FOR IMMEDIATE RELEASE
Purepoint Uranium Group Inc: Stakes near Midwest and Roughrider
Toronto, January 22, 2009 - Purepoint Uranium Group
Inc. (TSX:PTU.V) today announced that it has staked a new claim within the
well established uranium mine trend along the eastern edge of Saskatchewan's
Athabasca Basin. The new 100% owned Henday Lake property is within ten
kilometers of both Hathor Exploration Limited's recently discovered
Roughrider Zone and the Midwest uranium deposit owned by Denison Mines Corp.,
AREVA Resources Canada Inc. and OURD.
The Henday Lake property falls within the Mudjatik-Wollaston Tectonic
Zone, a northeast trending structural zone along the eastern margin of the
Basin. Over 95% of known Canadian uranium deposits, and all operating uranium
mines in Canada, are located on this trend.
"Purepoint actively
maintains and analyzes an extensive data base of all publicly available
exploration work performed in the Basin in order to capitalize on exciting
opportunities such as this" said Chris Frostad, President & CEO of
Purepoint. "To be able to acquire by staking such a promising and
virtually untested target in the heart of the Basin's uranium mine district
is certainly our good fortune."
Highlights:
- located nine kilometres
northwest of Areva's Midwest Lake deposit (41 million lbs. U3O8) and ten
kilometers west of Hathor's Roughrider Zone
- up to nine kilometers of EM
conductors remain virtually untested
- the single known hole (1998
by Cogema Resources) encountered a strongly graphitic fault gouge
- depth to basement is locally
less than 350 metres
- within a magnetic low
believed to represent pelitic basement rocks, a typical host rock for
economic uranium mineralization
The
Henday Lake property is 1,029 hectares in size, twice the size of Hathor's
nearby Midwest Northeast Project hosting their Roughrider Zone. Only one
drill hole is known to have been drilled on Purepoint's Henday property. Hole
HLH8-71 was drilled by Cogema Resources in 1998. That hole encountered a
steeply dipping, strongly graphitic fault gouge at the bottom of the hole.
The Mudjatik-Wollaston
Tectonic Zone is the NE trending high strain tectonic zone marking the
boundary between the Archean gneisses and granitoids of the Mudjatik Domain
to the west and Archean gneisses, metasediments, and pegmatite intrusions of
the Wollaston domain to the east.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of more
than 55 defined target areas on its nine 100% owned projects in the Canadian
Athabasca Basin, and its two Basin projects joint ventured with Cameco
Corporation and UEM Inc., a company owned equally by 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.
Ends
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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