Crosshair Announces Termination Of Purchase and Sale

Crosshair Announces Termination Of Purchase and Sale Agreement with
Strathmore Minerals Corp. 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/30/12 -- Crosshair
Energy Corporation (TSX:CXX)(NYSE MKT:CXZ) ("Crosshair" or the
"Company") announces that it has terminated the Purchase and Sale
Agreement (the "Agreement") dated October 29, 2010, between the
Company and Strathmore Resources (US) Ltd. and Strathmore Minerals
Corp. with respect to the sale, by Strathmore, of 100% of the Juniper
Ridge property. 
"In light of Crosshair's new opportunity in Argentina, we have
elected to terminate the 2010 purchase and sale agreement for the
Juniper Ridge property in southern Wyoming in order to allocate our
resources toward this immense prospect," said Mark Ludwig, Crosshair
President and Chief Executive Officer. "The Argentinian properties
represent an opportunity to create long-term shareholder value on
terms that can be much better managed in the current market
environment than those associated with Juniper Ridge." 
As announced on October 25, 2012, Crosshair has entered into a Letter
of Intent with Wealth Minerals Ltd. to acquire Wealth's prospective
uranium properties in Argentina; a land package encompassing more
than 2,600 square miles (685,000 hectares) located in Salta,
Catamarca, and Chubut provinces. The concession areas under
consideration include the San Jorge Basin properties, Amblayo and
Diamante Los Patos (see Crosshair news release dated October 25, 2012
for additional details). 
About Crosshair 
Crosshair is a prominent player in the exploration and development of
uranium and vanadium projects in the US and Canada. Its Bootheel
project has established resources and is located in uranium mining
friendly Wyoming, while it's CMB Uranium/Vanadium Project, located in
Labrador, Canada, has four currently defined resources - C Zone, Area
1, Armstrong and Two Time Zone. Bootheel has the potential to be
mined using in-situ recovery methods. The Crosshair team is composed
of knowledgeable and experienced professionals with global experience
in exploration, mining and corporate finance that are committed to
operating in an environmentally responsible manner. 
Cautionary Note Regarding Forward-Looking Information 
Information set forth in this news release may involve
forward-looking statements under applicable securities laws.
Forward-looking statements are statements that relate to future, not
past, events. In this context, forward-looking statements often
address 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. Forward-looking statements or information relate
to, among other things the completion of the transaction with Wealth
Minerals and the exploration potential of the Company's properties.
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 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; tax consequences to U.S. shareholders and other risks and
uncertainties, including those described in the Risk Factors section
in the Company's Annual Report on Form 20-F for the financial year
ended April 30, 2012 filed with the Canadian Securities
Administrators and available at 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, except as required by law. Investors are cautioned against
attributing undue certainty to forward-looking statements.
Crosshair Energy Corporation
Konstantine Tsakumis
Investor Relations
604-681-8030 x.232
604-681-8039 (FAX)
Press spacebar to pause and continue. Press esc to stop.