202666 releases
Weekly Tenders Mask Utility Activity
Weekly Uranium Spotlight podcast episode for October 13, 2026 reports spot uranium opened the week at $89.60 per pound U3O8 and closed Friday at $89.80, with five spot deals totalling about 550,000 pounds and the long-term price at $96.00. Year-to-date term contracting stands at 77.7 million pounds versus 44.0 million a year ago. Other items cover Kazatomprom shareholders rejecting a Uranium One supply deal, India's plan to double domestic uranium output by 2036, and Urenco starting a sixth new cascade in New Mexico.
NewsUranium’s Next Threshold
Spot uranium opened the week at $89.85 per pound U3O8 and closed at $89.60, with nine transactions reported, seven on Thursday; the long term price held at a record $96.00 per pound, with offers due this week on several utility tenders including one US utility seeking up to 1.3 million pounds for 2028 to 2032 delivery. The episode also covers New Mexico's gubernatorial race and a state lands exploration ban, Russia's September 12th sulphuric acid export controls, Peninsula Energy shutting in lower grade Lance wells, and Bannerman Energy's completed $294.5 million CNNC financing for Etango in Namibia.
NewsThe Uranium That Can Be Mined At A Reasonable Cost Is Shrinking
The September 22, 2026 episode of the Purepoint Uranium Group–sponsored Uranium Spotlight podcast reports spot U3O8 opened the week at $90.05 per pound and closed at $89.85 on only five tracked transactions, with the long term price held at $96.00 per pound. It reviews the 2026 Red Book, which puts identified resources at about 8 million tonnes of uranium and concludes resources are sufficient but investment insufficient, and covers the U.S. International Development Finance Corporation's approval of up to $414 million for Global Atomic's Dasa project in Niger, where capital costs now total about $777 million.
NewsPurepoint Intersects 7.4 Metres Averaging 8,760 CPS at the Unconformity in First Drill Hole at Q24, Dorado Project
Drill hole PG26-11, the first hole at the Q24 target on the 50/50 Dorado joint venture with IsoEnergy in Saskatchewan's Athabasca Basin, intersected 7.4 metres averaging 8,760 cps from 284.1 to 291.5 metres at the unconformity, including 0.5 metres averaging 38,710 cps, with a maximum probe reading of 50,110 cps. At Q23, hole PG26-10 returned elevated radioactivity including 1.2 metres averaging 1,030 cps. The 2026 summer program completed 3,669 metres across Nova, Q23 and Q24; assays are pending.
Drill resultsUtilities are Assembling Coverage for the Back Half of the Next Decade
A sponsored weekly uranium market podcast episode covering the spot market and industry news. Spot U3O8 opened the week at $89.65 per pound and closed at $90.05 across five reported deals, with the long-term price last published at $96.00; term contracting saw no new awards, though utilities issued requests covering deliveries from 2027 to 2040. Also covered: the World Nuclear Symposium in London from September 9th to 11th, European efforts to replace Russian fuel, and comments from Cameco and Kazatomprom on Eastern demand.
NewsPurepoint Reports Winter 2026 Assays from Dorado JV’s Nova Target
Hole NV26-05 returned 1.65% U₃O₈ over 0.3 metres from 390.4 metres at the unconformity in the 2026 winter drill program at the Nova Target on the 50/50 Dorado Joint Venture with IsoEnergy Ltd., on the eastern margin of Saskatchewan's Athabasca Basin. NV26-03A returned 0.04% U₃O₈ over 3.9 metres from 412.6 metres, including 0.10% U₃O₈ over 0.4 metres, plus 0.79% U₃O₈ over 0.4 metres from 418.2 metres. The nine-hole program intersected mineralization in multiple holes; summer drilling is complete with results to follow.
Drill resultsPurepoint Uranium CEO says utility contracting set to drive next Uranium market surge
In an interview with Proactive, CEO Chris Frostad said many U.S. utilities bought uranium in the mid-to-high US$50 per pound range last year while spot traded in the high US$80s, due to flexibility provisions in older long-term contracts, with major producers reporting realized prices in the high US$60s. He expects contracting to accelerate as legacy contracts expire. Frostad said Purepoint remains active in exploration and drilling and is well-funded.
NewsUranium’s Contracting Freeze: What’s Really Holding Equities Back | Energy Show
Purepoint Uranium President and CEO Chris Frostad discussed uranium market conditions on the Crux Investor Energy Show, noting the long-term price has reached $96 a pound and spot has pushed toward $90 on roughly 400,000 pounds of trading. He attributed weak developer and explorer equity performance to legacy contracts with more than 30% flexibility, citing Cameco's average revenue of about $67 per pound last quarter and Kazatomprom's about $68 for the first half, and average contract size falling from roughly three million pounds in 2023 to a little over one million.
NewsPurepoint Uranium Group Inc. Closes Private Placement
A non-brokered private placement closed with the issuance of 2,648,978 flow-through units at $0.38 per unit for gross proceeds of $1,006,611.64, each unit comprising one flow-through common share and one warrant exercisable at $0.50 for 12 months. Finder's fees of $51,765.12 in cash and 136,224 compensation warrants at $0.50 for 12 months were paid. Net proceeds will fund exploration of the Company's Athabasca Basin projects in Saskatchewan, with securities subject to a hold period expiring December 27, 2026.
FinancingSmaller Share of Eastern Production Reaching Western Hands
The August 25, 2026 episode of the Purepoint-sponsored Uranium Spotlight podcast reports spot uranium rising from $87.40 to $89.30 per pound U3O8 over the week on 5 confirmed transactions totalling 400,000 pounds, with the long-term price at $94.00 per pound at the end of July. Other items include Kazatomprom commissioning the first 500 tonne stage at Zhalpak, Uzbekistan signalling a second nuclear plant, Ireland moving to repeal its 1999 fission ban, and Ur-Energy's first Shirley Basin shipment on August 19.
CorporateUtilities Are Quietly Securing Long-Term Supply As Prices Trend Higher
A sponsored Uranium Spotlight podcast episode dated August 4, 2026 reports spot uranium opening the week at $86.25 per pound U3O8 and closing at $86.45, with the long-term price at $94.00, the 3-year forward at $101.00 and the 5-year forward at $108.00. The EIA's annual report showed U.S. operators bought 46.9 million pounds in 2025, down 16%, at a weighted average $58.46 per pound, with commercial inventories near 170 million pounds. Cameco posted second quarter net earnings of $25 million and kept guidance at 19.5 to 21.5 million pounds.
NewsPurepoint Intersects 5.6 Metres of Continuous Radioactivity at Nova, Peaking at 53,300 CPS
Hole NV26-11 at the Nova Discovery on the Dorado Project, eastern Athabasca Basin, Saskatchewan, intersected 5.6 metres of continuous radioactivity from 337.9 to 343.5 metres averaging 11,730 cps, including 1.7 metres averaging 31,800 cps, 1.1 metres averaging 43,480 cps, and a peak downhole probe reading of 53,300 cps. Four holes were completed in the first phase of the 2026 summer program, testing the Q23 and Nova targets, with assays pending and drilling to resume in two weeks. Dorado is a 50/50 joint venture with IsoEnergy Ltd.
Drill resultsDemand Growth Is Outpacing Mine Development
The July 28, 2026 episode of Purepoint Uranium's sponsored Uranium Spotlight podcast reports spot uranium rising from $85.50 to $86.25 a pound on six transactions totalling 450,000 pounds, with the long-term price unchanged at $94 for July, up nearly 10% since January. It covers Peninsula Energy withdrawing 2026 Lance guidance of 500,000-600,000 pounds, Yellow Cake's holdings of 24.4 million pounds and $10 million buyback, and Paladin's Langer Heinrich output of 4.82 million pounds at $43.30 a pound.
NewsThe Supply Side Of The Ledger Just Got Tighter
Uranium Spotlight, the weekly podcast sponsored by Purepoint Uranium Group, published its July 7, 2026 episode, noting spot uranium closed last week at $84.95 per pound U3O8 after opening at $85.05 in thin holiday trading. It covers the suspension of Orano's McClean Lake mill and Cameco's Cigar Lake mine following a sulfuric acid plant expansion joint failure, with repairs estimated at about two weeks, India's planned uranium supply agreement with Australia, and Peter Ballantyne Cree Nation's withdrawal of its judicial review against Denison's Wheeler River project.
NewsIncentive Price Required To Bring On New Uranium Production Appears To Be Steadily Moving Higher
The June 30, 2026 Uranium Spotlight podcast reports the uranium spot price opened last week at $85.90 per pound U3O8 and closed Friday at $85.05, down $0.85, while the long-term price rose another dollar during June to $94.00 per pound. Canada and the United States have each committed to ten new large-scale reactors, with US$17.5 billion in US loan support for Westinghouse and Cameco. Paladin Energy reported the Atlas discovery at Patterson Lake South, Saskatchewan, including 8.0 metres grading 1.75% U3O8.
CorporateSpot Market Remains Well Supported Even During A Seasonal Slowdown
Summer drilling has begun at the Dorado Project, the 50/50 joint venture with IsoEnergy in Saskatchewan's eastern Athabasca Basin, with seven holes totaling approximately 3,150 metres planned through July and August to test the plunge of the Nova Discovery, where earlier drilling returned up to 8.1% U3O8, and additional conductive targets across the 98,000-hectare package. The weekly Uranium Spotlight podcast also reported the uranium spot price rose $0.95 to $85.90 per pound U3O8, on six transactions totaling 700,000 pounds.
NewsPurepoint Uranium advances uranium exploration at Dorado project
A 2026 summer drill program has begun at the Dorado uranium project, held with partner IsoEnergy across a district covering about 100,000 hectares. The helicopter-supported program consists of seven planned drill holes, with the first three targeting the Nova Zone and the remaining four testing a nearby zone; drilling will extend into August. Earlier drilling at Nova returned uranium mineralization grading up to 8% and extended mineralization about one kilometre. A mobile MT survey across the property is complete, with results expected in coming weeks.
Drill resultsPurepoint Commences Summer Drill Program at Dorado, Targeting Expansion of the High-Grade Nova Uranium Discovery
Drilling has begun on a fully funded summer 2026 program at the Dorado Project in Saskatchewan's eastern Athabasca Basin, a 50/50 joint venture with IsoEnergy. Seven holes totaling approximately 3,150 metres are planned through July and August 2026, testing the interpreted plunge of the Nova Discovery, step-outs toward the unconformity, and untested conductive targets. Previous drilling at Nova returned assays up to 8.1% U3O8; the nine-hole winter program intersected over 500 cps in all holes with a peak of 73,100 CPS, assays pending.
Drill resultsThe Underlying Supply-Demand Balance Continues to Tighten
The June 16, 2026 edition of the Purepoint-sponsored Uranium Spotlight podcast reports the uranium spot price closed last week at $84.95 per pound U3O8, with about 500,000 pounds traded across seven transactions, and the long-term price at $93.00 per pound. Spot volumes reached nearly 26.8 million pounds U3O8 equivalent through May, up 24 percent year over year. The episode also covers India's 100 GW by 2047 nuclear target, Energy Fuels' White Mesa Mill output, and John Borshoff joining Forsys Metals.
NewsRoughly 70% of Utilities Looking Ahead are Already Contracting at Triple Digit Prices
The June 9, 2026 Uranium Spotlight podcast episode reports uranium spot closed last week at $85.00 per pound U₃O₈, down $1.10, with the long term price at $93.00, three year forward at $100.00 and five year forward at $107.00 per pound. Cameco's Grant Isaac said new long term contract midpoints are at or above $120 per pound and roughly 70% of utilities looking to 2027 are contracting at triple digit prices. It also covers a China–Russia uranium cooperation agreement and Japan's restart of about 14 reactors.
NewsPurepoint Uranium highlights value of major mining partnerships in advancing Uranium exploration
CEO Chris Frostad discussed, in a Proactive Investors video interview, the role of joint ventures between junior explorers and major mining companies in uranium exploration, citing Purepoint's partnerships with Cameco, Orano and IsoEnergy. He pointed to the Hook Lake and Smart Lake projects in Saskatchewan's Athabasca Basin, where Purepoint provides exploration expertise and local operational knowledge while larger partners supply funding and technical capabilities. He noted junior partners must continually demonstrate results to compete for capital within major companies' portfolios.
CorporateUtilities continue to recognize the growing challenges of securing future supply
Uranium spot opened the week at $84.35 per pound U3O8, closed Friday at $85.00 and reached $86.10 by June 2, a weekly gain of $2.75, while the long term price rose to $93.00 in May. May saw 52 spot transactions totaling about 4.0 million pounds U3O8 equivalent and five utility term awards exceeding 10.5 million pounds. Cameco and Orano acquired TEPCO's 5% interest in the Cigar Lake Joint Venture, lifting Cameco to over 57% and Orano to over 42%.
NewsTerm Market is Sending a Strong Signal About Future Uranium Scarcity and Utility Urgency
The May 26, 2026 edition of the Purepoint-sponsored Uranium Spotlight podcast reports spot uranium closed last week at $84.35 per pound U3O8, down from $85.10, while May's long term price rose $3 to $93 per pound, with three and five year forward prices at $100 and $107. Other items include Niger revoking Orano's rights to the Arlit deposit, the proposed NextEra–Dominion Energy merger covering 15 reactors, India's plan to recover uranium from copper tailings, and Premier American Uranium's 100,000 foot Kaycee drill program in Wyoming and Cebolleta metallurgical work in New Mexico.
NewsWhile short term spot pricing remains volatile, the long term contracting cycle continues to deepen
The May 19, 2026 episode of the Purepoint-sponsored Uranium Spotlight podcast reports the uranium spot price closed last week at $86.05 per pound U3O8 after opening at $85.85, with 15 spot transactions covering just over one million pounds, and the indicator falling to $85.10 by Monday. It also covers the U.S. authorizing the Office of Energy Dominance Financing to direct hundreds of billions toward nuclear, targeting 400 gigawatts by 2050, and Global Atomic re-establishing a C$50 million at-the-market equity program for its Dasa project in Niger.
NewsPurepoint Uranium highlights data-driven exploration strategy for drill targeting in Athabasca Basin
A video interview with CEO Chris Frostad outlines the company's exploration approach in the northern Athabasca Basin, which integrates geophysics, geological mapping, structural interpretation and MobileMT surveys to select drill targets. At the Dorado Project, work evaluates geological complexity, structural deformation, graphitic conductors and lithological contacts. Additional MobileMT surveys around the Nova discovery area are providing subsurface imaging to interpret geological trends that may connect to IsoEnergy Ltd.'s nearby Hurricane Deposit and prioritize drill targets.
CorporateSpot Market is Quiet, But Term Market Continue To Show Steady Utility Interest
The May 5, 2026 Uranium Spotlight podcast update reports the uranium spot price closed the week at $86.05 per pound U3O8, down 40 cents from $86.45, with the long-term price unchanged at $90.00; only four spot transactions were confirmed, while April saw 44 transactions totaling about 4.0 million pounds and year-to-date activity reached 226 transactions for 23.2 million pounds U3O8 equivalent. The update also covers Ur-Energy's Shirley Basin restart in Wyoming, Lotus Resources' Kayelekera output of 78,310 pounds, and Boss Energy's reduced fiscal 2026 guidance of 1.4 to 1.45 million pounds.
NewsSpot Pricing Remains Resilient, Even When Day to Day Activity Softens
Uranium spot closed last week at $86.45 per pound U3O8, up from $85.00, with the April long term price unchanged at $90.00; 15 spot transactions covering just over 1.2 million pounds were reported, and SPUT raised more than $118 million between April 13 and last Thursday. Purepoint completed integrated MobileMT and 3D structural modelling at Celeste East, Russell South and Tabbernor in the Athabasca Basin, and plans expanded MobileMT at Dorado and Henday Lake ahead of a June 2026 drill campaign.
NewsPurepoint Applies Integrated 3D Modelling to Advance Uranium Targeting and Deploys Expanded MobileMT Program at Dorado
Airborne MobileMT surveys and 3D structural modelling by Expert Geophysics have been completed at the Celeste East, Russell South and Tabbernor projects in the Athabasca Basin, defining a folded conductive system with hinge zones at Celeste East, resolving basement structures beneath a shallow conductive layer at Russell South, and ranking conductive corridors at Tabbernor. Expanded MobileMT surveys will commence later this month at the Dorado and Henday Lake projects, ahead of a planned June 2026 drill campaign at Dorado.
Drill resultsSpot Prices Push Higher On Renewed Buying
Uranium spot closed last week at $86.80 per pound, up $1.90 from $85.00, with Sprott Physical Uranium Trust raising more than $70 million and buying 600,000 pounds across a week that saw 17 transactions. Uranium Royalty Corporation agreed to acquire Sweetwater Royalties for $1.1 billion, with Orion Resource Partners holding about 43% of the combined entity. Paladin Energy raised Langer Heinrich guidance to 4.5–4.8 million pounds for fiscal 2026, and enCore Energy appointed Richard Little CEO.
NewsPurepoint Uranium Announces Grant of Restricted Share Units
2,000,000 restricted share units have been approved for issuance to directors of Purepoint Uranium Group Inc. under the Company's Omnibus Equity Incentive Compensation Plan. The RSUs vest one year from the grant date and expire on December 28, 2029, with each RSU entitling the holder to one common share upon vesting.
CorporatePurepoint Uranium expands Nova discovery at Dorado Project with strong winter drill results
The winter 2026 drill program at the Nova Discovery on the Dorado Joint Venture Project in Saskatchewan's Athabasca Basin comprised 5,210 metres across nine holes, extending uranium mineralization and the associated geological contact to approximately one kilometre of strike length. Downhole probe readings peaked at 73,100 counts per second, following previously reported assays of up to 8.1% U₃O₈; winter assays are pending. Purepoint operates the 50/50 joint venture with IsoEnergy. Regional drilling is expected to resume in late June 2026, with an airborne MobileMT survey planned for spring.
Drill resultsEven Minimal Buying Pressure is Enough to Move Prices Higher In A Thin Market
The April 14, 2026 Uranium Spotlight podcast episode reports the uranium spot price closed last week at $85.00 per pound, up from $84.55, on five transactions totaling roughly 425,000 pounds, with no new term contracts reported. It also covers Orano's exploration licenses over approximately 15,000 square kilometres in Botswana and the startup of Uranium Energy Corp's Burke Hollow ISR operation in Texas. Purepoint's winter program at the Nova Discovery, Dorado Project, drilled nine holes totaling just over 5,200 metres, with six mineralized, including 17,700 CPS over 1.8 metres and a peak of 73,100 CPS.
NewsPurepoint Uranium Reports 73,100 CPS Peak within 17,700 CPS Average over 1.8 Metres at Nova Discovery
Nine holes totalling 5,210 metres were completed in the winter 2026 drill program at the Nova Zone of the Dorado joint venture project in Saskatchewan's Athabasca Basin, with six holes intersecting uranium mineralization on downhole radiometric probe. Standout intervals were NV26-05 at 17,700 CPS over 1.8 metres, including 61,100 CPS over 0.3 metres, and NV26-03A at 10,600 CPS over 1.7 metres; program peak was 73,100 CPS. Assays are pending and drilling resumes late June 2026, with a MobileMT airborne survey this spring.
Drill resultsPurepoint Uranium charts its own course in the Athabasca Basin
Initial 2025 drilling at the Dorado project in the Athabasca Basin, held in a 50/50 partnership with IsoEnergy and adjacent to IsoEnergy's Hurricane deposit, intersected high-grade uranium mineralization at the Nova discovery, with Purepoint as operator. About $5 million was spent at Dorado last year, with roughly $6 million planned this year for geophysical target refinement and drilling. CEO Chris Frostad cited spot uranium prices that briefly touched $101.55 earlier this year.
NewsPurepoint Uranium updates on Dorado discovery and exploration strategy
An interview with CEO Chris Frostad covers exploration progress at the Dorado project in northern Saskatchewan, where initial drilling in the Nova zone intersected high-grade uranium mineralization. Additional drilling is underway to expand on the initial findings and determine the direction and continuity of the uranium system, with the aim of defining the scale and orientation of the mineralized system. The company works with partners including Cameco, Orano and ISOEnergy.
Drill resultsA Softer But Active Spot Market
The March 24, 2026 edition of the Purepoint-sponsored Uranium Spotlight podcast reports the uranium spot price closed last week at $83.75 per pound U3O8, down from an opening $85.50, with eight spot transactions totalling 750,000 pounds for prompt delivery and March volume at just over 3.1 million pounds across 25 transactions. The February month-end long-term price was $90 per pound. Coverage also included Uranium Energy Corp's Wyoming and Texas operations and conversion licensing, and Kazatomprom's 11 percent 2025 sales volume increase and rising C1 cash costs.
NewsGovernments Around The World Are Accelerating Nuclear Construction
The March 17, 2026 episode of the Purepoint-sponsored Uranium Spotlight podcast reports the uranium spot price opened at $86.80 per pound U3O8 and closed Friday at $85.50, down $1.30, with six deals totalling 350,000 pounds at Cameco and Orano delivery points. Enrichment saw only seven spot transactions in 2025 for 395,000 SWU, while 24 long-term contracts covered 36.5 million SWU and spot enrichment ended 2025 at $200 per SWU. Policy moves included France's financing framework for six EPR2 reactors and the U.S. DOE's UPRISE initiative.
NewsPurepoint Uranium eyes high-grade Athabasca hits amid rising uranium prices
A winter drill campaign targeting roughly 40 holes to depths of about 300 metres began in late January at the Dorado project in the northern Athabasca Basin, Saskatchewan, and is expected to run through late March or early April, with further drilling planned for the summer. Dorado is part of a nearly 100,000-hectare land package held under a 50-50 joint venture with IsoEnergy, operated by Purepoint. CEO Chris Frostad said the company holds around nine to ten regional projects and deploys $5 million to $15 million into exploration annually.
Drill resultsPurepoint Uranium (TSXV:PTU) - Joint Venture Strategy Drives Saskatchewan Exploration
A 4,500-metre winter drill program at the Dorado project, a 50-50 joint venture with IsoEnergy in Saskatchewan's Athabasca Basin, resumed in January 2026 following summer 2025 drilling that intersected high-grade mineralisation in four holes across five to six targets, with results expected through the year. Purepoint operates 9-10 projects with Cameco, Orano and IsoEnergy, including 27% of Smart Lake and 21% of Hook Lake, host to the 15-20 million pound Spitfire discovery. It expects to deploy about $8 million in 2026 and potentially $16 million in 2027.
AcquisitionThe Steady Grind Higher In The Long-Term Price Is An Important Signal
The February 24, 2026 edition of the Purepoint Uranium-sponsored Uranium Spotlight podcast reports spot uranium closing last week at $89.05 per pound U3O8, down from the prior week's $89.75 open, with the long-term price up $2.00 in February to $90 per pound. It also covers Kazatomprom's extraordinary shareholder meeting for a U3O8 sale to India's Department of Atomic Energy, Niger's plan to return 63.4 percent of seized stockpile to Orano and sell over 2 million pounds, Denison's Phoenix and Paladin's Patterson Lake South approvals, and Orano's 2025 revenue of €5.14 billion.
NewsSpot Remains Highly Sensitive To Marginal Buying
The February 17, 2026 edition of the Purepoint-sponsored Uranium Spotlight podcast reports spot uranium opening the prior week at $85.70 per pound U3O8 and closing at $89.75, with Yellow Cake placing shares to exercise its 2026 Kazatomprom option at $86.15 per pound for about 1.16 million pounds, funding due February 25. It also covers CNNC's binding 45 percent subscription in Bannerman Energy, Niger returning 209 million pounds of U3O8 to Orano, Adani Power's nuclear subsidiary, and Cameco and Paladin results.
NewsUranium Juniors Drilling Like Never Before as Market Fundamentals Strengthen
Market commentary from Purepoint Uranium CEO Chris Frostad describes 100,000-110,000 metres of uranium drilling planned across the sector in 2026, funded by $420-450 million raised over the past six months, including $300 million in the last three months. Long-term uranium prices have risen from $80 to about $86 and spot has reached $88.50. Purepoint is drilling 7,500 metres in partnership with IsoEnergy in the Athabasca Basin, Saskatchewan, representing $6 million in ground expenditure.
Drill resultsUranium Prices Step Higher As Availability Tightens
The weekly Uranium Spotlight podcast, sponsored by Purepoint, reports the uranium spot price closed last week at $87.15 per pound U₃O₈, up from $85.40, with the long-term price ending January at 86.00 per pound, up 2.00 from the prior month. Other items covered include a uranium concentrate shipment from Niger held at Niamey's airport, the Industrial Development Corporation of South Africa's plan to divest its 10.2 percent Rossing stake, Mark Carney's planned early-March India trade trip, and Laramide Resources exiting Kazakhstan exploration after subsoil law changes requiring 75 to 90 percent state ownership.
NewsPurepoint Commences 2026 Drilling Program At Dorado Following Nova Uranium Discovery
Drilling has begun on the 2026 winter program at the Dorado Project in the eastern Athabasca Basin, a 50/50 joint venture with IsoEnergy Ltd. The program includes up to 10 holes totalling approximately 4,300 metres, targeting 30 to 50 metre step-outs along an 800-metre strike between holes PG25-03 and PG25-07A to expand the Nova Discovery, which returned 8.1% U3O8 over 0.4 metre within 2.1 metres of 1.6% U3O8. An airborne magnetotellurics survey and helicopter-supported summer drilling are also planned.
Drill resultsUranium Prices Continue To Firm
The January 20, 2026 edition of the Purepoint-sponsored Uranium Spotlight podcast reports the uranium spot price closed last Friday at $85.40 per pound, up from $82.55 the prior week. It covers Namibia and Russia fast-tracking a civil nuclear cooperation agreement, German Chancellor Friedrich Merz calling the country's nuclear exit a huge mistake, and US passage of the Energy and Water Act. NexGen Energy increased the vertical extent of its Patterson Corridor East high-grade subdomain 23% to 412 metres and launched a 45,500 metre 2026 program.
NewsSpot Prices Continue To Firm In A Thin Market
The January 13, 2026 episode of the Purepoint-sponsored Uranium Spotlight podcast reports the uranium spot price closed last week at $82.55 per pound U₃O₈, up from $82.00, with long-term prices unchanged and thin spot liquidity. Meta announced agreements to secure 6.6 gigawatts of nuclear power by 2035 with Oklo, TerraPower and Vistra. Illinois ended its moratorium on new reactor construction, New York committed to five additional gigawatts, and Sprott added 100,000 pounds of U₃O₈ via spot purchases.
NewsUranium Entered 2026 With Clear Upward Momentum Driven By Fundamentals, Not Excitement
The January 6, 2026 episode of the Purepoint-sponsored Uranium Spotlight podcast reports uranium spot prices closed Friday at 82.00 per pound, up from 77.00 before mid-December, with long-term prices in the mid-80s. It covers Kazakhstan's new subsoil law requiring Kazatomprom to hold at least 90 percent of extended uranium joint ventures and 75 percent of new ones, Niger's agreement with Rosatom subsidiary Uranium One, India's SHANTI nuclear liability reform, and Denison Mines' construction-ready Phoenix ISR project in Saskatchewan at roughly 600 million Canadian dollars, with first production targeted for mid-2028.
NewsPurepoint Uranium Announces Grant of Options and Restricted Share Units
1,223,600 restricted share units were approved for issuance to directors and officers, along with 230,000 options to certain employees, under Purepoint Uranium's Omnibus Equity Incentive Compensation Plan. The options are exercisable at $0.47 per share, expire five years from the grant date, and vest in three equal instalments, the first immediately and the others on January 5, 2027 and January 5, 2028. The RSUs vest one year from grant and expire December 28, 2029.
Corporate
202525 releases
Purepoint and IsoEnergy Joint Venture Approves 2026 Program to Advance the Nova Discovery at the Dorado Project
The Purepoint–IsoEnergy 50/50 joint venture has approved a 2026 exploration program at the Dorado Project in the Athabasca Basin, comprising 17 holes totalling 7,450 metres. A winter campaign from January to March will drill 10 holes for about 4,300 metres to expand the Nova discovery, which returned 8.1% U3O8 over 0.4 metre within 2.1 metres of 1.6% U3O8 in hole PG25-07A, followed by 7 holes for about 3,150 metres in July and August. An airborne magnetotellurics survey is planned for late winter or spring.
Drill resultsPurepoint Completes First Pass Drilling at Tabbernor Project
A first-pass drill program at the 100%-owned Tabbernor Project on the southeastern edge of Saskatchewan's Athabasca Basin has been completed, totalling 1,741 metres across five diamond drill holes targeting a 60-kilometre corridor of graphitic conductors. All five holes intersected graphite and four intersected zones of structural disruption, with shearing, brecciation and silicification recorded; assays for all holes are pending. Purepoint also approved the issuance of 975,000 options to directors and officers at $0.52 per share, expiring five years from grant.
Drill resultsPurepoint Commences First-Pass Drilling At District-Scale Tabbernor Project
A first-pass 1,500-metre drill program has begun at the 100%-owned Tabbernor Project on the southeastern edge of Saskatchewan's Athabasca Basin. Five drill targets will be tested across two of three high-priority areas within a 60-kilometre corridor of graphitic conductors, identified through airborne VTEM, MobileMT, gravity and soil geochemical surveys. Tabbernor comprises 23 contiguous claims covering 51,670 hectares, roughly 40 kilometres south of Cameco's Eagle Point deposit, and has never been drill tested for uranium.
Drill resultsIsoEnergy and Purepoint Intersect Up To 8.1% U₃O₈ At Dorado Project
Drill hole PG25-07A at the Nova discovery zone on the 50/50 IsoEnergy–Purepoint Dorado Project, southeastern Athabasca Basin, Saskatchewan, returned 2.1 metres grading 1.6% U₃O₈, including 0.4 metres at 8.1% U₃O₈, plus a further 4.9 metres at 0.52% U₃O₈ including 0.4 metres at 2.9% U₃O₈. The summer program completed 5,030 metres in 11 holes before wildfires curtailed the planned 5,400-metre program; drilling at the Celeste project was deferred. Follow-up drilling is planned for early 2026.
Drill resultsPurepoint Uranium Closes Final Tranche of $6 Million Private Placement
The final tranche of Purepoint Uranium's private placement closed, comprising 5,768,824 Saskatchewan charity flow-through units at $0.65 for gross proceeds of $3,749,735.60 and 3,041,295 national charity flow-through units at $0.59 for $1,794,364.05, bringing total gross proceeds with the August 29, 2025 first tranche to $6,000,137.79. Each unit includes one share and one warrant exercisable at $0.50 for 24 months. IsoEnergy acquired 2,531,646 SK units and now holds about 12.57% of Purepoint on a non-diluted basis. Proceeds will fund exploration in the Athabasca Basin, Saskatchewan.
FinancingPurepoint Uranium Sets Final Size of Private Placement at $6 Million
The final size of the previously announced non-brokered flow-through private placement has been set at $6,000,000, with the book fully subscribed. It comprises 3,846,154 Saskatchewan flow-through units at $0.65 for $2,500,000, 4,479,757 national flow-through units at $0.59 for $2,643,057, and up to 1,452,446 traditional flow-through units at $0.59 for up to $856,943, each unit including a warrant exercisable at $0.50 for 24 months. Proceeds fund Athabasca Basin, Saskatchewan exploration; closing targeted on or around August 28, 2025.
FinancingPurepoint Uranium Increases Flow-Through Private Placement to $5,000,000
A previously announced non-brokered private placement has been increased from $3,000,000 to $5,000,000. The offering comprises Saskatchewan flow-through units at $0.65 and national and traditional flow-through units at $0.59, each with one warrant exercisable at $0.50 for 24 months. Joint venture partner IsoEnergy Ltd., holder of 10.6% of Purepoint's shares, intends to invest $1,000,000. Proceeds will fund Canadian Exploration Expenses on the Company's Athabasca Basin, Saskatchewan properties, renounced effective no later than December 31, 2025.
FinancingPurepoint Uranium Announces $3 Million Charity Flow-Through Private Placement
A non-brokered private placement for gross proceeds of up to $3,000,000 has been launched, comprising Saskatchewan flow-through units at $0.65 and national flow-through units at $0.59, each unit including one flow-through common share and one warrant exercisable at $0.50 for 24 months. Proceeds will fund Canadian Exploration Expenses on the Company's Athabasca Basin, Saskatchewan properties, with renunciation effective no later than December 31, 2025. Closing is subject to regulatory and corporate approvals, including TSX Venture Exchange listing approval.
FinancingIsoEnergy and Purepoint Report Assay Grades of up to 5.4% U₃O₈ from Initial Holes at the Nova Discovery on the Dorado JV
Initial assays from the first two discovery holes at the Nova Discovery on the 50/50 IsoEnergy–Purepoint Dorado JV in Saskatchewan's Athabasca Basin returned 2.2% U₃O₈ over 1.0 metre, including 5.4% U₃O₈ over 0.3 metres, in PG25-05, and 1.0% U₃O₈ over 0.6 metres in PG25-04. Assays are pending for PG25-07, which recorded radioactivity peaking at 110,800 cps. Eight diamond drill holes were completed in the summer program, with follow-up drilling northeast planned for winter.
Drill resultsIsoEnergy and Purepoint Extend High-Grade Mineralization at the Dorado JV with a 70 Metre Step-Out Peaking at 110,800 CPS
Drill hole PG25-07A at the Q48 target on the 50/50 Dorado joint venture with IsoEnergy in Saskatchewan's Athabasca Basin averaged 11,100 counts per second over 14.0 metres, including 82,300 cps over 0.6 metres with a peak of 110,800 cps, stepping out about 70 metres northeast of the PG25-05 Nova Discovery intercept and 60 metres below the unconformity. Assays from PG25-04 and PG25-05 are pending. The rig has moved to the Turaco target, 8 km northeast, where up to four holes are planned within the approved 5,400-metre 2025 program.
Drill resultsIsoEnergy and Purepoint Confirm Uranium Discovery In Initial Drilling at the Dorado Joint Venture Project
Initial drilling at the Q48 target on the 50/50 IsoEnergy–Purepoint Dorado project in Saskatchewan's Athabasca Basin intersected uranium mineralization in two holes. Downhole gamma probe readings averaged 11,050 cps over 3.7 metres with a maximum of 74,800 cps in PG25-04, and 27,750 cps over 2.3 metres with a maximum of 79,800 cps in PG25-05, hosted in clay-altered basement rocks. A third hole is underway, with about 5,400 metres in 18 holes planned for 2025.
Drill resultsPurepoint Uranium Group Inc. Closes $1 Million Private Placement
A non-brokered private placement closed with 4,607,200 flow-through units issued at $0.23 per unit for gross proceeds of $1,059,656, each unit comprising one flow-through common share and one-half warrant exercisable at $0.30 for 24 months. Finders' fees of $62,378.76 in cash and 271,212 compensation warrants exercisable at $0.23 were paid to Red Cloud Securities and Accilent Capital Management. Net proceeds will fund exploration of Purepoint's Athabasca Basin projects in Saskatchewan; securities are subject to a hold period expiring October 18, 2025.
FinancingPurepoint Announces Amendment of Omnibus Equity Incentive Compensation Plan
Shareholders approved an amendment to Purepoint Uranium's Omnibus Equity Incentive Compensation Plan at the annual and special meeting held May 28, 2025. The amendment increases the common shares reserved for grants of restricted share units and performance share units from 3,688,894 to 6,426,776, representing 10% of the issued and outstanding shares as of that date. The amended plan includes a 10% rolling option plan plus a fixed plan reserving 6,426,776 shares for RSUs and PSUs.
CorporatePurepoint Completes Initial Drill Program Along Groomes Lake Conductive Corridor at Smart Lake JV
An initial drill program at the Smart Lake Joint Venture in Saskatchewan's Athabasca Basin has been completed, with 1,264 metres of diamond drilling in three holes testing all three Groomes Lake EM conductors. No uranium mineralization was intersected, but all three holes cut graphitic shear zones and structural complexities, with the central EM conductor showing the strongest deformation; testing that conductor at the unconformity is now the top priority target. Smart Lake is held by Cameco (73%) and Purepoint (27%).
Drill resultsPurepoint Mobilizing for Summer Uranium Drill Program at Dorado Project - Eastern Athabasca Basin
Mobilization is underway for a summer drill program at the Dorado Project in Saskatchewan's eastern Athabasca Basin, part of the Purepoint-IsoEnergy 50/50 joint venture, with drilling to begin on or about May 26, 2025. The campaign comprises approximately 5,400 metres across 18 holes targeting EM conductors in the Dorado Graphitic Domain, starting along the Q2 conductor near historic holes HL-50 (2.3% U3O8 over 0.6 metres) and HL-76 (0.65% U3O8 over 0.1 metres). Results from the Smart Lake JV winter program with Cameco, three holes, are pending.
Drill resultsPurepoint Uranium Announces Flow-Through Private Placement
A non-brokered private placement of up to 4,347,826 flow-through units at $0.23 per unit for gross proceeds of up to $1,000,000 was announced, with each unit comprising one flow-through common share and one-half warrant exercisable at $0.30 for 24 months. Red Cloud Securities Inc. is acting as finder. Proceeds will fund exploration on Purepoint's Athabasca Basin projects in Saskatchewan, with Canadian Exploration Expenses renounced effective no later than December 31, 2025.
FinancingBTV Features Purepoint Uranium: Backed by Industry Leaders in Canada's Athabasca Basin
A three-minute BTV video feature on Purepoint Uranium was broadcast on BNN Bloomberg, CNBC, FOX Business News, Reuters, The Globe and Mail and other outlets. The company holds six joint venture uranium exploration projects in Saskatchewan's Athabasca Basin, with partners including Cameco, Orano, IsoEnergy and Foran Mining.
NewsPurepoint Uranium Provides Q2 Corporate Update on Exploration Activities
Drilling is underway at the Smart Lake JV (Cameco/Purepoint) in the Athabasca Basin, with four holes totalling approximately 1,400 metres testing three conductors in the Groomes Lake corridor, expected to conclude by the end of April. Drilling at the Dorado JV (IsoEnergy/Purepoint) is scheduled to begin in Q2 2025 with approximately 6,100 metres across 17 holes, while initial Celeste Block East drilling is planned for late Q3. The Aurora JV airborne geophysical survey has been deferred to later this summer.
CorporatePurepoint Uranium Commences Initial Drill Program Along Groomes Lake Conductive Corridor, Smart Lake JV Project
A first-pass drill program has begun along the Groomes Lake Conductive Corridor at the Smart Lake JV project in Saskatchewan's Athabasca Basin, comprising four diamond drill holes totalling approximately 1,400 metres to test conductors refined by a 2024 ground EM survey that outlined three parallel conductors about 100 metres apart over more than 2.2 kilometres. Smart Lake is a joint venture between Cameco Corporation (73%) and Purepoint (27%), spanning 9,860 hectares. Prior hole SMT08-05 returned 147 ppm U over 15.4 metres.
Drill resultsPurepoint Uranium Reports Results from Tabbernor Project Geophysical Survey
A 7,549 line-kilometre airborne FALCON gravity and magnetic survey by Xcalibur Smart Mapping over the 81,817-hectare, 100%-owned Tabbernor Project near the southeastern edge of Saskatchewan's Athabasca Basin identified three high-priority exploration zones with gravity low anomalies. Previous airborne electromagnetic surveys defined over 70 kilometres of EM conductors, including the 57-kilometre Central Conductive Trend. Summer 2025 plans include prospecting, boulder sampling and soil geochemistry to guide follow-up ground geophysics and diamond drilling.
Drill resultsPurepoint Refines High-Priority Targets and Prepares for Drilling at Smart Lake JV Project
Ground electromagnetic surveys at the Smart Lake JV project in the Southwest Athabasca Basin, Saskatchewan — a joint venture between Cameco Corporation (73%) and Purepoint (27%) — outlined three discrete parallel EM conductors roughly 100 metres apart extending over 2.2 kilometres along the Groomes Lake Conductor. The SWMLTEM and FLTEM survey, run in November and December 2024, covered 31.5 line-kilometres across 19 loops on 12 lines spaced 600 metres apart. Drilling is scheduled to begin in mid-March, following 2008 hole SMT08-05, which returned 147 ppm U over 15.4 metres (153.0 to 168.4 metres).
Drill resultsPurepoint Announces Results of Foran-Funded Airborne Survey at Denare West, on Trend with McIlvenna Bay Project
A VTEM Max airborne electromagnetic survey has been completed by Foran Mining over the Denare West VMS project in the Hanson Lake area of eastern Saskatchewan, about 9 kilometres from Foran's McIlvenna Bay Cu-Zn-Au deposit. Initial results are presented as Tau decay time constant, and Foran will model the data before integrating it with geological, geophysical and geochemical datasets. Denare West comprises 10 claims covering 21,066 hectares and is operated by Foran under a $19 million option agreement with Purepoint.
Drill resultsIsoEnergy and Purepoint Announce 2025 Plans for Joint Venture
A $5,000,000 budget has been set for the 2025 exploration program of the newly formed 50/50 joint venture between IsoEnergy and Purepoint, covering over 98,000 hectares and 10 uranium projects consolidated into three areas in Saskatchewan's eastern Athabasca Basin: the Dorado Project, Aurora Project and Celeste Block. Approximately 5,400 metres in 18 drill holes are planned at Dorado and 800 metres in 4 holes at Celeste Block's Madison, with an airborne geophysical survey planned at Aurora. Purepoint will operate the program.
AcquisitionPurepoint Uranium Project Update
An exploration update across Purepoint's Athabasca Basin, Saskatchewan portfolio: a TEM survey was completed in December at the Cameco/Purepoint Smart Lake joint venture, with diamond drilling of the northern Groomes Lake conductor scheduled to begin in late March. At the IsoEnergy joint venture, drilling is expected to start in Q2 2025 and an NI 43-101 technical report on Geiger will be filed later in Q2 2025. Hook Lake work will target the Lightning Zone discovery and the northern extension of NexGen's Patterson East trend. A 7,549 line-km airborne FALCON gravity survey was flown at Tabbernor in 2024, with results pending.
CorporateIsoEnergy Exercises Put Option to Strengthen Partnership with Purepoint
IsoEnergy has exercised its put option under the companies' joint venture, announced December 19, 2024, transferring 10% of IsoEnergy's JV interest to Purepoint in exchange for 4,000,000 Purepoint common shares. This creates a 50/50 ownership structure across 10 uranium projects covering over 98,000 hectares in the eastern Athabasca Basin. IsoEnergy now holds 7,333,334 PTU shares and 3,333,334 warrants, about 11.41% non-diluted and 15.78% partially diluted.
News
202415 releases
Purepoint Uranium Group Inc. Closes $1,000,000 Private Placement and Engages Red Cloud for Liquidity Services
A non-brokered private placement closed with the issuance of 2,857,157 flow-through units at $0.35 per unit for gross proceeds of $1,000,004.95, each unit including one warrant exercisable at $0.40 for 24 months. Finder's fees of $45,000.90 cash and 128,574 compensation warrants were paid; securities are subject to a four-month hold expiring April 24, 2025. Net proceeds will fund exploration of the Company's Athabasca Basin projects in Saskatchewan. Red Cloud Securities Inc. was retained for liquidity services at $5,000 per month, subject to regulatory approval.
FinancingIsoEnergy and Purepoint Uranium Complete Joint Venture
A joint venture with IsoEnergy Ltd. has been implemented, consolidating 10 uranium projects covering over 98,000 hectares in the eastern Athabasca Basin, Saskatchewan, held 60% by IsoEnergy and 40% by Purepoint. Put/call options exercisable within six months could move 10% of IsoEnergy's interest to Purepoint for 4,000,000 Purepoint shares, creating a 50/50 split; IsoEnergy then has an option, expiring February 28, 2026 or 60 days after a material discovery, to buy a further 1% for $2 million. Purepoint will operate during exploration, with IsoEnergy taking over at pre-development.
AcquisitionPurepoint Uranium Identifies New Exploration Targets at Russell South With Recent Airborne Geophysical Results
Eight high-priority exploration targets have been identified at the 100%-owned Russell South project in Saskatchewan's Athabasca Basin following interpretation of two airborne surveys: a VTEM Plus survey by Geotech Ltd. and a MobileMT survey by Expert Geophysics Ltd. The original Akal and Amber targets were refined into four smaller zones, and two new target areas were added. A high-resolution airborne magnetic survey is scheduled to begin late spring 2025 to further refine drill targets.
Drill resultsPurepoint Uranium and Cameco Approve 2025 Drill Program for Smart Lake Joint Venture
A $1.2 million drilling program has been approved for 2025 at the Smart Lake JV Project in the southwestern Athabasca Basin, Saskatchewan, covering approximately 2,500 metres of diamond drilling targeting the northern Groomes Lake conductor. A 39-line-km transient electromagnetic survey is underway and due for completion by year-end to refine drill targets. Smart Lake is owned by Cameco (73%) and Purepoint (27%), with Purepoint as operator; 2008 hole SMT08-05 returned 147 ppm U over 15.4 metres.
Drill resultsPurepoint Uranium Group Inc. Closes $2,200,000 Private Placement
A non-brokered private placement closed with 7,333,331 units issued at $0.30 per unit for gross proceeds of $2,200,000, each unit comprising one common share and one warrant exercisable at $0.40 for 36 months. IsoEnergy Ltd. subscribed for 3,333,334 units ($1,000,000) as a condition of forming the previously announced joint venture covering 10 projects over more than 98,000 hectares in the eastern Athabasca Basin, giving it about 5.81% of shares non-diluted. Finders' fees of $53,699.96 cash and 178,999 compensation warrants were paid.
FinancingPurepoint Uranium Increases Private Placement to $2,200,000
The size of the previously announced non-brokered private placement, first reported on October 22, 2024, has been increased from $2,000,000 to $2,200,000 to accommodate strategic new shareholders. Up to 7,333,333 units are issuable at $0.30 per unit, each comprising one post-consolidation common share and one warrant exercisable at $0.40 for 36 months. Effective November 20, 2024, Purepoint's common shares will be consolidated on a 10:1 basis. Closing remains subject to TSX Venture Exchange approval.
FinancingIsoEnergy and Purepoint Uranium Form Joint Venture Covering Over 98,000 Hectares in the Eastern Athabasca Basin
A contribution agreement with IsoEnergy Ltd. creates a joint venture covering 10 projects and more than 98,000 hectares in the eastern Athabasca Basin, northern Saskatchewan, with IsoEnergy contributing eight projects for an initial 60% interest and Purepoint contributing Turnor Lake and Red Willow for 40%; put/call options within six months could move ownership to 50/50 for 4,000,000 post-consolidation Purepoint shares. Purepoint will operate during exploration, IsoEnergy in pre-development. Purepoint will consolidate shares 10:1 and place up to 6,666,667 units at $0.30 for up to $2,000,000, with IsoEnergy subscribing $1.0 million.
AcquisitionPurepoint Uranium Provides Exploration Update on Geophysical Programs at Russell South, Tabbernor, and Smart Lake Projects
Two geophysical surveys have been completed at the Russell South project in Saskatchewan's Athabasca Basin: a VTEM plus survey by Geotech Ltd. and a MobileMT survey by Expert Geophysics, with final interpretations pending. At Tabbernor, Xcalibur has begun an airborne gravity gradiometer, gravity and magnetic survey covering 7,549 line-km. The Smart Lake joint venture survey with Cameco, using SWML and FLEM to map the Groomes Lake conductor, was rescheduled for completion before year-end ahead of winter drilling.
Drill resultsPurepoint Uranium Redefines Turnor Lake Project with Latest Technology and Advanced Data Integration
A drill program is underway at the 9,705-hectare Turnor Lake project in the Athabasca Basin, Northern Saskatchewan, following nearly 15 years since the last major drilling campaign. Working with Condor North Consulting ULC, Purepoint is reassessing historic VTEM EM, magnetics, DC resistivity, TDEM and gravity survey data using 3D modelling to refine targets. The Company also approved the issuance of 3,800,000 options to directors, management and certain staff, exercisable at $0.03 per common share and expiring five years from grant.
CorporatePurepoint Uranium Group Inc. Launches Strategic Drill Program at Turnor Lake Project Targeting the La Rocque Structural Corridor
A drill program has begun at the 100%-owned Turnor Lake Project in the Athabasca Basin, Saskatchewan, targeting the La Rocque Structural Corridor, which spans a 7-kilometre strike length in the project's northern portion. The program comprises approximately 5,000 metres of helicopter-supported diamond drilling over 12 to 15 holes, with drill and crew mobilization underway and drilling scheduled to start later this week. The project covers 9,705 hectares on the eastern side of the Athabasca Basin.
Drill resultsPurepoint Uranium Discovers New Lightning Zone Grading 0.29% U3O8 over 0.9 Metres as it Completes 2024 Winter Drill Program at Hook Lake Joint Venture
Drilling at the Carter Corridor of the Hook Lake joint venture in Saskatchewan's southwestern Athabasca Basin intersected 0.29% U3O8 over 0.9 metres, including 0.68% U3O8 over 0.3 metres, in hole CRT24-10 at a true vertical depth of 375 metres, defining the new Lightning Zone. The completed winter program comprised four holes plus one lost hole totalling 2,332 metres, all with elevated radioactivity; assays other than CRT24-10 are pending. Hook Lake is held by Cameco (39.5%), Orano Canada (39.5%) and Purepoint (21%) as operator.
Drill resultsPurepoint outlines 2024 uranium exploration activities
A video in which Chris Frostad, President and CEO of Purepoint Uranium, outlines a schedule of exploration activities and announcements for the next six months, published April 1, 2024. The company states the information is presented for discussion only and not investment advice, and disclaims any obligation to update forward-looking statements.
Drill resultsPurepoint Uranium Initiates Airborne Magnetotellurics at Russell South and Outlines Upcoming Announcements
An airborne Mobile Magnetotellurics (MobileMT) survey, including total field magnetic and VLF, has begun at the 100%-owned Russell South Uranium Project on the south-eastern edge of the Athabasca Basin, Saskatchewan. The survey, flown by Expert Geophysics, will cover approximately 1,064 kilometres of flight at 150 metre spacings, with results expected in May 2024. Four target areas have been identified on the 13,320-hectare property, located about 20 km ENE of the Key Lake Mine.
Drill resultsPurepoint Uranium Starts Hook Lake Drill Program
Drilling has begun at the Hook Lake Project on the southwestern edge of the Athabasca Basin, Saskatchewan, with approximately 2,500 metres planned in five holes testing the Carter Corridor. The program follows up hole CRT23-05, which returned 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) from a 15-metre basement-hosted graphitic shear zone, with a boron halo over 35 metres. Hook Lake is a joint venture between Cameco (39.5%), Orano Canada (39.5%) and Purepoint (21%) as operator.
Drill resultsPurepoint Uranium Outlines 2024 Exploration Plans
2024 exploration programs will cover six Athabasca Basin projects in Canada, including two joint ventures. Drilling is beginning shortly at the Hook Lake JV (Cameco 39.5%, Orano 39.5%, Purepoint 21% as operator), with spring drilling at the 100%-owned Red Willow project targeting the Long Lake area and late Q3 2024 drilling at Turnor Lake targeting the 2.3 km Serin EM conductor and Turaco East. Geophysical work is planned at Russell South (Q1), Smart Lake JV (April) and Tabbernor (summer).
Drill results
202320 releases
Purepoint Uranium Issues Stock Options
A total of 10,500,000 stock options were approved for issuance to Purepoint Uranium's Board of Directors, management and certain staff members under the Company's Omnibus Equity Incentive Compensation Plan. The options are exercisable at $0.055 per common share and expire five years from the date of grant.
CorporatePurepoint Uranium Group Inc. Closes $4,000,000 Private Placement
A non-brokered private placement closed for aggregate gross proceeds of $4,000,000, consisting of 76,190,477 flow-through units at $0.0525 per unit, each with one common share and one warrant exercisable at $0.07 for 24 months. Finders' fees of $234,779.75 in cash and 4,471,996 compensation warrants exercisable at $0.0525 for 24 months were paid to Red Cloud Securities, Accilent Capital Management and CIBC World Markets. Proceeds will fund exploration in the Athabasca Basin, Saskatchewan, with a four-month hold expiring April 14, 2024.
FinancingPurepoint Uranium Upsizes Flow-Through Private Placement
The non-brokered private placement announced November 27, 2023 has been increased from $2,500,000 to $4,000,000, with up to 76,190,477 flow-through units issuable at $0.0525 per unit. Each unit comprises one flow-through common share and one warrant exercisable at $0.07 for 24 months from issuance. Closing is expected December 13, 2023, subject to conditions including TSX Venture Exchange approval.
FinancingPurepoint Uranium Group Inc. Closes Private Placement with Foran Mining Corporation
A non-brokered private placement to Foran Mining Corporation closed with the issue of 7,000,000 units at $0.05 per unit for gross proceeds of $350,000, each unit comprising one common share and one warrant exercisable at $0.07 for two years, with a hold period expiring April 5, 2024. Proceeds are for general working capital. The closing is a condition precedent to the option agreement granting Foran options to acquire up to 100% of Purepoint's Denare West Project in east-central Saskatchewan, pending final TSX Venture Exchange approval.
FinancingPurepoint Uranium Announces Private Placement
A non-brokered private placement of up to 47,619,048 flow-through units at $0.0525 per unit for gross proceeds of up to $2,500,000 was announced, with each unit comprising one flow-through common share and one warrant exercisable at $0.07 for 24 months. Proceeds will fund exploration of the Company's projects in the Athabasca Basin, Saskatchewan, with Canadian Exploration Expenses renounced effective no later than December 31, 2023. Finders, including Red Cloud Securities Inc., receive a 6% cash commission and compensation warrants.
FinancingPurepoint Uranium Announces Winter Program at Smart Lake JV Project
A 2024 exploration program has been approved for the Smart Lake JV Project in the western Athabasca Basin, Saskatchewan, jointly owned by Cameco Corporation (73%) and Purepoint (27%), with Purepoint as operator. Scheduled for Q1-2024, the program includes about 15 km of Stepwise Moving Loop and 24 km of Fixed Loop transient electromagnetic surveys targeting the northern Groomes Lake conductor, plus a DC resistivity/IP survey profiling the Beatty River Fault, Groomes conductor and eastern magnetic low. The Groomes Lake conductor has not been drill tested.
Drill resultsPurepoint Uranium Enters into Option Agreement with Foran Mining Corporation for the Denare West Project
An option agreement with a wholly-owned subsidiary of Foran Mining grants Foran the right to earn up to 100% of Purepoint's Denare West Project in east-central Saskatchewan, about 55 km west-southwest of Flin Flon, Manitoba, and adjacent to Foran's McIlvenna Bay project. Foran can earn 51% by spending $3,000,000 on exploration over up to four years, a further 29% with another $3,000,000 over two more years, and the remaining 20% for $10,000,000 plus a 2% NSR to Purepoint. Foran will also invest $350,000 in a non-brokered private placement of 7,000,000 units at $0.05, each with a warrant exercisable at $0.07 for two years, subject to TSXV approval.
AcquisitionPurepoint Uranium Announces Upcoming Hook Lake Drill Program
A winter drill program of approximately 2,500 metres in 5 holes has been approved for the Carter Corridor at the Hook Lake Project on the southwestern edge of Saskatchewan's Athabasca Basin, with drilling to begin in January 2024. The program follows up on hole CRT23-05, which returned 0.08% U3O8 (671 ppm U) over 0.4 metres from 319.1 to 319.5m, with greater than 800 ppm boron over 35 metres. Hook Lake is a joint venture with Cameco (39.5%), Orano Canada (39.5%) and Purepoint (21%).
Drill resultsPurepoint Uranium Expands Tabbernor Footprint
Approximately 8,865 hectares have been staked adjacent to the eastern boundaries of the 100%-owned Tabbernor Project in Saskatchewan, bringing it to 34 claims totalling 79,463 hectares. The addition follows a 2,667 line-km airborne MobileMT survey that confirmed the Central EM conductor and identified an EM anomaly continuing east beyond the prior claim line; the conductor is now known to stretch just over 50 kilometres. A soil geochemical survey covered about 2.5 kilometres of the conductor, with final geophysical products, assays and interpretations pending.
Drill resultsPurepoint Uranium Provides Update on Exploration Activities
A 2,667 line-km airborne MobileMT geophysical survey is being finalized at the Tabbernor Project, covering a 50-kilometre graphitic corridor, following a soil geochemical survey over about 2.5 kilometres of an EM conductor completed earlier in October. Field mapping of drill target areas was completed at the Red Willow, Carson and Tabbernor projects in Saskatchewan's Athabasca Basin. In early November, Purepoint will meet joint venture partners Cameco and Orano Canada to review proposals and budgets for January drilling and geophysical programs at Hook Lake and Smart Lake.
Drill resultsPurepoint Uranium Provides an Update on its Saskatchewan Exploration Portfolio
A 2023 Portfolio Handbook has been published reviewing each of Purepoint Uranium's 10 exploration projects in Northern Saskatchewan, Canada. The handbook includes an overview of Saskatchewan's uranium industry, descriptions of each project, historic work performed to date, priority targets and next steps, and is available on the company's website.
CorporatePurepoint Uranium Issues Stock Options
A total of 8,850,000 options were approved for issuance to Purepoint Uranium's Board of Directors, management and certain staff members under the Company's Omnibus Equity Incentive Compensation Plan. The options are exercisable at $0.05 per common share and expire five years from the date of grant.
CorporatePurepoint Uranium Releases Airborne Gravity Survey Results for Denare West Project, Hanson Lake Area, Eastern Saskatchewan
A 1,100 line-kilometre FALCON Airborne Gravity Gradiometer survey over the 100%-owned Denare West VMS project in the Hanson Lake area of eastern Saskatchewan defined a northwest-southeast trending gravity high extending from the eastern claim line toward the centre of the 10-claim, 21,066-hectare block. The same response hosts the Hanson Lake and McIlvenna Bay deposits along its eastern edge, 9 kilometres northwest. A follow-up airborne MobileMT EM survey to 1,000 metres depth, flown by Expert Geophysics, is scheduled for 2023.
Drill resultsPurepoint Uranium Updates Results for Winter Drill Program at Hook Lake Joint Venture
Drill hole CRT23-05 on the Carter Corridor at the Hook Lake joint venture in Saskatchewan's southwestern Athabasca Basin returned 0.08% U3O8 (671 ppm U) over 0.4 metres from 319.1 to 319.5m, below the unconformity at 283m, within a 15-metre graphitic shear zone and surrounded by a 35-metre boron halo grading greater than 800 ppm B (305-340m). The winter program completed six holes totalling 2,710 metres. Results were presented to joint venture partners Cameco (39.5%) and Orano (39.5%) on May 1, 2023, with follow-up drilling plans being developed.
Drill resultsPurepoint Uranium Releases Airborne Electromagnetic Results for Tabbernor Project
A 2,962 line-kilometre helicopter-borne VTEM survey over the 100%-owned Tabbernor Project on the eastern edge of the Athabasca Basin, Saskatchewan, outlined over 70 kilometres of EM conductors across seven target areas within three belts of east-northeast trending conductive rocks. Purepoint staked an additional 8 claims covering a conductive trend, joining its Midbear, JebRaven and ColinEagle projects into a single 31-claim, 70,598-hectare project. Follow-up airborne geophysics and geological field mapping are planned for 2023.
Drill resultsPurepoint Uranium Provides Update on its Winter Exploration Programs
3,854 metres of diamond drilling in 15 holes was completed at the 100%-owned Red Willow Project in northern Saskatchewan, across the Osprey, Geneva and Radon Lake zones. Results included 0.3 m at 1,380 ppm U from 239.4 m in GEN23-08 and 0.5 m at 478 ppm U from 219.3 m in GEN23-10. An NI 43-101 technical report on Red Willow will be filed April 28, 2023, and staking of an additional 12,957 hectares expanded the Tabbernor Project to 70,598 hectares.
Drill resultsPurepoint Uranium Reports Total Gamma Spikes as High as 8,850 cps as It Completes Winter Drill Program at Hook Lake Joint Venture
The winter drill program at the Carter Corridor on the Hook Lake Joint Venture in Saskatchewan's southwestern Athabasca Basin has been completed, with 2,710 metres of diamond drilling in six holes. Hole CRT23-05 returned peak radioactivity of 8,850 counts per second, with three anomalous intervals over 34.8 metres including 0.9 metres at 3,950 cps and 2.2 metres at 1,660 cps. CRT23-06, a 100-metre step-out to the south, peaked at 3,225 cps and averaged 1,745 cps over 3.1 metres, with radioactivity primarily thorium-related. Hook Lake is held by Cameco (39.5%), Orano (39.5%) and Purepoint (21%).
Drill resultsPurepoint Uranium to Present at the Red Cloud’s 2023 Pre-PDAC Mining Showcase and at the PDAC Conference
President and CEO Chris Frostad will present at Red Cloud's Pre-PDAC Mining Showcase on March 3, 2023 at 1:50 pm ET at the Sheraton Centre Toronto Hotel, and at the PDAC 2023 Conference on March 8 at 10:26 am in the Uranium Session, room 803, Metro Toronto Convention Centre, where the company will also host booth #2636. The presentations will cover drill programs underway at the Hook Lake and Red Willow projects in Saskatchewan's Athabasca Basin.
CorporatePurepoint Uranium Begins Drill Program at Red Willow
Drilling has begun at the 100%-owned Red Willow project in the eastern Athabasca Basin, Saskatchewan, with approximately 2,800 metres of diamond drilling across 15 holes anticipated. Drilling started at the Osprey Zone, where hole OSP22-06 returned 0.47% U3O8 over 0.9 metres, with target depths of less than 200 metres. A second drill program is underway at the Hook Lake Joint Venture project in the southwestern Athabasca Basin.
Drill resultsPurepoint Uranium Begins Winter Drill Program at Hook Lake Joint Venture
Drilling has commenced at the Hook Lake Joint Venture on the southwestern edge of Canada's Athabasca Basin, with approximately 3,200 metres of diamond drilling across 8 holes planned to test electromagnetic targets along the Carter Corridor. The project is a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%) and Purepoint (21%) as operator, covering nine claims totaling 28,598 hectares. A second drill program on the eastern side of the Basin is to start soon.
Drill results
202225 releases
Purepoint Uranium Completes Fall 2022 Drill Program at Red Willow and Turnor Lake Projects
The Fall 2022 drill program at the 100%-owned Red Willow and Turnor Lake projects in Saskatchewan's eastern Athabasca Basin is complete, with 6 holes finished and one lost for 2,080 metres. At Red Willow, four holes over 942 metres tested more than 800 metres of the Osprey conductor, with RW22-06 intersecting 0.47% U3O8 over 0.9 metres. At Turnor Lake, SL22-02 hit graphitic-pyritic pelitic gneiss returning 745 cps over 0.4m and radioactive pegmatite averaging 825 cps over 14.6 metres; SL22-03 found no notable radioactivity. Follow-up drilling at Red Willow begins in January.
Drill resultsPurepoint Uranium Group Inc. Closes Its Private Placement
A non-brokered private placement closed with the issuance of 48,642,857 flow-through units at $0.07 per unit for gross proceeds of $3,405,000, each unit comprising one flow-through common share and one half warrant exercisable at $0.105 for 24 months. Finders' fees of $167,928.90 in cash and 2,398,984 compensation warrants exercisable at $0.07 for 24 months were paid. Net proceeds will fund exploration of the Company's Athabasca Basin projects in Saskatchewan, with securities subject to a four-month hold expiring April 9, 2023.
FinancingPurepoint Uranium Announces Increase in Offering Size for Non-Brokered Private Placement
The size of the previously announced non-brokered private placement has been increased from $2,000,000 to $3,750,000, citing investor demand. Up to 53,571,429 flow-through units are issuable at $0.07 per unit, each consisting of one flow-through common share and one-half warrant exercisable at $0.105 for 24 months from issuance. Completion is subject to conditions including TSX Venture Exchange approval. Purepoint holds 12 projects in Canada's Athabasca Basin.
FinancingPurepoint Uranium Announces Private Placement
A non-brokered private placement of up to 28,571,429 flow-through units at $0.07 per unit for gross proceeds of up to $2,000,000.03 was announced, with each unit comprising one flow-through common share and one-half warrant exercisable at $0.105 for 24 months. Proceeds will fund Canadian Exploration Expenses on the Company's Athabasca Basin projects in Saskatchewan, renounced with an effective date no later than December 31, 2022. Finders, including Red Cloud Securities Inc., receive a 6% cash commission and compensation warrants at $0.07.
FinancingPurepoint Uranium Announces Approval of Upcoming Hook Lake Drill Program
Joint venture partners have approved a winter exploration drill program at the Hook Lake Project on the southwestern edge of the Athabasca Basin, with drilling to begin in January 2023. The program comprises approximately 3,200 metres of diamond drilling in 8 holes to test the Carter Corridor, a 25-kilometre strike-length structural/conductive corridor almost entirely within the project. Hook Lake is held by Cameco (39.5%), Orano Canada (39.5%) and Purepoint (21%) as operator, covering nine claims totaling 28,598 hectares.
Drill resultsPurepoint Uranium Discusses Three Ongoing Drill Programs Live at VirtualInvestorConferences.com November 8th
President and CEO Chris Frostad will present an update on Purepoint Uranium's three ongoing drill programs, including the Hook Lake joint venture with Cameco and Orano, live at VirtualInvestorConferences.com on November 8, 2022 at 11 am ET, with one-on-one meetings available November 11, 2022. Current fully funded drilling is underway at Red Willow and Turnor Lake in October/November 2022, with follow-up programs planned for the 2023 winter season. Purepoint holds 12 advanced projects in Canada's Athabasca Basin.
Drill resultsPurepoint Uranium Group Announces TSXV Approval of Warrant Extension
TSX Venture Exchange approval has been received for the previously announced extension of the expiry date of 35,838,000 outstanding common share purchase warrants by six months to June 17, 2023. The warrants were issued in connection with a private placement completed on December 17, 2020.
CorporatePurepoint Uranium Group Announces Intention to Extend Warrant Term
An application will be made to the TSX Venture Exchange to extend the expiry date of 35,838,000 common share purchase warrants from December 17, 2022 to June 17, 2023. The warrants, issued in a private placement of flow-through and common share units completed December 17, 2020, carry an exercise price of $0.08, which remains unchanged. The expiry of 219,480 compensation warrants issued to finders cannot be extended under Exchange policy. None of the warrants have been exercised in the last six months; the extension requires Exchange approval.
CorporatePurepoint Uranium Prepares for Follow-Up Drill Program at Red Willow Project
Mobilization has begun for a drill program at the 100%-owned Red Willow project in the eastern Athabasca Basin, Saskatchewan, with drilling expected to start late September and 3,500 metres planned across 10 holes using helicopter support, initially targeting the extent of uranium mineralization along the Osprey conductor. Winter drilling intersected mineralization along 1.2 kilometres of strike, including 0.47% U3O8 over 0.9 metres in hole RW22-06 and 0.27% U3O8 over 0.5 metres in OSP22-13. A winter follow-up program is also planned.
Drill resultsPurepoint Uranium Defines Eight Drill Targets at 100% Owned Carson Lake and Russell South Projects
Airborne gravity gradiometer, gravity and magnetic surveys covering 1,364 kilometres of flight lines at 100 metre spacings have been completed at the 100%-owned Carson Lake and Russell South uranium projects on the eastern edge of the Athabasca Basin, Saskatchewan. Final interpretation, combined with previous surveys, outlined three targets at the 4,972 hectare Carson Lake project and five at the 13,320 hectare Russell South project. The targets will be evaluated for inclusion in Purepoint's 2023 drill programs.
Drill resultsThe Northern Miner Podcast CEO Spotlight with Chris Frostad
An 11-minute Northern Miner Podcast interview features President and CEO Chris Frostad discussing the uranium market and Purepoint's Athabasca Basin projects with Adrian Pocobelli. Purepoint operates 12 advanced projects across approximately 175,000 hectares in the Athabasca Basin, hosting over 20 drill target areas. Its flagship Hook Lake Project is a joint venture with Cameco Corporation and Orano Canada Inc. and includes the Spitfire discovery, which returned 53.3% U3O8 over 1.3 m, including a 10 m interval of 10.3% U3O8.
CorporatePurepoint Uranium Group Inc. Obtains Receipt for Final Base Shelf Prospectus
A final receipt has been obtained for a base shelf prospectus filed with securities regulators in each Canadian province and territory, allowing Purepoint Uranium to distribute common shares, warrants, units and subscription receipts for aggregate gross proceeds of up to $15 million over the 25-month period the prospectus remains effective. No agreements or arrangements to offer or sell securities are in place. The Company also re-filed an amended technical report on the Hook Lake Uranium Project, northern Saskatchewan, dated August 8, 2022.
FinancingPurepoint Uranium Provides Update on Summer Exploration Programs
A 3,777 line-kilometre helicopter-borne VTEM survey has begun across the four 100%-owned projects comprising the Tabbernor Block, covering over 66,000 hectares on the eastern edge of the Athabasca Basin, Saskatchewan. Earlier this summer the company completed 1,364 line-kilometres of airborne gravity gradiometer, gravity and magnetic surveys at Russell South and Carson Lake, plus a 653 line-kilometre ZTEM survey over the northern Carter Corridor at the Hook Lake Joint Venture. Final interpretations for those three projects are expected shortly.
Drill resultsPurepoint Uranium Initiates ZTEM Survey at Hook Lake Joint Venture
A deep-sensing Z-Axis Tipper Electromagnetic (ZTEM) airborne survey has begun over the northern portion of the Carter Corridor at the Hook Lake Joint Venture in Saskatchewan's Athabasca Basin, a venture held by Cameco Corporation (39.5%), Orano Canada Inc. (39.5%) and Purepoint (21%) as operator. The survey will cover 653 kilometres of flight at 300 metre spacings, with results and interpretations expected later this summer. The project consists of nine claims totaling 28,598 hectares.
Drill resultsPurepoint Uranium Group Inc. Announces Adoption of Omnibus Incentive Plan
Shareholders approved a new omnibus equity incentive compensation plan at Purepoint Uranium's annual and special meeting held June 29, 2022, replacing the company's existing stock option plan. The Omnibus Plan includes a 10% rolling option plan, reserving up to 10% of issued and outstanding common shares at the date of any grant, and a fixed plan reserving 36,888,943 common shares for restricted share units and performance share units.
CorporatePurepoint Uranium Initiates Program at 100% Owned Carson Lake Project
An airborne Gravity Gradiometer, Gravity and Magnetic Survey has begun at Purepoint Uranium's 100% owned Carson Lake Uranium Project on the north-eastern edge of the Athabasca Basin, Saskatchewan. The survey will cover 390 kilometres of flight at 100 metre spacings, with results and interpretations expected to be complete by early July. The 4,972-hectare project targets basement-hosted uranium mineralization similar to the Eagle Point deposit, 50 kilometres south-southwest.
Drill resultsPurepoint Uranium Initiates Program at 100% Owned Russell South Project
An airborne gravity gradiometer, gravity and magnetic survey has begun over the entire 100%-owned Russell South uranium project on the south-central edge of the Athabasca Basin, Saskatchewan. The survey will cover 974 kilometres of flight lines at 100 metre spacings, with results and interpretations expected by the end of June. The 13,320-hectare project adjoins Skyharbour Resources' Moore Lake Project and lies 22 km ENE of the Key Lake Mine.
Drill resultsPurepoint Uranium Attending PDAC 2022 in Person - June 13 to 15, 2022
Purepoint Uranium will exhibit at booth 2636 in the Investor Exchange Pavilion at the PDAC 2022 convention, held in person at the Metro Toronto Convention Centre from June 13–15, 2022. The company outlined upcoming exploration: drilling resuming at Red Willow in September following hole OSP22-15, a Turnor Lake fall drill season ending in early November, a June ZTEM survey over Hook Lake's Carter Corridor, June airborne gravity at Carson Lake and Russell South, and a July airborne EM survey over the Tabbernor Projects. Purepoint states it is fully funded for this work.
CorporatePurepoint Uranium Outlines Upcoming Exploration Session
Remaining 2022 exploration plans were outlined for the Hook Lake Joint Venture and eight of Purepoint's 100% owned projects in Saskatchewan's Athabasca Basin. Drilling resumes in September at Red Willow, following hole OSP22-15, with a fall drill season at Turnor Lake expected to finish in early November; a ZTEM airborne survey over Hook Lake's Carter Corridor and an airborne gravity survey over Carson Lake and Russell South are planned for June, and an airborne EM survey over the Tabbernor Projects in July. The Company says it is fully funded for this work and, on May 13, 2022, approved 6,350,000 options at $0.07 per share expiring five years from grant.
NewsPurepoint Uranium Discovers 1.2 Kilometres of Continuous Radioactivity North of the Osprey Zone at Its Red Willow Project
Twelve holes totalling 2,088 metres were completed this winter at the Osprey Zone on the 100%-owned Red Willow project in Saskatchewan's eastern Athabasca Basin, with nine holes encountering anomalous radioactivity at shallow depth across 1.2 kilometres. Peak radiation levels of 8,830 cps, 33,070 cps, 6,367 cps and 8,002 cps were recorded in holes OSP22-04, OSP22-06, OSP22-12 and OSP22-13; assays are pending. The hosting EM conductor continues a further kilometre north and nearly one kilometre south, and a 2022 follow-up drill program is planned.
Drill resultsPurepoint Uranium Group Inc. Closes Its Fully Subscribed Private Placement for Gross Proceeds of C$3.5 Million
A brokered private placement first announced March 14, 2022 has closed, with 25,001,000 flow-through units issued at $0.14 per unit for gross proceeds of $3,500,140. Each unit includes one flow-through common share and one warrant exercisable at $0.20 for 24 months. Red Cloud Securities received $210,008 in cash commissions and 1,500,060 broker warrants at $0.14 for 24 months. Proceeds will fund exploration on Purepoint's Athabasca Basin projects in Saskatchewan, subject to final TSX Venture Exchange acceptance.
FinancingPurepoint Uranium Announces Brokered Flow-Through Private Placement of up to C$2.5 Million
A brokered private placement of up to 17,858,000 flow-through units at C$0.14 per unit for gross proceeds of up to C$2,500,120 has been arranged with Red Cloud Securities Inc. as lead agent and bookrunner. Each unit includes one flow-through common share and one warrant exercisable at C$0.20 for 24 months; Red Cloud holds an option for up to 7,143,000 additional units for up to $1,000,020. Proceeds will fund exploration in the Athabasca Basin, Saskatchewan, with closing expected about April 4, 2022.
FinancingPurepoint Uranium Receives DTC Eligibility
Purepoint Uranium's common shares are now eligible for electronic clearing and settlement through the Depository Trust Company in the United States. The company trades on the TSXV as PTU and on the OTCQB as PTUUF, and operates 12 exploration projects in Canada's Athabasca Basin, including joint ventures at Hook Lake with Cameco and Orano and at Smart Lake with Cameco.
CorporatePurepoint Uranium Begins the 2022 Season Returning Over 33,000 CPS From Initial Drilling at Red Willow's Osprey Zone
Preliminary drilling at the Osprey Zone on the 100%-owned Red Willow project in Saskatchewan's eastern Athabasca Basin returned 4.0 metres averaging 5,800 counts per second with a peak of 33,070 cps in hole OSP22-06, and a peak of 8,830 cps in OSP22-04. Seven holes totaling 1,247 metres have been completed in 2022, with five encountering anomalous uranium at shallow depth across 325 metres. The hosting electromagnetic conductor continues about 2 kilometres north, where drilling will proceed.
Drill results