Crosshair Exploration & Mining Corp.
TSX VENTURE : CXX

Crosshair Exploration & Mining Corp.

April 05, 2006 09:15 ET

Crosshair Exploration and Mining Corp.: Phase 1 C-Zone Drilling Expands Uranium Zone at Depth

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 5, 2006) - Crosshair Exploration and Mining Corp. (TSX VENTURE:CXX) (the "Company") is pleased to provide assay results from the first 9 of 19 holes drilled at the Upper C Zone at Moran Lake, Labrador during the recently completed Phase 1 drill program. The assay results are consistent with those from drilling done by Shell Canada and used in the NI43-101 resource estimate (see news release dated December 8, 2005). All 9 holes hit multiple zones of uranium mineralization and were successful in extending the zones from the original depth of 75 meters down to 125 meters and all zones remain open at depth.

Holes ML-1 to ML-9 were drilled on 3 sections (1750E, 1700E, and 1650E - see map on website at www.crosshairexploration.com/s/Addenda.asp?ReportID=133994) while holes ML-10 to ML-19 were drilled on 7 additional sections along strike to the southwest towards Area 1 and include holes ML-18 and 19, drilled on section 1075E, 25 meters beyond the furthest Shell drilling.

Results for uranium (U3O8) from holes ML-1 through ML-9 are tabulated below.



Hole # Section From To Length (m) U3O8
-------------------------------------------------------------------
ML-1 1750 E 46.31 50.65 4.34 0.197%
Including 46.58 49.55 2.97 0.265%

ML-2 1750 E 57.35 58.40 1.05 0.051%
62.40 63.00 0.60 0.079%
65.00 71.10 6.10 0.104%
Including 68.95 71.60 2.65 0.231%

ML-3 1750 E 26.30 26.60 0.30 0.065%
49.00 50.50 1.50 0.139%
74.70 75.20 0.50 0.070%
88.80 101.70 12.90 0.100%
Including 88.80 91.30 2.50 0.462%
Including 99.70 100.20 0.50 0.216%
122.10 124.10 2.00 0.045%
126.60 129.00 2.40 0.181%
133.00 134.50 1.50 0.065%

ML-4 1750 E 53.80 54.30 0.50 0.066%
55.30 56.30 1.00 0.176%
95.40 95.90 0.50 0.057%

ML-5 1750 E 58.88 59.64 0.76 0.046%
63.48 63.70 0.22 0.099%
98.43 99.13 0.70 0.085%
101.50 102.30 0.80 0.082%
126.50 130.00 3.50 0.250%
Including 127.00 128.50 1.50 0.517%
139.70 141.30 1.60 0.064%

ML-6 1750 E 97.93 99.13 1.20 0.060%
107.90 108.95 1.05 0.066%
120.20 121.70 1.50 0.023%
124.70 125.80 1.10 0.045%
127.30 128.80 1.50 0.060%
139.44 141.16 1.72 0.089%
156.20 157.30 1.10 0.048%

ML-7 1700 E 129.00 133.35 4.35 0.100%
Including 131.07 132.75 1.68 0.248%

ML-8 1700 E 88.65 90.05 1.40 0.215%
96.50 98.50 2.00 0.074%

ML-9 1650 E 89.60 95.63 6.03 0.107%
Including 92.37 95.13 2.76 0.208%
Including 92.67 94.13 1.46 0.389%


Two additional holes were completed on Section 1650E in addition to hole ML-9 (ML-10 and 11), and assays will be reported as part of the second half results.

IOCG System

The results to date continue to confirm the presence of a large Uranium/IOCG system. Of note, the intersection in ML-9 returning 6 meters of 0.107% U3O8, also returned 2.76 meters of 0.395% copper, 19.7 g/t silver and 0.111% V2O5. A complete table of results including vanadium, copper and silver has been posted on the Company website.

2006 Work Program

The 2006 work program includes approximately 20,000 additional meters of drilling utilizing two rigs, including a second phase of drilling at the Upper C zone designed to continue expanding the resource to depth and along strike. Drilling will also test new targets within the IOCG system - Areas 1 to 4, and unconformity targets on the property - Area 51, Moran Heights Boulder field, and Croteau Lake. The program will be formulated once all results are tabulated and analysed and details will be announced in a news release.

All exploration activities on this project are being directed by Timothy Froude P. Geo., Senior Vice President of Exploration, who is the Qualified Person as defined by National Instrument 43-101.

Corporate Matters

The Company has granted five year incentive stock options to purchase 2,000,000 shares at $1.30 per share, subject to regulatory approval.

About Crosshair

Crosshair is an aggressive uranium and gold exploration and development company with select projects in Newfoundland & Labrador. The Company has developed into a dominant player in the Central Mineral Belt of Labrador. The 685 sq km Moran Lake Uranium / IOCG Project is being explored for three significant types of uranium mineralization - Iron Oxide Copper Gold (IOCG - Olympic Dam), structurally controlled - shear zone ("Michelin") and unconformity types of mineralization. In addition, through an option agreement with Rubicon Minerals Corporation, Crosshair has secured a position in one of the most prospective massive sulphide districts in Canada as well as a promising early stage high grade gold property at South Golden Promise.

For more information of the Company and its properties, please visit the website at www.crosshairexploration.com.

ON BEHALF OF THE BOARD

"Mark J Morabito"

President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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