Purepoint Uranium Group Inc.
TSX VENTURE : PTU

Purepoint Uranium Group Inc.

September 13, 2011 08:00 ET

Purepoint Provides Update on Red Willow Joint Venture with Rio Tinto

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2011) - Purepoint Uranium Group Inc. (TSX VENTURE:PTU) provided an update on the advancement of Purepoint's Red Willow Project in the Athabasca Basin. The project is managed by Rio Tinto under an option agreement signed in December 2010.

"Rio Tinto's focus this summer was to follow up on three areas identified from a recently completed regional 3D geological model", said Scott Frostad, Purepoint's Vice President, Exploration. "Geophysical surveys are now in progress and the results will be added to the existing base of knowledge in order to prioritize the next phase of work".

Highlights

  • Identification of three priority areas located near the Osprey, Dancing Lake and Big Bay grids;

  • The priority areas are structurally similar to those hosting large deposits located elsewhere in the Athabasca Basin;

  • 69 kilometres of Gradient Induced Polarization (IP) surveying has now been completed;

  • Areas of interest are scheduled for detailed follow-up with Pole-Dipole IP surveying;

  • A Technical Committee meeting is scheduled for mid-October at Rio Tinto's offices in Vancouver to review the results and discuss the next phase of work.

Red Willow

The Red Willow property covers 25,612 hectares on the eastern edge of the Athabasca Basin. The Athabasca sandstone is shallow and the depth to unconformity varies from surface to 80 metres. The basement rocks are composed of intensely deformed and metamorphosed sedimentary, volcanic and plutonic rocks trending NE to SW. Five major uranium deposits are located along a NE to SW mine trend that extends through the Red Willow Project. To date only six of Red Willow's 21 delineated target zones have been subject to first pass drilling.

The Red Willow property 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 property that surrounds Cameco Corporation's Rabbit Lake, Collins Bay and Eagle Point deposits.

About Purepoint

Purepoint Uranium Group Inc. is focused on the precision exploration of its twelve projects in the Canadian Athabasca Basin. Purepoint proudly maintains project ventures in the Basin with the three largest uranium producers in the world, Cameco Corporation, AREVA and Rio Tinto. Established in the Athabasca Basin well before the initial resurgence in uranium earlier last decade, Purepoint is actively advancing a 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
    www.purepoint.ca