CONICO LTD — AGM Information 2007

Nov 25, 2007

Fission Energy Ltd

Uranium Explorer

Presentation to AGM

23[rd] November 2007

Overview

• Uranium exploration rights to Tasman Resources

• extensive tenement portfolio on Gawler Craton, South Australia

• Granted tenements in well endowed uranium province

• South Australian Government strongly supportive of uranium exploration and mining

• Experienced technical team:

4 senior geologists - 100 man years combined exploration experience including 30 years in uranium exploration and mining

Project Locations

South Australia & Western Australia

Project Summary

South Australia

• Wynbring palaeochannel (+40km) with downhole radiometric anomalies

• Garford palaeochannel (>150km) untested

• Parkinson Dam - palaeochannels (Frasers Prospect) - uraninite occurrence, unconformity model – Jabiluka, Ranger, Nabarlek

• Western Australia

• 8 ELA’s – anomalous radiometrics /palaeodrainage

• 1 ELA – known uranium occurrence within Kintyre uranium province (Rudall National Park)

South Australia Project Locations

Gawler Craton: •Wynbring

• Garford • Parkinson Dam • Lake Torrens

Wynbring and Garford Palaeochannel Locations

Wynbring Palaeochannel Uranium Project

• +40km of palaeochannels prospective for roll front style uranium mineralisation

• Granitic basement (uranium source rock)

• Warrior uranium deposit 15km to SE

• Significant radiometric anomalies in 1980’s drilling at southern end of Tasman EL

• Anomalous uranium in groundwater

• 95% of palaeochannel untested

• Drilling to commence next week, follow up early 2008

Wynbring Palaeochannel Interpretation

Wynbring PNC Drill Hole Cross Section

• Garford Palaeochannel Uranium Project

• • +80km of uranium-prospective Tertiary palaeochannel

• • +70km of deeper Mesozoic and Permian uranium-

• prospective palaeochannels outlined in EM survey • Completely unexplored for uranium

• All permitting now completed, drilling early 2008

Garford EM (Tempest) Results

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3712
Interpreted Garford
Palaeochannel
40m CDI
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Garford Conductivity Cross Section showing older Palaeochannels

70m CDI

Mesozoic-Permian Palaeochannel Interpreted Permian Trough

Garford Palaeochannel Predictive Cross Section

Parkinson Dam

Frasers Prospect Unconformity Uraninite Occurrence

• Outcropping uraninite located - unconformity model applicable eg. Ranger/Jabiluka • Limited drilling confirmed headwaters of possible palaeochannel system in northwest (Frasers Prospect) • Potential uranium source is extensive, outcropping Gawler Range Volcanics

Fission’s New Downhole Gamma Logging System

Western Australia Projects

9 EL Applications:

• 7 on calcrete/playa lake

• radiometric anomalies (Barlee - Perseverance)

• •Buried palaeodrainage (Ponton Creek)

• Unconformity style target &

• uranium occurrence 40km East of Kintyre (Mt Sears Range)

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Lake
Barlee
Lake Noondie
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Yilgarn Block Project Locations

Covering lakes and palaeodrainages developed on high uranium background Archaean granitic basement

Ponton Creek

Perseverance ELA Radiometric (uranium) anomalies over buried calcrete drainage channel?

Elvire & Elvire South ELA’s

Uranium Radiometric Anomalies - Lake Barlee

Mt Sears Range ELA