MONTHLY ATHABASCA BASIN EXPLORATION UPDATE

February 2022

Purepoint Uranium interview with Matt Gordon at Crux Investor on January 13, 2022

- Drill Plan Signals Focus on Value Creation

Source:Crux Investor

Driven by an aggressive, systematic approach of identifying key projects with solid indicators and historic significance in the Basin, our objective is to enhance stakeholder value through the advancement of properties with well-defined targets of strong, high-grade uranium potential.

Established in the Basin since 2002, Purepoint's leadership team comprises of independent, highly qualified group of experts with deep provincial and regulatory ties, as well as decades of experience in the Athabasca Basin.

UxC Consulting Spot Price

(US$)

December 31, 2021

$42.00/lb U3O8

January 31, 2022

$43.00/lb U3O8

Change of +$1.00/lb U3O8

UxC Consulting Long-Term Price

(US$)

December 31, 2021

$40.50/lb U3O8

January 31, 2022

$40.50/lb U3O8

Unchanged

Key Basin Announcements

Purepoint proudly maintains project ventures in the Basin with two of the largest uranium producers in the world, Cameco Corporation and Orano Resources Cana- da Inc. (formerly Areva Canada Inc.).

00:00 - Company Overview

00:31 - Sports Positive Uranium, Private Investment Platform & Smart Lake Project 05:28 - Huge Disagreements, Similar Profile & Different Levels Of Mineralization 09:53 - Economic Discoveries, New-Found Deposit & Technical Success

13:20 - Extended Mineralization, Uranium Trust & Allocation Of Capital 16:23 - Accumulation Of Projects, Press Releases & Fundamentals 21:55 - Raised Company Killer, Developing Portfolio & Catalysts 26:12 - Outro

Click hereor on the image below for full video interview:

01-06-2022: Forum options Highrock Uranium Project to Sassy Resources

01-06-2022: Baselode reports additional uranium intersections from Ackio

01-10-2022: Fission 3.0 commences mobilization for winter drilling at PLN

01-12-2022: Purepoint Uranium begins drilling at Red Willow's Osprey Zone

01-12-2022: UEX announces winter 2022 exploration programs

01-13-2022: CanAlaska commences drill program at Waterbury South Property

01-17-2022: Baselode starts winter drilling preparations

01-19-2022: CanAlaska partner to spend A$5M for 60% of two uranium projects

01-19-2022: IsoEnergy commences winter exploration program

01-24-2022: Forum receives permit for drilling at Highrock Uranium Project

01-25-2022: Fission advances feasibility study with new drill program

01-25-2022: Azincourt commences drilling at the East Preston Uranium Project

01-26-2022: CanAlaska deals further three uranium projects in the Athabasca Basin

01-27-2022: NexGen reports 2021 exploration and site geotechnical drilling results

01-31-2022: Fission Resource updagrade drilling hits 19.0m @ 18.27% U3O8 in 46.0m @ 8.01% U3O8

Monthly Athabasca Basin Exploration Update

Month over Month Uranium Stock Performance

(as of January 31, 2022)

Producing, Development & Advanced Exploration Companies

Fission Uranium

Nexgen Energy

Laramide Resources

Average

-8.48%

Peninsula Energy

Cameco

Denison Mines

UEX

-30 .0 0%

-20 .0 0%

-10 .0 0%

0.00 %

10 .0 0%

20 .0 0%

30 .0 0%

Athabasca Basin Exploration Companies

Forum Energy

Skyharbour Resources

CanAlaska Uranium

PUREPOINT URANIUM

Average

-3.6%

IsoEnergy

Standard Uranium

Azincourt Energy

Baselode Energy

ALX Resources

Fission 3.0

-30 .0 %

-20 .0 %

-10 .0 %

0.0%

10 .0 %

20 .0 %

30 .0 %

February 2022

Monthly Athabasca Basin

Exploration Update

Presented by Purepoint Uranium Group Inc. (TSXV: PTU/OTCQB: PTUUF), the Monthly Athabasca Basin Exploration Update is a monthly newsletter that gathers information on what's happening with uranium exploration companies in the Atha- basca Basin, including its monthly exploration news, stock performances as well as the spot- and long-term uranium prices.

Purepoint Uranium Group Inc.

TSXV: PTU/ OTCQB: PTUUF

Purepoint Uranium Group Inc. is a uranium exploration company focused on precision exploration of its projects in the Athabasca Basin.

Its flagship project is the Hook Lake, a joint venture with two of the largest producers in the world, Cameco Corporation and Orano Canada.

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

For more information, please visit: www.purepoint.ca.

Be in the Know

Click here to receive the Monthly Athabasca Basin Update via email

Follow-us on Twitter

@PurepointU3O8

Disclaimer information:

All information provided in this newsletter 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 newsletter are subject to change without notice. All information provided on this newsletter must be understood as information presented for discussion only and not investment advice. Purepoint Uranium advises all readers and subscribers to seek advice from a registered professional securities representative before deciding to trade in stocks featured on this newsletter or any stocks for that matter. All statements and expressions of the companies featured are not meant to be a solicitation or recommendation to buy, sell, or hold securities. Purepoint expressly disclaims any obligation to update or revise any such forward-looking statements.

Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved.

Page 2

Monthly Athabasca Basin Exploration Update

Purepoint Uranium begins drilling at Red Willow's Osprey Zone

TSXV: PTU

01-12-2022

February 2022

Market Cap

Price as of

52-Week

52-Week

01/31/22

High

Low

$29.98MM

$0.09

$0.195

$0.06

Purepoint Uranium Group Inc. (TSXV: PTU)(OTCQB: PTUUF) ("Purepoint" or the "Company") announced today that drilling has now commenced at the 100%-owned Red Willow project within the eastern uranium mine district of the Athabasca Basin, Saskatchewan Canada. The 2022 Red Willow drill program will look to expand the Company's Osprey discovery where initial drilling identified basement-hosted uranium mineralization highlighted by RW-19 that intersected 0.19% U3O8 over 4.0 metres and included 3.03% U3O8 over 0.1 metre.

"We're focusing our 2022 Red Willow drill program at the Osprey Zone, which hosts prior uranium intercepts that we believe extend well beyond our initial findings." explained Scott Frostad, VP Exploration at Purepoint. "The mineralized Osprey shear zone remains open at depth, the lens of flat-lying uranium mineralization is untested towards the East, and the Osprey Conductor continues North for 2 kilometres with only limited drilling."

Highlights

  • Mobilization of the drill and temporary work camp for the 2022 Red Willow program began in late December and drilling has now commenced at the Osprey Zone
  • The drill program will begin with initial step-outs of the known Osprey mineralization and testing of the Osprey conductor towards the north
  • Exploration program plans for approximately 3,000 metres of drilling in 20 holes
  • Crews and equipment have been contracted to continue drilling until April, 2022
  • A National 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 at https://purepoint.ca/projects/red-willow/("Technical Report on the Red Willow Proj- ect, Northern Saskatchewan, Canada October 16, 2015")

Red Willow Project

The 100% owned Red Willow property is situated on the eastern edge of the Athabasca Basin in Northern Saskatchewan, Canada and consists of 17 mineral claims having a total area of 40,116 hectares. The property is located close 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.

Geophysical surveys conducted by Purepoint at Red Willow have included airborne magnetic and electromagnetic (VTEM) surveys, an airborne radiometric survey, ground gradient array IP, pole-dipole array IP, fixed-loop and moving-loop transient electromagnetics, and gravity. The detailed airborne VTEM survey provided magnetic 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 graphitic lithology.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds ten, 100% owned projects with proven uranium rich targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world's richest uranium district.

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved.

Page 3

Monthly Athabasca Basin Exploration Update

Forum options Highrock Uranium Project to Sassy Resources

TSXV: FMC

01-06-2021

February 2022

Market Cap

Price as of

52-Week

52-Week

01/31/22

High

Low

$30.31MM

$0.20

$0.57

$0.145

Forum energy that it has signed a binding Letter of Intent to option the drill-ready Highrock Uranium Project to Sassy Resources.

The Deal:

  • Sassy paid Forum $50,000 cash upon signing of the binding LOI. The LOI between Sassy and Forum describes a staged earn-in under which Sassy will initially acquire a 20% interest in Highrock by paying Forum $50,000 cash, 250,000 Sassy shares (on February 2, 2022, post-Gander Gold date of record for share distribution) and completing $1,000,000 in exploration expenditures during 2022;
  • Sassy can earn an additional 31% interest (51% total) by paying $50,000 cash and 250,000 shares on or about January 2, 2023, and by providing $1,000,000 in exploration funding for 2023;
  • Sassy can earn an additional 19% interest (70% total) by paying $50,000 cash, 250,000 shares on or about January 2, 2024 and provid- ing $1,500,000 in exploration funding for 2024;
  • The final 30% interest in the Property (100% total) may be acquired by Sassy by paying Forum $150,000 in cash and 3,000,000 shares on or before December 31, 2025;
  • In total, to acquire 100% of Highrock, Sassy will pay $350,000 in cash, issue 3,750,000 shares and provide up to $3,500,000 in ex- ploration funding over four years between January 3, 2022, and December 31, 2025. Should the project advance to this stage, Sassy will pay Forum $1,000,000 on delivery of a Feasibility Study and a further $3,000,000 on commencement of commercial production. Forum maintains a 1% NSR on Highrock, half of which (0.5%) can be purchased by Sassy prior to the commencement of commercial production for the sum of $1,000,000. A 1% NSR on the north claim (S-113362) is shared by third parties, half of which (0.5%) may be purchased by Sassy for the sum of $1,000,000. A 2% NSR on the south claim (MC00013262) is held by a third party and at present is not subject to a repurchase clause;
  • Forum will act as project operator for 2022 and 2023 and may do so at Sassy's option in 2024. Permitting and procurement process- es are well underway to facilitate 2022 drilling starting as early as February. The parties have agreed to complete a Definitive Option Agreement by January 31, 2022. This Definitive Agreement is subject to customary Board, Exchange and regulatory approvals, as required.

Baselode reports additional uranium intersection at Ackio

TSXV: FIND

01-06-2022

Market Cap

Price as of

52-Week

52-Week

01/31/22

High

Low

$55.89MM

$0.72

$1.54

$0.40

Baselode announced final Uranium assay results from the recently completed diamond drill program on the ACKIO

Highlights include:

  • A second drill hole confirms high-grade* Uranium at ACKIO; 0.67 wt% U3O8 over 0.5 m at 131.6 m in AK21-03
  • Elevated uranium concentrations of 0.24 wt% U3O8 over 5.5 m at 128.6 m in AK21-03 and 0.24 wt% U3O8 over 2.0 m at 99.0 m in AK21-04
  • Multiple Uranium intersections occurring within 200 m of the surface

Baselode considers "high-grade" to be uranium mineralization with a concentration greater than 0.5 wt% U3O8.

Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved.

Page 4

Monthly Athabasca Basin Exploration Update

Fission 3.0 commences mobilization for winter drilling at PLN

TSXC: FUU

01-10-2022

February 2022

Market Cap

Price as of

52-Week

52-Week

01/31/22

High

Low

$42.36MM

$0.1575

$0.30

$0.08

Fission 3.0 announced that mobilization is underway for the 4000m seven hole winter drill program on its 100% owned Patterson Lake North "PLN" project in the southwest Athabasca Basin region of Saskatchewan, Canada. Drilling with two diamond drills will focus on the previously untested Broach Lake and N Conductor targets.

Highlights:

  • The orientation of five drill holes planned at Broach Lake will be based on the results of the ground geophysics that commenced in December 2021. The ground geophysics has recently identified a new third conductor at Broach Lake which will be drill tested. The ground geophysics is ongoing and is expected to refine the other Broach Lake drill targets and consists of 22 line-km of DC Resistivity and 18 line-km of Time Domain Electromagnetic (TDEM) surveying.
  • Ground geophysics is in progress at the A1 conductor to develop drill targets for summer 2022 drilling, consisting of 14 line-km of DC Resistivity and 4 line-km of Time Domain Electromagnetic (TDEM) surveying.

UEX announces winter 2022 exploration programs

TSX: UEX

01-12-2022

Market Cap

Price as of

52-Week

52-Week

01/31/22

High

Low

$165.86MM

$0.325

$060

$0.245

UEX announced its 2022 winter exploration plans for its projects located in the Athabasca Basin of northern Saskatchewan. UEX will be operating drilling programs at the Christie Lake and Hidden Bay Projects this winter. Winter programs are also planned on UEX's 50% owned company, JCU Canada Exploration Company, Limited partner-operated projects.

Christie Lake Project

Winter exploration drilling is planned for three target areas at Christie Lake using two drill rigs. The winter program will consist of approximately 15 holes for a total of 9,000 m of drilling. Based upon the UEX Exploration Team's updated structural interpretation of the Yalowega Trend, the priority of the winter program will be focused on exploring for basement-hosted uranium deposits below, down-dip and down- plunge of the Paul Bay, Ken Pen and Ōrora Deposits, as well as down-dip of existing uraniferous holes located in the gap areas between the three deposits.

Hidden Bay Project

This winter, the Company will be following up on two target areas on the 100% owned Hidden Bay Project, located in the heart of the eastern Athabasca Basin, adjacent to Cameco's Rabbit Lake Mine and Orano's McClean Lake Operation.

During the winter program, the Company will be testing drill targets in the U-Ni Sands area and in Dwyer Lake area. The Company will also be testing drill-ready targets in the Dwyer Lake area. The focus of the Dwyer Lake program will be to follow-up anomalous uranium and pathfinder geochemistry in historical drill holes located along the northeast end of the Dwyer Dome and to follow-up the promising intense hydrothermal clay alteration zone defined by 14 holes drilled in 2015, and a nearby untested resistivity/IP geophysical anomaly.

JCU Projects

Exploration activities will be occurring on two partner-operated JCU joint-venture projects this winter. A total of 7,400 m of drilling in 10- 12 drill holes and 18 line km of Moving Loop Electromagnetic surveying is planned for the Waterfound River Project along the D1 conductor trend, which hosts the Alligator Zone. JCU has a 26.98% interest (as of December 31, 2020) in the Waterfound River Project and has elected to participate in the 2022 program.

Drilling and geophysical surveys are also planned on JCU's Wolly Project, located adjacent to Orano's McClean Lake Operation. A total of 2,150 m of drilling in 8 to 12 holes is planned in three areas, including holes on the Collins Creek conductor along strike and to the west of the McClean North and South deposits, the Geneva area and the Rainbow North grid. Four lines totaling 10 km of Moving Loop Electromagnetic surveys are planned for the West Creek area. JCU has elected not to participate in the 2022 exploration program at the Wolly Project and will be diluting from its current 13.11% interest (as of December 31, 2020).

Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved.

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Purepoint Uranium Group Inc. published this content on 01 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2022 14:31:11 UTC.