April 2022

Geopolical Risk and Uranium Mining: A Quick Overview

Source: INN

The conflict in Ukraine shines a light on both the pivotal role of geopolics in uranium supply and the importance of geopolical stability. Conflict in Eastern Europe has had a sig- nificant impact on uranium prices, pung up to 16.5 percent of global supply at risk. This is not the first me geopolical tensions have impacted the uranium market, either. Given that uranium is a crucial fuel source for nuclear energy, investors, mining agencies and energy companies alike must factor geopolical risk into their decision making.

UxC Consulng Spot Price


February 28, 2022

$48.50/lb U3O8

March 31, 2022

$57.90/lb U3O8

Change of +$9.40/lb U3O8

Operang at a global scale has always been somewhat challenging. Global mining companies must typically navigate mulple processes and policies around exploraon, discovery and producon. They must also understand the geopolical climate of each region in which they operate and the likelihood of that climate disrupng operaons. Per McKinsey, managing geopolical risk is now more important than it has ever been. Polical, societal and legis- lave instability must be factored into all investment and purchase decisions in the mining Key Basin Announcements sector. Mining companies, parcularly those focused on uranium, can no longer afford to

UxC Consulng Long-Term Price


February 28, 2022

$42.50/lb U3O8

March 31, 2022

$48.00/lb U3O8

Change of +$5.50/lb U3O8

ignore such maers.

03-01-2022: Azincourt reports elevated radioac- vity at East Preston

According to Saskatoon-based Cameco (TSX:CCO,NYSE:CCJ), uranium spot prices rose by 13 percent in just the first week of fighng. Cameco spokesperson Jeff Hryhoriw has assert- ed that this only further drives home the importance of country of origin, with geopolical climate, ESG and security of supply becoming crical consideraons. Only Canada and Australia, respecvely the second and third largest producers, can be regarded as generally low risk from a geopolical standpoint. While both represent sound investments, there are several factors that give Canada an edge.

03-01-2022: Skyharbour commences winter drill program at Moore Uranium Project

03-01-2022: Forum commences drilling at Highrock Uranium project under opon to Sassy Resources

Why Canada is the safest jurisdicon for uranium investment

03-02-2022: Purepoint Uranium begins the 2022 season returning over 33,000 CPS from inial drilling at Red Willow's Osprey Zone

Straddling the Alberta-Saskatchewan border, the Athabasca Basin is home to the richest deposits of high-grade uranium in the world. Given that both Canadian provinces hold the mining sector in extremely high regard, regional mining policies are incredibly favorable. Saskatchewan has even been ranked as the second most aracve mining jurisdicon in the world, second only to Nevada, US. Given the above, it should come as no surprise that the Athabasca Basin has a long history of uranium mining. Mining and exploraon companies such as Purepoint Uranium Group (TSXV:PTU,OTCQB:PTUUF) own and operate extensive infrastructure across the region, with an advanced porolio consisng of almost 200,000 hectares of claims across 12 exploraon projects.

03-02-2022: Fission 3.0 drilling intersect anoma- lous radioacvity at Broach Lake target at PLN

03-03-2022: Forum commences drilling at Wol- laston Uranium Project

03-04-2022: Standard Uranium begins drill pro-gram at Sun Dog

Purepoint's flagship Hook Lake joint venture project with Cameco and Orano Canada is regarded as one of the highest-quality exploraon projects in Canada, and its 100 percent owned Red Willow project is tracking and defining a uranium-bearing system with high lev- els of radioacvity in the inial drill holes that are very similar to the mineralized seng the company discovered near the Spitfire deposit at the Hook Lake project.

03-07-2022: Baselode intersects three new holes with elevated radioacvity

03-08-2022: Fission 3.0 prepares Cree Bay fro drilling with ground geophysics

03-16-2022: Azincourt extends alteraon zone at East Preston

The Athabasca Basin is also home to the McArthur River uranium mine, currently the world's largest deposit of high-grade uranium. Jointly owned by Cameco and Orano Canada, the mine's operaons were suspended from 2018 through 2022. Cameco announced in Febru- ary that it will restart producon at McArthur River and the nearby Key Lake mill in 2024, at which point it expects an annual output of 15 million pounds.

03-22-2022: Baselode expands drill program on ACKIO

03-29-2022: Azincourt completes drill program at East Preston


Global uranium supply currently faces considerable disrupon, with all but two of its top producers marked by geopolical instability. Canada's Athabasca Basin has the potenal to fill this supply gap, owing as much to its incredibly rich deposits of high-grade uranium as its stable, pro-mining polical climate. It is one of the safest jurisdicons in the world for ura- nium mining, which ulmately makes it a safer investment for those looking at the uranium space.

03-29-2022: Denison announces discovery of high-grade uranium mineralizaon at 24.66% owned Waterfound JV

03-31-2022: CanAlaska's Waterbury South Urani-um targets extended in latest drill program

Month over Month Uranium Stock Performance

(as of March 31, 2022)

Monthly Athabasca Basin Exploraon UpdateProducing, Development & Advanced Exploraon Companies

CamecoLaramide ResourcesPeninsula EnergyFission UraniumNexgen EnergyDenison MinesAverageUEX

-20 .0 0%

-10 .0 0%

Presented by Purepoint Uranium Group Inc. (TSXV: PTU/OTCQB: PTUUF), the Monthly Athabasca Ba- sin Exploraon Update is a monthly newsleer that gathers informaon on what's happening with uranium exploraon companies in the Atha- basca Basin, including its monthly exploraon news, stock performanc-es as well as the spot- and long-term uranium prices.

Purepoint Uranium Group Inc.



10 .0 0%

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Purepoint Uranium Group Inc. is a uranium exploraon company fo- cused on precision exploraon of its projects in the Athabasca Basin.

Athabasca Basin Exploraon Companies

Its flagship project is the Hook Lake, a joint venture with two of the largest producers in the world, Cameco Cor- poraon and Orano Canada.

CanAlaska UraniumPUREPOINT URANIUMSkyharbour ResourcesStandard UraniumAzincourt EnergyBaselode EnergyALX ResourcesForum EnergyFission 3.0


-20 .0 %


Disclaimer informaon:

Together with its flagship project, the Company operates 12 projects across approximately 175,000 hectares of claims throughout the Athabasca Basin.

For more informaon, please

Be in the Know

Click here to receive the Monthly Athabasca Basin Update via email

-10 .0 %





Follow-us on Twier


All informaon provided in this newsleer is based upon sources that Purepoint Uranium Group Inc. (Purepoint Uranium) believes to be reliable. Purepoint Uranium does not guarantee their accuracy or completeness. Any and all statements as of the date of this newsleer are subject to change without noce. All informaon provided on this newsleer must be understood as informaon presented for discussion only and not investment advice. Purepoint Uranium advises all readers and subscribers to seek advice from a registered professional securies representave before deciding to trade in stocks featured on this newsleer or any stocks for that maer. All statements and expressions of the companies featured are not meant to be a solicitaon or recommendaon to buy, sell, or hold securies. Purepoint expressly disclaims any obligaon to update or revise any such forward-looking statements.

Purepoint Uranium begins the 2022 season returning over 33,000 CPS from inial drilling at Red Willow's Osprey Zone


Market Cap

Price as of 03/31/22



52-Week Low






Purepoint Uranium Group Inc. (TSXV: PTU)(OTCQB: PTUUF) is pleased to announce today, preliminary results from its current drill program at the 100%-owned Red Willow project within the eastern uranium mine district of the Athabasca Basin, Saskatchewan Canada. Ongoing drilling is tracking and defining a uranium bearing hydrothermal system at the Osprey Zone highlighted by diamond drill hole OSP22-06 that returned 4.0 metres averaging 5,800 counts per second ("CPS") with a peak of 33,070 CPS.

"The high levels of radioacvity in these inial drill holes are very similar to the mineralized seng we experienced near the Spitfire deposit at the Hook Lake JV Project and may demonstrate a system of widespread uranium mineralizaon." explained Sco Frostad, VP Exploraon at Purepoint. "This open, untested trend connues for approximately two kilometres to the north and one-half kilometre to the south giving us plenty of drilling to complete before the season ends".


  • • Seven holes have now been completed in 2022 totaling 1,247 metres at the Osprey Zone

  • Five of the seven holes encountered anomalous uranium at a shallow depth from surface across a distance of 325 metres (see table and figures below)

  • The highest levels of radioacvity were seen in holes OSP22-04 and OSP22-06 which presented peak radiaon levels of 8,830 cps and 33,070 cps respecvely

  • The electromagnec conductor that represents the graphic unit hosng mineralizaon connues for approximately 2 kilometres north of the completed drilling. Purepoint intends to systemacally connue drilling to the north where cross-cung structures may have allowed for a more significant deposion of mineralizaon to occur

  • A Naonal Instrument 43-101 compliant technical report on the Red Willow project containing Purepoint's work and analysis to date can be found on the Company's web site athps://"Technical Report on the Red Willow Project, Northern Saskatchewan, Canada October 16, 2015")

Table 1: Preliminary Results from current Drill Program at Red Willow's Osprey Zone

Hole Number

From (m)

To (m)

Width (m)


Peak CPS







































































Connue on Page 4...

Purepoint Uranium begins the 2022 season returning over 33,000 CPS from inial drilling at Red Willow's Osprey Zone (cont'd)


Market Cap

Price as of 03/31/22



52-Week Low






Figure 1:

Figure 2:

Total Gamma (CPS) vs. Downhole Depth for Select Diamond Drill Holes

Red Willow's Osprey Zone 2021/2022 Drill Program Locaon

Gamma Logging and Geochemical Assaying

A Mount Sopris 2PGA-1000 downhole total gamma probe was ulized for radiometric surveying. The total gamma results provided in Table 1 were selected using a cutoff of 500 cps over a 0.5 metre width. All drill intercepts are core width and true thickness is yet to be deter-mined.

Core samples are submied to the Saskatchewan Research Council (SRC) Geoanalycal Laboratories in Saskatoon. The SRC facility is ISO/ IEC 17025:2005 accredited by the Standards Council of Canada (scope of accreditaon #537). The samples are analyzed using paral and total digeson inducvely coupled plasma methods, for boron by Na2O2 fusion, and for uranium by fluorimetry.

Red Willow Project

The 100% owned Red Willow property is situated on the northern edge of the eastern Athabasca Basin mine corridor in Northern Saskatch- ewan, Canada. The property is located in close proximity to several uranium deposits including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and Cameco's Eagle Point mine that is approximately 10 kilometres due south.

Red Willow consists of 17 mineral claims having a total area of 40,116 hectares. Geophysical surveys conducted by Purepoint have includ- ed airborne magnec and electromagnec (VTEM) surveys, an airborne radiometric survey, ground gradient array IP, pole-dipole array IP, fixed-loop and moving-loop transient electromagnecs, and gravity. The detailed airborne VTEM survey provided magnec results that are an excellent base on which to interpret structures while the EM results outlined over 70 kilometres of conductors that in most instances represent favourable graphic lithology. •

Azincourt Energy reports elevated radioacvity at East Preston TSXV: AAZ


Market Cap

Price as of 03/31/22



52-Week Low





Azincourt provided an update on the ongoing 2022 exploraon program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Drilling at the East Preston Project commenced on January 24th, and to date, 3,208 meters has been completed in 13 drill holes. Despite a period of extreme cold weather and its associated problems, two drill rigs are operaonal on the project. Ten drill holes are complete, one was abandoned, and two are in progress on the G- and K- Zones.

As a consequence of the promising developments many holes have been drilled considerably deeper (to get through alteraon and structure intersected) than inially planned and addional holes are being drilled to follow up key results. This means that while the planned overall meterage is expected to be achieved, fewer total holes may be completed and not all zones targeted for this program may be evaluated.

The first shipment of core samples from the current drill program is scheduled to be delivered later this week to the SRC Geoanalycal Lab in Saskatoon. The Company expects to receive full suite assay results in early April. Results will be reported once received, reviewed, and verified.

Skyharbour commences winter drill program atMoore Uranium Project



Market Cap

Price as of 03/31/22



52-Week Low





Skyharbour announced that it has begun begun a minimum 2,500 metre winter drilling program consisng of an esmated seven to nine diamond drill holes.

The program will test targets at the Grid 19 area, Maverick East Zone and the Viper area. At the Grid 19 target area, a regional target approx. 9.5 km NE of the Main Maverick Zone, drilling will follow-up on the first two holes drilled on the Slice Pond Conductor. Both holes intersected geochemically anomalous, altered, graphic and sulphide-bearing basement lithologies accompanied by elevated uranium values below the unconformity.

At the Maverick East Zone, follow-up drilling is planned where previously reported hole ML21-19 intersected a broad interval of uranium mineralizaon including 0.54% U3O8 over 19.5 metres, including 2.07% U3O8 over 4.0 metres, on the northern edge of the mineralized zone.

Drilling is also planned at the 525 target within the Viper area, approx. 1.5 km NE of the Main Maverick Zone, to follow up on a historic drill intercept in hole ML-525 of 0.27% U3O8 over 4.5 metres. This mineralizaon is just above the unconformity in an area of complex geol- ogy and the target has not been followed up since 2006. With the development of new geological models at this target, it has become a high-priority exploraon target.

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Purepoint Uranium Group Inc. published this content on 04 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2022 13:46:08 UTC.