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Purepoint Uranium Announces AGM Results and Provides Update on its Hook Lake Project



TORONTO , July 15, 2020 /CNW/ - Purepoint Uranium Group Inc. (PTU.V) ("Purepoint" or the "Company") announced results of its Annual General Meeting held in Toronto, ON , on July 14, 2020 , and provided an update on its corporate activities.

Purepoint Uranium Group Inc. (CNW Group/Purepoint Uranium Group Inc.)
Purepoint Uranium Group Inc. (CNW Group/Purepoint Uranium Group Inc.)

At the AGM, shareholders voted in favor of all matters of business. These matters included the elections of Allan Beach, Borys Chabursky , Chris Frostad and Scott Frostad as Directors, the appointment of MNP LLC as Auditors and the approval of the Incentive Stock Option Plan.

The Company is currently planning for its next drill program at its flagship Hook Lake Project, a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%) in the Patterson Uranium District, Saskatchewan, Canada .

The work to date at the Hook Lake Project as well as the collective discoveries and next steps are detailed in a series of short videos which can be accessed at the links below:

Hook Lake JV Project

The Hook Lake JV Project is owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%), and Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV Project is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity.

Current exploration is targeting the Patterson Lake Corridor that hosts Fission's Triple R Deposit (indicated mineral resource 87,760,000 lbs. U3O8 at an average grade of 1.82% U3O8 – www.fissionuranium.com), NexGen Energy's Arrow Deposit (indicated mineral resource 256,600,000 lbs. U3O8  at an average grade of 4.03% – www.nexgenenergy.ca) and the Spitfire discovery by the Hook Lake JV. The foregoing mineral resource disclosure is information about the properties adjacent to the Company's property and does not imply that the Company will obtain similar information from its own property.

About Purepoint

Purepoint Uranium Group Inc. is focused on the precision exploration of its nine projects in the Canadian Athabasca Basin, the world's richest uranium region. Established in the Athabasca Basin well before the initial resurgence in uranium earlier last decade, 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, NexGen's Arrow Deposit and the Hook Lake JV's Spitfire discovery.

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

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Disclosure regarding forward-looking statements

This news 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.

SOURCE Purepoint Uranium Group Inc.


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