Purepoint Uranium Gr (PUMGF)

Description:

Purepoint Uranium Group Inc., is an uranium exploration company driven by intellectual, precision prospecting focusing on distinct, targeted properties with historic significance in the Canadian Athabasca Basin. It explores for uranium in 11 projects located in the Athabasca Basin in northern Saskatchewan. Saskatchewan's Athabasca Basin provides one third of the world's uranium production credited mainly to that region's unusually high ore grade deposits. The Red Willow property consists of nine claims and covers 25,612 hectares on the eastern edge of the Athabasca Basin. Purepoint operates the Smart Lake project in the Athabasca Basin under the terms of an agreement with Cameco that permits Purepoint to acquire up to a 50% interest in the project. The Smart Lake property includes two claims with a total area of 9,800 hectares situated in the southwestern portion of the Athabasca Basin, approximately 60 km south of the former Cluff Lake mine. The Hook Lake Project was staked by UEM in 1997. It consists of nine claims totaling 28,683 hectares and is situated in the southwestern Athabasca Basin approximately 80 kilometers southeast of the former Cluff Lake mine. The Turnor Lake Project is 100% owned by Purepoint and includes five claims with a total area of 9,705 hectares situated in the eastern plane of the Athabasca Basin. The 100% owned Henday Lake property is 1,752 hectares in size and consists of 5 claims. This property is located nine kilometres northwest of Areva's Midwest Lake deposit (41 million lbs. U3O8) and ten kilometers west of Hathor's Roughrider Zone. The original Umfreville claim block was selected for staking after a reinterpretation of the structural geology and an extensive review of exploration assessment reports was completed. The South Newnham property (1 claim covering 2,885 hectares) was staked by Purepoint because of the presence of the significant N-S Newnham fault coincident with a magnetic low. The 100% owned Red Willow North property, located on the eastern edge of the Athabasca Basin, is 9,996 hectares in size and consists of three claims that cover favourable metasedimentary basement rocks. The 100% owned McArthur East property adjoins Cameco's McArthur River Project, which contains the world's largest high-grade uranium deposit, and is situated due south of the Cigar Lake Mine. The 100% owned Forsythe Lake property consists of 1 claim and covers 4,217 hectares near the north-eastern edge of Canada's Athabasca Basin.