January 22 2005 – Purepoint Uranium Corporation is pleased to announce that the Company has now completed its staking program in the Athabasca Basin of northern Saskatchewan resulting in a total land position of seven properties covering nearly 120,000 hectares.
“We are extremely pleased with the unique histories of each of our properties and our ability to leverage the enormous amount of exploration work that has occurred in this region over the past 30 years,” said Chris Frostad, President and CEO, Purepoint Uranium Corporation. “By applying new technologies and a more current understanding of the Basin’s geology to this already available data, we can very efficiently target specific areas of interest.”
It has been a particularly busy year in this uranium rich region of the world fueled by predicted supply shortages and a rapid increase in the spot price of uranium, now standing at nearly US$21.00 per lb. According to Saskatchewan Industry & Resources the amount of property held under mineral disposition in the northern region of the province is more than twice that held a year ago.
Exploration will commence on Purepoint’s Turnor Lake property almost immediately as the company focuses on advancing that project quickly in the coming year.
Purepoint Uranium Corporation is a uranium exploration company driven by intellectual, precision prospecting focusing on distinct, targeted properties with historic significance in the Canadian Athabasca Basin. Currently, Purepoint’s seven Athabasca Basin uranium projects cover 120,000 hectares and are considered high prospect properties that include several near term targets expected to be drill ready for winter 2005/06.