Athabasca Basin Uranium Exploration - Saskatchewan, Canada
Purepoint Uranium Group Inc. is a Canadian uranium exploration company operating in the Athabasca Basin of northern Saskatchewan - the source of some of the world's highest-grade uranium deposits. Purepoint manages a portfolio of joint venture projects alongside Cameco Corporation, Orano Canada Inc., IsoEnergy Ltd., and Foran Mining Corporation, across more than 217,000 hectares of mineral claims.
Purepoint Uranium Group Inc. (TSXV: PTU | OTCQB: PTUUF) was incorporated in 2002 and is headquartered in Toronto, ON, with the operations office in Saskatoon, SK. The Company focuses exclusively on uranium exploration within the Athabasca Basin of northern Saskatchewan, Canada - a jurisdiction recognized as the source of the world's highest-grade uranium deposits, including Cameco Corporation's McArthur River and Cigar Lake mines.
Over more than two decades of continuous operations, Purepoint has assembled a substantial dataset of geological interpretations, geophysical surveys, and drill results across the basin. This institutional knowledge base informs the Company's ongoing target generation and joint venture management activities.
Purepoint operates as manager and operator across its active joint venture projects. Under this structure, the Company provides geological expertise, exploration direction, and day-to-day program management, while JV partners fund a defined share of exploration expenditures. As of Q1 2026, the Company's total portfolio encompasses more than 217,000 hectares of mineral claims in both the eastern and western Athabasca Basin.
The Company's exploration activities are governed by National Instrument 43-101 (NI 43-101), the Canadian Securities Administrators' disclosure standards for mineral projects. All technical information disclosed by Purepoint is reviewed and approved by a Qualified Person (QP) as defined under NI 43-101.
Purepoint's shares are listed on the TSX Venture Exchange under the symbol PTU and trade on the OTCQB Venture Market in the United States under the symbol PTUUF. Continuous disclosure filings are available on SEDAR+ at www.sedarplus.ca.
Exchange
TSXV: PTU
OTC Market
OTCQB: PTUUF
Founded
2002
Headquarters
Toronto, ON
Focus
Uranium Exploration
Jurisdiction
Athabasca Basin, SK, Canada
JV Partners
Cameco, Orano, IsoEnergy, Foran
Portfolio Size
> 217,000 ha
Filings
SEDAR+
Purepoint manages all exploration programs - target generation, drill planning, contractor management, and results reporting - across active JV projects.
JV partners fund the majority of exploration expenditures, reducing the capital burden on Purepoint while enabling large-scale programs in a capital-intensive jurisdiction.
All activity is concentrated in a single, high-grade uranium district. This focus supports a depth of geological knowledge that informs both JV operations and 100%-owned property work.Â
Purepoint’s portfolio spans the eastern and western Athabasca Basin and includes six active joint venture projects as well as five 100%-owned properties. The eastern corridor – represented by the IsoEnergy JV package – is home to the 2025 Nova Discovery at the Dorado Project. The southwestern portfolio, including Hook Lake JV with Cameco and Orano and Smart Lake JV with Cameco, is positioned in the Patterson Uranium District, an area that hosts several significant uranium deposits discovered by other companies.Â
PROJECT
PARTNER (S)
PTU INTEREST
LOCATION & NOTES
Dorado
IsoEnergy Ltd.Â
50%
Eastern Athabasca Basin; site of 2025 Nova Discovery at Q48 target. Part of 98,000+ ha IsoEnergy JV package.
Aurora
IsoEnergy Ltd.Â
50%
Eastern Athabasca Basin corridor. Part of 98,000+ ha IsoEnergy JV package.Â
Celeste Block
IsoEnergy Ltd.Â
50%
Eastern Athabasca Basin corridor. Part of 98,000+ ha IsoEnergy JV package.Â
Hook Lake
Cameco Corp. & Orano Canada Inc.
21%
Patterson Uranium District, SW basin. 28,598 ha across nine mineral claims. Cameco and Orano each hold 39.5%. Purepoint is operator since 2007.
Smart Lake
Cameco Corp.
27%
SW basin, ~18 km west-northwest of Hook Lake JV. Cameco holds 73%. On trend with Patterson Uranium District deposits.
Denare West
Foran Mining Corp.Â
Optioned
VMS target outside of Athabasca Basin proper. 1000%-funded by Foran Mining. Adjacent to McIlvenna Bay Project.Â
100%-owned properties (not subject to JV funding obligations): Tabbernor, Russell South, Henday Lake, Carson Lake, and Tower – all located within the Athabasca Basin. First-pass drilling at Tabbernor was completed in late 2025.Â
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No mineral resource or mineral reserve has been defined on any of Purepoint’s properties unless disclosed in a NI 43-101- compliant technical report filed on SEDAR+.Â
The Nova Discovery is a uranium mineralization discovery made during 2025 drill program at the Q48 target area of the Dorado Project, as part of the 50/50 IsoEnergy - Purepoint joint venture. Mineralization is hosted in a steeply dipping, basement-fault structure below the Athabasca unconformity.
over 0.4mÂ
Hole PG25 — 07A
(highest-grade interval reported)
over 2.1mÂ
Hole PG25Hole PG25 — 07AÂ
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over 4.9mÂ
Hole PG25Hole PG25 — 07AÂ
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Peak downhole radiometric reading
PDAV25 –07A
(Mt. Sopris Probe)
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The 2025 drill program at Dorado was completed with a total of 5,030 metres drilled across 11 holes. Initial assay results from holes PG25-04 and PG25-05 confirmed high-grade uranium mineralization, with PG25-05 returning 1.0 metre grading 2.2% U₃O₈ including 0.3 metres at 5.4% U₃O₈. Hole PG25-07A, a 70-metre step-out to the northeast of PG25-05, intersected the Nova structure approximately 40 metres up-dip of PG25-04 and returned the highest-grade assay interval reported from the zone at the time of disclosure.
The Nova mineralization was interpreted to remain open to the northeast — the direction of increasing radioactivity — as well as along strike and at depth. Wet marsh conditions during the summer of 2025 limited further step-out drilling in that direction.
In December 2025, the joint venture approved a 2026 exploration program. The approved winter program consists of up to 10 kidder-supported drill holes totalling approximately 4,300 metres, with 30- to 50-metre step-outs targeting the corridor between holes PG25-03 and PG25-07A — approximately 800 metres of untested ground. Additional activities planned for 2026 include an airborne magnetotellurics (MT) survey across Dorado to refine deeper structural targets, and a summer helicopter-supported program of approximately 7 holes (3,150 metres) to test broader conductive and structural targets. The summer program is subject to modification based on winter drill results.
NI 43-101 Note: No mineral resource has been defined on the Nova Discovery or any Purepoint property unless explicitly stated in a NI 43-101-compliant technical report filed on SEDAR+. Drill intercepts are reported as downhole core lengths; true widths are unknown. Historical results are not necessarily indicative of future performance.
The following outlines the key considerations that investors and analysts typically evaluate when assessing Purepoint Uranium Group Inc. as a uranium exploration investment. This is not investment advice. Investors should conduct their own due diligence and consult a qualified financial adviser before making investment decisions.
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World’s Highest-Grade Uranium DistrictÂ
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The Athabasca Basin of northern Saskatchewan is the source of some of the world’s highest-grade uranium deposits, including Cameco’s McArthur River and Cigar Lake mines. Purepoint has operated exclusively in this jurisdiction for over 20 years, building geological knowledge and land position in one of the few districts with demonstrated ultra-high-grade unconformity-style and basement-hosted uranium mineralization.
Active High-Grade Discovery at DoradoÂ
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The 2025 Nova Discovery at the Dorado Project returned assay intervals including 8.1% U₃O₈ over 0.4 metres and 1.6% U₃O₈ over 2.1 metres from hole PG25-07A — the highest-grade interval reported from the zone at time of disclosure. The Nova structure remains open to the northeast and at depth. A 2026 follow-up program has been approved. No resource has been defined; drill intercepts are reported as downhole lengths.
Partner-Funded Exploration Model
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Under Purepoint’s joint venture structure, the company’s partners fund the majority of project-level exploration costs. This reduces direct exploration expenditure for Purepoint while enabling larger programs. The company retains operational control as operator across its active JV projects. Investors evaluate this model as a potential means of advancing exploration assets with reduced shareholder dilution from direct project costs.
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JV Relationships with Established Industry Participants
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Purepoint’s JV partners include Cameco Corporation, one of the world’s largest uranium producers; Orano Canada Inc., a major uranium mining company in Saskatchewan; and IsoEnergy Ltd. These companies have committed exploration capital to Purepoint-managed projects. Investors should independently evaluate the significance of these relationships and review all publicly available JV terms.
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Diversified Land Position Across Two Basin Corridors
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Purepoint’s portfolio spans the eastern and southwestern Athabasca Basin, encompassing over 217,000 hectares across JV and 100%-owned properties. The eastern corridor (IsoEnergy JV package: Dorado, Aurora, Celeste — 98,000+ ha) hosts the Nova Discovery. The southwestern corridor (Hook Lake, Smart Lake — in the Patterson Uranium District) is on trend with deposits discovered by other companies. Scale and geographic diversification within a single district may support ongoing target generation.
Experienced Technical and Management Team
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Purepoint is led by founder Chris Frostad (President & CEO) and VP Exploration Scott Frostad, P.Geo., who serves as the company’s Qualified Person under NI 43-101 and holds more than 30 years of industry experience, including at Cameco, Orano Canada (formerly Cogema), Teck, and Placer Dome. CFO Ram Ramachandran brings prior regulatory experience as a former Deputy Director with the Ontario Securities Commission. Continuity of leadership over two decades reflects institutional knowledge of the basin.
Uranium exploration is a high-risk activity. No mineral resource has been defined on Purepoint’s properties. Investors should review all public filings available on SEDAR+ at www.sedarplus.ca, including technical reports and continuous disclosure documents, before making any investment decision. Past drill results are not necessarily indicative of future results.
Purepoint is committed to maintaining a work environment that demands respect for the dignity of each individual regardless of age, race, religion, gender, sexual orientation, disability, or national or ethnic origin and all employees and contract service providers have to adhere to as per its Harrassment Prevention Policy that can be access here.
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Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada.
The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd. Additionally, the Company holds a promising VHMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Mining Corporation’s McIlvenna Bay project.
Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe’s most significant uranium districts.