Mr. Chris Frostad reports

PUREPOINT URANIUM GROUP INC. HITS 12.90% U3O8 OVER 0.4 METRES WITHIN 2.23% U3O8 OVER 2.8 METRES NEAR PATTERSON LAKE, SK

Purepoint Uranium Group Inc. has released preliminary results from the 2015 Hook Lake joint venture drill program within the Patterson Lake conductive corridor in Saskatchewan's Athabasca basin. Results were highlighted by hole HK15-27, which returned 2.8 metres of 2.23 per cent triuranium octoxide (U3O8), including 12.9 per cent U3O8 over 0.4 metre. The Hook Lake project is a joint venture with Areva Resources Canada Inc. and Cameco Corp.

The new high-grade uranium intercept by hole HK15-27 is located 240 metres along strike (northeast) and 180 metres down dip of last year's Spitfire discovery (press release dated March 10, 2014). Uranium mineralization is controlled by a semi-brittle structure that is coincident with the upper contact of a thick, strongly sheared graphitic-pyritic pelitic gneiss unit. Drilling is following up the HK15-27 high-grade mineralized intercept.

"We were led to successively deeper drill targets while using large step-outs to chase an observed increase in alteration and radioactivity," said Scott Frostad, Purepoint's vice-president of exploration. "Our successful cut of high-grade mineralization came by drilling 85 metres down dip of the structure that returned 0.1 per cent U3O8 over 4.3 metres in hole HK15-25."

Highlights:

• High-grade uranium mineralization has been discovered 240 metres northeast of the Spitfire discovery approximately 390 metres below surface.
• Hole HK15-27 intersected 2.23 per cent U3O8 over 2.8 metres from the upper contact of a graphitic unit (depth of 390 metres) and contains 20 centimetres of semi-massive pitchblende.
• Hole HK15-25 intersected 0.1 per cent U3O8 over 4.3 metres (depth of 310 metres) from the same structure hosting the high-grade mineralization in HK15-27 and an additional interval of 0.13 per cent U3O8 over 1.2 metres (depth of 255 metres).
• The current drill season will allow for a few more follow-up drill holes to the HK15-27 intercept.

Initial drill results -- northeast of Spitfire discovery

Eleven diamond drill holes (5,438 metres) have now been completed during the continuing 2015 winter drill program, which is expected to continue into early April. Five of the 11 drill holes have been drilled northeast of the Spitfire discovery area along strike.

Drill hole HK15-18 was collared 350 metres northeast of the Spitfire discovery (0.32 per cent U3O8 over 6.2 metres) and drilled with an azimuth of 307 degrees at a dip of minus 70 degrees. Overburden was cased to a depth of 114 metres then moderately bleached, highly fractured and locally unconsolidated Athabasca sandstone was drilled to the unconformity at a depth of 178 metres. Chloritized, moderate to strongly sheared graphite-rich pelitic gneiss was encountered between 217 metres and 226 metres and returned 95 parts per million uranium over 2.3 metres from intervals of crushed core and strong patchy clay alteration. Chloritized and silicified quartz-rich semi-pelitic gneiss was then encountered to 253 metres, was strongly sheared with moderate clay alteration to 294 metres, strongly chlorite altered to 372 metres and then unaltered to the completion depth of 439 metres.

Drill hole HK15-21A was collared 60 metres behind HK15-18 to test the graphitic units and associated elevated radioactivity at depth. The hole was drilled with a similar azimuth of 307 degrees and dip of minus 70 degrees, and the unconformity was intersected at 181 metres. Strongly hematized and chloritized quartz-rich semi-pelitic gneiss was encountered to 281 metres then a graphitic-pyritic pelitic gneiss to 291 metres. Three intervals of elevated radioactivity, ranging in width from 0.7 metre to 1.2 metres, were intersected between 262 and 269 metres returning 24 parts per million uranium over seven metres. Moderate to strongly clay-altered, quartz-poor pelitic gneiss was then drilled from to 407 metres with a sericite-rich interval returning 105 parts per million uranium over 3.1 metres between 390 metres and 393.1 metres. Quartz-rich semi-pelitic gneiss was strongly chloritized to 421 metres then unaltered to the end of hole at 444 metres.

Drill hole HK15-22 was collared approximately 400 metres northeast of HK15-21A using an azimuth of 307 degrees and a dip of minus 70 degrees. Overburden was cased to a depth of 109 metres and then moderately bleached; locally unconsolidated Athabasca sandstone was encountered to the unconformity at 200 metres. Quartz-rich semi-pelitic gneiss displaying moderate, pervasive clay alteration was drilled to 245 metres, then became strongly hematite altered to 277 metres with a seven-metre interval displaying strong shearing and minor fault gouge. Strongly chloritized pelitic gneiss was encountered to 368 metres, then strongly sheared graphitic bands (two metres to nine metres in width) were present to a depth of 402 metres. Moderately chloritized quartz-rich semi-pelitic gneiss was then drilled to the completion depth of 528 metres. No significant radiation was encountered.

Drill hole HK15-25 was drilled 100 metres southwest of hole HK15-21A with an azimuth of 307 degrees and dip of minus 70 degrees. The unconformity was intersected at 160 metres then pelitic gneiss, displaying various degrees of chlorite, hematite and clay alteration, was drilled to 223 metres and hosted two fault zones that measured 0.9 metre and 8.2 metres in width. Quartz-rich semi-pelitic gneiss with strong chlorite alteration was drilled to 295 metres before becoming clay rich to a depth of 310 metres. The quartz-rich gneiss was strongly sheared locally, hosted three fault zones measuring two metres to four metres in width and returned 0.13 per cent U3O8 over 1.2 metres from 253.2 metres to 254.4 metres. Strongly sheared graphitic-pyritic pelitic gneiss with minor fault gouge and bands of crushed core was intersected between 310 metres and 347 metres and returned 0.1 per cent U3O8 over 4.3 metres between 312.7 metres and 317 metres. Chloritized pelitic gneiss with local strong shearing and clay-rich/quartz-rich intervals was then encountered to 400 metres and hosted a three-metre graphitic-pyritic shear and a two-metre fault zone. Granitic gneiss was then drilled to the completion depth of 464 metres.

Drill hole HK15-27 tested the radioactive structure intersected by HK15-25 at depth by backing the drill up 70 metres. The hole was drilled with an azimuth of 304 degrees and dip of minus 70 degrees. The unconformity was reached at a depth of 158 metres, quartz-rich pelitic gneiss with strong hematite alteration was encountered to 203 metres and became moderately clay altered to 232 metres, with a fault zone being intersected between 213 and 220 metres, then chloritic until reaching graphitic-pyritic pelitic gneiss at 391 metres. At the upper contact of the graphitic unit, between the depths of 389 metres and 391.8 metres, 2.23 per cent U3O8 was intersected over 2.8 metres, which includes 12.9 per cent U3O8 over 0.4 metre. Contained within the 0.4-metre high-grade interval is 20 centimetres of semi-massive pitchblende. The strongly sheared graphitic unit persisted to a depth of 415.9 metres, followed by chloritic quartz-rich pelitic gneiss to 498 metres, then unaltered granitic gneiss to the completion depth of 533 metres.

Core samples are submitted to the Saskatchewan Research Council's (SRC) geoanalytical laboratories in Saskatoon. The SRC facility is ISO/IEC 17025:2005 accredited by the Standards Council of Canada (scope of accreditation No. 537). The samples are analyzed using partial-digestion and total-digestion inductively coupled plasma methods for boron by sodium peroxide fusion and for uranium by fluorimetry.

All drill intercepts are core width, and true thickness is yet to be determined.

Hook Lake joint venture project

The Hook Lake joint venture project is owned jointly by Cameco (39.5 per cent), Areva Resources Canada (39.5 per cent) and Purepoint Uranium Group (21 per cent) and consists of nine claims totalling 28,683 hectares situated in the southwestern Athabasca basin. 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, with each corridor comprising multiple electromagnetic conductors that have been confirmed by drilling to result from graphitic metasediments that intersect the Athabasca unconformity.

Current exploration is targeting the Patterson Lake corridor, the same conductive trend that not only hosts Fission's Triple R deposit, but as well produced two new uranium showings last winter. Those showings included the Arrow discovery by NexGen Energy Ltd., where hole AR-14-30 returned 10.3 per cent U3O8 over 46 metres (NexGen press release of Oct. 6, 2014) and the Spitfire discovery by the Hook Lake joint venture, with drill hole HK14-09 returning 0.32 per cent U3O8 over 6.2 metres, including an interval of 1.1 per cent U3O8 over 0.5 metre.

Scott Frostad, BSc, MASc, PGeo, Purepoint's vice-president, exploration, is the qualified person responsible for technical content of this release. Mr. Frostad has supervised the preparation of, and approved the scientific and technical disclosures in, this news release.