President and CEO Mark J Morabito has recently issued some interesting news regarding Crosshair’s progress.

The Croteau Lake drill results are looking promising where they have defined three new priority target areas for drilling early in 2007 during the Company’s planned winter drill program. Numerous other uranium radiometric anomalies are currently being evaluated in order that they can be advanced to the drilling stage.

The Armstrong occurrence, located close to the Company’s Armstrong base camp, has returned an average grade of 0.303% U3O8 from 17 grab samples collected over a 200-meter strike length.

The Blue Star area covers a broad radiometric anomaly centred 5 kilometres northeast of the Moran Heights Zone. Assays from surface grab samples range from 0.068% U3O8 to 1.37% U3O8. Diamond drilling in 2007 will test several areas within the Blue Star anomaly.

The trading volume is pretty steady and the stock price closed yesterday at around C$1.92.

This kind of progress gives us great comfort in that this uranium explorer is getting on with it. Add this to the ever-increasing price of uranium and we are going places.

We will hold this uranium stock and try and accumulate more going forward as cash permits.

18 October 2006