business and prospects of Skyharbour and depending upon future market conditions. Denison received the Skyharbour common shares in reliance on the exemption in section 2.12 of National Instrument 45-106.

An early warning report will be filed by Denison in accordance with applicable securities laws and will be available on SEDAR at www.sedar.com or directly from Denison.

About Denison

Denison is a uranium development and exploration company focused in the infrastructure rich eastern portion of the Athabasca Basin region in northern Saskatchewan, Canada. Highlighted by its 60% owned Wheeler River development project, which hosts the high grade Gryphon and Phoenix uranium deposits, Denison’s project portfolio covers over 350,000 hectares and includes a 22.5% interest in the McClean Lake uranium mill, which is permitted for annual production of up to 24 million pounds U₃O₈ and is currently processing ore from the Cigar Lake mine under a toll milling agreement. Denison’s interests in the eastern Athabasca Basin also include a 61.55% interest in the J Zone deposit on the Waterbury Lake property, a 25.17% interest in the Midwest deposit, and a 22.5% interest in the McClean lake uranium deposits – all of which are located within 20 kilometres of the McClean Lake mill.

Denison is also engaged in mine decommissioning and environmental services through its Denison Environmental Services division and is the manager of Uranium Participation Corp., a publicly traded company which invests in uranium oxide and uranium hexafluoride.

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this press release constitutes “forward-looking information”, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation concerning the business, operations and financial performance and condition of Denison. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “believes”, or the negatives and/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”. In particular, this press release contains forward-looking information pertaining to the following: Denison’s investment in Skyharbour and the deemed value thereof; and the terms of Skyharbour’s acquisition of an interest in the Moore Lake Property.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable but there can be no assurance that such statements will prove to be accurate and may differ materially from those anticipated in this forward looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the “Risk Factors” in Denison’s Annual Information Form dated March 24, 2016 available under its profile at www.sedar.com and in its Form 40-F available at www.sec.gov/edgar.shtml. These factors are not, and should not be construed as being, exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in its expectations except as otherwise required by applicable legislation.