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 the closing of the second tranche of the non-brokered private placement
announced on December 3, 2013, for gross proceeds of $441,949. The Company
issued 8,035,436 flow-through units at a price of $0.055 per unit. Each
flow-through 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 closing is
subject to final acceptance by the TSX Venture Exchange of the private
placement. 


In connection with the closing of the second tranche of the private placement,
the Company paid finders' fees consisting of $35,355.92 (plus applicable taxes)
in cash and issued 642,834 non-transferable compensation options to certain
finders. 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. 


Together with the first tranche closing of the private placement announced on
December 6, 2013, the Company issued a total of 13,554,254 flow-through units
under the private placement for aggregate gross proceeds of $745,484, paid
finders' commission in an aggregate amount of $57,958.72 and issued 1,053,794
compensation options to certain finders. 


Mr. James B.C. Doak, a director of the Company, participated in the private
placement by subscribing 181,818 flow through units for $10,000. By virtue of
such participation by the insider, the private placement constitutes a related
party transaction under applicable securities laws. Neither independent
valuation nor minority shareholder approval was required to complete the related
party transaction because the Company relied on exemptions from both
requirements under applicable securities laws. 


The Company also announces its intention to further raise the ceiling for the
private placement from $750,000 to $850,000. Up to 15,454,545 flow-through units
at a price of $0.055 per unit are issuable pursuant to the private placement.
The Company expects to close the last tranche of the private placement on or
before December 31, 2013. 


All securities issued in connection with the second tranche of the private
placement are subject to a four-month hold period pursuant to the applicable
securities laws with an expiry date of April 24, 2014. 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. 


About Purepoint Uranium Group Inc. 

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.


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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