Crosshair Announces Private Placement of $1.5 Million

Crosshair Exploration & Mining Corp. reports a private placement of $1.5 million.

The funds raised from the Flow-Through Private Placement will be used by Crosshair for exploration expenditures on its bulk sampling program at the Golden Promise Gold Project and Phase II of its Central Mineral Belt Vanadium Resource upgrade, which will constitute Canadian exploration expenditures (as defined in the Income Tax Act (Canada)) and will be renounced for the 2010 taxation year.

President and CEO of Crosshair, Stewart Wallis says:

“We are very pleased to be commencing a relationship with MineralFields Group.”  “This is an important milestone in the growth of Crosshair and we look forward to working with MineralFields Group as we develop our holdings in Newfoundland and Labrador.”

For complete press release, click here.