Fission Uranium
Fission Uranium Corp. was a Canadian uranium exploration and development company focused on the Patterson Lake South project and Triple R deposit in Saskatchewan's Athabasca Basin, acquired by Paladin Energy in December 2024 for C$1.14 billion.
- Company typePublic
- Founded2011
- HeadquartersKelowna, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Fission Uranium does
Fission Uranium Corp. was a Canadian uranium exploration and development company headquartered in Saskatoon, Saskatchewan, focused on the Patterson Lake South (PLS) project in the Athabasca Basin. Its core asset, the Triple R deposit, hosts 93.7Mlb U3O8 of Probable Mineral Reserve at 1.41% grade, with mineralization starting approximately 50m from surface. The project targets roughly 9Mlb per year of U3O8 production over a 10-year mine life at a planned 1,000tpd processing rate, using conventional hard-rock underground mining methods and a processing flowsheet modeled on existing Athabasca Basin uranium operations.
The company's business model was pre-revenue and centered on advancing PLS through exploration, feasibility, permitting, and ultimately mine construction, with future revenue intended to come from uranium concentrate (U3O8) sales to nuclear power utilities through long-term offtake agreements and spot market transactions. The company was 100% exposed to uranium market pricing. Between 2023 and early 2024, Fission executed three bought-deal financings totaling over C$92 million to fund exploration and development, signed Mutual Benefits Agreements with the Clearwater River Dene Nation and Buffalo River Dene Nation, released a feasibility study in April 2024, and secured Saskatchewan Ministerial Environmental Impact Statement approval in February 2026. In December 2024, Fission was acquired by Paladin Energy Ltd for approximately C$1.14 billion and renamed "Paladin Canada," becoming a wholly-owned subsidiary within Paladin's diversified uranium production portfolio spanning Namibia, Canada, and Australia.
Fission Uranium firmographics
Firmographics- Name
- Fission Uranium
- Legal name
- Fission Uranium Corp.
- Website
- https://fissionuranium.com
- Company type
- Public
- Founded year
- 2011
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- Fission Uranium Corp. was a Canadian uranium exploration and development company focused on the Patterson Lake South project and Triple R deposit in Saskatchewan's Athabasca Basin, acquired by Paladin Energy in December 2024 for C$1.14 billion.
- Ownership category
- akta.pro rank
Fission Uranium industry classification
Industry- Product category
- Uranium Mining
- NAICS
- Other Metal Ore Mining (21229)
- SIC
- Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Uranium Exploration & Resource Development (EUAKACAA)
- akta.pro secondary industry
- Nuclear Fuel Cycle for Power Generation (Uranium, Conversion, Enrichment, Fuel Fabrication) (EUACADAK)
Keywords
Where Fission Uranium is headquartered
LocationHeadquarters
- HQ city
- Kelowna
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Fission Uranium business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Others
Revenue model
- Uranium Production and Sales: Once in production, the company generates revenue from the sale of uranium concentrate (U3O8) to nuclear utilities under long-term offtake agreements and spot market sales. The PLS project targets approximately 9Mlb per year U3O8 production over a 10-year mine life.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Fission Uranium product offering
Product offeringCore offering
Fission Uranium Corp. is a uranium exploration and development company focused on acquiring and advancing the Patterson Lake South (PLS) project in Saskatchewan's Athabasca Basin. The flagship Triple R deposit contains 93.7Mlb U3O8 of Probable Mineral Reserve at 1.41% grade, hosted in basement rock starting just 50m from surface, with a target production of approximately 9Mlb per year U3O8 over a 10-year mine life using conventional underground mining methods.
Product overview
Fission Uranium Corp. was acquired by Paladin Energy Ltd. in December 2024 and renamed Paladin Canada. The company's product portfolio centers on the Patterson Lake South (PLS) Project, an advanced uranium development project in Saskatchewan's Athabasca Basin. PLS hosts the high-grade Triple R deposit with 93.7Mlb U3O8 probable reserves at 1.41% U3O8, featuring shallow mineralization starting 50m from surface. The project targets approximately 9Mlb per year uranium production over a 10-year mine life using conventional underground mining methods and a 1,000tpd processing rate. The portfolio also includes the Michelin Project and early-stage exploration assets across the Athabasca Basin.
Differentiator
Problem solved
Functional benefit
Products and services
- Patterson Lake South (PLS) Project
- Michelin Project Uranium project in Canada, part of Paladin Canada's portfolio of advanced-stage uranium development assets in Saskatchewan.
- Athabasca Basin Early-Stage Exploration
Quantifiable outcome
- 93.7Mlb U3O8 Probable Mineral Reserve at 1.41% grade
- +2 more outcomes
Companies that use Fission Uranium
Customer profileSegments1 record
Ideal customer profiles1 record
Fission Uranium technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Fission Uranium partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered flagship and core.
- Paladin Energy LtdflagshipPaladin Energy acquired Fission Uranium Corp. in December 2024 for C$1.14 billion. Fission was renamed Paladin Canada. The acquisition positioned Paladin as a diversified uranium producer with assets in Namibia, Canada, and Australia.
- Clearwater River Dene Nation (CRDN)coreMutual Benefits Agreement signed covering collaboration throughout the project life from development to decommissioning and reclamation. Agreement establishes framework for working together on the Patterson Lake South project.
- Buffalo River Dene Nation (BRDN)coreMutual Benefits Agreement signed covering collaboration throughout the project life from development to decommissioning and reclamation. Agreement establishes framework for working together on the Patterson Lake South project.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Fission Uranium competitors and assessment
Company assessmentDirect peers
- NexGen Energy: NexGen Energy is a direct peer advancing the Rook I/Arrow high-grade uranium project in the southwestern Athabasca Basin, Saskatchewan, with a comparable resource scale and end-market exposure to U3O8 production for nuclear utilities.
- Denison Mines: Denison Mines is a direct Athabasca Basin uranium developer with the Wheeler River project, sharing the same Saskatchewan jurisdiction, uranium commodity exposure, and pre-construction development profile as Fission.
Broad incumbents
- Cameco Corporation: Cameco is the world's largest pure-play uranium producer and a broad incumbent operating multiple producing Athabasca Basin mines (Cigar Lake, McArthur River), with similar customer base of nuclear utilities but at a much larger, diversified scale.
- Uranium Energy Corp: Uranium Energy Corp is a broad incumbent U.S.-listed uranium producer and developer with ISR-focused assets across the Americas, sharing the same U3O8 commodity and nuclear utility customer base but operating outside the Athabasca Basin.
- Energy Fuels: Energy Fuels is a U.S.-based uranium and rare earths producer with conventional mill assets, broadly comparable as a North American uranium miner serving nuclear utilities but operating in different jurisdictions and with diversified commodity exposure.
- Paladin Energy: Paladin Energy is the parent company that acquired Fission Uranium in December 2024; as a diversified uranium producer with the Langer Heinrich mine in Namibia and Australian exploration assets, it is the natural reference for PLS within a multi-asset uranium portfolio.
Emerging players
- IsoEnergy: IsoEnergy is an emerging Athabasca Basin uranium developer focused on the Hurricane zone at the Larocque East project, sharing the same Saskatchewan uranium exploration and development thesis as Fission but at an earlier stage.
- Skyharbour Resources: Skyharbour Resources is an emerging uranium exploration company with a portfolio of Athabasca Basin projects, directly comparable as a junior uranium developer in the same premier jurisdiction but with a less advanced flagship asset.
- Fission 3.0 Corp: Fission 3.0 is an early-stage uranium exploration company founded by members of the original Fission Uranium team, sharing the same Athabasca Basin focus but at an earlier exploration stage without an advanced project comparable to PLS.
- Baselode Energy: Baselode Energy is an early-stage uranium exploration company with Athabasca Basin assets, providing a comparable junior developer reference though at materially smaller scale and earlier stage than PLS.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Fission Uranium social profiles
Digital presenceFission Uranium financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fission Uranium leadership team
Management profileNumber of profiles
Fission Uranium funding detail
Funding detailFunding overview
Funding rounds7 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fission Uranium M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fission Uranium
What does Fission Uranium do?
Fission Uranium Corp. is a uranium exploration and development company focused on acquiring and advancing the Patterson Lake South (PLS) project in Saskatchewan's Athabasca Basin. The flagship Triple R deposit contains 93.7Mlb U3O8 of Probable Mineral Reserve at 1.41% grade, hosted in basement rock starting just 50m from surface, with a target production of approximately 9Mlb per year U3O8 over a 10-year mine life using conventional underground mining methods.
Is Fission Uranium a public or private company?
Fission Uranium is a public company. It is classified as corporate owned and is currently acquired.
When was Fission Uranium founded?
Fission Uranium was founded in 2011. It employs 11 to 50 people.
Where is Fission Uranium based?
Fission Uranium is headquartered in Kelowna, Canada, in the North America region.
How does Fission Uranium make money?
One revenue line is on record: uranium Production and Sales.
Who are Fission Uranium's main competitors?
Direct peers on record are NexGen Energy and Denison Mines. Broad incumbents are Cameco Corporation, Uranium Energy Corp, Energy Fuels and Paladin Energy. Emerging players are IsoEnergy, Skyharbour Resources, Fission 3.0 Corp and Baselode Energy.
Does Fission Uranium have an API?
No public API is recorded for Fission Uranium.
What industry is Fission Uranium in?
Fission Uranium's product category is Uranium Mining. Its primary akta.pro industry code is EUAKACAA, Uranium Exploration & Resource Development, with a secondary code of EUACADAK, Nuclear Fuel Cycle for Power Generation (Uranium, Conversion, Enrichment, Fuel Fabrication). Its NAICS code is 21229 and its SIC code is 1090.