Purepoint Commences Summer Drill Program at Dorado, Targeting Expansion of the High-Grade Nova Uranium Discovery
Rhea-AI Summary
Purepoint Uranium (OTCQB: PTUUF) has begun its fully funded Summer 2026 drill program at the Dorado Project, a 50/50 joint venture with IsoEnergy in Saskatchewan’s Athabasca Basin.
The campaign will complete seven drill holes totaling about 3,150 metres, targeting expansion of the high-grade Nova uranium discovery and testing additional high-priority conductive targets across the broader Dorado land package. Previous work at Nova returned assays up to 8.1% U3O8, traced mineralization along a one‑kilometre structural corridor, and recorded a peak downhole gamma reading of 73,100 cps. Assays from the nine-hole winter program, which intersected radioactivity above 500 cps in all holes, remain pending.
AI-generated analysis. Not financial advice.
Positive
- Summer 2026 drill plan: 7 holes totaling approximately 3,150 metres
- Program is fully funded, reducing near-term financing needs for drilling
- Nova Discovery assays previously returned up to 8.1% U3O8
- Mineralization traced along a one-kilometre structural corridor at Nova
- Winter campaign: 9 holes with radioactivity greater than 500 cps in all holes
- Peak downhole gamma reading of 73,100 cps confirmed at Nova
Negative
- None.
Toronto, Ontario--(Newsfile Corp. - June 17, 2026) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") announces that drilling has commenced at the Dorado Project, the flagship asset of Purepoint's 50/50 joint venture with IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO), located in Saskatchewan's Athabasca Basin. The fully funded summer 2026 program is designed to build on the high-grade Nova Discovery, where winter drilling successfully expanded uranium mineralization across a one-kilometre structural corridor and refined the geological model for continued exploration. Seven drill holes totaling approximately 3,150 metres are planned through July and August 2026, with the program focused on expanding the Nova Discovery while also evaluating additional high-priority regional targets across the broader Dorado Project.
"The winter program significantly improved our understanding of the Nova system," said Chris Frostad, President and CEO of Purepoint. "We now have a much stronger geological model that is directing this next phase of drilling. Our objective this summer is to test the interpreted plunge of the mineralized structure, evaluate its potential extension toward the unconformity, and continue assessing additional high-priority targets across the broader Dorado Project. Each drill program is building on the success of the last and moving us systematically toward defining the full scale of the system."
Highlights
- Summer drilling is targeting expansion of the high-grade Nova Discovery, where previous drilling returned assays of up to
8.1% U3O8 and defined a one-kilometre structural corridor hosting radioactivity that remains open along strike, at depth and toward the unconformity; - Seven holes totaling approximately 3,150 metres are planned; drilling is expected to continue through July and August 2026;
- The program follows a successful nine-hole winter campaign at the Nova Discovery that intersected radioactivity greater than 500 cps in all holes and refined the geological model for continued exploration;
- Winter drilling confirmed a peak downhole gamma reading of 73,100 CPS, assays from the winter program remain pending;
- Summer drilling will test the interpreted plunge of the Nova mineralized structure and include step-outs toward the unconformity, while also evaluating additional high-priority conductive targets across the broader Dorado land package;
- An airborne MobileMT geophysical survey was recently completed over the Dorado Project and results will be integrated into ongoing geological interpretation and future drill targeting.
Summer 2026 Drill Program
The first objective of the summer campaign is to continue advancing the Nova Discovery. Winter drilling successfully traced uranium mineralization across a one-kilometre structural corridor and provided a significantly improved understanding of the controls on mineralization. The current program is designed to test the interpreted plunge of the Nova system and evaluate its projected extension toward the unconformity. Together, these targets represent the next steps in systematically vectoring toward the core of the mineralized structure, which remains open along strike and at depth.
The second objective of the program is to evaluate several high-priority conductive targets identified by previous geophysical surveys but not yet drill tested. These targets represent an opportunity to define the mineralized system (see Figure 1) across a broader portion of the Dorado Project. Drilling is helicopter-supported, with accommodations and fuel logistics provided through Points North Landing.
Figure 1: Location map of summer 2026 drill program, Dorado JV Project
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* See Qualified Person Statement below.
About the Dorado Project
The Dorado Project is the flagship asset of the Purepoint and IsoEnergy 50/50 joint venture, encompassing more than 98,000 hectares of highly prospective uranium exploration ground in the eastern Athabasca Basin. The Project sits within one of the most prolific uranium districts on earth, surrounded by world-class deposits including IsoEnergy's Hurricane — the world's highest-grade indicated uranium resource. Underlain by the same fertile graphitic lithologies and fault structures that control high-grade uranium mineralization across the eastern Basin, the project hosts multiple untested conductive corridors that exhibit structural and lithological characteristics seen associated with high-grade unconformity-related uranium deposits. Shallow unconformity depths across the property allow for efficient drilling and rapid follow-up.
Gamma Logging
A Mount Sopris 2PGA-1000 downhole total gamma probe was utilized for radiometric surveying and reported counts per second.
Qualified Person Statement
The scientific and technical information contained in this news release relating to Purepoint was reviewed and approved by Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, who is a "Qualified Person", as defined in NI 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a uranium exploration company operating at the heart of the Athabasca Basin — the world's premier high-grade uranium district. Purepoint actively operates exploration programs on behalf of joint venture partnerships with three of the world's leading uranium companies: Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd. Purepoint's strategy of advancing projects through partnerships with leading uranium companies allows the Company to leverage technical expertise and partner funding while maintaining meaningful exposure to discovery success.
Purepoint operates the Dorado Project under a 50/50 joint venture with IsoEnergy Ltd., where the Nova Discovery returned confirmed assays of up to
Additionally, Purepoint holds a promising VMS project optioned to and strategically positioned adjacent to Eldorado Gold's McIlvenna Bay project.
For more information, please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca
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.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". This forward-looking information may relate to additional planned exploration activities, including the timing thereof and the anticipated results thereof; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, that planned exploration activities are completed as anticipated; the anticipated costs of planned exploration activities, the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Joint Venture's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Purepoint have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of IsoEnergy and Purepoint with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Purepoint, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include but are not limited to the following: the inability of the Joint Venture to complete the exploration activities as currently contemplated; uncertainty of additional financing; no known mineral resources or reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions. Other factors which could materially affect such forward-looking information are described in the risk factors in each of IsoEnergy's and Purepoint's most recent annual management's discussion and analyses or annual information forms and IsoEnergy's and Purepoint's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and Purepoint do not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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