Overview

Crosshair has developed into a dominant junior mining company exploring for uranium in the Central Mineral Belt in Labrador while continuing to advance its gold and VMS projects in Newfoundland. As exploration advances within the Crosshair camp along with various other camps in the area, the Central Mineral Belt is fast emerging as the next big uranium district in Canada.

Investment Highlights

Production

Moran Lake
 

The Property

The Moran Lake Property lies approximately 135 kilometres north of Happy Valley-Goose Bay and approximately 75 kilometres southwest of the coastal community of Postville.

Exploration History

Exploration in the Central Mineral Belt in the 1950's identified uranium mineralization at Moran Lake, but it wasn't explored in detail until 1976 when Shell Canada began their first of several trenching and subsequent drilling programs on two zones. The drilling produced some of the highest grade drill intersections in the Central Mineral Belt including 0.562% U3O8 over 3.99 meters.

Geology and Mineralization

The Central Mineral Belt is a Proterozoic belt of volcanic, plutonic and sedimentary rocks that hosts hundreds of uranium and base metal occurrences and prospects.

Shell reported that a portion of the Upper C Zone is host to an inferred geological resource of 500 tonnes (1.1 million pounds) of contained U3O8, while the Lower C Zone has a potential resource of 2,236 tonnes (4.92 million pounds) of contained U3O8.

In addition to intersecting significant uranium mineralization, Shell Canada also intersected copper sulphide mineralization in several holes in the C Zone, none of which was analyzed by Shell for base or precious metals. In the B Zone, 3 kilometers to the northeast, considerable chalcopyrite mineralization and secondary copper staining was observed in several trenches. These were chip sampled and returned 11.8 meters of 0.087% U3O8, 0.28% Cu and 13.23 g/t Ag.

South Golden Promise
 

The Property

The South Golden Promise property is comprised of three claim blocks that stretch nearly 75 km. The claims are located near the town of Badger in central Newfoundland and are part of an option agreement between Crosshair and Rubicon Minerals.

Block 1 is currently being explored for high grade turbidite-hosted (analogous to Bendigo-Ballarat) gold deposits, with trenching in late 2004 yielding high grade grab samples of 105.28 g/t Au and 41.66 g/t Au (free gold observed in both). The claim blocks were staked to selectively to protect a cluster of anomalous till samples which were reported by a Government of Newfoundland survey conducted in the late 1990's. The majority of the claims are underlain by sedimentary rocks which previously had received minimal exploration interest.

Block 1 of the South Golden Promise claims is contiguous with the Rubicon Minerals' Golden Promise property which has returned drill intersections of up to 17.69 g/t Au over 2.30 meters.

In 2004, Crosshair conducted a series of systematic campaigns on the three claim blocks to seek the bedrock source of soil and till anomalies identified in the government survey. The work led to the new discovery of a series of gold bearing quartz veins on Block 1, including Bonanza Grade Gold up to 105.3 g/t Au by backhoe trenching.

The newly discovered gold-bearing quartz veins occur closely associated with a regional black shale unit which separates Silurian sediments from the underlying Ordovician sediments and volcanics. The rocks have been folded and mineralization appears to occupy structural zones associated with fold closures. Observed mineralization consists of fine to locally coarse-grained patchy arsenopyrite and pyrite with traces of galena. Several 0.5 to 1 mm specks of visible gold have been noted associated with limonitic patches.

A series of five selected grab samples collected in recent test pitting over the 5 meter exposed length of a vein (still open) returned two bonanza grade samples of 105.28 g/t Au and 41.66 g/t Au (free gold observed in both). The other three samples returned significant to anomalous results of 5.12, 0.82 and 0.16 g/t Au.

Victoria Lake
 

The Property

The Victoria Lake property (formally known as Block 4 of the South Golden Promise property) is located in north central Newfoundland. The property is comprised of 215 claims (5375 ha) and is under option from Rubicon Minerals Corporation. Crosshair is currently exploring the property for precious and base rich metal volcanic massive sulphide deposits which are known to occur in the vicinity.

The recent Messina Minerals Boomerang discovery (13.6% zinc, 4.0% lead, 0.7% copper, 102 g/t silver and 1.0 g/t gold over 13.9 meters of core), located adjacent to the Victoria Lake property.

the past producing Buchans mine (16 million tonnes @ 14.5% Zn, 7.5% Pb, 1.3% Cu, 126 g/t Ag and 1.3 g/t Au), located 60 km to the Northeast.

the Duck Pond deposit (proven and probable reserves of 4.1 million tonnes at an average grade of 3.3% Cu, 5.7% Zn, 59 g/t Ag and 0.9 g/t Au), located 55 kilometers to the Northeast.

the Messina Minerals controlled Long Lake massive sulphide prospect (historical resources of @ 0.5 million tonnes grading 16% zinc, 2% copper, 1% lead, 38 g/t Ag and 0.9 g/t gold), locaqted 15 kilometers to the northeast..
The Victoria Lake property contains documented VMS style alteration as well as several untested geochemical and geophysical anomalies outlined by Noranda in the 1980's and 1990's.

The property is highlighted by the presence of at least three distinct zones of altered (sericite-silica-pyrite) felsic volcanic rocks exhibiting several crucial massive sulphide indicators including extremely depleted sodium (0.13% to 0.33% Na2O), enriched potassium (up to 12% K2O) and enriched barium (4,940 ppm Ba) whole rock signatures. There are also unsourced, sulphide rich boulders assaying 6.5% zinc, 4.1% lead, 0.37% copper, 33.9 g/t Ag and 1.02 g/t gold. Boulders of massive barite have also been located immediately northeast of the property boundary. Soil sampling completed by both Noranda and the Company has outlined significant copper, zinc, lead and silver anomalies that locally correspond with alteration zones and geophysical targets, most of which are untested by diamond drilling.

Crosshair proposes an aggressive exploration program to follow up historic anomalies through focused rock sampling, ground geophysics and a joint orthophoto survey with Messina Minerals Inc. that will cover both Messina's and the Company's properties. A diamond drill program will follow in the fall of this year.

For more information on each of these prospects, please go to http://www.crosshairexploration.com

Recent News and Press Releases

• Crosshair Exploration and Mining Corp.: Channel Assay Results from South Golden Promise Property Update: Exclusive Focus on Labrador & Newfoundland (Tue, Dec 20)

• Crosshair Exploration and Mining Corp.: New Bedrock Assays Identify 2 New Uranium/IOCG Zones and Strategic Claims Acquired at Moran Lake, Labrador (Wed, Dec 14)

• Crosshair Exploration and Mining Corp.: Drilling to Begin at Moran Lake C Zone to Expand Uranium Resource (Thu, Dec 8)

• Crosshair Exploration and Mining Corp.: Over 25 New Uranium & IOCG Targets Identified by Airborne Survey (Wed, Nov 23)
 

Timothy Froude, P.Geo., Senior VP Exploration
Extensive experience in Newfoundland geology and mineral deposits; instrumental in building property portfolio at Cornerstone Resources; previous successes include discovery of Valentine Lake gold prospect for BP and involvement in discovery of Bobby Pond's VMS deposit for Inco.

J. Wayne Pickett, P. Geo., General Manager - Exploration
Mr. Pickett has over 25 years experience in mineral exploration in various parts of Canada, Mexico, Peru, Colombia and Ghana. He was part of the geology team that discovered the Collins Bay "B" Uranium Deposit in northern Saskatchewan for Gulf Minerals and the Bobby's Pond VMS Deposit for Inco in Newfoundland. Mr. Pickett's broad range of geological experience, and in particular his Uranium experience, will prove invaluable to the Company going forward.

Corporate Head Office

Suite 2300, 1066 West Hastings Street
Vancouver, BC Canada V6E 3X2

Corporate Phone: (604)-601-8273
Corporate Fax:(604)-601-8250
Investor Email:greg@crosshairexploration.com

CXX filings with SEDAR can be found here. All Fillings are current and the Company is fully reporting.

This report includes forward-looking statements that reflect Crosshair Exploration & Mining Corp. current expectations about its future results, performance, prospects and opportunities. Crosshair Exploration & Mining Corp. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Crosshair Exploration & Mining Corp.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.

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AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. This is an advertisement for Crosshair Exploration & Mining Corp. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.

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