TORONTO, Jan. 23,
2025 /PRNewswire/ - IsoEnergy Ltd. (TSX: ISO)
(OTCQX: ISENF) ("IsoEnergy") and Purepoint Uranium Group
Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") are pleased to
announce the commencement of their 2025 exploration program,
supported by a $5,000,000 budget for
the newly formed 50/50 joint venture ("Joint Venture").
The Joint Venture spans over 98,000 hectares and consolidates 10
high-valued uranium projects into three distinctive areas in
Saskatchewan's eastern
Athabasca Basin: the Dorado
Project, the Aurora Project and the Celeste Block (Figure 1).
Dorado Project: Unlocking the Potential of the Larocque
Trend
- Positioned along the renowned Larocque conductive corridor
(the "Larocque Trend"), home to IsoEnergy's Hurricane
Deposit, the Dorado Project consolidates Turnor Lake, Geiger, Edge and most of Full
Moon into a single high-priority exploration initiative (Figure
2).
- Exploration will focus on the high-priority target zones
defined by graphitic conductors that wrap around a central
granitic dome. A unified approach will integrate and re-evaluate
all historical geophysical work and drill hole geology across the
properties.
- The Larocque Trend extends across the Turnor Lake property to the northern boundary
of Full Moon, located 14 kilometers east of the Hurricane Deposit.
Drilling has revealed a shallow vertical depth to the unconformity,
ranging from just 27 to 133 metres and several highly
prospective yet untested zones remain. Additionally at Geiger,
historical drilling intersected high-grade basement-hosted uranium
mineralization, including 2.74% U₃O₈ over 1.2 metres in drill
hole HL-50 along the H11 South conductor (See press release dated
January 25, 2018). Geiger is
characterized by 20 kilometers of graphitic conductors, with
significant untested gaps of up to 1,000 metres, presenting
exceptional exploration potential.
- Approximately 5,400 metres in 18 drill holes are planned for
2025.
Aurora Project: Shallow Uranium Targets Along the
Athabasca Basin's Edge
- The remaining claims east of Dorado now make up the Aurora
Project, including, part of Full Moon, Red
Willow, and Collins Bay Extension, presenting significant
near-surface uranium potential in proximity to McClean Lake
mine, and Rabbit Lake mine and
mill.
- An airborne geophysical survey is planned for 2025.
Celeste Block: Preparing Southern Targets for
Exploration
- Incorporates Thorburn, North
Thorburn, Madison and 2Z properties, which cover portions of
conductor trends east of the Cigar Lake Mine and southwest of the
Rabbit Lake and McClean Lake mines (Figure 1). Target depth is
relatively shallow as sandstone thickness ranges between 60 metres
at Madison in the east to 350 metres at Thorburn in the west.
- Near-term efforts will focus on drill testing recent
geophysical results at Madison where sandstone cover is thin, and
limited historical drilling has been completed, with just one hole
drilled since 1989.
- Approximately 800 metres in 4 drill holes are planned for
2025.
"The 2025 Joint Venture program underscores our focus on
advancing Dorado within the Larocque Trend, an area of exceptional
potential," said Chris Frostad,
President and CEO of Purepoint. "While Dorado is the centerpiece of
this coming year's efforts, we are also performing critical work on
the Aurora and Celeste Block projects to ensure these promising
targets remain ready for future exploration. Purepoint is excited
to execute on the program as the operator, with IsoEnergy's
oversight providing valuable guidance and expertise."
Qualified Person Statement
The scientific and technical information contained in this news
release relating to IsoEnergy was reviewed and approved by Dr.
Dan Brisbin, P.Geo., IsoEnergy's
Vice President, Exploration, who is a "Qualified Person" (as
defined in NI 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101")).
For additional information with respect to the current mineral
resource estimate for IsoEnergy's Hurricane Deposit, please refer
to the Technical Report prepared in accordance with NI 43-101
entitled "Technical Report on the Larocque East Project,
Northern Saskatchewan, Canada"
dated August 4, 2022, available under
IsoEnergy's profile at www.sedarplus.ca.
This news release refers to properties other than those in which
IsoEnergy and Purepoint have an interest. Mineralization on those
other properties is not necessarily indicative of mineralization on
the Joint Venture properties.
About IsoEnergy Ltd.
IsoEnergy (TSX: ISO) (OTCQX: ISENF) is a leading, globally
diversified uranium company with substantial current and historical
mineral resources in top uranium mining jurisdictions of
Canada, the U.S. and Australia at varying stages of development,
providing near-, medium- and long-term leverage to rising uranium
prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the
Hurricane deposit, boasting the world's highest-grade indicated
uranium mineral resource.
IsoEnergy also holds a portfolio of permitted past-producing,
conventional uranium and vanadium mines in Utah with a toll milling arrangement in place
with Energy Fuels. These mines are currently on standby, ready for
rapid restart as market conditions permit, positioning IsoEnergy as
a near-term uranium producer.
About Purepoint Uranium Group Inc.
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a
focused explorer with a dynamic portfolio of advanced projects
within the renowned Athabasca
Basin in Canada. The most
prospective projects are actively operated on behalf of
partnerships with industry leaders including Cameco Corporation,
Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising VHMS project
currently optioned to and strategically positioned adjacent to and
on trend with Foran Corporation's McIlvena Bay project. Through a
robust and proactive exploration strategy, Purepoint is solidifying
its position as a leading explorer in one of the globe's most
significant uranium districts.
www.purepoint.ca
www.isoenergy.ca
Neither the Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This press release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". This forward-looking
information may relate to planned exploration activities for 2025,
including the timing thereof and the anticipated results thereof;
and any other activities, events or developments that the companies
expect or anticipate will or may occur in the future.
Forward-looking statements are necessarily based upon a
number of assumptions that, while considered reasonable by
management at the time, are inherently subject to business, market
and economic risks, uncertainties and contingencies that may cause
actual results, performance or achievements to be materially
different from those expressed or implied by forward-looking
statements. Such assumptions include, but are not limited to, that
planned exploration activities are completed as anticipated;
the anticipated costs of planned exploration activities, the
price of uranium; that general business and economic conditions
will not change in a materially adverse manner; that financing will
be available if and when needed and on reasonable terms; and that
third party contractors, equipment and supplies and governmental
and other approvals required to conduct the Joint Venture's planned
activities will be available on reasonable terms and in a timely
manner. Although each of IsoEnergy and Purepoint have attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information.
Such statements represent the current views of IsoEnergy and
Purepoint with respect to future events and are necessarily based
upon a number of assumptions and estimates that, while considered
reasonable by IsoEnergy and Purepoint, are inherently subject to
significant business, economic, competitive, political and social
risks, contingencies and uncertainties. Risks and uncertainties
include but are not limited to the following: the inability of the
Joint Venture to complete the exploration activities as currently
contemplated; regulatory determinations and delays; stock market
conditions generally; demand, supply and pricing for uranium; and
general economic and political conditions in Canada, the United
States and other jurisdictions where the applicable party
conducts business. Other factors which could materially affect such
forward-looking information are described in the risk factors in
each of IsoEnergy's and Purepoint's most recent annual management's
discussion and analyses or annual information forms and IsoEnergy's
and Purepoint's other filings with the Canadian securities
regulators which are available, respectively, on
each company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and
Purepoint do not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
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SOURCE IsoEnergy Ltd.
