May 31 2006 – Purepoint Uranium Group Inc. (TSX-V:PTU) has now released its first quarter financial statements for the three months ended March 31, 2005.
- Cash available for exploration at March 31, 2006 – $3,660,000
- Common shares outstanding at March 31, 2006 – 49,874,306
- Fully diluted common shares outstanding at March 31, 2006 – 60,055,556
Purepoint incurred $1,810,053 in exploration expenditures on its properties during the first quarter of the year resulting in highly encouraging drill results at the company’s Turnor Lake project as well as the discovery of a new drill target at its Red Willow project.
“Based on this winter’s progress, we are very confident that our upcoming program will return more promising results,” said Chris Frostad, President & CEO, Purepoint Uranium Group Inc. “We will be advancing all of our projects throughout the summer months including the recommencement of drilling at Turnor Lake.”
Purepoint’s first quarter 2006 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.