Mr. Chris Frostad reports

PUREPOINT URANIUM STARTS HOOK LAKE DRILL PROGRAM

Purepoint Uranium Group Inc. has commenced drilling at the Hook Lake project. The Hook Lake project is a joint venture (JV) between Cameco Corp. (39.5 per cent), Orano Canada Inc. (39.5 per cent) and Purepoint (21 per cent). The project lies on the southwestern edge of Canada's Athabasca basin and is adjacent to, and on trend with, high-grade uranium discoveries including Fission Uranium's Triple R deposit and NexGen's Arrow deposit.

"We are well into our first hole and anticipate an exciting program as we follow up on last year's breakthrough at the Carter corridor," said Scott Frostad, vice-president of exploration at Purepoint.

Highlights:

• Approximately 2,500 metres of diamond drilling are planned in five holes testing the Carter corridor.
• The program will follow up on hole CRT23-05, which returned an assay of 0.08 per cent U3O8 (triuranium octoxide) (671 parts per million (ppm) uranium (U)) over 0.4 metre (319.1 m to 319.5 m) from a basement-hosted 15-metre graphitic shear zone (318 m to 333 m downhole depth) before encountering five metres of intense clay alteration.
• In addition, the CRT23-05 mineralization was found to have a significant boron halo over 35 metres (305 m to 340 m) returning assays greater than 800 ppm boron (B) at the boundaries.
• The Carter corridor represents a long-lived, reactivated fault zone that lies between the Clearwater domain granitic intrusive rocks to the west and runs parallel to the Patterson structural corridor to the immediate east.
• The 25-kilometre strike length of the Carter structural/conductive corridor is almost entirely located within the Hook Lake JV project.
• Complete details of all Purepoint's exploration projects and next steps can be found on the company's website.

A current National Instrument 43-101-compliant technical report on the flagship Hook Lake joint venture project can be found at the company's website.

Hook Lake -- the Carter corridor

The Hook Lake JV project is owned jointly by Cameco (39.5 per cent), Orano Canada (39.5 per cent) and Purepoint Uranium Group (21 per cent) as operator, and consists of nine claims totalling 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.

Last year, Purepoint drilled 2,710 metres in six holes to test the Carter corridor. As this was the company's first-pass drilling, the main conductive trend was tested using 800-metre stepouts toward the north to identify the most prospective geology.

Drill hole CRT23-05 intersected a sheared/faulted, chlorite-altered, graphitic diorite gneiss over 15 metres before encountering five metres of intense clay alteration. The graphitic shear returned an assay of 0.08 per cent U3O8 (671 ppm U) over 0.4 metre (319.1 m to 319.5 m) that was associated with a distinct boron halo over 35 metres (305 m to 340 m).

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.

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

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