Loewen, Ondaatje, McCutcheon Limited Issue Initiating Report



January 29 2007 – Purepoint Uranium Group Inc. (TSX:PTU.V) is pleased to announce that Loewen, Ondaatje, McCutcheon Limited has issued an initiating report on the company.

Analysts, Peter Campbell, PEng. and Jay Hodgson PhD stated “We believe that Purepoint represents one of the most promising early-stage uranium exploration companies in the Athabasca Basin. A robust investment case for Purepoint can be made on the basis of its land holdings in parts of the Basin with the greatest potential for significant new discoveries; the quality and experience of the exploration and business professionals in management; and, the strong fundamentals of the global uranium market.”

Two weeks ago Blackmont Capital also initiated coverage of Purepoint. Copies of both reports can be obtained at www.purepoint.ca.

About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of its eight highly prospective projects in the Canadian Athabasca Basin. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing its large portfolio of multiple drill targets in the world’s richest uranium region.