January 11 2007 – The Board of Directors of Purepoint Uranium Group Inc. (TSX-V:PTU) has today approved the issuance of a total of 1,800,000 options to members of its Board of Directors and certain senior officers pursuant to its stock option plan. The options are exercisable at a price of $0.90, are subject to agreed vesting schedules and expire in five years.
Under Purepoint’s stock option plan there are at present 6,166,808 common shares reserved for issuance, of which only 2,766,667 shares are subject to outstanding option grants.
Purepoint Uranium Group Inc. is focused on the precision exploration of seven 100% owned multiple target properties in the Canadian Athabasca Basin. Established in the Basin well before the current resurgence in uranium, Purepoint is actively advancing that large portfolio of drill targets in the world’s richest uranium region.