Purepoint Uranium closes first tranche of financing

Mr. Chris Frostad reports PUREPOINT URANIUM CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT Purepoint Uranium Group Inc. has closed the first tranche of its previously announced private placement of 772,946 traditional flow-through units at a price of 59 cents per unit for aggregate gross proceeds of $456,038.14. Each flow-through unit consists of one common share in the capital of the company, to be issued on a flow through basis pursuant to the Income Tax Act (Canada), and one common share purchase warrant. Each warrant entitles its holder to purchase one common share in the capital of the company at an exercise price of 50 cents per share for a period of 24 months from the date of issue. The closing is subject to final acceptance by TSX Venture Exchange of the private placement. The company is targeting to close the second tranche of the private placement on or around Sept. 5, 2025. The book is now fully subscribed and no further subscriptions will be accepted. In connection with the closing of the first tranche of the private placement, the company paid Haywood Securities Inc., Raymond James Ltd. and Accilent Capital Management Inc. finders' fees consisting of, in aggregate, $27,362.29 in cash and 46,377 non-transferable compensation warrants. Each compensation warrant entitles its holder to purchase one common share in the capital of the company at an exercise price of 50 cents per share for a period of 24 months from the closing date. The net proceeds of the private placement will be used for the exploration and advancement of the company's projects in the Athabasca basin in Saskatchewan. All securities issued in connection with the closing of the first tranche of the private placement are subject to a four-month hold period pursuant to the applicable securities laws with an expiry date of Dec. 30, 2025. About Purepoint Uranium Group Inc. Purepoint is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca basin in Canada. Highly prospective uranium projects are actively operated on behalf of partnerships with industry leaders, including Cameco Corp., Orano Canada Inc. and IsoEnergy Ltd. Additionally, the company holds a promising VHMS (volcanic-hosted massive sulphide) project currently optioned to, and strategically positioned adjacent to and on trend with, Foran Corp.'s McIlvena Bay project. Through a robust and pro-active exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts. We seek Safe Harbor.