SOURCE: Crosshair Exploration & Mining Corp.

May 03, 2007 09:30 ET

CROSSHAIR RECEIVES APPROVAL TO LIST ON THE AMERICAN STOCK EXCHANGE

VANCOUVER, BC -- (MARKET WIRE) -- May 3, 2007 --


                    "Targeting Uranium and Gold"

NEWS RELEASE

                 CROSSHAIR RECEIVES APPROVAL TO LIST
                   ON THE AMERICAN STOCK EXCHANGE

Dated: May 3, 2007                            TSX-V: CXX
Crosshair Exploration and Mining Corp. (TSX-V: CXX) (the "Company") is pleased to announce that it has received approval to list its common shares on the American Stock Exchange (AMEX). Shares of Crosshair are expected to commence trading on May 7, 2007 under the symbol CXZ.

This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.

"Crosshair's listing on the American Stock Exchange represents an important milestone in the Company's corporate development path", says Mark J. Morabito, Crosshair's President and CEO. "There is significant demand in the U.S. market for companies that are advancing uranium projects. Our AMEX listing will provide a more convenient trading market for U.S. investors, significantly enhancing Crosshair's visibility within the U.S. investment community".

Crosshair has approximately 71 million shares outstanding, CAD $14 million in cash, and no debt.

About Crosshair

Crosshair is an aggressive uranium and gold exploration and development Company with select projects in Newfoundland and Labrador. The Company has developed into a dominant player in the exploration for uranium in the Central Mineral Belt of Labrador with its 711 sq km Moran Lake Uranium / IOCG Project. In addition, through option agreements with Paragon 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 and 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.

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the risks associated with outstanding litigation, if any; risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in uranium, gold and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

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