October 4 2006 – Purepoint Uranium Group Inc. (TSX-V:PTU) released today its quarterly exploration update outlining the continuing advancement of their seven 100% owned uranium projects in Canada’s Athabasca Basin.
- Summer drilling and field work were concluded last week on drill targets located within the southern portion of the Turnor Lake project;
- The successful summer season was comprised of approximately 3,400 metres of diamond drilling over 17 holes, with assay results expected in late October;
- Boulder and till sampling will continue into October at the Long Lake region of the Red Willow project;
- The Long Lake Radioactive Boulder Train was extended significantly during the summer program and has developed into yet another highly prospective and shallow drill target at Red Willow;
- The interpretation of over 2,000 line kilometres of airborne EM and magnetic surveys performed this summer over both the Fire Eye and William River projects are expected in October. Preliminary interpretations have identified numerous areas of obvious interest and fill-in airborne surveys to enhance these geophysical targets have been commissioned and are expected to commence immediately;
- By the end of the year, Purepoint will have invested in 2006 more than $5.5 million in the advancement of its Athabasca properties. During the remainder of this year, efforts will focus on delineating additional drill targets for the coming winter season through advanced airborne surveys at the William River, South Newnham and Red Willow projects and ground geophysics at the Fire Eye and Turnor Lake projects.
“We are extremely pleased with our progress this summer as we continue to work to refine our 250,000 hectares of historically significant uranium properties into the Basin’s largest inventory of well defined and advancing drill targets,” said Scott Frostad, Vice President, Exploration. “Over the coming weeks we look forward to sharing the results of these initial efforts as assays and interpretations become available.”
Purepoint Uranium Group Inc. is focused on the precision exploration of seven 100% owned uranium projects in the Canadian Athabasca Basin. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing some of the hottest drill targets in the world’s richest uranium region.
For further information please contact:
Chris Frostad, President and CEO
Purepoint Uranium Group Inc.