Crosshair announces revised terms for the previously announced C$15 million bought deal financing



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    VANCOUVER, March 6 /CNW/ - Crosshair Exploration & Mining Corp.
(CXX-TSXV) ("Crosshair" or the "Company") announces that it has agreed with
Canaccord Capital Corporation, the lead underwriter in connection with the
Company's previously announced bought deal financing, to increase the size of
the offering of Flow-Through Shares from 3,031,000 to 3,226,000 and reduce the
offering price of the Flow-Through Shares from C$1.65 to C$1.55 per
Flow-Through Share. The revised offering of 7,250,000 Units and 3,226,000
Flow-Through Shares priced at $1.38 per Unit and $1.55 per Flow-Through Share
will result in gross proceeds to Crosshair of C$15,005,300. Each Unit consists
of one common share and one transferable common share purchase warrant (a
"Warrant"). Each Warrant will entitle the holder thereof to purchase one
common share at a price of C$2.00 expiring 18 months from the closing of the
Offering.

    About Crosshair

    Crosshair is a dominant player in the exploration for uranium in the
Central Mineral Belt of Labrador-Canada's most promising emerging uranium
district. The 755 sq km Central Mineral Belt Uranium Project is host to
potentially three types of uranium mineralization - Iron Oxide Copper Gold
(IOCG - Olympic Dam), structurally controlled/shear zone and unconformity
types of mineralization.
    For more information on the Company and its properties, please visit the
website at www.crosshairexploration.com.

    ON BEHALF OF THE BOARD

    Mark Morabito, Chief Executive Officer

    Forward-looking Statements

    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.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of the content of this News Release.

    %SEDAR: 00005878E




For further information:

For further information: www.crosshairexploration.com

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