Purepoint Uranium Outlines Upcoming Exploration Plans

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today released its exploration schedule for the coming year, focusing on its large portfolio of 100% owned uranium projects strategically located across Canada's Athabasca Basin; host to the world's highest grade uranium resources.

"We intend to take full advantage of the renewed financial support afforded to us by the ongoing recovery of uranium prices," said Chris Frostad, Purepoint's President and CEO. "We are now in a position to follow up on the significant discoveries already established across our portfolio of 100% owned projects."

Highlights:

In 2022, the Hook Lake JV is turning its attention to the Carter Corridor;
- 25km band of graphitic conductors running parallel to the Patterson trend, where initial drilling has shown significant opportunity for discovery,
- Airborne geophysical work to help focus further ground surveys and prioritize drill targets is under consideration by the JV partners.
Winter drilling will focus on the Company's 100% owned Red Willow project;
- Red Willow drilling will include the expansion of the Osprey discovery (RW-40 with 0.47% U₃O₈ over 1.5m) and the Geneva discovery (RDW14-08 with 0.68% U₃O₈ over 0.3m).
Summer/Fall drilling will cover the 100% owned Turnor Lake project;
- Turnor drilling will include the Serin Zone that lies along the La Rocque conductive corridor, host to IsoEnergy's Hurricane Deposit.
In addition to this year's drilling, geophysical programs have been planned for the Tabbernor Block and Russell South projects.
Details on each specific exploration program will be released prior to their commencement.
Drilling is currently underway at Henday Lake through December.
The Q4 video update is available at: https://purepoint.ca/news/exploration-2022-lighting-up-the-basin.
A live webinar hosted by Red Cloud is scheduled for November 24, 2021 at 2 pm ET. To register to the webinar, visit https://www.redcloudfs.com/rcwebinar-ptu-2/.

"Based on intense hydrothermal alteration of Carter Corridor basement rocks within our initial 2008 drill holes, in addition to elevated radioactivity and proximity to the Clearwater intrusive heat source, Purepoint considers the Carter area one of the most prospective opportunities for a Tier 1 discovery in the Athabasca Basin today," said Scott Frostad, Vice President Exploration at Purepoint. "We are prepared for a very busy year and look forward to drill testing our highest priority targets and revisiting areas to explore for basement hosted mineralization."

Hook Lake - The Carter Corridor

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

The Patterson Lake area was recently flown by an airborne gravity survey (Boulanger, Kiss and Tschirhart, 2019) that was funded by the Targeted Geoscience Initiative (TGI), a collaborative federal geoscience program. The gravity results show the southern portion of the Carter corridor as being associated with the same gravity high response as the Triple R and Arrow uranium deposits (Figure1). The gravity low response west of the Carter corridor reflects the geologically younger, Clearwater Domain intrusions. The TGI (Potter et al., 2020) consider the Clearwater Domain intrusions as being high-heat-producers that warmed and circulated hydrothermal fluids over the structural corridors. Prolonged interaction of oxidized uranium-bearing fluids with basement rocks via reactivated faults is thought to have formed the high-grade uranium deposits.

Figure 1 - Hook Lake Project showing Carter, Patterson and Derkson Structural Corridors; background is First Derivative Gravity. Dark blue gravity low response towards the northwest reflects the Clearwater Domain intrusions.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3218/104806_fc8f36b9743f3b9b_002full.jpg

Purepoint completed three drill holes in the southern portion of the Carter corridor (HK08-01 to 03) during 2008. HK08-01 intersected very strong sericite and silica hydrothermal alteration (Fig. 2) and returned a maximum of 17 ppm U within basement rock but missed the conductor source. HK08-02 returned locally elevated radioactivity from 20 to 30 metres below the unconformity (Fig. 3) while HK08-03 intersected 60 metres of intense hydrothermal hematite alteration below the unconformity (Fig 4).

Figure 2: Core Photo of HK08-01 showing strongly hydrothermally altered basement rock from 70 to 85 metres below the unconformity

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3218/104806_fc8f36b9743f3b9b_003full.jpg

Figure 3: Geologic section of HK08-02 showing elevated radioactivity just below the unconformity

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3218/104806_fc8f36b9743f3b9b_004full.jpg

Figure 4: Core photo of HK08-03 showing strongly hematized and silicified basement rock 30 to 45 metres below the unconformity

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3218/104806_fc8f36b9743f3b9b_005full.jpg

Red Willow

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. An airborne EM survey in 2007 outlined over 70 kilometres of conductors that in most instances represent favourable graphitic lithology. A total of twenty-one conductive zones have been identified as priority exploration targets of which only seven have been subject to first pass drilling.

Turnor Lake

The 100%-owned Turnor Lake project consists of 4 claims totaling 9,705 hectares on the eastern side of Canada's Athabasca Basin. Four distinct exploration areas have been defined by Purepoint - the Serin Conductor, the Laysan Zone, the Turnor Lake Zone and the Turaco Zone. The high priority Serin conductor lies within the La Rocque corridor that hosts Orano Canada Inc.'s Alligator prospect (3.8% U3O8 over 10.5m in hole WF-08), Cameco Corp's La Rocque showing (29.9% U3O8 over 7.0m) and, most recently, IsoEnergy Ltd.'s Hurricane Zone which has reported results of 38.8% U3O8 over 7.5m (press release December 1, 2020).

References

Boulanger, O., Kiss, F. and Tschirhart, V., 2019. First Vertical Derivative of the Bouguer Gravity Anomaly, Airborne Gravity Survey of the Patterson Lake Area, Athabasca Basin, Alberta and Saskatchewan, Parts of NTS 74-E, F, K and L; Geological Survey of Canada, Open File 8534; Alberta Energy Regulator / Alberta Geological Survey, AER/AGS Map 592; Saskatchewan Geological Survey, Open File Report 2019-2; Scale 1:250 000.
https://doi.org/10.4095/313526

Potter, E.G., Tschirhart, V., Powell, J.W., Kelly, C.J., Rabiei, M., Johnstone, D., Craven, J.A., Davis, W.J., Pehrsson, S., Mount, S.M., Chi, G., and Bethune, K.M., 2020. Targeted Geoscience Initiative 5: Integrated multidisciplinary studies of unconformity-related uranium deposits from the Patterson Lake corridor, northern Saskatchewan; Geological Survey of Canada, Bulletin 615, 37 p.
https://doi.org/10.4095/326040

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.

For more information, please contact:

Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104806

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Purepoint Uranium TSXV:PTU Uranium Investing

NexGen Achieves Major Permitting Milestone

The Canadian Nuclear Safety Commission ("CNSC") has notified NexGen of successful completion of final Federal technical review.
This is the key requirement to scheduling a Federal Commission Hearing date and subsequent Federal Project approval decision.
The Federal Environmental Assessment ("EA") and License represent the final major approval steps after having received Provincial EA approval in November 2023 .
In production, the Rook I Project is poised to make NexGen one of the world's largest and most environmentally conscious mining companies.

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is excited and proud to announce a major milestone in the Federal EA process for its 100%owned Rook I Project ("the Project"). The CNSC has provided NexGen formal confirmation that the Company has successfully addressed all information requests received as part of the Federal technical review. With completion of the CNSC technical review, the next and final steps in the Federal approval process include scheduling a Commission Hearing Date for the Project, subject to which the CNSC will render an approval decision on the Project.

This historic milestone marks a crucial step forward for the Project that has been undergoing Canada's robust and rigorous regulatory process since 2019. Completion of the Federal EA technical review stage follows the CNSC having deemed NexGen's Federal licence application sufficient in September 2023 , and receipt of Provincial EA approval in November 2023 . This development reinforces Canada's path to re-establish itself as the leader in global uranium supply and partner of choice.

Leigh Curyer, Chief Executive Officer, commented: "This exciting outcome is a testament to the exceptional efforts of our entire NexGen team, the collaborative support of our valued Indigenous Nation partners, and our transparent approach with the CNSC to ensure a robust and thorough review that meets the highest standards of environmental protection for the sustainable development of the Rook I Project. Since inception, our honest and innovative holistic approach to the successful development of this generational project has set new industry standards as to what is possible, whilst positively impacting all our valued stakeholders.

Together with the Clearwater River Dene Nation, Métis Nation – Saskatchewan Northern Region 2 and Métis Nation – Saskatchewan , Buffalo River Dene Nation, and Birch Narrows Dene Nation, we are construction ready to deliver transformative and unprecedented social, economic and environmental benefits to local communities, the Province of Saskatchewan, Canada , and the world.

We're not just developing a mine - we're building strong communities while shaping a sustainable and secure global energy future. With over $800 million in cash and liquid assets, we are ready pending a positive Commission decision with all activities required to immediately commence major site works in place."

NexGen is poised to propel Canada back to the forefront of global clean energy fuel production. The Rook I Project embodies NexGen's commitment to elite environmental performance, unprecedented community inclusion, and responsible alignment with global net-zero goals.

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company's flagship Rook I Project is being optimally developed into the largest, low-cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations, and closure. NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically, and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada , and the world.

NexGen is listed on the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol "NXE," and on the Australian Securities Exchange under the ticker symbol "NXG," providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security, and access to power. The Company is headquartered in Vancouver, British Columbia , with its primary operations office in Saskatoon , Saskatchewan.

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission ("SEC") set by the SEC's rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to estimates for CapEx, OpEx and a payback period of 12 months, the appointment of a lead lender group, the availability of financing for the Project, the advancement of detailed engineering and contract negotiations, bolstering the globe's uranium supply chains to meet the rising demand for nuclear energy, the timing and cost of reclamation, including as part of the UGTMF and after-tax free cash flow remaining materially consistent with the FS, Free Cash Flow, Payback Period and IRR relative to various uranium prices, the delivery of clean energy fuel for the future, the development of the largest low cost producing uranium mine globally and incorporating elite standards in environmental and social governance, delivering a project that leads the entire mining industry socially, technically and environmentally, providing generational long-term economic, environmental and social benefits for Saskatchewan, Canada and the world, planned exploration and development activities and budgets, the interpretation of drill results and other geological information, mineral reserve and resource estimates (to the extent they involve estimates of the mineralization that will be encountered if a project is developed), requirements for additional capital, capital costs, operating costs, cash flow estimates, production estimates, the future price of uranium and similar statements relating to the economics of a project, including the Rook I Project. Generally, forward-looking information and statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Forward-looking information and statements are based on NexGen's current expectations, beliefs, assumptions, estimates and forecasts about its business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including, among others, that financing for the Project will be available in a timely manner and on terms acceptable to the Company, the results of planned exploration and development activities will be as anticipated and on time; the price of uranium; the cost of planned exploration and development activities; that, as plans continue to be refined for the development of the Rook I Project, there will be no changes in costs, engineering details or specifications that would materially adversely affect its viability; that financing will be available if and when needed and on reasonable terms; that third-party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration and development activities will be available on reasonable terms and in a timely manner; that there will be no revocation of government approvals; that general business, economic, competitive, social and political conditions will not change in a material adverse manner; the assumptions underlying the Company's mineral reserve and resource estimates and updated/revised CapEx, OpEx, SusEx, and pay back period; assumptions made in the interpretation of drill results and other geological information; the ability to achieve production on the Rook I Project; and other estimates, assumptions and forecasts disclosed in the Feasibility Study for the Rook I Project. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements were considered reasonable by management at the time they were made, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third-party financing, uncertainty of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, the imprecision of mineral reserve and resource estimates, the price and appeal of alternate sources of energy, sustained low uranium prices, aboriginal title and consultation issues, development risks, climate change, uninsurable risks, reliance upon key management and other personnel, risks related to title to its properties, information security and cyber threats, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, changes in laws, regulations and policy, competition for resources, political and regulatory risks, general inflationary pressures, industry and economic factors that may affect the business, and other factors discussed or referred to in the Company's most recent Annual Information Form under "Risk Factors" and management's discussion and analysis under "Other Risks Factors" filed on SEDAR+ at www.sedarplus.ca and 40-F filed on Edgar at www.sec.gov .

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

View original content to download multimedia: https://www.prnewswire.com/news-releases/nexgen-achieves-major-permitting-milestone-302309673.html

SOURCE NexGen Energy Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/19/c8458.html

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Overview

Company Highlights

Key Projects

Hook Lake Project

Smart Lake Project

Purepoint & IsoEnergy Joint Venture

Management Team

Chris Frostad - President and CEO

Scott Frostad - VP of Exploration

Ram Ramachandran - CFO

Jeanny So - Corporate Communications

Resource update underway in preparation for bringing significant satellite deposits into the mine plan

Strategy aligns with global efforts to expand nuclear power

Private sector support for nuclear energy in full swing

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