Mr. Chris Frostad reports

PUREPOINT URANIUM OUTLINES 2024 EXPLORATION PLANS

Purepoint Uranium Group Inc. has outlined its exploration plans for 2024 with field programs at its two joint ventures and four of its 100-per-cent-owned projects. All six projects reside in Canada's Athabasca basin, the world's richest uranium district.

"The recent news of production shortfalls out of Kazakhstan has highlighted the long-term challenges in the nuclear fuel pipeline and truly ignited substantial attention towards those of us responsible for identifying new sources of uranium," said Chris Frostad, president and chief executive officer of Purepoint. "Drilling is a priority this year as we follow up on our projects that have demonstrated the highest potential for discovery."

Scheduled drill programs:

• Drilling is set to begin shortly at the Hook Lake JV project, jointly owned by Cameco Corp. (39.5 per cent), Orano Canada Inc. (39.5 per cent) and Purepoint Uranium Group (21 per cent) as operator (see press release dated Nov. 20, 2023). Mobilization is currently under way and proceeding well despite unseasonably cold temperatures.
• Plans have been completed for this spring's drill program at the company's 100-per-cent-owned Red Willow project. Drilling will initially target the Long Lake area where over five kilometres of favourable EM (electromagnetic) conductors remains to be drill tested and historic drilling intersected a 1.6-metre radioactive structure in LL08-05 that included 269 parts per million uranium over 0.5 metre.
• Purepoint's Turnor Lake project is scheduled for drilling in late Q3 2024. Drilling will target the 2.3-kilometre-long Serin EM conductor, which lies on trend with IsoEnergy Ltd.'s Hurricane deposit and will also test the Turaco East conductor. A 2022 drill hole at Serin Lake, SL22-02A, encountered two graphitic zones with weak shearing and returned 331 parts per million uranium over 0.8 metre (326.6 metres to 327.4 metres). The Serin Lake conductor remains prospective between SL22-02A and the historic hole SL-08-01 and is still untested to the northeast. Drilling is also scheduled for the Turaco East conductor, where historic hole Q-2 returned an anomalous uranium result of 886 parts per million uranium over 30 centimetres.

Scheduled geophysical programs:

• In Q1 2024, the company will conduct detailed airborne EM and radiometric surveys at its 100-per-cent-owned Russell South project. Survey results will be used to define discrete targets for next-step drilling.
• In April, Purepoint will conduct stepwise moving-loop and fixed-loop transient EM surveys at the Smart Lake JV project, jointly owned by Cameco (73 per cent) and Purepoint Uranium Group (27 per cent) as operator. Survey results from the northern Groomes Lake conductor will be used to define discrete targets for next-step drilling.
• During the summer months, the company intends to conduct an airborne gravity survey over the high-potential target zones identified during 2023 at the Tabbernor project.

Additional detail on each of these programs will be provided as they commence. A complete overview of all Purepoint's exploration projects and next steps can be found on the company's website.

About Purepoint Uranium Group Inc.

Purepoint Uranium Group actively operates an 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.

Scott Frostad, PGeo, Purepoint's vice-president, exploration, is the qualified person responsible for technical content of this release.

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