Located within the Patterson Uranium District, the Hook Lake is a project owned jointly by Cameco Corporation (39.5%), Orano Canada Inc. (39.5%) and Purepoint (21%).

Operated by Purepoint since 2007, the project consists of nine claims totaling 28,598 hectares including the Spitfire high-grade discovery (10.3% U3O8 over 10 metres including a 1.3 metres interval of 53.3% U3O8).

The Hook Lake Project is located approximately 75 km south-southwest of Orano Canada Inc.'s former Cluff Lake mine and directly north of, and on trend with, high-grade discoveries including Fission Uranium's Triple R deposit and NexGen's Arrow deposit.

The depth to the Athabasca unconformity is very shallow, ranging from zero to 350 metres.

Three prospective structural “corridors” have been defined on the property: Patterson, Carter & Derkson, each corridor being comprised of multiple EM conductors that have been confirmed by drilling as prospective graphitic shear zones.

The Patterson Uranium District is a structural corridor situated on the SW edge of Saskatchewan’s Athabasca Basin, interpreted to extend at least 50km, and host to Fission Uranium’s Triple R deposit, NexGen’s Arrow deposit and Purepoint Uranium’s Spitfire discovery.

The Carter Structural Corridor is currently deemed to be the most prospective target areas on the Hook Lake Project due to its proximity to the Clearwater Domain heat source and the current exploration focus by the joint venture partners.

A 2019 airborne gravity survey funded by the Targeted Geoscience Initiative (TGI), a collaborative federal geoscience program, has provided results suggesting that uranium deposits may form proximal to gravity highs. Purepoint considers the gravity highs of the first vertical derivative (Boulanger, Kiss and Tschirhart, 2019) to be reflecting ultramafic intrusives within granodioritic gneisses. The density contrast of the two lithologies may be providing zones of weakness along their contacts where structural traps for uranium-rich fluids are being preferentially formed.