Toronto, Ontario – October 15, 2012 – At the request of the TSX Venture Exchange (the “Exchange”), the Board of Directors of Purepoint Uranium Group Inc.(TSX-V:PTU) has increased the exercise price of 3,000,000 stock options granted to certain Directors, management and staff pursuant to its stock option plan from $0.09 to $0.10.
The exercise price of the options granted May 26, 2010 was set below the threshold allowed under the requirements of Exchange Policy 4.4 “Incentive Stock Options”.
The change in exercise price does not effect any expiry dates or vesting provisions as originally granted.
Purepoint Uranium Group Inc. is focused on the precision exploration of its eleven projects in the Canadian Athabasca Basin. Purepoint proudly maintains project ventures in the Basin with the three largest uranium producers in the world, Cameco Corporation, AREVA and Rio Tinto. Established in the Athabasca Basin well before the initial resurgence in uranium earlier last decade, Purepoint is actively advancing a large portfolio of multiple drill targets in the world’s richest uranium region.
For further information please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”