CONICO LTD — Capital/Financing Update 2010

Aug 12, 2010

ACN 119 057 457

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

13 August 2010

SALE OF WYNBRING URANIUM PROJECT

Fission Energy Ltd (“Fission”) has sold its uranium rights over Exploration Licence 4526 (formerly 3306) and in the Wynbring Project on the Gawler Craton in South Australia to Marmota Energy Ltd (“Marmota”). Fission has received cash consideration of $350,000.

Tasman has also sold to Marmota its residual interest in EL 4526 and received 500,000 Marmota shares as consideration, escrowed for 12 months.

The consideration to each party is based on the relative exploration expenditures of Tasman and Fission on EL 4526.

Divestment of Wynbring will allow Fission to focus on nickel sulphide exploration and development of the Mt Thirsty Co-Ni oxide project near Norseman in Western Australia.

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Greg Solomon Executive Chairman

Level 40, Exchange Plaza 2 The Esplanade, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5855 Website: www.fissionenergy.com.au