Purepoint Uranium Provides Q2 Corporate Update on Exploration Activities

Rhea-AI Summary

Purepoint Uranium has released its Q2 2025 exploration update, highlighting significant progress across multiple uranium projects in Canada's Athabasca Basin.

Key developments include:

• Smart Lake JV with Cameco: Currently drilling 4 holes totaling 1,400 metres, targeting conductors in the Groomes Lake corridor
• Dorado JV with IsoEnergy: Planned 6,100-metre drilling program across 17 holes, testing graphitic conductors around a central granitic dome
• Aurora JV with IsoEnergy: Airborne survey at Collins Bay Extension deferred to summer 2025
• Celeste JV with IsoEnergy: Permits secured for Block East region, with initial drilling planned for late Q3
• Denare West with Foran Mining: VTEM Max survey completed, identifying conductive anomalies near McIlvenna Bay deposit under $19M option agreement
• Tabbernor Project: Defined three priority zones through FALCON gravity survey, with 2025 exploration permits received

The company continues to advance its uranium portfolio through strategic partnerships and systematic exploration programs.

Positive

• Active drilling program underway at Smart Lake with 1,400 metres across 4 holes
• Substantial drilling program planned at Dorado with 6,100 metres across 17 holes
• Exploration permits secured for multiple projects (Edge, Full Moon, Turnor Lake)
• $19 million option agreement with Foran Mining for Denare West project
• VTEM Max survey completed at Denare West identified multiple conductive anomalies near McIlvenna Bay deposit

Negative

• Aurora airborne geophysical survey delayed from early 2025 to late summer
• Celeste Block exploration remains in early-stage with future drilling pending geophysical refinement

Toronto, Ontario--(Newsfile Corp. - April 2, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") provided its Q2 corporate update on exploration activities across its portfolio of uranium projects in Canada's Athabasca Basin. This exploration update highlights the continued advancement of multiple high-priority targets as Purepoint executes on its 2025 exploration strategy alongside industry-leading joint venture partners.

Smart Lake Joint Venture (Cameco/Purepoint)

• Field crews are currently on site, and drilling is underway at Smart Lake. The program is progressing well and consists of four holes totaling approximately 1,400 metres, targeting three discrete conductors identified during the 2024 ground EM survey of the Groomes Lake corridor.

• These drill targets represent previously untested areas of strong conductivity associated with a favourable structural setting. Drilling is expected to conclude by the end of April.

Dorado Joint Venture (IsoEnergy/Purepoint)

• Following the completion of the Smart Lake program, drilling is scheduled to begin at the Dorado Project in Q2 2025.

• The approved program includes approximately 6,100 metres across 17 holes. Drilling will test a series of graphitic conductors that wrap around a central granitic dome, with target areas prioritized based on a consolidated geological model that now includes both the Turnor Lake and Geiger regions.

• Exploration permits for Edge and Full Moon are in hand, and the Turnor Lake permit amendment has also been approved.

Aurora Joint Venture (IsoEnergy/Purepoint)

• The airborne geophysical survey originally scheduled for early 2025 has been deferred to later this summer. The survey will cover the Collins Bay Extension and is intended to refine shallow targets in proximity to the McClean Lake and Rabbit Lake infrastructure.

Celeste Joint Venture (IsoEnergy/Purepoint)

• Permitting for 2025 exploration is complete for the Celeste Block East region, where initial drilling in late Q3 is planned to test shallow conductor systems. The broader Celeste Block remains in early-stage target development with future drilling subject to additional refinement of geophysical results.

Denare West (Foran Mining/Purepoint)

• In February, the Company reported Foran Mining's completion and interpretation of a VTEM Max airborne EM survey across the Denare West project. Located 9 kilometres southeast of Foran's McIlvenna Bay deposit, the survey identified numerous conductive anomalies consistent with the geologic horizon that hosts other known VMS deposits in the region.

• Results from the airborne EM survey are now being modeled and integrated with historical datasets to prioritize drill targets. Foran continues to advance the project under a $19 million option agreement.

Tabbernor Project (100% Purepoint)

• The recently reported interpretation of the 7,549 line-kilometre FALCON gravity and magnetic survey has defined three priority zones exhibiting gravity low anomalies associated with potential hydrothermal alteration. Planning for the 2025 exploration program is underway, and the required exploration permit has been received. Follow-up work is expected to include boulder sampling, drilling, prospecting, and soil geochemistry.

Purepoint remains committed to advancing its projects through focused exploration and community collaboration as we respond to growing demand for uranium. Further updates will be provided as work progresses.

About Purepoint Uranium Group Inc.

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc., and IsoEnergy Ltd.

Additionally, the Company holds a promising VHMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Corporation's McIlvenna Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.

Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:

Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

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 press 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247032

FAQ

What are the key drilling targets for Purepoint Uranium (PTUUF) at Smart Lake in 2025?

Purepoint Uranium is drilling 4 holes totaling 1,400 metres at Smart Lake, targeting three discrete conductors identified in the 2024 ground EM survey of the Groomes Lake corridor. The program is expected to finish by end of April 2025.

How many drill holes is Purepoint Uranium (PTUUF) planning at the Dorado Project in Q2 2025?

Purepoint Uranium plans to drill 17 holes totaling 6,100 metres at the Dorado Project in Q2 2025, testing graphitic conductors around a central granitic dome in the Turnor Lake and Geiger regions.

What is the status of Purepoint Uranium's (PTUUF) Denare West project with Foran Mining?

Foran Mining completed a VTEM Max airborne EM survey at Denare West, located 9km southeast of McIlvenna Bay deposit. The survey identified conductive anomalies consistent with VMS deposits. Foran is advancing the project under a $19 million option agreement.

What exploration permits has Purepoint Uranium (PTUUF) secured for 2025?

Purepoint has secured exploration permits for Edge, Full Moon, Turnor Lake amendment, and Celeste Block East. The Tabbernor Project permit has also been received for 2025 exploration activities.

What are the priority zones identified in Purepoint Uranium's (PTUUF) Tabbernor Project?

The FALCON gravity and magnetic survey identified three priority zones with gravity low anomalies associated with potential hydrothermal alteration. The 2025 program will include boulder sampling, drilling, prospecting, and soil geochemistry.