May 30, 2008 – The Board of Directors of Purepoint Uranium Group Inc. (TSX-V:PTU) has approved the issuance of a total of 200,000 options to certain of its senior technical staff pursuant to its stock option plan. The options are exercisable at a price of $0.32, are subject to agreed vesting schedules and expire in five years.
Under Purepoint’s stock option plan there are at present 7,330,803 common shares reserved for issuance, of which only 2,831,000 shares are subject to outstanding option grants.
Purepoint Uranium Group Inc. is focused on the precision exploration of 37 defined target areas on nine100% owned projects in the Canadian Athabasca Basin and eight target areas hosted within two Basin projects joint ventured with Cameco Corporation and AREVA Resources Canada Inc. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing this large portfolio of multiple drill targets in the world’s richest uranium region.
For further information please contact:
Chris Frostad, President and CEO
Purepoint Uranium Group Inc.
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