May 2 2006 – Purepoint Uranium Group Inc. (TSX-V:PTU) has now released its audited
financial statements for the year ended December 31, 2005.
Highlights:
- Cash available for exploration at December 31, 2005 – $5,670,000
- 2006 exploration budget – $5,500,000
- Common shares outstanding at December 31, 2005 – 49,755,556
- Fully diluted common shares outstanding at December 31, 2005 – 60,055,556
Purepoint’s incurred $1,207,974 in exploration expenditures on its properties during the year
ended December 31, 2005 compared to $147,426 during the year ended December 31, 2004.
“We are very pleased with our first year as a public company,” said Chris Frostad, President & CEO, Purepoint Uranium Group Inc. “As demonstrated by the exploration results announced in the past few weeks, I believe that our shareholders will continue to see exceptional value on their
investment.”
Purepoint’s 2005 audited financial statements can be viewed on Sedar or at http://www.purepoint.ca/investors/financials.php.
Purepoint Uranium Group Inc. is a uranium focused exploration company with 100 percent ownership of over 250,000 hectares in the Canadian Athabasca Basin. Established in the Basin before the resurgence in uranium, Purepoint is now actively advancing seven key properties of historic significance.
