Purepoint Uranium Group Inc.
TSX VENTURE : PTU

Purepoint Uranium Group Inc.

January 09, 2008 08:30 ET

Purepoint Uranium Group Inc: Stakes Property Adjacent to Red Willow Discovery

TORONTO, ONTARIO--(Marketwire - Jan. 9, 2008) - Purepoint Uranium Group Inc. (TSX VENTURE:PTU) is pleased to announce that is has acquired by staking approximately 3,000 hectares of property adjacent to the northern boundary of its 100% owned Red Willow project in the Athabasca Basin. The new claim immediately adjoins the recently discovered Q Conductor uranium zone at Red Willow. Purepoint believes that the structure hosting this zone extends into the area of this new claim.

Purepoint reported last month the discovery of a wide mineralized structure in the Q Conductor Zone at Red Willow, with the final drill hole of this fall's first pass program returning an average grade of 0.20% U3O8 over 5.8 metres, including 1.01% U3O8 over 0.1 meters, starting at a depth of only 71 metres. A drill is has been re-mobilized and commencement of the follow up program is expected to commence next week.

"Approximately 500 metres to the east of our discovery hole, the Q Conductor appears to cross our claim line, fold back and then re-enter our property" said Scott Frostad, Vice President Exploration, Purepoint Uranium Group Inc. "With this acquisition, we can now properly explore the entire conductor for higher grades".

The Red Willow project adjoins AREVA Resource Canada Inc.'s claim group that contains the JEB, Sue, McClean and Caribou deposits to the west and, to the south adjoins UEX's Hidden Bay project that surrounds the Rabbit Lake, Collins Bay and Eagle Point deposits.

About Purepoint

Purepoint Uranium Group Inc. is focused on the precision exploration of more than 42 defined target areas on its seven 100% owned projects in the Canadian Athabasca Basin, and 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.

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Purepoint Uranium Group Inc.
    Chris Frostad
    President and CEO
    (416) 603-8368
    Website: www.purepoint.ca