Announcement • Aug 01
Purepoint Uranium Group Reports Results from First Phase of 2026 Summer Drill Program on Dorado Project Purepoint Uranium Group Inc. reported results from the first phase of its 2026 summer drill program on the Dorado Project. The final hole completed prior to a scheduled mid-program break, NV26-11, intersected 5.6 metres of continuous radioactivity averaging 11,730 cps from the downhole probe, including a peak reading of 53,300 counts per second ("cps"), at the Nova Discovery. The radiometric response is consistent with the high-grade uranium mineralization previously intersected at Nova, with laboratory assays pending. Four drill holes were completed during the first phase of the 2026 program. Hole NV26-11 intersected 5.6 metres of continuous radioactivity from 337.9 to 343.5 metres, averaging 11,730 cps. The interval includes 1.7 metres averaging 31,800 cps. A higher-intensity core averaged 43,480 cps over 1.1 metres. Maximum downhole probe reading reached 53,300 cps. The results provide additional information supporting the interpreted continuity and orientation of the Nova mineralized system. Laboratory assays are pending. The first phase of this summer drilling tested both the Q23 and Nova target areas. The first three holes encountered localized radioactive intervals that contributed to the Company's understanding of the geological setting and structural controls. The final hole, NV26-11, intersected 5.6 metres of radioactivity averaging 11,730 cps between 337.9 and 343.5 metres, from a strongly hematite altered granitic gneiss/pelitic gneiss contact. The intercept represents the broadest continuous radioactive interval encountered during the program. The latest holes have provided additional information regarding the continuity and orientation of the Nova mineralized system. Detailed geological logging, structural interpretation and geochemical sampling are underway during the scheduled break before drilling resumes. Table 1. Phase 1 Downhole Probe Results Hole Target Area From-To (m) Length (m) Avg cps Max cps PG26-08 Q23 248.1-250.1 2.0 850 1,670 PG26-09 Q23 221.2-222.5 1.3 710 1,170 232.7-234.4 1.7 780 - 311.5-312.1 0.6 890 - 315.7-316.0 0.3 800 - NV26-10B Nova 389.7-390.5 0.8 700 830 399.4-399.8 0.4 1,100 1,670 453.1-453.6 0.5 1,650 3,010 NV26-11 Nova 337.8-343.4 5.6 11,730 53,300 including 337.8-339.5 1.7 31,800 - Table 2. Phase 1 Drill Hole Statistics Target NAD 83 - UTM Zone 13 Azimuth Dip Depth Hole Area Easting Northing (degrees) (degrees) (m) PG26-08 Q23 548358 6468962 039 -60 515 PG26-09 Q23 548358 6468962 039 -75 401 NV26-10B Nova 548811 6475892 334 -64 524 NV26-11 Nova 548811 6475892 321 -64 487 PG26-08 is interpreted to represent a thorium-related radiometric response based on handheld spectrometer readings. Downhole probe readings have been rounded and measure natural gamma radiation and are not uranium grades. Laboratory assays are pending. Reported interval lengths represent downhole length. True width has not been determined. The Dorado Project is located along the eastern margin of Saskatchewan's Athabasca Basin in Canada. The property covers a prospective structural corridor considered favourable for unconformity-related uranium mineralization and is operated by Purepoint under a 50/50 joint venture with IsoEnergy Ltd. Dorado hosts the Nova Discovery, where previous drilling returned assays of up to 8.1% U3O8 over 0.4 metres withing 1.62% U3O8 over 2.1 metres. Uranium mineralization has been identified along a prospective structural corridor extending approximately one kilometre and is associated with intense alteration, structural disruption and graphitic basement rocks. The current drill program is designed to improve the understanding of the geometry and continuity of the Nova mineralized system while evaluating additional priority targets across the property. A Mount Sopris 2PGA-1000 downhole total gamma probe was utilized for radiometric surveying and reported counts per second. New Risk • Apr 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$4.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.6m free cash flow). Earnings have declined by 6.9% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (CA$36.9m market cap, or US$26.9m). 
