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FOR IMMEDIATE RELEASE
Purepoint Uranium Group Inc: Defines 45 High-Potential Targets on its
11 Athabasca Basin uranium properties
Toronto, April 15, 2008 - Purepoint Uranium Group
Inc. (TSX:PTU.V) is pleased to announce the completion of all early stage exploration
on their 100% owned properties located in the Athabasca Basin. With the
completion of this phase of work, Purepoint is now advancing 45 select
high-potential exploration targets on nine 100% owned and two joint-ventured
properties in the richest uranium producing region in the world.
"Purepoint's long-term, systematic approach to exploration has
involved the completion of extensive geophysical analysis prior to first-pass
drill testing"" said Roger Watson, Purepoint's Chief Geophysicist. "Since 2004 we have spent
nearly $20 million expanding our understanding of these properties, which had
already benefited from tens of millions of dollars worth of historical
exploration work. We have now refined and prioritized that extensive land
package and our most prospective target areas".
"Each of our
exploration targets typically encompass a large land area that contains
multiple graphitic conductors measuring several kilometers in length,"
said Scott Frostad, Purepoint's Vice President Exploration. "We've now
selected forty-five exploration target areas or zones, each representing a
distinct geological setting with the potential for hosting a uranium orebody,
and which are now ready to drill. First pass drilling has already commenced
on a number of these target areas".
Purepoint is optimizing
several of its larger claim blocks by reducing their size to specific areas
of proven interest. Purepoint estimates it should save approximately
$1,600,000 per year in Provincial assessment maintenance costs.
Highlights:
- Forty-five high-potential
uranium target areas have been defined for diamond drill testing. Each
target has geophysical/geological indicators of graphitic rocks, complex
structure and/or hydrothermal alteration;
- The Umfreville property is
now separated into three new properties (Umfreville North, Umfreville
South and Orr Lake) that host four newly defined target areas (the
Porcupine, Perching, HR and Palawan Zones) covering prospective
geophysical and geological indicators;
- Purepoint's very large William
River property is transected by the Clearwater Fault, a major,
long-lived structure that is considered to have created favourable
settings for trapping uranium-rich fluids. Two new properties (William
River North and William River South) now encompass six new target areas
(the Etano, Heke, Cyne, Woodstar, Payne and Palina Zones).
- Three exploration targets
have been similarly identified for drill testing on the Fire Eye
project, and two on the South Newnham project ;
These
five new properties now join Purepoint's six existing properties, four of
which are undergoing more advanced drilling programs: Red Willow, Turnor
Lake, Hook Lake and Smart Lake.
Extensive
Exploration Portfolio
Below is a summary list
of Purepoint's eleven properties and drill ready target areas. More detailed
information on each property's exploration targets is available on
Purepoint's website.
Red Willow (13 target
areas, including 3 advanced drill targets) Turnor Lake (9 target areas,
including 4 advanced drill targets) Hook Lake (3 target areas, including 1
advanced drill target) Smart Lake (5 target areas) Fire Eye (3 target areas)
Newnham South (2 target areas) Umfreville North (2 target areas) Umfreville South
(1 target area) Orr Lake (1 target area William North (3 target areas)
William South (3 target areas)
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of the
37 defined target areas on its nine100% owned projects in the Canadian
Athabasca Basin, and the eight target areas hosted within two Basin projects
joint ventured with Cameco Corporation and AREVA Resources Canada Inc.
Established in the Basin well before the resurgence in uranium, Purepoint is
actively advancing this large portfolio of multiple drill targets in the
world's richest uranium region.
Scott Frostad BSc, MASc,
PGeo, Purepoint's Vice President, Exploration, is the Qualified Person
responsible for technical content of this release.
THE TSX VENTURE EXCHANGE
HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
For further information
please contact:
Purepoint Uranium Group
Inc.
Chris Frostad, President and CEO
(416) 603-8368
www.purepoint.ca
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