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Purepoint Uranium closes US$4.64 million private placement

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Purepoint Uranium Group Inc.

On November 30, 2006, Purepoint Uranium Group Inc. closed a private placement with a syndicate of agents led by Blackmont Capital Inc. and including Loewen, Ondaatje, McCutcheon Limited. The placement raised gross proceeds of $4,644,360 consisting of 2,542,000 units and 4,587,000 flow-through shares. Each unit comprises one common share and one half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one common share at $0.75 per share for a period of 18 months from the closing date. Purepoint is focused on the precision exploration of its seven 100% owned properties in the Canadian Athabasca Basin. Fasken Martineau advised Purepoint in this transaction with a team comprised of Bozidar Crnatovic, Wojtek Baraniak and Daye Kaba (student-at-law).



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