Toronto, Ontario, April 12, 2021 – Purepoint Uranium Group Inc. (TSXV: PTU) (“Purepoint” or the “Company”) today released its exploration schedule for the remainder of the year, focusing on its large portfolio of 100% owned uranium projects strategically located across Canada’s Athabasca Basin; host to the world’s highest grade uranium resources.
“There has been significant investment flowing into uranium companies over the past six months, signaling a potential near-term revival of uranium prices” said Chris Frostad, Purepoint’s President and CEO. “The timing is right for us to return to the exploration projects we initiated over a decade ago. We believe that the investments we make in advancing these projects now will unlock significant value and opportunities over the coming year”.
- Scheduling reflects the anticipated timing of permit applications, the availability of contracted service providers and seasonal weather conditions
- Permits are in place for work at the Company’s Red Willow, Henday and Umfreville projects
- Drilling is scheduled to take place on these projects in Q3 2021
- Additional permit applications are being prepared for the Turnor Lake, Smart Lake, Carson Lake and Russell South projects
- Initial airborne geophysics have been scheduled for this summer on Purepoint’s four Tabbernor Block projects
- Ground electromagnetic and resistivity geophysical surveys are proposed/planned in Q4 2021 at the Smart Lake and Carson Lake projects
- Additional details on each of the Company’s projects will be provided in the coming weeks
“In addition to our work at Hook Lake over the past few years, we have continued to maintain our advanced 100% owned assets while staking additional claims in prospective areas. said Scott Frostad, Vice President Exploration at Purepoint. “The permits we currently have in place will allow us to commence our expanded exploration efforts immediately”.
Purepoint Uranium Group Inc. actively operates an exploration pipeline of 12 advanced projects in Canada’s Athabasca Basin, the world’s richest uranium region. Purepoint’s flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium’s Triple R Deposit and NexGen’s Arrow Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over 1.3m including 10m interval of 10.3% U3O8). Together with its flagship project, the Company’s projects stretch across approximately 175,000 hectares of claims throughout the Athabasca Basin. These claims host over 20 distinct and well-defined drill target areas with advanced geophysical surveys completed, and in some cases, have had first pass drilling performed.
Scott Frostad BSc, MASc, PGeo, Purepoint’s Vice President, Exploration, is the Qualified Person responsible for technical content of this release.
For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
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Disclosure regarding forward-looking statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.