October 22 2007 – FOR IMMEDIATE RELEASE
Purepoint Uranium Group Inc. (TSX-V:PTU) announced today that RYM Capital Corp. has been delisted by the TSX-V and accordingly the option agreement announced in a press release on September 13, 2007 has expired. That option would have allowed RYM to acquire a joint venture interest in Purepoint’s Fire Eye and William River uranium projects in Canada’s Athabasca Basin.
“Purepoint remains of the view that the Fire Eye and William River projects are highly significant and valuable assets” said Chris Frostad, President & Chief Executive Officer of Purepoint Uranium Group Inc. “The Company has recently completed an additional airborne survey of the William River property and will continue to evaluate a number of alternatives for the ongoing exploration and financing of both projects in 2008.”
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of more than 42 defined target areas on its nine projects in the Canadian Athabasca Basin, including its two Basin projects joint ventured with Cameco Corporation and AREVA Resources Canada Inc. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing this large portfolio of multiple drill targets in the world’s richest uranium region.
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
(416) 603-8368
