Mr. Chris Frostad reports

PUREPOINT URANIUM UPSIZES FLOW-THROUGH PRIVATE PLACEMENT

Due to strong investor demand, Purepoint Uranium Group Inc. has increased the offering size of the non-brokered private placement previously announced on Nov. 27, 2023, from $2.5-million to $4-million. Up to 76,190,477 flow-through units at a price of 5.25 cents per unit are issuable pursuant to the offering. Each flow-through unit consists of one common share of the company to be issued on a flow-through basis, pursuant to the Income Tax Act (Canada), and one common share purchase warrant. Each warrant entitles its holder to purchase one common share of the company at an exercise price of seven cents for a period of 24 months from the date of issuance. The closing of the offering is expected to be Dec. 13, 2023, subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and corporate approvals, including the approval of the offering by the TSX Venture Exchange.

About Purepoint Uranium Group Inc.

Purepoint Uranium Group actively operates a uranium exploration pipeline of nine advanced projects in Canada's Athabasca basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano, and a second joint venture with Cameco at Smart Lake, Purepoint also holds seven 100-per-cent-owned projects with proven uranium-rich targets. With an aggressive exploration program under way on multiple projects, Purepoint is emerging as the pre-eminent uranium explorer in the world's richest uranium district.

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