The first three holes of a seven-hole first pass wide-scale regional exploration drill program found encouraging results with characteristics of fertile systems that have the potential to host high-grade uranium mineralization.

It also includes graphitic metapelitic basement lithology, structural disruptions and indications of localized hydrothermal alteration system.

Hole CWW15-003 intersected four discrete narrow intervals of anomalous radioactivity with a maximum peak of 410 cps over 0.5m at 194.5m to 195m between the depths of 109.5m and 195.0m.

Fission 3.0 COO and chief geologist Ross McElroy said: "This is an exciting start to the drill program because results confirm highly prospective geology and even anomalous radioactivity (CWW15-003). This has significantly increased our confidence in the potential of the Clearwater West project."

Fission 3 operates and currently owns a 100% interest in Clearwater West. Canex Energy has entered into a three-year option to buy up to a 50% stake in the property.

Canex plans to invest $5,000,000 of staged exploration expenditures on or before 10 October 2016.