Crosshair Exploration & Mining Corp. - Shirley Basin

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CMB Division Gemini Division Target Division

Shirley Basin

Photos

Key Highlights

Contains an NI 43-101 indicated resource of 1.09 million pounds of uranium and an additional inferred resource of 3.25 million pounds of uranium
The project is designed for near-term production potential
Exceeded minimum mining threshold for uranium in this part of the world
Uranium mineralization on the properties has the potential to be recovered by in-situ recovery methods

Geology

The Bootheel Property hosts a historic resource defined by exploration work conducted in the 1970's that remains open for expansion. Historic work has identified uranium mineralization in roll front settings up to 600 ft wide, 25 ft thick, having an average grade of 0.044% U3O8.

The Buck Point Zone also remains open for expansion. Mineralization has been found in at least 6 sandstone units over a 250 ft. interval, with grades up to 0.10% U3O8. By analogy to Bootheel, the property is considered to have potential to host significant uranium mineralization.

Previous Exploration

The Bootheel Property is considered an advanced exploration property due to the amount of previous drilling for which the historical data was recently compiled.

Buck Point is considered an exploration property with excellent potential to expand the known mineralization.

Based on the historical drilling and preliminary metallurgical test work, both properties have potential for in-situ recovery should sufficient resources be defined.

Historic Drill Map

A total of 50,163 feet in 93 holes was completed during the 2008 summer drill program, which appears to have confirmed and expanded the limits of the known mineralization.

Holes drilled within the existing historical resource areas are highlighted by:

0.055% eU3O8 over 51.0 feet in hole 06-3008
0.042% eU3O8 over 23.0 feet in hole 36-3000
0.132% eU3O8 over 4.0 feet and 0.068% eU3O8 over 14.5 feet in hole 06-3010

Holes drilled outside of the existing historic resource areas are highlighted by:

0.056% eU3O8 over 14.0 feet in hole 01-3004
0.075% eU3O8 over 15.5 feet in hole 01-3069
0.050% eU3O8 over 23.5 feet in hole 01-3070

Historic Uranium Resources and 2008 Drill Targets

Click here to view the latest drill results

Cross Section of Bootheel Project

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An initial resource estimate has been completed for the Bootheel project which includes an indicated resource of 1.09 million pounds of uranium (1.44 million tonnes grading 0.038% U3O8) and an inferred resource of 3.25 million pounds of uranium (4.40 million tonnes grading 0.037% U3O8). The resource remains open for expansion with less than 60% of the historical resource area included in this initial estimate.

Drill Holes, Mineralized Zones & Topography

Technical Report

Click here for the complete NI 43-101 report on the Shirley Basin (PDF 6MB)