Purepoint Uranium Group: Rio Tinto Options Purepoint’s Red Willow Project

Purepoint Uranium Group Inc. (TSXV:PTU) reports that they have entered into a definitive option agreement with Rio Tinto Exploration Canada Inc. (ASX:RIO) for Purepoint’s Red Willow project.

The press release is quoted as saying:

Rio Tinto Exploration Canada Inc. is a wholly owned subsidiary of RioTinto, the world’s third largest producer of uranium.

Purepoint Uranium’s (TSXV:PTU) President and CEO, Chris Frostad says:

“Recent increases in nuclear power projections have put significant pressure on major uranium producers to explore for large, high value mineral deposits” “We are excited that Rio has confirmed that level of potential in Purepoint’s Red Willow project and chosen it as their entry point to the Athabasca Basin”.

Click here to access the entire news release.