Toronto, Ontario – August 11, 2016 – Purepoint Uranium Group Inc. (the “Company” or “Purepoint”) (TSX:PTU.V) is issuing this press release in response to recent market speculation and increased trading volumes and market price in its shares. The Company is not aware of any developments that would merit such trading activities other than the discovery announced by NexGen Energy Ltd.(“NexGen”) this morning in respect of a new high grade zone of uranium mineralization located approximately 150 metres from the Hook Lake JV claim line and approximately 300 metres SSW of the Hook Lake JV’s Spitfire mineralization. For more information, please refer to the press release of NexGen filed today on SEDAR at www.sedar.com.
Management is watching the trading activities closely and will provide further updates as circumstances warrant.
Purepoint Uranium Group Inc. is focused on the precision exploration of its seven projects in theCanadianAthabascaBasin. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium producers in the world, Cameco Corporation and AREVA Resources Canada Inc. Established in theAthabascaBasinwell 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.
Scott Frostad BSc, MASc, PGeo, Purepoint’s Vice President, Exploration, is the Qualified Person responsible for technical content of this release. Mr. Frostad has supervised the preparation of and approved the scientific and technical disclosure in this news release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO