FOR IMMEDIATE RELEASE
Purepoint
Uranium Group Inc: Appoints Martin Schady to the Board of Directors
Toronto,
November 5, 2007 - Purepoint
Uranium Group Inc. (TSX-V:PTU) is pleased to
announce the addition to its Board of Directors of Mr. Martin Schady B.B.Sc.,
CA. Most recently Martin served as the Head of Business Development (Americas) for
Xstrata.
After beginning his career with Arthur Andersen & Co, Martin went
on to hold a variety of senior executive positions with Noranda Inc. and
Falconbridge Limited including, until 2006, that of Senior Vice President,
Business Development where he initiated and managed all merger &
acquisition activities for the group.
"The addition of someone of Martin's caliber to our Board signals
a significant step in our corporate growth" said Chris Frostad,
Purepoint's President and CEO. "We are all looking forward to working
with Martin and benefiting from his considerable breadth of experience."
The Board of Directors has approved the issuance of 100,000 options to
Mr. Schady pursuant to its stock option plan. The options are exercisable at
a price of $0.54, are subject to agreed vesting schedules and expire in five
years.
Under Purepoint's stock option plan there are at present 7,314,345
common shares reserved for issuance, of which only 3,608,334 shares are
subject to outstanding option grants.
The company also announces that Chris Rich will be resigning as a
Director and Chairman of the Board. Chris has been an invaluable source of
experience and guidance to the Board since the company's inception and
Purepoint thanks him for his assistance and contribution.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration
of more than 42 defined target areas on its seven 100% owned projects in the
Canadian Athabasca Basin, and its 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.
Ends
For further information please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
(416) 603-8368
www.purepoint.ca
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