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| ARTICLE      1    PURPOSE ANDINTERPRETATION |
|------------------------------------------------------------|

| 1.1 | PURPOSE |
|-----|---------|

| 1.2 | DEFINITIONS |
|-----|-------------|

|   | (a) | “Act”      means the Business      Corporations Act (British Columbia) or its successor, as amended      from time to time; |
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|   | (b) | “Affiliate”      shall have the meaning ascribed thereto in the  Act; |
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|   | (c) | “Associate”      shall have the meaning ascribed thereto in the Securities Act (British      Columbia); |
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|   | (d) | “Board”      shall mean the board of directors of the Company or any committee of      directors appointed by the directors pursuant to Section 3.2      hereof; |
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|   | (e) | “Common      Shares” means the common shares of theCompany; |
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|   | (f) | “Company”      means Crosshair Exploration & Mining Corp. and any successor or      continuing corporation thereof; |
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|   | (g) | “Designated      Affiliate” means the Affiliates and Subsidiaries of the Company designated      by the Board for purposes of the Plan from time to  time; |
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|   | (h) | “Employment      Contract” means any contract between the Company or any Designated      Affiliate of the Company and any director, officer or employee of the      Company or a Designated Affiliate relating to, or entered into in      connection with, the election, appointment or employment of such person or      any other agreement to which the Company or its Designated Affiliate is a      party with respect to the rights of such Participant in respect of a      change in control of the Company or the termination of the election,      appointment, employment or engagement of such  Participant; |
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|   | (i) | “Exchange”      means the Toronto Stock Exchange; |
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|   | (j) | “Expiry      Date” means the date set by the Board under section 2.5(a) of the Plan, as      the last date on which an Option may be  exercised; |
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|   | (k) | “Insider”      shall have the meaning ascribed thereto in the Exchange Company      Manual; |
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|   | (l) | “Issuer”      shall have the meaning ascribed thereto in the Securities Act (British      Columbia); |
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|   | (m) | “Issuer      Bid” shall have the meaning ascribed thereto in the Securities Act (British      Columbia); |
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|   | (n) | “Option”      means option to purchase Common Shares granted  hereunder; |
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|   | (o) | “Option      Certificate” means a certificate, in the form attached hereto as Schedule      “A”, whereby the Company grants to an Optionee an  Option. |
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|   | (p) | “Option      Shares” means the aggregate number of Common Shares which an Optionee may      purchase under an Option. |
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|   | (q) | “Optionee”      shall mean a Participant to whom an Option has been granted pursuant to      the Plan; |
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|   | (r) | “Outstanding      Issue” means on any date, the number of Common Shares of the Company      issued and outstanding; |
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|   | (s) | “Participant”      means those Service Providers, Insiders and employees of the Company and      its Designated Affiliates who shall be granted Options pursuant to the      Plan as determined by the Board and as may be permitted under the Securities Act (British      Columbia) from time to time; |
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|   | (t) | “Person”      means a Company or individual; |
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|   | (u) | “Plan”      means this Stock Option Plan, as it may be amended from time to      time; |
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|   | (v) | “Securities      Act” means the Securities Act (British      Columbia) or its successor, as amended from time to  time; |
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|   | (w) | “Service      Provider” means any person or company engaged to provide management or      consulting services for the Corporation or any Designated Affiliate under      a written agreement for an initial, renewable or extended period of twelve      months or more; |
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|   | (x) | “Subsidiary”      shall have the meaning ascribed thereto in the Securities Act;      and |
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|   | (y) | “Take-over      Bid” shall have the meaning ascribed thereto in the Securities      Act. |
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|   | (z) | “Unissued      Option Shares” means the number of Common Shares, at a particular time,      which have been allotted for issuance upon the exercise of an Option but      which have not been issued, as adjusted from time to time in accordance      with the provisions of section 3.6, such adjustments to be      cumulative. |
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|   | (aa) | “Vested”      means that an Option has become exercisable in respect of a number of      Option Shares by the Optionee pursuant to the terms of the Option      Certificate. |
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| ARTIBLE      2    TERMS OFOPTIONS |
|--------------------------------------------------|

| 2.1 | THE      PLAN |
|-----|---------------|

| 2.2 | PARTICIPATION      IN PLAN |
|-----|----------------------------|

|   | (a) | an      individual can receive grants of no more than 5% of the issued and      outstanding share capital of the Company on a yearly  basis; |
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|   | (b) | unless      disinterested shareholder approval is obtained, the aggregate number of      Common Shares that may be reserved for issuance to the Insiders of the      Company (i) at the time of grant, or (ii) within a one-year period,      pursuant to this Plan or any other previously established and outstanding      option plans or grants, shall not exceed 10% of the issued and outstanding      share capital of the Company at the time of the grant;  and |
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|   | (c) | all      Option grants are exercisable for a maximum of ten years from the date of      the grant. |
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| 2.3 | MAXIMUM      NUMBER OF COMMON SHARES |
|-----|--------------------------------------|

| 2.4 | PRICE |
|-----|-------|

| 2.5 | TERMS      OF OPTIONS |
|-----|-----------------------|

|   | (a) | The      term of each Option granted pursuant to the Plan shall be determined by      the Board in its discretion at the time the Option is granted, provided      however that in no event shall any Option be exercisable following 10      years from the date of the grant of theOption; |
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|   | (b) | Except      as provided pursuant to Sections 2.8 and 2.9, no Option may be exercised      unless the Participant is, at the time of such exercise, a bona fide      Service Provider, Insider or employee of the Company or any of its      Designated Affiliates, as the case may be, and shall have been      continuously such a bona fide Service Provider, Insider or employee since      the grant of the Option, as the case may be. Absence on leave with the      approval of the Company or a Designated Affiliate shall not be considered      an interruption of employment for purposes of the  Plan. |
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|   | (c) | If      there is a Take-over Bid or Issuer Bid made for all or a portion of the      issued and outstanding Common Shares, the Board may, by resolution and      subject to the prior approval of the Exchange if the Company is listed on      the Exchange at such time, permit all Options outstanding to become      immediately exercisable (notwithstanding any condition or provision      prescribed by the Board at the time of the grant of the Option) in order      to permit Common Shares issuable under such Options to be tendered to such      Take-over Bid or Issuer Bid. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.6 | EXERCISE      OF OPTION |
|-----|-------------------------|

|   | (a) | Subject      to subparagraph (c), an Option may be exercised to purchase any number of      Common Shares up to the number of Vested Unissued Option Shares at any      time after the date of the grant of the Option and up to 5:00 p.m. local      time on the Expiry Date and shall not be exercisable      thereafter. |
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|   | (b) | The      Option shall be exercisable by delivering to the Company a notice      specifying the number of Common Shares in respect of which the Option is      exercised together with payment in full of the purchase price of the      Common Shares which are the subject of the exercised Option. No      Participant or his or her legal representatives or distributees will be,      or will be deemed to be, a holder of any Common Shares with respect to      which the Participant was granted an Option under the Plan, unless and      until certificates for such Common Shares are issued in accordance with      the terms of the Plan. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Board may, at the time an option is granted under the Plan or upon      renegotiation of the same, attach restrictions relating to the exercise of      the Option, including vesting provision. Any such restrictions shall be      recorded on the applicable Option Certificate attached as Schedule A to      this Plan. |
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| 2.7 | LAPSED      OPTIONS |
|-----|---------------------|

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| 2.8 | TERMINATION      OF EMPLOYMENT |
|-----|--------------------------------|

|   | (a) | cease      to be an Insider of the Company and any of its Designated Affiliates (and      is not or does not continue to be an employee  thereof); |
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|   | (b) | cease      to be employed by the Company or any of its Designated Affiliates (and is      not or does not continue to be a director thereof) for any reason (other      than by reason of the death of the Participant) or shall receive notice      from the Company or any of its Designated Affiliates of the termination of      the Participant’s employment; or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | cease      to be a Service Provider (and is not or does not continue to be an      employee or Insider of the Company or any of its Designated      Affiliates); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.9 | DEATH      OF PARTICIPANT |
|-----|---------------------------|

|   | (a) | by      the person or persons to whom the Participant’s rights under the Option      shall pass by the Participant’s or the Participant’s shareholder’s will or      the laws of descent and distribution;and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | to      the extent that the Participant was entitled to exercise the option at the      date of his or her death. |
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| 2.10 | TRANSFERABILITY      AND ASSIGNABILITY |
|------|----------------------------------------|

| 2.11 | NECESSARY      APPROVALS |
|------|--------------------------|

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| ARTICLE      3    GENERAL |
|------------------------------------------|

| 3.1 | ADMINISTRATION      OF THE PLAN |
|-----|---------------------------------|

| 3.2 | DELEGATION      TO COMMITTEE |
|-----|------------------------------|

| 3.3 | RECORD      KEEPING |
|-----|---------------------|

|   | (a) | the      name and address of eachParticipant; |
|--------|-----|-----------------------------------------------|

|   | (b) | the      number of Options granted to each Participant;  and |
|--------|-----|--------------------------------------------------------------|

|   | (c) | the      aggregate number of Common Shares subject to Options granted under the      Plan. |
|--------|-----|--------------------------------------------------------------------------------------------|

| 3.4 | EMPLOYMENT |
|-----|------------|

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| 3.5 | AMENDMENT      OF THE PLAN |
|-----|----------------------------|

|   | (a) | such      amendment, suspension or termination is in accordance with applicable laws      and the rules of any stock exchange on which the Common Shares are      listed; |
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|   | (b) | the      Board shall obtain shareholder approval of the  following: |
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|   | (i) | any      amendment to the maximum number of Common Shares specified in Section 2.3      in respect of which Options may be granted under the Plan (other than      pursuant to Section 3.6); |
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|   | (ii) | any      amendment that would reduce the exercise price of an outstanding Option of      an Insider (other than pursuant to Section 3.6);  and |
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|   | (iii) | any      amendment that would extend the term of any Option granted under the Plan      to an Insider beyond the ExpiryDate |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------|

| 3.6 | ADJUSTMENT      IN SHARES SUBJECT TO THE PLAN |
|-----|-----------------------------------------------|

| 3.7 | AMALGAMATION,      CONSOLIDATION OR MERGER |
|-----|--------------------------------------------|

| 3.8 | SECURITIES      EXCHANGE TAKE-OVER BID |
|-----|----------------------------------------|

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|   | (a) | the      offeror delivers with such notice an irrevocable and unconditional offer      to grant replacement options to the Optionees to purchase the equity      securities offered pursuant to such take-over  bid; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Board shall have determined, in good faith, that such replacement options      have substantially the same economic value as the Options being      surrendered; and |
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|   | (c) | the      surrender of Options and the granting of replacement options can be      effected on a tax free roll-over basis under the Income Tax Act      (Canada). |
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| 3.9 | NO      REPRESENTATION OR WARRANTY |
|-----|------------------------------------|

| 3.10 | INTERPRETATION |
|------|----------------|

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| 1. | on      [DATE OF GRANT] (the “Grant Date”); |
|----|---------------------------------------------------------|

| 2. | [NAME      OF OPTIONEE], of [ADDRESS OF OPTIONEE] (the  “Optionee”); |
|----|----------------------------------------------------------------------------------|

| 3. | was      granted the option (the “Option”) to purchase [NUMBER] Common Shares (the      “Option Shares”) of the Company; |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | for      the price (the “Option Price”) of $[EXERCISE PRICE]  per      share; |
|----|-----------------------------------------------------------------------------------------------------|

| 5. | terminating      on the [DATE] (the “Expiry Date”); |
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| 6. | Option      Shares may be exercised from time to time prior to the Expiry Date as      follows: |
|----|-------------------------------------------------------------------------------------------------|

|   | (a) | [INSERT      VESTING PROVISIONS] or      if no vesting provisions: [at any time after the Grant Date of the      Option, the Optionee may purchase up to 100% of the total number of Option      Shares;] |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | notwithstanding      the provisions of paragraph 6, the Option shall not be exercisable until      such time as the Plan has been approved by the Company’s      shareholders; |
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| THE      COMMON SEAL OF CROSSHAIR               | ) |   |   |
|-------------------------------------------------|---|--------|--------|
| EXPLORATION & MINING      CORP. was affixed | ) |   |   |
| in      the presence of:                   | ) |   |   |
|                                            | ) | C/S    |   |
| Authorized      Signatory                       | ) |   |   |
|                                            | ) |   |   |
| Authorized      Signatory                       | ) |   |   |
|                                            | ) |   |   |

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