Crosshair Exploration & Mining Corp.

Crosshair Exploration & Mining Corp.

October 17, 2005 08:30 ET

J. Wayne Pickett and Dean Nawata join the Team at Crosshair

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2005) - Crosshair Exploration and Mining Corp. (TSX VENTURE:CXX) (the "Company") is pleased to announce that Mr. J. Wayne Pickett, M.Sc., P.Geo., is joining the Crosshair Exploration team as General Manager - Exploration for the Company's Newfoundland and Labrador Projects. Mr. Pickett will work closely with Mr. Timothy Froude, the Company's Sr. Vice-President - Exploration to advance the Company's Labrador Moran Lake Uranium / IOCG project as well as the Company's promising Newfoundland South Golden Promise Gold Project and Victoria Lake VMS project

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.

Management believes that Mr. Pickett's broad range of geological experience, and in particular his Uranium experience, will prove invaluable to the Company going forward.

The Company is also pleased to announce that Mr. Dean Nawata has joined the Company's Investor Relations team. Mr. Nawata has over 8 years of public company experience as a stockbroker with Nesbitt Burns, Research Capital and, most recently, Raymond James (formerly Goepel McDermid). During those years Mr. Nawata focused on the junior mining and oil and gas sectors involving various projects across Canada, the US, China and various former Soviet Republics.

Management believes that Mr. Nawata's experience and expertise in capital financing, equity trading and corporate development from a stock market prospective will prove vital to the Company's future growth.

Pursuant to the Company's Stock Option Plan Mr. Pickett and Mr. Nawata have each been granted 150,000 incentive stock options at exercise prices of $0.66 and $0.58 per optioned share respectively. The optioned shares are subject to a four month hold period commencing September 26 and September 19, 2005 respectively and expire on Sep. 26 and Sep. 19, 2010.

About Crosshair

Crosshair is an aggressive gold and uranium exploration and development company with significant holdings in North America and China. The Company is currently exploring the 612 sq km Moran Lake Uranium / IOCG Project in Labrador. In addition, through a joint venture 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. Crosshair has also set its sights on the emerging market in China with the development of the Beigou Gold Project.

For more information of the Company and its properties, please visit the website at


"Mark J. Morabito"


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