Crosshair to Oppose All Resolutions at AusAm EGM

Crosshair Exploration & Mining Corp. (TSX:CXX,AMEX:CXZ) reports that it has called on fellow shareholders of Australian American Mining Corporation Limited (“AusAm”) to oppose the resolutions proposed for a general meeting of AusAm shareholders on September 9, 2011.

The press release is quoted as saying:

Crosshair has written to all AusAm shareholders outlining its opposition to the resolutions, based on its concerns regarding the performance and direction of AusAm.

Crosshair’s Executive Chairman of Crosshair ,  Mark Morabito says:

“The AusAm share price has slumped over an extended period and destroyed significant shareholder wealth along the way. AusAm’s Board has failed to adequately capitalise on the exploration and development of its assets and it appears that the AusAm Board does not have a realistic plan to halt the value destruction.

“AusAm shareholders can send a message to the AusAm Board by voting against these resolutions. If other AusAm shareholders agree with us, Crosshair urges them to exercise their rights as a shareholder and vote against these resolutions too.”

Click here to access the entire news release.