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| 1. | Term of Voting Trust.  This Voting Trust will be effective as of the Effective Date and will terminate on the Termination Date. As used herein, the term “Termination Date” shall mean the third anniversary of the Effective Date. |
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| 2. | Agreement to Vote the Subject Securities.  Until the Termination Date, at every meeting of the shareholders of UUL called with respect to any matter brought before the shareholders of UUL for their consideration and approval, and at every adjournment or postponement thereof, and on every action or approval by written consent of the |
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|   | shareholders of UUL with respect to any matter brought to the shareholders of UUL for their consideration and approval, Crosshair shall either (a) abstain from voting the Subject Securities; or (b) vote the Subject Securities, or sign a written consent in lieu of a meeting, in accordance with the recommendation of the board of directors of Crosshair. |
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|   | Prior to the Termination Date, Crosshair shall not enter into any agreement or understanding with any person to vote or otherwise give instructions in any manner inconsistent with this Section 2. |
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| 3. | Irrevocable Proxy.  Subject to the terms hereof relating to the Termination Date, at the request of UUL, Crosshair agrees to deliver to UUL an irrevocable proxy addressing the matters in Section 2 hereof, which shall be irrevocable to the fullest extent permitted by applicable law, covering the total number of Subject Securities. |
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| 4. | Concerning the Subject Securities.  In the event of the subdivision, consolidation, change, exercise, classification or reclassification at any time of the Subject Securities into a greater or lesser number of common shares or other voting securities of UUL, or in the event of the conversion of the Subject Securities or upon the amalgamation, merger, arrangement, or other corporate combination of UUL with any other corporation or corporations, or the division of UUL into two or more entities, any voting securities received by Crosshair in respect of the Subject Securities resulting from such subdivision, consolidation, change,  exercise, classification, reclassification, conversion, amalgamation, merger, arrangement or other corporate combination, or division will be subject to this agreement and the Voting Trust hereby constituted. |
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| 5. | Additional Documents.  Crosshair hereby covenants and agrees to execute and deliver any additional documents reasonably necessary or desirable to carry out the purpose and intent of this Voting Trust. |
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| 6. | Miscellaneous. |
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|                                     |                                          |                |
|------------------------------------------|-----------------------------------------------|---------------------|
|                                     |                                          |                |
| CROSSHAIR EXPLORATION & MINING CORP. |
|                                     |                                          |                |
|                                     |                                          |                |
| By:                                      |     ”Sheila Paine” |
|                                     | Name:                                         | Sheila Paine        |
|                                     | Title:                                        | Corporate Secretary |
|                                     |                                          |                |
| UNIVERSAL URANIUM LTD.                   |
|                                     |                                          |                |
|                                     |                                          |                |
| By:                                      |  ”Ron Atlas”                 |
|                                     | Name:                                         | Ron Atlas           |
|                                     | Title:                                        | President           |

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