Purepoint Uranium Announces AGM Results and Provides Update on its Hook Lake Project
Purepoint Uranium Announces AGM Results
and Provides Update on its Hook Lake Project
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.
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For further information:
Chris Frostad, President & CEO, Phone: (416) 603-8368, Email:
CO: Purepoint Uranium Group Inc.
CNW 06:30e 15-JUL-20