Mr. Chris Frostad reports

PUREPOINT URANIUM GROUP INC. CLOSES PRIVATE PLACEMENT

Purepoint Uranium Group Inc. has closed its non-brokered private placement. In connection with the closing, the company issued 2,648,978 flow-through units at a price of 38 cents per unit for aggregate gross proceeds of $1,006,611.64. Each flow-through unit consists of one common share in the capital of the company 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 in the capital of the company at an exercise price of 50 cents per share for a period of 12 months from the date of issuance.

In connection with the closing of the private placement, the company paid finders' fees consisting of, in aggregate, $51,765.12 in cash and 136,224 non-transferable compensation warrants. Each compensation warrant entitles its holder to purchase one common share in the capital of the company at an exercise price of 50 cents per share for a period of 12 months after the closing date.

The net proceeds of the private placement will be used for the exploration and advancement of the company's projects in the Athabasca basin, Saskatchewan. All securities issued in connection with the closing of the private placement are subject to a four-month hold period pursuant to the applicable securities laws with an expiry date of Dec. 27, 2026.

About Purepoint Uranium Group Inc.

Purepoint is a uranium exploration company operating at the heart of the Athabasca basin -- the world's premier high-grade uranium district. Purepoint actively operates exploration programs on behalf of joint venture partnerships with three of the world's leading uranium companies: Cameco Corp., Orano Canada Inc. and IsoEnergy Ltd.

Purepoint's strategy of advancing projects through partnerships with leading uranium companies allows the company to leverage technical expertise and partner financing while maintaining meaningful exposure to discovery success.

Purepoint operates the Dorado project under a 50/50 joint venture with IsoEnergy Ltd., where the Nova Discovery returned confirmed assays of up to 8.1 per cent U3O8 and a mineralized corridor now extends to one kilometre. The company also operates the Hook Lake and Smart Lake projects under joint venture with Cameco and Orano Canada. Purepoint's wholly owned property portfolio includes additional exploration-stage uranium assets in the Athabasca basin region.

Additionally, Purepoint holds a promising VMS (volcanogenic massive sulphide) project optioned to and strategically positioned adjacent to Eldorado Gold's McIlvenna Bay project.

We seek Safe Harbor.