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) (the "Company"), is pleased to
announce a non-brokered private placement consisting of up to 11,818,182
flow-through units (the "Units") at $0.055 per Unit for gross proceeds of up to
$650,000 (the "Offering"). Each Unit consists of one common share in the capital
of the Company 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 $0.10 per share for a period of 24 months from the date of issuance. The
Offering may be closed in one or more tranches and is subject to requisite
approval from the TSX Venture Exchange. 


In connection with the Offering, the Company intends to pay certain finders cash
commissions equal to, in the aggregate, 8% of the gross proceeds raised in the
Offering and issue to such finders non-transferrable compensation options
exercisable for common shares of the Company equal in number to, in the
aggregate, 8% of the number of Units sold under the Offering. Each compensation
option entitles its holder to purchase one common share in the capital of the
Company at an exercise price of $0.10 per share for a period of 24 months after
the closing date. 


It is expected that one or more insiders of the Company may participate in the
Offering. By virtue of such participation by the insider(s), the Offering would
constitute a "related party transaction" under applicable securities laws. The
Company expects to release a material change report including details with
respect to the related party transaction, if any, less than 21 days prior to the
closing of the Offering, which the Company deemed reasonable in the
circumstances so as to be able to avail itself of potential financing
opportunities and complete the Offering in an expeditious manner. It is expected
that neither a formal valuation nor minority shareholder approval will be
required in connection with the Offering because the Company intends to rely on
exemptions from such requirements under applicable securities laws. 


The first tranche of the Offering is expected to close on or about December 5,
2013 with the second tranche, if required, expected to close in the following
week. The net proceeds of the private placement will be used for the exploration
program of the Company to be conducted to advance the Company's eleven uranium
projects located in the Province of Saskatchewan. 


The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United
States or to, or for the benefit of U.S. persons except in certain transactions
exempt from the registration requirements of such Act. This news release shall
not constitute an offer to sell nor the solicitation of an offer to buy nor
shall there be any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.


About Purepoint Uranium Group Inc. 

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


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Purepoint Uranium Group Inc.
Chris Frostad
President & CEO
(416) 603-8368, Ext. 200
cfrostad@purepoint.ca

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