Purepoint Uranium Issues Stock Options

Purepoint Uranium Issues Stock Options

Toronto, Ontario--(Newsfile Corp. - May 29, 2023) - Purepoint Uranium Group Inc. (TSXV: PTU)

(OTCQB: PTUUF) (the "

Company

" or "

Purepoint

") today approved the issuance of a total of

8,850,000 options to its Board of Directors, management and certain staff members pursuant to the

Company's Omnibus Equity Incentive Compensation Plan.

The options are exercisable at a price of

$0.05 per common share and expire on a date that is five years from the date of grant.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates a uranium exploration

pipeline of nine advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture

project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at

Smart Lake, Purepoint also holds seven 100% owned projects with proven uranium rich targets. With an

aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent

uranium explorer in the world's richest uranium district.

For further information please contact:

Purepoint Uranium Group Inc.

Chris Frostad, President and CEO

(416) 603-8368

www.purepoint.ca

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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