FOR IMMEDIATE RELEASE
Purepoint Uranium Group Inc: Hits 3.03% U3O8 at Osprey Zone on Red
Willow
Toronto, April 22, 2008 - Purepoint Uranium Group
Inc. (TSX:PTU.V) is pleased to report the initial assay results from their
Red Willow winter diamond drill program in the Athabasca Basin. Diamond drill
hole RW-19 returned assay grades up to 3.03% U3O8 in a structure averaging
0.58% U3O8 over 1.0
metre at a shallow depth of less than 100 metres. RW-19 is
located approximately 80
metres north from the discovery hole RW-07, which
reported 0.20% e U3O8 over 5.8
metres in December 2007.
"We continue to be extremely encouraged with the early results
from the Osprey Zone" said Scott Frostad, VP Exploration of Purepoint
Uranium Group Inc.. "We've only begun testing a small portion of this
structurally complex area and are anxious to resume drilling here after
spring break-up."
Purepoint awaits assay results from the second half of the Red Willow
winter drill program, which included additional holes at the Osprey Zone
(RW-21 to 24) as well as first pass holes at the Long Lake and Lyon Lake
Zones (LL-08-01 to 07).
Highlights
- 0.58%
U3O8 over 1.0 metre
(from 93.3 to 94.3 m)
including a 10 cm
interval assaying 3.03% U3O8 in DDH RW-19. The radioactive intercept in
RW-19 is located 80
metres north of the radioactive structure
intersected by DDH RW-07.
- 0.27%
U3O8 over 1.2
metres (from 65.0 to 66.2 m) in DDH RW-13
that represents a 20
metre step-out south of RW-07.
- Drilling
is planned to continue at the Osprey Zone following spring break-up.
All drill holes were probed with a Mount Sopris
2PGA-1000 Poly-Gamma Probe and downhole surveyed using a Reflex EZ-SHOT tool.
Drill hole collar locations were surveyed this month by Tri-City Surveys of
Saskatoon. Drill core samples are analyzed at the Saskatchewan Research
Laboratory in Saskatoon.
Overall 4,460 metres
of diamond drilling was completed at Red Willow during this winter season. Purepoint
was very pleased with the performance of Aggressive Drilling of Saskatoon and
has contracted with that company to drill up to 30,000 metres. Permits
have already been issued for the continued drilling scheduled for Red Willow
this spring.
Key assay results are summarized below:
Hole
|
From (m)
|
To (m)
|
Width (m)
|
% U3O8
|
RW-08
|
72.3
|
72.7
|
0.4
|
0.12
|
|
159.2
|
159.4
|
0.2
|
0.10
|
|
|
|
|
|
RW-10
|
58.6
|
58.7
|
0.1
|
0.50
|
|
62.5
|
64.2
|
1.7
|
0.09
|
|
|
|
|
|
RW-13
|
65.0
|
66.2
|
1.2
|
0.27
|
|
|
|
|
|
RW-19
|
93.3
|
94.3
|
1.0
|
0.58
|
|
Includes
|
|
|
|
|
94.1
|
94.2
|
0.1
|
3.03
|
|
|
|
|
|
RW-20
|
26.0
|
28.7
|
2.7
|
0.05
|
|
Includes
|
|
|
|
|
26.8
|
27.1
|
0.3
|
0.15
|
Red Willow
Purepoint's 100% owned Red Willow project adjoins AREVA Resource Canada
Inc..'s claim group that contains the JEB, Sue, McClean and Caribou deposits
to the west, as well as UEX's Hidden Bay project that surrounds the Rabbit
Lake, Collins Bay and Eagle Point deposits to the south. Discovered in 1980,
Cameco's Eagle Point mine lies approximately 15 kilometres south
of Purepoint's Red Willow Project and remains the longest producing uranium
mine in Canada, with total mined and proven resources of 133 million lbs.
U3O8.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of 37
defined target areas on nine100% owned projects in the Canadian Athabasca
Basin and 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
|