Purepoint Uranium Group Inc. announced drilling has commenced at the Hook Lake Project. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%). The Project lies on the southwestern edge of Canada's Athabasca Basin and is adjacent to, and on trend with, high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.

Approximately 2,500 metres of diamond drilling are planned in five holes testing the Carter Corridor. The program will follow up on hole CRT23-05, which returned an assay of 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) from a basement-hosted 15-metre graphitic shear zone (318 to 333m downhole depth) before encountering five metres of intense clay alteration. In addition, the CRT23-05 mineralization was found to have a significant boron halo over 35 metres (305-340m) returning assays greater than 800 ppm B at the boundaries.

The Carter corridor represents a long-lived, reactivated fault zone that lies between the Clearwater Domain granitic intrusive rocks to the west and runs parallel to the Patterson structural corridor to the immediate east. The 25-kilometre strike length of the Carter structural/conductive corridor is almost entirely located within the Hook Lake JV project. The Hook Lake JV Project is owned jointly by Cameco Corp.

(39.5%), Orano Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV Project is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity. Last year, Purepoint drilled 2,710 metres in six holes to test the Carter Corridor.

As this was our first pass drilling, the main conductive trend was tested using 800 metre step-outs towards the north to identify the most prospective geology. Drill hole CRT23-05 intersected a sheared/faulted chlorite-altered, graphitic diorite gneiss over 15 metres before encountering five metres of intense clay alteration. The graphitic shear returned an assay of 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) that was associated with a distinct boron halo over 35 metres (305 to 340m).