PTU.V · 2017-12-06 12:00:00

Purepoint Uranium Closes Final Tranche of $1,200,000 Private Placement

Financings

For Immediate Release – Not for Dissemination in the United States or through U.S. Newswire Services

Toronto, Ontario, December 6, 2017 – Purepoint Uranium Group Inc. (TSXV: PTU) (the “Company”) is pleased to

announce the closing of the final tranche of the previously announced non -brokered private placement for

aggregate gross proceeds of $680,000. In connection with the final tranche closing , the Company issued 6,800,000

Flow-Through Units at a price of $0.10 per unit. Each Flow -Through Unit consists of one common share in the

capital of the Company to be issued on a “flow -through” basis pursuant to the Income Tax Act (Canada) and one

common share purchase warrant. Each warrant entitles its holder to purchase one common share in the capital of

the Company at an exercise price of $0.15 per share for a period of 24 months from the date of issuance. The

closing is subject to final acceptance by the TSX Venture Exchange of the Private Placement.

Together with the first and second tranches of the private placement, the Company is sued a total of 12,000,000

Flow-Through Units for aggregate gross proceeds of $1,200,000.

“The substantial production cuts recently announced by Cameco an d Kazakhstan will undoubtedly result in a

strengthening of uranium prices in the coming year,” said Chris Frostad, President & CEO of Pur epoint U ranium.

“That, in addition to the support of our partners Cameco and AREVA and the advancements of our discoveries in

the Patterson Uranium District signal a strong 2018 for the Company.”

In connection with the final tranche closing, the Company paid finder s’ fees consisting of $33,300 in cash and

issued 333,000 non-transferable compensation warrants. Each compensation warrant entitles its holder to

purchase one common share in the capital of the Company at an exercise price of $0.15 per share for a period of 24

months after the date of issuance.

The net proceeds of the Private Placement will be used to advance the Company’s Hook Lake exploration program

in Saskatchewan. All securities issued in connection with the final tranche closing of the Private Placement are

subject to a four-month hold period pursuant to the applicable securities laws with an expiry date of April 7, 2018.

About Purepoint Uranium Group Inc.

Purepoint Uranium Group Inc. is focused on the precisi on exploration of its seven projects in the Canadian

Athabasca Basin. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium

producers in the world, Cameco Corporation and AREVA Resources Canada Inc. Established in the Athabasca Basin

well before the initial resurgence in uranium earlier last decade, Purepoint is actively advancing a large portfolio of

multiple drill targets in the world's richest uranium region.

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 in formation. 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 ma de and

expressly qualified in their entirety by this notice.

For more information, please contact:

Chris Frostad, President & CEO

Phone: (416) 603-8368

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.