PTU Purepoint Uranium Group Inc

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

Purepoint Uranium Group Inc. ("Purepoint" or the "Company") (TSX VENTURE:PTU)
today announced that it will be offering rights (the "Rights Offering") to
holders of its common shares (the "Common Shares") of record at the close of
business on January 30, 2013 (the "Record Date"), expiring March 4, 2013
("Expiry Date"). The Rights Offering will be made in all of the provinces and
territories of Canada. 


"Raising capital through this mechanism allows our shareholders the opportunity
to participate equitably while offering a longer term incentive in the form of
warrants, an instrument not typically available to the general public," said
Chris Frostad, President & CEO of Purepoint.


Shareholders of record on January 30, 2013 will receive one right (a "Right")
for each Common Share held. Ten (10) Rights plus the sum of $0.07 will entitle
the holder to subscribe for one unit of the Company (a "Unit"). Each Unit will
be comprised of one Common Share and one Common Share purchase warrant (a
"Warrant"). Each Warrant will entitle the holder to purchase an additional
Common Share at a price of $0.10 per Common Share at any time until 5:00 p.m.
(Toronto time) on March 4, 2015 (the "Warrant Expiry Date"). Rights will be
evidenced by transferable rights certificates (each, a "Rights Certificate").
The Rights expire at 5:00 p.m. (Toronto time) (the "Rights Expiry Time") on
March 4, 2013 (the "Rights Expiry Date"), after which time unexercised Rights
will be void and of no value.


Shareholders are entitled to subscribe for additional Units, subject to certain
limitations set out in the Company's Rights Offering circular. A fully
subscribed Rights Offering is expected to raise gross proceeds of approximately
$680,000, which will be used for general corporate and administrative expenses. 


Certain insiders of the Company have committed that they will be participating
in this Rights Offering.


The Rights will be posted for trading on the TSX-V and will trade under the
symbol "PTU.RT". Trading of the Rights is expected to continue until 12:00 noon
(Toronto time) on the Rights Expiry Date.


A Rights Offering circular, together with Rights Certificates, will be mailed to
eligible shareholders on or after the Record Date. Registered shareholders
wishing to exercise their Rights must forward the completed Rights Certificates,
along with the applicable funds to Equity Financial Trust Company by the Rights
Expiry Date. Shareholders who own their shares through an intermediary, such as
a bank, trust company, securities dealer or broker, will receive materials and
instructions from their intermediary.


No U.S. Registration

The securities offered will not be or have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or the securities
laws of any state of the United States, and may not be offered or sold in the
United States or to, or for the account or benefit of, any U.S. person (as
defined in Regulation S of the Securities Act) or person in the United States,
unless an exemption from such registration requirements is available. This press
release does not constitute an offer to sell or a solicitation of an offer to
buy any securities in the United States.


About Purepoint

Purepoint Uranium Group Inc. is focused on the precision exploration of its
eleven 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.


Forward-Looking Statements

This press release contains forward-looking statements, which reflect the
Company's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual events could differ
materially from those projected herein. Investors should consult the Company's
Rights Offering Circular for additional information on risks and uncertainties
relating to these forward-looking statements. The reader is cautioned not to
rely on these forward-looking statements. The Company disclaims any obligation
to update these forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Purepoint Uranium Group Inc.
Company Contact:
Chris Frostad
President & CEO
416 603 8638
www.purepoint.ca

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