TORONTO, July 15, 2020 /CNW/ - Purepoint Uranium
Group Inc. (TSXV: PTU) ("Purepoint" or the "Company")
announced results of its Annual General Meeting held in
Toronto, ON, on July 14, 2020, and provided an update on its
corporate activities.
At the AGM, shareholders voted in favor of all matters of
business. These matters included the elections of Allan Beach,
Borys Chabursky, Chris Frostad and Scott
Frostad as Directors, the appointment of MNP LLC as Auditors
and the approval of the Incentive Stock Option Plan.
The Company is currently planning for its next drill program at
its flagship Hook Lake Project, a joint venture between Cameco
Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%)
in the Patterson Uranium District, Saskatchewan, Canada.
The work to date at the Hook Lake Project as well as the
collective discoveries and next steps are detailed in a series of
short videos which can be accessed at the links below:
- The Patterson Model - Part 1: A 4.5-minute video on the
Patterson Model (https://youtu.be/o1CbgHRfdAY)
- The Patterson Model - Part 2: A 5-minute video outlining the
recent findings, potential and plans for the Sabre Zone
(https://youtu.be/KGZwvRnRHSo)
- Uncovering the Patterson Uranium District: a 5-minute overview
of the history of the Patterson Uranium District
(https://youtu.be/Rt43EpZu4ck)
- More videos can be viewed at the Company website at:
https://purepoint.ca/videos/
Hook Lake JV Project
The Hook Lake JV Project is owned jointly by Cameco Corp.
(39.5%), Orano Canada Inc. (39.5%), and Purepoint Uranium Group
Inc. (21%) as operator and consists of nine claims totaling 28,598
hectares situated in the southwestern Athabasca Basin. The Hook Lake JV Project is
considered one of the highest quality uranium exploration projects
in the Athabasca Basin due to its
location along the prospective Patterson
Lake trend and the relatively shallow depth to the
unconformity.
Current exploration is targeting the Patterson Lake Corridor
that hosts Fission's Triple R Deposit (indicated mineral resource
87,760,000 lbs. U3O8 at an average grade of 1.82% U3O8 –
www.fissionuranium.com), NexGen Energy's Arrow Deposit (indicated
mineral resource 256,600,000 lbs. U3O8 at an average grade of
4.03% – www.nexgenenergy.ca) and the Spitfire discovery by the Hook
Lake JV. The foregoing mineral resource disclosure is information
about the properties adjacent to the Company's property and does
not imply that the Company will obtain similar information from its
own property.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision
exploration of its nine projects in the Canadian Athabasca Basin,
the world's richest uranium region. Established in the Athabasca Basin well before the initial
resurgence in uranium earlier last decade, Purepoint's flagship
project is the Hook Lake Project, a joint venture with two of the
largest uranium suppliers in the world, Cameco Corporation and
Orano Canada Inc. The Hook Lake JV Project is on trend with
recent high-grade uranium discoveries including Fission Uranium's
Triple R Deposit, NexGen's Arrow Deposit and the Hook Lake JV's
Spitfire discovery.
Scott Frostad BSc, MASc, PGeo,
Purepoint's Vice President, Exploration, is the Qualified
Person responsible for technical content of this release.
Neither the Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This news release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company. These risks and uncertainties could
cause actual results and the Company's plans and objectives to
differ materially from those expressed in the forward-looking
information. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and expressly qualified in their entirety by this notice.
SOURCE Purepoint Uranium Group Inc.