PTU Purepoint Uranium Group Inc

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Purepoint Uranium Group Inc. (TSX VENTURE:PTU) is pleased to announce that it
has completed a private placement of 2,272,727 units ("Units") at a price of
$0.22 per Unit for gross proceeds of $500,000 to a group of investors including
MineralFields Group. Each Unit will consist of one flow-through common share of
Purepoint and one-half of a warrant ("Warrant"). Each whole Warrant will entitle
its holder to acquire one non-flow-through common share of Purepoint for a
period of 24 months from the date of issuance, at a price of $0.30 per share
during the first 12 months and $0.35 per share during the second 12 months. All
securities issued under this private placement are subject to resale
restrictions until October 4, 2011.


The net proceeds of this private placement will be used to further advance
Purepoint's uranium exploration projects in Saskatchewan. Canadian exploration
expenses incurred using the proceeds of the private placement will be renounced
to the purchasers of the flow-through common shares in accordance with
applicable law.


The private placement was brokered by First Canadian Securities(R), a division
of Limited Market Dealer Inc. For its services, First Canadian received a cash
fee of 5% of the gross proceeds of the offering, as well as broker's options to
acquire a number of units ("Broker's Units") equal to 5% of the number of Units
sold under the offering. Each Broker's Unit will entitle its holder to acquire
one non-flow-through common share of Purepoint and one-half of a Warrant for a
period of 24 months from the date of issuance, at a price of $0.22 per Broker's
Unit.


About Purepoint 

Purepoint Uranium Group Inc. is focused on the precision exploration of its
thirteen projects in the Canadian Athabasca Basin. Purepoint proudly maintains
project ventures in the Basin with the three largest uranium producers in the
world, Cameco Corporation, AREVA and Rio Tinto. Established in the Athabasca
Basin well before the initial resurgence in uranium earlier last decade,
Purepoint is actively advancing a large portfolio of multiple drill targets in
the world's richest uranium region. 


About MineralFields, Pathway and First Canadian Securities(R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto,
Montreal, Vancouver and Calgary, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada as well as hard-dollar resource
limited partnerships to investors throughout the world. The sector focus is on
gold and precious metals, base metals, rare earths and lithium, potash, uranium,
oil, coal and gas. Pathway Asset Management also specializes in the
manufacturing and distribution of structured products and mutual funds
(including the Pathway Multi Series Funds Inc. corporate-class mutual fund
series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities(R) (a division of Limited
Market Dealer Inc.) is active in leading resource financings (both flow-through
and hard dollar PIPE financings) on competitive, effective and service-friendly
terms, and offers investment banking, mergers and acquisitions, and mining
industry consulting, services to resource companies. MineralFields and Pathway
have financed several hundred mining and oil and gas exploration companies to
date through First Canadian Securities(R), and have raised over $1 billion in
their 10 year history.


Disclosure regarding forward-looking statements

Note: 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 Corporation. These risks and
uncertainties could cause actual results and the Corporation'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. The Corporation assumes no obligation to update forward-looking
information should circumstances or management's estimates or opinions change.

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