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News Breaks
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December 6, 2011
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| 08:34 EDT |  | CXZ |
| theflyonthewall.com: | Crosshair Exploration & Mining to vest 90% interest in CMB project | | Crosshair Energy Corporation has reached an agreement to confirm vesting of its 90% interest in certain mineral licenses that are part of the CMB Uranium/Vanadium Project located in Labrador, Canada. Crosshair Management views this Agreement as being very positive for the future of the Company as it will now be able to explore and develop the CMB Project without any further uncertainties as to its legal status. The Agreement is part of a settlement of outstanding litigation with the original claim owner, Mr. Lewis Murphy. The terms of the settlement are a cash payment by the Company to Mr. Murphy in the amount of $600,000 and an additional payment of 1,193,614 in Crosshair shares. In return for the cash and share payments, all litigation has been discontinued and Mr. Murphy has acknowledged the Company's 90% interest in the Property has vested and any requirement for a bankable feasibility study has been irrevocably waived. Crosshair will be required to make advance royalty payments of $200,000 per year commencing in November 2012. :theflyonthewall.com |
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May 16, 2012
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| 08:32 EDT | | CXZ |
| theflyonthewall.com: | Crosshair Exploration & Mining: CMB uranium/vanadium project receives permits |
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