Crosshair to extend drilling at Armstrong

Crosshair Exploration & Mining Corp. announces that uranium mineralization has now been intersected along a strike length of 300 metres (m) at Armstrong on the Company’s Central Mineral Belt (CMB) Uranium Project in Labrador.

With the successful completion of its 2008 winter drill program, Crosshair has anchored the southern end of the 4.5 kilometre (km) long uranium mineralized corridor, which includes the C Zone to the north, Area 1 in the centre and now Armstrong to the south.

All three areas remain open. Drilling conducted subsequent to the impressive intersection reported previously from drill hole ML-AR-26 (0.2% U3O8 over 9.5m) is highlighted by:

0.14% U3O8, 0.26% vanadium, 15.2 g/t silver and 0.45% copper over 3.6 m (from 193.6 m to 197.2 m) in hole ML-AR-27,
0.10% U3O8 over 4.0 m (from 32.4 m to 36.4 m) in hole ML-AR-29, and
0.07% U3O8 over 3.1 m (from 37.1 m to 40.2 m), including
0.10% U3O8 over 1.6 m (from 37.1 m to 38.7 m) in hole ML-AR-30.

Copper and silver enrichment, as demonstrated by ML-AR-27 above, is also noted elsewhere at Armstrong. For example, ML-AR-16 returned 12.5 m of 0.26% copper and 9.3 g/t silver from 99.5 m to 112.0 m.

In addition to uranium mineralization, it is exciting to see local vanadium, copper and silver enrichment at Armstrong, says Paul Hosford, President and COO.

We have quite a substantial vanadium resource at the C Zone and to see it at Armstrong is very promising. The vanadium component of our deposit will be further investigated this summer, as the demand for the metal continues to increase, added Mr. Hosford.

Vanadium is primarily used as a hardener in steel alloys. As the demand for steel continues to grow, so does the demand for vanadium.

It has a current market value of approximately US$15.00 per pound. The current C Zone vanadium resource only represents the vanadium associated with uranium and does not include significant zones of vanadium mineralization outside of the current C Zone uranium resource.

Armstrong and the entire 4.5 km long corridor fall outside of Labrador Inuit Lands and are not directly impacted by the Nunatsiavut Government’s recent decision to place a three year moratorium on uranium mining within their self-governed Labrador Inuit Lands.

This moratorium was put in place in order to allow the Nunatsiavut Government time to establish a lands administration system, develop an Environmental Assessment Act and environmental protection legislation.