Document:

ex4-15.htm

    
      

      

    

    EXHIBIT
4.15

     

    EXECUTIVE
EMPLOYMENT AGREEMENT

     

    THIS
AGREEMENT is made effective as of the 31st day of
July, 2008.

     

    
      	
              BETWEEN:

            	 
      
	 
      	
              CROSSHAIR EXPLORATION &
      MINING CORP., a British Columbia company, having its principal
      business office at Suite 1240 - 1140 West Pender Street, Vancouver,
      British Columbia  V6E 4G1.

               

            
	 
      	
              (the
      “Company”)

            

    

    

     

    
      	
              AND:

            	 
      
	 
      	
              JOSEPH J. MILLER,
      businessman, of 3038 West 42nd
      Avenue, Vancouver, British Columbia  V6N 3H2

               

            
	 
      	
              (“Executive”)

            

    

    

     

    WHEREAS
the Company wishes to employ the Executive to provide the services hereinafter
described;

     

    NOW
THEREFORE, in consideration of the premises and the mutual agreements set forth
below the parties hereto agree as follows:

     

     

    
      	
              1.

            	
              SERVICES,
      POSITION AND TERM

            

    

     

    
      	
              (a)

            	
              The
      Company will employ the Executive, and the Executive will serve the
      Company, on the terms and conditions set out
  herein.

            

    

     

    
      	
              (b)

            	
              The
      Executive will hold the position of Chief Financial Officer, and perform
      those services normally or usually associated with the position of a
      senior executive officer, and such other duties consistent with the
      position of Chief Financial Officer as may from time to time reasonably be
      delegated to the Executive by the Company (the “Services”).  The
      Executive acknowledges that the effective performance of the Services may
      require that the Executive travel from time to time as required by the
      Company.

            

    

     

    
      	
              (c)

            	
              The
      Executive will be employed to perform the Services for a term commencing
      September 2, 2008 (the “Commencement Date”) and the Executive’s employment
      will continue until terminated in accordance with the provisions of this
      Agreement (the “Term”). 

            

    

     

    
      	
              2.

            	
              PERFORMANCE
      BY EXECUTIVE

            

    

     

    The
Executive will perform the Services in a competent and efficient manner, and
will carry out all lawful instructions and directions from time to time given by
the Company’s Board of

     

    
      
         

      

      
        - 1
-

        
          

        

      

      
         

      

    

    Directors.  The
Executive will devote 100% of his working time and attention to the affairs of
the Company.

     

     

    
      	
              3.

            	
              COMPENSATION
      AND BENEFITS

            

    

     

    
      	
              3.1

            	
              Salary

            

    

     

    The
Company will pay to the Executive an annual salary of C$150,000 (the “Salary”),
less appropriate deductions and withholdings.  The Company will review
the Salary from time to time during the Term and may, in its sole discretion,
increase the Salary.

     

    
      	
              3.2

            	
              Bonus

            

    

     

    The
Company will pay a bonus to the Executive of up to C$50,000 per year, to be paid
in cash semi-annually.  The amount of the bonus shall be determined by
the Company's Compensation Committee based upon the Executive's
performance.  The Company and the Executive will, within 90 days of
the Commencement Date, jointly develop a set of objective criteria for adoption
by the Company’s Compensation Committee for their use when considering the
Executive’s eligibility for bonus.

     

    
      	
              3.3

            	
              Incentive
      Plans

            

    

     

    
      	
              (a)

            	
              The
      Company shall grant the Executive:

            

    

     

    
      	
               
      

            	
              (i)

            	
              on
      execution of this Agreement, an option to purchase 150,000 common shares
      in the capital stock of the Company (the “Initial Grant”) at a price of
      C$0.50 per share.  The Initial Grant shall vest in accordance
      with the provisions of the Company’s stock option plan in effect as of the
      date of the Initial Grant.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              on
      the first anniversary of the date of the Initial Grant and each
      anniversary thereafter, an option to purchase 100,000 common shares in the
      capital stock of the Company (the “Annual Grant”).  Each Annual
      Grant shall vest in accordance with the provisions of the Company’s stock
      option plan in effect as of the date of the Annual
  Grant.

            

    

     

    
      	
              (b)

            	
              The
      pricing of the options in each Annual Grant shall be at the market price
      of the common shares at the date of the Annual Grant in accordance with
      the provisions of the Company’s stock option plan in effect as of that
      date.

            

    

     

    
      	
              (c)

            	
              The
      Annual Grant is subject to the provision that the aggregate number of
      incentive stock options held by the Executive at any given time shall not
      exceed 5% of the number of issued and outstanding shares of the Company at
      such time.

            

    

     

    
      	
              (d)

            	
              The
      Company shall permit the Executive to participate in any other incentive
      compensation plan, retirement plan or similar plan offered by the Company
      from time to time to its senior executives generally in the manner and to
      the extent authorized by the Board of Directors of the
      Company.

            

    

     

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

    All of
the above is hereinafter collectively referred to as the “Option
Commitment”.

     

    
      	
              3.4

            	
              Benefits

            

    

     

    The
Company shall provide the Executive with employee benefits comparable to those
provided by the Company from time to time to other senior executives of the
Company generally.  These benefits are to include at
least:

     

    
      	
              (a)

            	
              payment
      of professional dues to the Certified Management Accountants of British
      Columbia and payment of professional development/continued education
      required to maintain the Executive’s CMA
  designation;

            

    

     

    
      	
              (b)

            	
              participation
      in the Company’s group benefit plan, which includes extended health,
      dental, long-term disability, the waiting period for which will be
      waived;

            

    

     

    
      	
              (c)

            	
              C$1,000,000
      of term life insurance and accidental death insurance with proceeds
      payable to the Executive's estate or as otherwise directed by the
      Executive; and

            

    

     

    
      	
              (d)

            	
              payment
      by the Company of C$150 per month to the
      Executive towards the cost of membership dues at a downtown business or
      fitness club.

            

    

     

    
      	
              3.5

            	
              Vacation

            

    

     

    The
Executive will be entitled to annual vacation of four weeks during each year of
the Term, unless otherwise mutually agreed by the Company and the Executive (the
“Vacation”).  Unused Vacation time may be carried forward into the
immediate following calendar year and taken in that year as vacation time or as
cash payment at the option of the Executive.

     

    
      	
              3.6

            	
              Expenses

            

    

     

    The
Company will reimburse the Executive for all reasonable out-of-pocket expenses
incurred by the Executive directly related to the performance by the Executive
of the Services.  The Executive will account for such expenses in
accordance with the policies and directions of the Company’s board of
directors.

     

     

    
      	
              4.

            	
              TERMINATION

            

    

     

    
      	
              4.1

            	
              Definitions

            

    

     

    In this
Agreement:

     

    
      	
              (a)

            	
              “Control Change” means
      the occurrence of both:

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      acquisition or continuing ownership of securities (“Convertible
      Securities”) convertible into, exchangeable for or representing the right
      to acquire shares of the Company and/or shares of the Company as a result
      of which a person, group of persons or persons acting jointly or in
      concert, or persons associated or affiliated within the meaning of the
      Business Corporations
      Act (British Columbia)

            

    

     

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

    
       

      
        
          
            	 	 	
                    with
      any such person, group of persons or any of such persons acting jointly or
      in concert (collectively, “Acquirors”), beneficially own shares of the
      Company and/or Convertible Securities such that, assuming only the
      conversion, exchange or exercise of Convertible Securities beneficially
      owned by the Acquirors, the Acquirors would beneficially own shares that
      would entitle the holders thereof to cast more than 20% of the votes
      attaching to all shares in the capital of the Company that may be cast to
      elect directors of the Company;
and

                  

          

        

      

       

    

    
      	
               
      

            	
              (ii)

            	
              the
      exercise of the voting power of all or any such shares so as to cause or
      result in the election of two or more directors of the Company who were
      not Incumbent Directors;

            

    

     

    
      	
              (b)

            	
              “Disability” means the
      inability of the Executive to substantially perform the Services for a
      continuous or cumulative period of four months in any 12 month period
      where such inability is a result of physical or mental illness or
      injury;

            

    

     

    
      	
              (c)

            	
              “Good Reason” shall
      include, without limitation, the occurrence of any of the following
      without the Executive’s written
consent:

            

    

     

    
      	
               
      

            	
              (i)

            	
              a
      change (other than those that are clearly consistent with a promotion) in
      the Executive’s position or duties (including any position or duties as a
      director of the Company), responsibilities (including, without limitation,
      to whom the Executive reports and who reports to the Executive), title or
      office in effect immediately prior to a Control
  Change;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              a
      reduction by the Company or any of its subsidiaries of the Executive’s
      salary, benefits or any other form of remuneration or any change in the
      basis upon which the Executive’s salary, benefits or any other form of
      remuneration payable by the Company or its subsidiaries is determined or
      any failure by the Company to increase the Executive’s salary, benefits or
      any other forms of remuneration payable by the Company or its subsidiaries
      in a manner consistent (both as to frequency and percentage increase) with
      practices in effect immediately prior to a Control Change or with
      practices implemented subsequent to a Control Change with respect to the
      senior executives of the Company and its subsidiaries, whichever is more
      favourable to the Executive;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              any
      failure by the Company or its subsidiaries to continue in effect any
      benefit, bonus, profit sharing, incentive, remuneration or compensation
      plan, stock ownership or purchase plan, pension plan or retirement plan in
      which the Executive is participating or entitled to participate
      immediately prior to a Control Change, or the Company or its subsidiaries
      taking any action or failing to take any action that would adversely
      affect the Executive’s participation in or reduce his rights or benefits
      under or pursuant to any such plan, or the Company or its subsidiaries
      failing to increase or improve such rights or benefits on a basis
      consistent with practices in effect immediately prior to a Control Change
      or with practices implemented subsequent to a Control Change with respect
      to the senior

            

      
        
           

        

        
          - 4
-

          
            

          

        

        
           

        

      

    

    
       

      
        
          
            	
                     
      

                  	
                     

                  	
                    executives
      of the Company and its subsidiaries, whichever is more favourable to the
      Executive;

                  

          

           

        

      

      
        	
                 
      

              	
                (iv)

              	
                the
      Company or its subsidiaries relocating the Executive to any place other
      than the location at which he reported for work on a regular basis
      immediately prior to a Control Change or a place within 10 kilometres of
      that location, except for required travel on the Company’s or a
      subsidiary’s business to an extent substantially consistent with the
      Executive’s obligations immediately prior to a Control
    Change;

              

      

       

    

    
      	
               
      

            	
              (v)

            	
              any
      failure by the Company or its subsidiaries to provide the Executive with
      the number of paid vacation days to which he was entitled immediately
      prior to a Control Change or the Company or its subsidiaries failing to
      increase such paid vacation on a basis consistent with practices in effect
      immediately prior to a Control Change or with practices implemented
      subsequent to a Control Change with respect to the senior executives of
      the Company and its subsidiaries, whichever is more favourable to the
      Executive;

            

    

     

    
      	
               
      

            	
              (vi)

            	
              the
      Company or its subsidiaries taking any action to deprive the Executive of
      any material fringe benefit not hereinbefore mentioned and enjoyed by him
      immediately prior to a Control Change, or the Company or its subsidiaries
      failing to increase or improve such material fringe benefits on a basis
      consistent with practices in effect immediately prior to a Control Change
      or with practices implemented subsequent to a Control Change with respect
      to the senior executives of the Company and its subsidiaries, whichever is
      more favourable to the Executive;

            

    

    
       

      
        	
                 
      

              	
                (vii)

              	
                      
                  any
      breach by the Company of any provision of this
      Agreement;

                

              

      

       

      
        	
                 
      

              	
                (viii)

              	
                      
                  the
      good faith determination by the Executive that, as a result of a Control
      Change or any action or event thereafter, the Executive’s status or
      responsibility in the Company or its subsidiaries have been diminished or
      the Executive is being effectively prevented from carrying out his duties
      and responsibilities as they existed immediately prior to the Control
      Change; or

                

              

      

    

     

    
      	
               
      

            	
              (ix)

            	
              the
      failure by the Company to obtain, in a form satisfactory to the Executive,
      an effective assumption of its obligations hereunder by any successor to
      the Company;

            

    

     

    
      	
              (d)

            	
              “Just Cause” means
      conduct of the Executive that constitutes just cause to terminate the
      Executive’s employment without any notice or compensation in lieu of
      notice at common law.

            

    

     

    
      	
              4.2

            	
              Payments
      in the Event of Termination Without Just
Cause

            

    

     

    If the
employment of the Executive is terminated by the Company other than for Just
Cause (and not by reason of Disability or death), then the Company
will:

    
      
         

      

      
        - 5
-

        
          

        

      

      
         

      

    

    
       

      
        
          	
                  (a)

                	
                  at
      the option of the Executive, provide to the Executive 24 months notice of
      termination or a lump sum payment amount equal to two times the annual
      Salary (the “Notice Period”);

                

        

         

      

      
        	
                (b)

              	
                continue
      the Executive’s participation in the Incentive Plans and Benefits provided
      to the Executive immediately preceding the date of the termination
      (excluding any short or long term disability plan) until the earliest of
      the expiration of the Notice Period set out in Subsection 4.2(a) and the
      death of the Executive; and

              

      

       

    

     

    
      	
              (c)

            	
              maintain
      in effect the Executive’s right to purchase shares of the Company in
      accordance with Sections 3.3(a)(i) and 3.3(a)(ii) of this Agreement until
      the earliest of the expiration of the Notice Period set out in Subsection
      4.2(a) and the death of the
Executive.

            

    

     

    
      	
              4.3

            	
              Resignation
      by Executive

            

    

     

    
      	
              (a)

            	
              The
      Executive may resign from his employment under this Agreement by providing
      to the Company a minimum of one month’s and a maximum of three month’s
      prior written notice of such resignation and, in such case, the Executive
      will be entitled to exercise all options under the Option Commitment, or
      any other Plans and Programs, that will have vested as of the last full
      business day before the expiry of the period of notice of resignation
      given by the Executive.

            

    

     

    
      	
              (b)

            	
              Upon
      receipt of written notice of resignation under Subsection 4.4(a) of this
      Agreement, the Company may, at its option, earlier terminate the
      employment of the Executive in which
case:

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      Executive will be entitled to exercise all options under the Option
      Commitment, or any other Plans and Programs, that will have vested as of
      the last full business day before the expiry of the period of notice of
      resignation given by the Executive;
and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      Company will pay the Executive an amount equal to the Salary payable from
      the date of termination by the Company until the earlier of the date of
      resignation selected by the Executive and three months from the date the
      Executive gave notice of
resignation.

            

    

     

    
      	
              (c)

            	
              Notwithstanding
      Subsections 4.3(a) and 4.3(b) of this Agreement, the Executive will be
      entitled to the payments and benefits set out in Section 4.2 of this
      Agreement if the Company does anything that constitutes a Good Reason and
      does anything that would constitute a constructive dismissal of the
      Executive by the Company as determined in accordance with common
      law.

            

    

     

    
      	
              4.4

            	
              Death
      and Disability

            

    

     

    
      	
              (a)

            	
              Death.  If
      the Executive dies during the Term,
then:

            

    

     

    
      	
               
      

            	
              (i)

            	
              employment
      of the Executive will terminate as of the date of death;
    and

            

    

    
      
         

      

      
        - 6
-

        
          

        

      

      
         

      

    

    
       

      
        
          	
                   
      

                	
                  (ii)

                	
                  the
      Company will pay to the estate of the
Executive:

                

        

         

        
          	
                   
      

                	
                  a.

                	
                  unpaid
      Salary, if any, up to the date of
death;

                

        

         

      

      
        	
                 
      

              	
                b.

              	
                any
      compensation or benefits payable or owing to the Executive on or after
      death in accordance with the terms of any Incentive plans or Benefits
      plans in which the Executive is participating immediately prior to his
      death; and

              

      

       

    

    
      	
               
      

            	
              c.

            	
              any
      options that were not purchased by the Executive pursuant to the Sections
      3.3(a)(i) and 3.3(a)(ii) as of the date of death shall vest in accordance
      with Sections 3.3(a)(i) and 3.3(a)(ii) of this Agreement, and may
      thereafter be exercised by the estate of the
  Executive.

            

    

     

    
      	
              (b)

            	
              Disability.  If
      the Executive suffers from a Disability during the Term, then the
      Executive will be entitled to compensation as set out in Subsection 4.2(a)
      of this Agreement;

            

    

     

    
      	
               
      

            	
              (i)

            	
              continue
      to participate in any Incentive plans and to receive Benefits (other than
      Benefits relating to Disability) to which the Executive would have
      otherwise been entitled during the Notice Period;
  and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              any
      Benefits relating to Disability that the Executive is entitled to as
      determined by the terms and conditions of any applicable Benefit plans,
      provided that if the Executive receives any Benefits under this Subsection
      4.4(b) during any portion of the Notice Period, then the Company will not
      be obligated to pay to the Executive the amounts covered by such Benefits
      that would otherwise be payable to the Executive under Subsection
      4.4(b)(i).

            

    

     

    
      	
              4.5

            	
              Other
      Conditions

            

    

     

    The
obligations of the Company to the Executive on termination of employment of the
Executive by the Company or by the Executive for any reason are subject to the
following conditions:

     

    
      	
              (a)

            	
              the
      Company may at any time or from time to time amend or terminate any
      Benefits or Plans and Programs that are continued or available after the
      date of termination of the Executive provided that the subject Benefits or
      Plans and Programs are similarly terminated or amended for all executives
      of the Company;

            

    

     

    
      	
              (b)

            	
              the
      Executive will not be obligated to make reasonable efforts to find
      alternative employment for any period during which the Company is
      obligated to continue participation in Benefits and Plans and Programs
      under section 4, and the participation in Benefits and Plans and Programs
      pursuant to Section 4 will not be reduced or discontinued as a result of
      any employment of the Executive that commences after the employment of the
      Executive with the Company ceases;

            

    

     

    
      	
              (c)

            	
              the
      Executive shall not be prohibited in any manner whatsoever from obtaining
      employment with or otherwise forming or participating in a business
      competitive to the 

            

    

    
      
         

      

      
        - 7
-

        
          

        

      

      
         

      

    

     

    
       

      
        	
                 

              	
                business
      of the Company after termination of his employment by the Company without
      Just Cause or termination by the Executive of his employment for Good
      Reason.

              

      

       

      
        	
                (d)

              	
                The
      Company shall pay, to the full extent provided by law, without requiring
      the Executive first to pay such fees and expenses, all legal fees and
      expenses that the Executive,
      the Executive’s legal representatives or the Executive’s family may
      reasonably incur or face arising out of or in connection with this
      Agreement (but this Agreement only), including any litigation concerning
      the validity or enforceability of, or liability under, any provision of
      this Agreement or any action by the Executive, the Executive’s legal
      representatives or the Executive’s family to enforce his or their rights
      under the Agreement (but this Agreement only), regardless of the outcome
      of such litigation, and the Company agrees to pay interest, compounded
      quarterly, on the total unpaid amount payable under this Agreement, such
      interest to be calculated at a rate equal to 2% in excess of the prime
      commercial annual lending rate for Canadian dollar demand loans announced
      from time to time by the Royal Bank of Canada during the period of such
      non-payment.

              

      

       

    

    
      	
              4.6

            	
              Accelerated
      Vesting of Incentive Stock Options

            

    

     

    Notwithstanding
the vesting provisions set out in Sections 3.3(a)(i) and 3.3(a)(ii) and in any
option agreement entered into by the Company and the Executive with respect to
the Executive’s options under Section 3.3(a)(i) and 3.3(a)(ii), in the event of
the termination of the employment of the Executive for any reason other
than:

     

    
      	
              (a)

            	
              termination
      for Just Cause; or

            

    

     

    
      	
              (b)

            	
              the
      Executive being convicted of an indictable criminal offence in the nature
      of fraud,

            

    

     

    (any
termination of the Executive’s employment by the Company, other than for the
reasons listed above, or any termination for reasons set out in Subsection
4.3(c), or by reason of the Executive’s Disability or death, being a
“Non-Critical Termination”)

     

    the
Executive’s options under Section 3.3(a)(i) and 3.3(a)(ii) will be deemed to be
fully vested and immediately exercisable on the first to occur of:

     

    
      	
              (c)

            	
              in
      the event of a Control Change that results from a takeover bid, on the
      date that the bidder takes up and pays for the Company shares under the
      subject bid or such earlier date as the Company’s Board of Directors may
      permit by resolution in accordance with the Company’s stock option plan in
      effect as of the date of the grant of such
  options;

            

    

     

    
      	
              (d)

            	
              in
      the event of a Control Change that results from some other transaction, on
      the date that the Company or its shareholders become subject to the
      principal transaction document governing the terms of the subject
      transaction; and

            

    

     

    
      	
              (e)

            	
              in
      the event of a Non-Critical Termination, on the date of termination, the
      date of Disability or the date of death, as the case may
    be.

            

    

     

    
      
         

      

      
        - 8
-

        
          

        

      

      
         

      

    

     

    
      For the
purposes of sections 4.6(c) and 4.6(d) the Company agrees that it shall, in
accordance with the terms of the stock option plan and in the event of a Control
Change resulting from a negotiated takeover bid or similar transaction, and
subject to the cooperation of the offeror, take all reasonable efforts to
provide for a cashless exercise of such options and the conditional tender to
any such takeover bid or similar transaction of the underlying shares issuable
upon the exercise of such options, and to cause the options to fully vest and
become immediately exercisable at the time of such exercise or conditional
tender.

    

     

    5.           GENERAL
PROVISIONS

     

    
      	
              5.1

            	
              Enforceability
      and Severability

            

    

     

    It is the
desire and intent of the parties hereto that the provisions of this Agreement be
enforced to the fullest extent permissible under the laws and public policies
applied in each jurisdiction in which enforcement is sought.  In the
event that any provision of this Agreement conflicts with the law under which
this Agreement is to be construed or if any such provision is held invalid by a
court with jurisdiction over the parties hereto, such provision will be deemed
to be restated to reflect as nearly as possible the original intentions of the
parties in accordance with applicable law.  The remainder of this
Agreement will remain in full force and effect.  In the event any such
deemed restatement of any such provision prevents the accomplishment of a
fundamental purpose of this Agreement, the Company and the Executive will
immediately commence negotiations in good faith to provide the party which has
been adversely affected by such restatement with value (in cash or in kind)
equivalent to the value that such party would have received had such provision
not been restated.

     

    
      	
              5.2

            	
              Assignment
      and Benefit

            

    

     

    The
Executive will not assign or transfer this Agreement or any rights or
obligations hereunder.  The Company may assign this Agreement to any
successor to the Company and the provisions hereof will inure to the benefit of,
and be binding upon, each successor of the Company, whether the successor arises
by merger, consolidation or transfer of all or substantially all of its
assets.  This Agreement shall enure to the benefit of and be
enforceable by the Executive’s successors and legal
representatives.

     

    
      	
              5.3

            	
              Entire
      Agreement

            

    

     

    This
Agreement contains the entire agreement between the parties hereto with respect
to the subject matter hereof and supersedes all prior agreements or
understandings, whether oral or written and whether express or implied, between
the parties hereto.  The Executive acknowledges and agrees that any
prior agreements or representations, whether oral or written and whether express
or implied, between the Executive and the Company, are hereby terminated and the
Executive has no rights or entitlements under any such prior agreements or
representations against the Company.

    
      
         

      

      
        - 9
-

        
          

        

      

      
         

      

    

     

    
      
        	
                5.4

              	
                Notices

              

      

       

      All
notices, requests and other communications to any party hereunder will be in
writing and sufficient if delivered personally or sent by telecopy (with
confirmation of receipt) or by registered or certified mail, postage prepaid,
return receipt requested, addressed as follows:

       

      If to the
Company, at

       

      Suite
1240 - 1140 West Pender Street

      Vancouver,
BC  V6E 4G1

       

    

    
      If to the
Executive, at

       

    

    3038 West
42nd
Avenue

    Vancouver,
BC  V6N 3H2

    
       

    

    or to
such other address as the party to whom notice is to be given may have furnished
to the other party in writing in accordance herewith.  Each such
notice, request or communication will be deemed to have been given when received
or, if given by mail, when delivered at the address specified in this Section or
on the fifth business day following the date on which such communication is
posted, whichever occurs first.

     

    
      	
              5.5

            	
              Amendments
      and Waivers

            

    

     

    No
modification, amendment or waiver of any provision of, or consent required by,
this Agreement, nor any consent to any departure herefrom, will be effective
unless it is in writing and signed by the parties hereto.  Such
modification, amendment, waiver or consent will be effective only in the
specific instance and for the purpose for which given.

     

    
      	
              5.6

            	
              Headings

            

    

     

    Descriptive
headings are for convenience only and will not control or affect the meaning or
construction of any provision of this Agreement.

     

    
      	
              5.7

            	
              Counterparts

            

    

     

    This
Agreement may be executed in counterparts, and each such counterpart hereof will
be deemed to be an original instrument, but all such counterparts together will
constitute but one agreement.

     

    
      	
              5.8

            	
              Canadian
      Dollars

            

    

     

    All
dollar amounts referred to herein will be in lawful currency of
Canada.

     

    
      	
              5.9

            	
              Governing
      Law

            

    

     

    This
Agreement and its application and interpretation will be governed exclusively by
the laws of British Columbia and the laws of Canada applicable in British
Columbia.

    
      
         

      

      
        - 10
-

        
          

        

      

      
         

      

    

     

    
      
        	
                5.10

              	
                Attornment

              

      

       

      Each
party will submit to the jurisdiction of the Supreme Court of British Columbia
and all Courts having appellate jurisdiction thereover in any suit, action or
other proceeding arising out of or relating to this Agreement commenced in such
Court by one party against the other party (a “Permitted Action”), and each
party waives and will not assert by way of motion as defence or otherwise in any
Permitted Action, any claim that:

       

      
        	
                (a)

              	
                such
      party is not subject to the jurisdiction of such
  Court;

              

      

       

      
        	
                (b)

              	
                such
      permitted action is brought in an inconvenient
  forum;

              

      

      
         

        
          	
                  (c)

                	
                  the
      venue of such permitted action is improper;
or

                

        

      

    

     

    
      	
              (d)

            	
              any
      subject matter of such permitted action may not be enforced in or by such
      Court.

            

    

     

    In any
suit or action brought to obtain a judgment for the recognition or enforcement
of any final judgement rendered in a Permitted Action no party to this Agreement
will seek, other than by way of appeal, in any Court of any jurisdiction any
review pertaining to the merits of any Permitted Action, whether or not such
party appears in or defends the Permitted Action.

     

    
      	
              5.11

            	
              Independent
      Legal Advice

            

    

     

    The
Executive hereby acknowledges that he has had the opportunity to obtain
independent legal advice regarding this Agreement and has either obtained such
advice or has waived his right to obtain such advice.

     

    
      	
              5.12

            	
              Survival

            

    

     

    Section 4
of this Agreement will survive the termination of employment of the Executive
and will continue in full force and effect.

     

    
      	
              5.13

            	
              Collection
      and Use of Personal Information

            

    

     

    The
Executive acknowledges that the Company will collect, use and disclose health
and other personal information for employment and business related
purposes.  The Executive consents to the Company collecting, using and
disclosing health and other personal information of the Executive for employment
and business related purposes in accordance with the privacy policy of the
Company.

     

    
      	
              5.14

            	
              Time

            

    

     

    Time is
of the essence.

     

    IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the
day and year first written above.

     

    CROSSHAIR
EXPLORATION & MINING CORP.

     

     

     

    
      
         

      

      
        - 11
-

        
          

        

      

      
         

      

    

     

     

    
      
        
          
            
              	
                      Per:

                    	 
      
	 
      	
                      “Julie
      Bolden”

                    
	 
      	
                      Authorized
      Signatory

                    

            

          

        

      

    

     

     

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Signed,
      Sealed and Delivered by JOSEPH J.

                              	
                                )

                              	 
      	 
	
                                MILLER
      in the presence of:

                                 

                              	
                                )

                                )

                              	 
      	 
	
                                “Sonia Kustec”

                              	
                                )

                              	
                                “Joseph
      Miller

                              	 
	
                                Signature)

                                 

                              	
                                )

                                )

                              	
                                JOSEPH
      J. MILLER

                              	 
	
                                Sonia Kustic.

                              	
                                )

                              	 
      	 
	
                                Name

                                 

                              	
                                )

                                )

                              	 
      	 
	
                                Unit 103 – 6554 – 176th Street

                              	
                                )

                              	 
      	 
	
                                Address

                                 

                              	
                                )

                                )

                              	 
      	 
	
                                Surrey, BC, V35 4G5

                              	
                                )

                              	 
      	 
	
                                 

                                Administrator

                              	
                                )

                                )

                              	 
      	 
	
                                Occupation

                              	
                                )

                              	 
      	 

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        - 12
-ex4-16.htm

    
      

      

      EXHIBIT 4.16

     

    PURCHASE
AND SALE AGREEMENT

     

     

    THIS
AGREEMENT MADE EFFECTIVE AS OF July 29, 2008 (the “Effective Date”).

     

    
      
        
          	 
      	 
      
	
                  AMONG:

                	 
      
	 
      	
                  CROSSHAIR EXPLORATION & MINING
      CORP., a corporation existing under the laws of British
      Columbia, having its head office at Suite 12401140 West Pender Street,
      Vancouver, British Columbia, V6E 4G1;

                
	 
      	
                   

                  (“Crosshair”)

                
	 
      	
                   
      

                   

                
	
                  AND:

                	 
      
	 
      	
                   UNIVERSAL URANIUM LTD. a
      corporation existing under the laws of British Columbia, having its head
      office at Suite 600 595 Howe Street, Vancouver, British Columbia, V6C
      2T5;

                
	 
      	
                   

                  (“UUL”)

                

        

      

    

     

    WHEREAS:

     

    
      	
              A.

            	
              UUL
      owns a 60% interest in 4,741 claims in the Labrador Central Mineral Belt,
      as is more particularly described in Schedule A (the “Claims”) and certain
      assets and inventory, as are more particularly described in Schedule B
      (the “Assets”).

            

    

     

    
      	
              B.

            	
              UUL
      acquired the interest in the Claims and the Assets pursuant to a property
      acquisition agreement dated January 26, 2006 between UUL and Silver Spruce
      Resources Inc. (“Silver
      Spruce”) (the “PAA”);

            

    

     

    
      	
              C.

            	
              On
      May 23, 2008, UUL and the Crosshair (collectively the “Parties”) entered into a
      letter agreement (the “Letter Agreement”)
      pursuant to which the UUL agreed to sell, and Crosshair agreed to
      purchase, UUL’s 60% interest in the Claims and the Assets, other than a 2%
      net smelter royalty to be reserved by UUL (the “Interest”) and all of
      UUL’s rights and obligations under the PAA (the “Acquisition”);
      and

            

    

     

    The
Parties wish to enter into a definitive agreement which is to supersede and
replace the Letter Agreement and set out the terms of the
Acquisition;

     

    The
Parties therefore agree each with the other as follows:

     

    
      
        	
                1.

              	
                DEFINITIONS AND
      SCHEDULES

              

      

    

     

    
      
        	
                1.1

              	
                Definitions:

              

      

    

     

    In this
Agreement the following words and phrases shall have the following
meanings:

    
      
         

      

      
        50612059.9

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (a)

            	
              “Acquisition” has the
      meaning ascribed thereto in Recital
C;

            

    

     

    
      	
               
      

            	
              (b)

            	
              “Agreement” means this
      agreement, including the Schedules
hereto;

            

    

     

    
      	
               
      

            	
              (c)

            	
              “Ancillary Documents” has
      the meaning ascribed thereto in section
2.1(a);

            

    

     

    
      	
               
      

            	
              (d)

            	
              “Assets” means the assets
      and inventory described in Schedule
B;

            

    

     

    
      	
               
      

            	
              (e)

            	
              “Assignment and Assumption
      Agreement” means the agreement attached hereto as Schedule F
      providing for the transfer of all of UUL’s rights and obligations under
      the PAA to Crosshair;

            

    

     

    
      	
               
      

            	
              (f)

            	
              “Bridge Loan” means the
      $500,000 bridge loan advanced by the Purchaser to the Vendor pursuant to a
      credit agreement between the Parties dated June,
  2008;

            

    

     

    
      	
               
      

            	
              (g)

            	
              “Claims” means the mining
      claims described in Schedule A;

            

    

     

    
      	
               
      

            	
              (h)

            	
              “Closing” means the
      completion of the purchase and sale of the Interest in the Claims and the
      Assets and UUL’s rights and obligations under the PAA in accordance with
      the provisions of this Agreement;

            

    

     

    
      	
               
      

            	
              (i)

            	
              “Closing Date” means July
      28, 2008 or such other date as may be agreed to between the
      Parties;

            

    

     

    
      	
               
      

            	
              (j)

            	
              “Confidential
      Information” has the meaning ascribed thereto in section
      11.2;

            

    

     

    
      	
               
      

            	
              (k)

            	
              “Crosshair Financial
      Statements” has the meaning ascribed thereto in section
      2.2(m);

            

    

     

    
      	
               
      

            	
              (l)

            	
              “Crosshair Shares” has
      the meaning ascribed thereto in section
3.2(b);

            

    

     

    
      	
               
      

            	
              (m)

            	
              “Crosshair Warrants” has
      the meaning ascribed thereto in section
3.2(b);

            

    

     

    
      	
               
      

            	
              (n)

            	
              “Defaulting Party” has
      the meaning ascribed thereto in section
16.1;

            

    

     

    
      	
               
      

            	
              (o)

            	
              “Disclosure Documents”
      means documents filed under securities laws including, but not limited to,
      financial statements, prospectuses, memorandums, information; circulars,
      material change reports, and shareholder
  communications;

            

    

     

    
      	
               
      

            	
              (p)

            	
              “Encumbrances” means all
      interests, mortgages, charges, royalties, security interests, liens,
      encumbrances, actions, claims, demands and equities of any nature
      whatsoever or however arising and any rights or privileges capable of
      becoming any of the foregoing
hereto;

            

    

     

    
      	
               
      

            	
              (q)

            	
              “Environmental Laws”
      means all applicable laws, statutes, ordinances, by-laws, regulations,
      orders, directives and decisions of any federal, provincial, state,
      municipal or local government, ministry, department, court or
      administrative or regulatory agency relating to the protection,
      reclamation or

            

    

     

    
 

    
      
         
50612059.9

      

      
        2

        
          

        

      

      
         

      

    

     

    remediation
of the environment, or to the import, manufacture, storage, release, sale, use,
handling, transport or existence of Hazardous Materials;

     

    
      	
               
      

            	
              (r)

            	
              “Escrow Agent” means
      Computershare Investor Services
Inc.;

            

    

     

    
      	
               
      

            	
              (s)

            	
              “Escrow Agreement” means
      the form of escrow agreement entered into between UUL and the Escrow Agent
      and attached hereto as Schedule C;

            

    

     

    
      	
               
      

            	
              (t)

            	
              “Hazardous Materials”
      means any underground storage tanks, explosive, radioactive or corrosive
      materials, pollutants, contaminants, chemicals, waste, deleterious
      substances or industrial, toxic, dangerous or hazardous substances or
      wastes, including petroleum products and acid rock
    drainage;

            

    

     

    
      	
               
      

            	
              (u)

            	
              “Interest” means UUL’s
      60% interest in the Claims and the Assets, excluding UUL’s interest in the
      Royalty;

            

    

     

    
      	
               
      

            	
              (v)

            	
              “Interim Period” means
      the period of time from the date of this Agreement until the
      Closing;

            

    

     

    
      	
               
      

            	
              (w)

            	
              “Intervening Event” has
      the meaning ascribed thereto in section
15.1;

            

    

     

    
      	
               
      

            	
              (x)

            	
              “Land Claims” means the
      aboriginal land claims made by the Labrador Inuit Association and Innu
      Nation referred to in the Notice and any other aboriginal land claims
      which may affect any of the Claims;

            

    

     

    
      	
               
      

            	
              (y)

            	
              “Laws” means all domestic
      or foreign federal, national, provincial, state, regional, municipal,
      local or other constitutions, treaties, laws, statutes, codes, ordinances,
      decrees, rules, regulations, by-laws, policies, voluntary restraints,
      guidelines, requirements, and any judgements, including general principles
      of civil or common law, binding or affecting the person referred to in the
      context of in which such word is
used;

            

    

     

    
      	
               
      

            	
              (z)

            	
              “Legal Proceeding” means
      any litigation, action, application, suit, investigation, hearing, claim,
      deemed complaint, grievance, civil, administrative, regulatory or
      criminal, arbitration proceeding or other similar proceeding, before or by
      any court or other tribunal and includes any appeal or review thereof and
      any application for leave for appeal or
review;

            

    

     

    
      	
               
      

            	
              (aa)

            	
              “Material Adverse Change”
      means a change that has a material adverse affect on the title of any of
      the Claims, the rights and obligations under the PAA, or UUL, as
      determined solely by Crosshair;

            

    

     

    
      	
               
      

            	
              (bb)

            	
              “Notice” means the
      “Notice to All Applicants and Holders of Government Leases, Licenses and
      Permits” dated October 10, 2006 published by the Government of
      Newfoundland and Labrador relating to land claim negotiations between the
      Government of Newfoundland and Labrador and the Labrador Inuit Association
      and the Innu Nation;

            

    

     

    
 

    
      
         
50612059.9

      

      
        3

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (cc)

            	
              “Novation Agreement”
      means the form of novation agreement to be entered into between UUL and
      Crosshair and attached hereto as Schedule
“H”;

            

    

     

    
      	
               
      

            	
              (dd)

            	
              “Order” means any order,
      directive, judgment, decree, injunction, decision, ruling, award or writ
      of any governmental authority;

            

    

     

    
      	
               
      

            	
              (ee)

            	
              “Parties” means Crosshair
      and UUL and a “Party” means either one
      of them;

            

    

     

    
      	
               
      

            	
              (ff)

            	
              “Purchase Price” has the
      meaning ascribed thereto in section
3.2;

            

    

     

    
      	
               
      

            	
              (gg)

            	
              “Royalty” has the meaning
      ascribed thereto in section 5.1;

            

    

     

    
      	
               
      

            	
              (hh)

            	
              “Security” means all of
      the security granted by the Vendor to the Purchaser as security for the
      Bridge Loan;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              “Settlement and Release
      Agreement” means the form of settlement and release agreement to be
      entered into among Crosshair, UUL and Silver Spruce and attached hereto as
      Schedule “G”;

            

    

     

    
      	
               
      

            	
              (jj)

            	
              “UUL Financial
      Statements” has the meaning ascribed thereto in section 2.1(u);
      and

            

    

     

    
      	
               
      

            	
              (kk)

            	
              “Voting Trust Agreement”
      means the voting trust agreement entered into between Crosshair and UUL
      and attached hereto as Schedule
“D”.

            

    

     

    
      
        	
                1.2

              	
                Schedules:

              

      

    

     

    The
following schedules are attached to and form part of this
Agreement:

     

    ScheduleTitle

    

    “A”Description of the
Claims

    “B”Description of the Assets and
Inventory

    “C”Escrow Agreement

    “D”Voting Trust Agreement

    “E”Definition, Calculation and Payment
of Net Smelter Returns(NSR) Royalty

    “F”Assignment and Assumption
Agreement

    “G”Settlement and Release
Agreement

    “H”Novation Agreement

     

    
      
        	
                2.

              	
                REPRESENTATIONS AND
      WARRANTIES

              

      

    

     

    
      
        	
                2.1

              	
                UUL
      represents and warrants to Crosshair that, as of the date of this
      Agreement,

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              Recitals
      A, B and C form part of this Agreement and, to the best of its knowledge,
      are true and correct in all
respects;

            

    

     

    
 

    
      
         
50612059.9

      

      
        4

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              it
      is a valid and subsisting corporation duly incorporated under the laws of
      its jurisdiction of incorporation and has full corporate power and
      authority to execute and deliver this Agreement and all other documents,
      agreements, certificates and instruments contemplated herein (the “Ancillary Documents”) to
      which UUL is a party and to observe and perform its covenants and
      obligations hereunder and thereunder and subject as provided in section
      2.4 has taken all necessary corporate proceedings and obtained all
      necessary corporate approvals in respect thereof and, upon execution and
      delivery of this Agreement by it, this Agreement will constitute a legal,
      valid and binding obligation of UUL enforceable against it in accordance
      with its terms except that:

            

    

     

    
      	
               
      

            	
              (i)

            	
              enforceability
      may be limited by bankruptcy, insolvency or other laws affecting
      creditors’ rights generally;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              equitable
      remedies, including the remedies of specific performance and injunctive
      relief, are available only in the discretion of the applicable
      court;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              a
      court is not required to treat as conclusive, final or binding those
      certificates and determinations which this Agreement states are to be so
      treated;

            

    

     

    
      	
               
      

            	
              (iv)

            	
              a
      court may stay proceedings before them by virtue of equitable or statutory
      powers; and

            

    

     

    
      	
               
      

            	
              (v)

            	
              rights
      of indemnity and contribution hereunder may be limited under applicable
      law;

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      PAA is not subject to a right of first refusal or any other restriction on
      assignment and UUL’s ability to convey the Interest in the Claims and the
      Assets is not restricted by the terms of the PAA
  ;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      PAA is a duly executed agreement and is a valid and binding obligation of
      UUL and Silver Spruce, subject to the same limitations expressed in
      section 2.1(b)(i) to (v) inclusive with respect to this
      Agreement;

            

    

     

    
      	
               
      

            	
              (e)

            	
              neither
      the execution of this Agreement nor the consummation of the transactions
      contemplated hereby conflict with, result in a breach of or accelerate the
      performance required by the PAA, or any other agreement to which it is a
      party;

            

    

     

    
      	
               
      

            	
              (f)

            	
              neither
      the execution of this Agreement nor the consummation of the transactions
      contemplated hereby, result in a breach of the laws of any applicable
      jurisdiction, its constating documents or resolutions of its directors or
      shareholders;

            

    

     

    
      	
               
      

            	
              (g)

            	
              Schedule
      A attached hereto accurately sets out all of the
  Claims;

            

    

     

    
 

    
      
         
50612059.9

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (h)

            	
              all
      of the mineral claims constituting the Claims have been duly and properly
      staked and recorded and have been and are validly held in accordance with
      the laws of Newfoundland and
Labrador;

            

    

     

    
      	
               
      

            	
              (i)

            	
              Crosshair
      has been provided with a true and complete copy of the PAA and there are
      no existing material defaults by UUL, or to its knowledge, Silver Spruce,
      which will not be settled under the Settlement and Release
      Agreement;

            

    

     

    
      	
               
      

            	
              (j)

            	
              except
      as set out in the PAA, it is the legal and beneficial owner of a 60%
      undivided interest in the Claims free and clear of all Encumbrances other
      than the Land Claims;

            

    

     

    
      	
               
      

            	
              (k)

            	
              subject
      to the terms of the PAA and applicable laws, it has the exclusive right to
      explore, develop and mine the
Claims;

            

    

     

    
      	
               
      

            	
              (l)

            	
              there
      has been no act or omission by it, or to its knowledge by anyone else,
      that could result by notice or lapse of time, or both, in the breach,
      termination, abandonment, forfeiture, relinquishment or other premature
      termination of the Claims or any of its rights with respect thereto which
      will not be settled under the Settlement and Release
      Agreement;

            

    

     

    
      	
               
      

            	
              (m)

            	
              the
      Claims are in good standing under the laws of Newfoundland and Labrador up
      to and including the date hereof and except for the Land Claims, no
      proceedings have been instituted to invalidate or assert an adverse claim
      or challenge against or to the ownership of or title to the Claims, nor is
      there any basis therefore, and no other person is entitled to an agreement
      or option to acquire or purchase the Claims or any portion thereof, and
      except as disclosed in the Disclosure Documents of UUL, no person has any
      royalty or other interest whatsoever, in production from any part of the
      Claims;

            

    

     

    
      	
               
      

            	
              (n)

            	
              other
      than the Land Claims, there are no actions, suits or proceedings pending
      or to its knowledge, threatened, against or adversely affecting or which
      could adversely affect the Claims before any federal, provincial,
      municipal or other governmental authority, court, department, commission,
      board bureau, agency or instrumentality, domestic or foreign, whether or
      not insured, and which might involve the possibility of any Encumbrance
      against the Claims;

            

    

     

    
      	
               
      

            	
              (o)

            	
              to
      the best of UUL’s knowledge, information and belief, the Claims are freely
      accessible by helicopter and there is no fact or condition that would
      result in the interference with or termination of such
    access;

            

    

     

    
      	
               
      

            	
              (p)

            	
              to
      the best of UUL’s knowledge, information and belief, all work carried out
      on the Claims has been carried out in compliance with all applicable laws,
      including Environmental Laws, and neither UUL, nor to its knowledge any
      person, has received any notice of any breach of any such law and it has
      no knowledge of any environmental liabilities associated with the Claims
      and there are no environmental audits, evaluations, assessments or studies
      relating to the Claims;

            

    

     

    
 

    
      
        50612059.9  

      

      
        6

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (q)

            	
              subject
      as provided in section 2.4, no consent or approval, except as has been
      obtained, is required to permit the execution and delivery of this
      Agreement by UUL or the performance of its obligations
      hereunder;

            

    

     

    
      	
               
      

            	
              (r)

            	
              no
      representation or warranty made by it in this Agreement or any statement,
      schedule, certificate or other document delivered by it pursuant to or in
      connection with this Agreement or in connection with any transaction
      contemplated hereby contains any untrue statement of a material fact or
      omits to state a material fact required to be stated herein or therein or
      necessary to make the statements contained herein or therein not
      misleading;

            

    

     

    
      	
               
      

            	
              (s)

            	
              other
      than the Land Claims, there is no claim, complaint or other proceeding
      initiated by or on behalf of any aboriginal group or to which any
      aboriginal group is legally a necessary party pending or, to the knowledge
      of UUL, threatened by any aboriginal group with respect to UUL’s
      exploration of the Claims and UUL has not engaged in any negotiations with
      any aboriginal group in respect of the Claims or entered into any impact
      and benefits agreement with any aboriginal group in respect of the
      Claims;

            

    

     

    
      	
               
      

            	
              (t)

            	
              UUL
      has made full disclosure to Crosshair of all material facts of which UUL
      has knowledge relating to the Claims and all relevant information that UUL
      possesses which relates to the Claims which could have any effect upon
      Crosshair determining whether it shall enter into this Agreement and this
      Agreement does not contain any untrue statement by UUL of a material fact
      of which Crosshair has knowledge and Crosshair has not omitted to state in
      this Agreement a material fact necessary in order to make the statements
      contained herein not misleading;

            

    

     

    
      	
               
      

            	
              (u)

            	
              UUL
      is current with all material filings required to be made in all
      jurisdictions in which UUL exists or carries on any material business and
      UUL is not in default of any filings required to be made under applicable
      securities laws;

            

    

     

    
      	
               
      

            	
              (v)

            	
              all
      Disclosure Documents of UUL contain no untrue statement of a material fact
      as at the date thereof nor do they omit to state a material fact which, at
      the date thereof, was required to have been stated or was necessary to
      prevent a statement that was made from being false or misleading in the
      circumstances in which it was made;

            

    

     

    
      	
               
      

            	
              (w)

            	
              other
      than the Land Claims, there are no material Legal Proceedings pending or,
      to the knowledge of UUL, threatened against, or relating to UUL or
      affecting the assets of UUL and, to the best of UUL’s knowledge, there is
      no reasonable basis for any such proceeding, and there are no judgments
      outstanding against UUL or affecting UUL’s
  assets;

            

    

     

    
      	
               
      

            	
              (x)

            	
              the
      audited consolidated financial statements of UUL for the financial year
      ended September 30, 2007 and the unaudited financial statements for the
      interim period ended March 31, 2008 (the “UUL Financial
      Statements”) are true and
correct

            

    

     

    
 

    
      
         
50612059.9

      

      
        7

        
          

        

      

      
         

      

    

     

    in every
material respect and present fairly and accurately the financial position and
results of the operations of UUL for the periods ended and have been prepared in
accordance with Canadian generally accepted accounting principles applied on a
consistent basis; and

     

    
      	
               
      

            	
              (y)

            	
              there
      are no material liabilities of UUL, whether direct, indirect, absolute,
      contingent which are not disclosed or reflected in the UUL Financial
      Statements except those occurred in the ordinary course of business of the
      Corporation since March 31, 2008.

            

    

     

    
      
        	
                2.2

              	
                Crosshair
      represents and warrants to UUL that, as of the date of this
      Agreement:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              Recitals
      A, B and C form part of this Agreement and, to the best of its knowledge,
      are true and correct in all
respects;

            

    

     

    
      	
               
      

            	
              (b)

            	
              it
      is a valid and subsisting corporation duly incorporated under the laws of
      its jurisdiction of incorporation and has full corporate power and
      authority to execute and deliver this Agreement and the Ancillary
      Documents to which Crosshair is a party and to observe and perform its
      covenants and obligations hereunder and thereunder and has taken all
      necessary corporate proceedings and obtained all necessary corporate
      approvals in respect thereof and, upon execution and delivery of this
      Agreement by it, this Agreement will constitute a legal, valid and binding
      obligation of Crosshair enforceable against it in accordance with its
      terms except that:

            

    

     

    
      	
               
      

            	
              (i)

            	
              enforceability
      may be limited by bankruptcy, insolvency or other laws affecting
      creditors’ rights generally;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              equitable
      remedies, including the remedies of specific performance and injunctive
      relief, are available only in the discretion of the applicable
      court;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              a
      court is not required to treat as conclusive, final or binding those
      certificates and determinations which this Agreement states are to be so
      treated;

            

    

     

    
      	
               
      

            	
              (iv)

            	
              a
      court may stay proceedings before it by virtue of equitable or statutory
      powers; and

            

    

     

    
      	
               
      

            	
              (v)

            	
              rights
      of indemnity and contribution hereunder may be limited under applicable
      law;

            

    

     

    
      	
               
      

            	
              (c)

            	
              neither
      the execution of this Agreement nor the consummation of the transactions
      contemplated hereby conflict with, result in a breach of or accelerate the
      performance required by any agreement to which it is a
    party;

            

    

     

    
      	
               
      

            	
              (d)

            	
              neither
      the execution of this Agreement nor the consummation of the transactions
      contemplated hereby, result in a breach of the laws of any
      applicable

            

    

     

    
 

    
      
         
50612059.9

      

      
        8

        
          

        

      

      
         

      

    

     

    jurisdiction,
its constating documents or resolutions of its directors and
shareholders;

     

    
      	
               
      

            	
              (e)

            	
              no
      consent or approval, except as has been obtained, is required to permit
      the execution and delivery of this Agreement by Crosshair or the
      performance of its obligations
hereunder;

            

    

     

    
      	
               
      

            	
              (f)

            	
              no
      representation or warranty made by Crosshair in this Agreement or any
      statement, schedule, certificate or other document delivered by it
      pursuant to or in connection with this Agreement or in connection with any
      transaction contemplated hereby contains any untrue statement of a
      material fact or omits to state a material fact required to be stated
      herein or therein or necessary to make the statements contained herein or
      therein not misleading;

            

    

     

    
      	
               
      

            	
              (g)

            	
              there
      are no material Legal Proceedings pending or, to the knowledge of
      Crosshair, threatened against, or relating to Crosshair or affecting the
      assets of Crosshair and, to the best of Crosshair’s knowledge, there is no
      reasonable basis for any such proceeding, and there are no judgments
      outstanding against Crosshair or affecting Crosshair’s
    assets;

            

    

     

    
      	
               
      

            	
              (h)

            	
              Crosshair is a reporting issuer or the equivalent
      thereof, under the securities laws of each of the Provinces of British
      Columbia and Ontario;

            

    

     

    
      	
               
      

            	
              (i)

            	
              Crosshair
      is current with all material filings required to be made in all
      jurisdictions in which Crosshair exists or carries on any material
      business and Crosshair is not in default of any filings required to be
      made under applicable securities
laws;

            

    

     

    
      	
               
      

            	
              (j)

            	
              all
      Disclosure Documents of Crosshair contain no untrue statement of a
      material fact as at the date thereof nor do they omit to state a material
      fact which, at the date thereof, was required to have been stated or was
      necessary to prevent a statement that was made from being false or
      misleading in the circumstances in which it was
  made;

            

    

     

    
      	
               
      

            	
              (k)

            	
              upon
      their issuance, the Crosshair Warrants will be validly created, issued and
      outstanding, registered in the names of the holders
    thereof;

            

    

     

    
      	
               
      

            	
              (l)

            	
              upon
      their issuance, the Crosshair Shares and the common shares underlying the
      Crosshair Warrants will be validly issued and outstanding as fully paid
      and non-assessable shares of
Crosshair;

            

    

     

    
      	
               
      

            	
              (m)

            	
              the
      audited consolidated financial statements of Crosshair for the financial
      year ended April 30, 2007 and the unaudited financial statements for the
      interim period ended January 31, 2008 (the “Crosshair Financial
      Statements”) are true and correct in every material respect and
      present fairly and accurately the financial position and results of the
      operations of Crosshair for the periods ended and have been prepared in
      accordance with Canadian generally accepted accounting principles applied
      on a consistent basis; and

            

    

     

    
 

    
      
        50612059.9  

      

      
        9

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (n)

            	
              there
      are no material liabilities of Crosshair, whether direct, indirect,
      absolute or contingent which are not disclosed or reflected in the
      Crosshair Financial Statements except those occurred in the ordinary
      course of business of the Corporation since January 31,
    2008.

            

    

    
      	
              Lib2:131769.3

            

    

     

    
      
        	
                2.3

              	
                The
      representations, warranties and covenants hereinbefore set out are
      conditions on which each of the Parties have relied in entering into this
      Agreement and each of the Parties will indemnify and save the other
      harmless from all loss, damage, costs, actions and suits arising out of or
      in connection with any breach of any representation, warranty, covenant,
      agreement or condition made by it and contained in this
      Agreement.

              

      

    

     

    
      
        	
                2.4

              	
                For
      the purposes of section 2.1(b) and section 2.1(q), UUL makes no
      representation or warranty as to whether or not the Acquisition requires
      the approval of UUL’s shareholders pursuant to section 301 of the Business Corporations Act
      (British Columbia).

              

      

    

     

    
      
        	
                3.

              	
                PURCHASE AND
      SALE

              

      

    

     

    
      
        	
                3.1

              	
                Subject
      to the terms and conditions of this Agreement, UUL hereby agrees to sell
      and transfer to Crosshair at the Closing, and Crosshair hereby agrees to
      purchase from UUL at the Closing, 100% of UUL’s Interest in the Claims and
      the Assets and all of UUL’s rights and obligations under the
      PAA.

              

      

    

     

    
      
        	
                3.2

              	
                In
      consideration of the sale to it of UUL’s Interest in the Claims and the
      Assets and UUL’s rights and obligations under the PAA, Crosshair shall, at
      Closing:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              forgive
      the Bridge Loan and release the Security to the Vendor;
  and

            

    

     

    
      	
               
      

            	
              (b)

            	
              issue
      to UUL 10,000,000 common shares of Crosshair as presently constituted (the
      “Crosshair
      Shares”) and 7,500,000 common share purchase warrants, each to
      purchase one common share of Crosshair as presently constituted (the
      “Crosshair
      Warrants”).

            

    

     

    ((a) and
(b) are, together, the “Purchase Price”)

     

    
      
        	
                3.3

              	
                UUL
      and Crosshair will elect in the prescribed manner and within the
      prescribed time, pursuant to subsection 85(1) of the Income Tax Act
      (Canada), to effect the transfer
of:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              UUL’s
      Interest in the Claims and the Assets to Crosshair at an agreed amount of
      $500,000; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              UUL’s
      rights and obligations under the PAA at an agreed amount of
      $1.00.

            

    

     

    
      
        	
                3.4

              	
                The
      Crosshair Warrants will be exercisable for three (3) years from the
      Closing Date of the Acquisition at an exercise price of $1.00 per
      Crosshair Warrant. If over a period of 20 days following the Closing Date
      and the expiry of the Crosshair Warrants, the daily volume weighted
      average trading price of Crosshair common shares on the Toronto Stock
      Exchange, or such other stock exchange where the majority of trading
      occurs,

              

      

    

     

    
 

    
      
         
50612059.9

      

      
        10

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              exceeds
      $2.00, Crosshair may give notice in writing to the holders of the
      Crosshair Warrants within 30 days of such occurrence that the Crosshair
      Warrants shall expire at 4:00 p.m. (Vancouver time) on the 30th
      day following the giving of such notice unless exercised by the holders
      prior to such date.

            

    

     

    
      
        	
                3.5

              	
                Crosshair
      is relying on an exemption from the requirements to provide UUL with a
      prospectus and, as a consequence of acquiring securities pursuant to this
      exemption, certain protections, rights and remedies provided by the
      Securities Act (British
      Columbia) including statutory rights of rescission or damages, will
      not be available to UUL.

              

      

    

     

    
      
        	
                3.6

              	
                The
      Crosshair Shares and Crosshair Warrants will be subject to resale
      restrictions and the certificates representing the securities will bear
      legends in substantially the following
form:

              

      

    

     

    UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE
HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [INSERT THE DATE THAT
IS FOUR MONTHS AND A DAY AFTER THE CLOSING DATE]

     

    
      
        	
                3.7

              	
                On
      Closing, UUL and Crosshair shall enter into an assignment and assumption
      agreement in the form of Schedule “F” in respect of the Interest (the
      “Assignment and
      Assumption
Agreement”).

              

      

    

     

    
      
        	
                3.8

              	
                On
      Closing, UUL and Crosshair shall enter into a novation agreement with
      Silver Spruce in accordance with section 37 of the PAA in substantially
      the form of Schedule “H” or in such other form as may be acceptable to
      UUL.  Crosshair and Silver Spruce (the “Novation
      Agreement”).

              

      

    

     

    
      
        	
                4.

              	
                VOTING TRUST AND
      ESCROW PROVISIONS

              

      

    

     

    
      
        	
                4.1

              	
                On
      Closing, the UUL shall enter into a voting trust agreement in the form of
      Schedule “D”, in respect of the Crosshair Shares subject to the Escrow
      Agreement (the “Voting
      Trust Agreement”).

              

      

    

     

    
      
        	
                4.2

              	
                The
      Voting Trust Agreement shall expire upon the first to occur
      of:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              completion
      of a distribution of the Crosshair Shares and Crosshair Warrants to UUL’s
      shareholders; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              release
      of all of the Crosshair Shares and Crosshair Warrants from escrow in
      accordance with the terms of the Escrow Agreement, as more particularly
      described in section 4.4.

            

    

     

    
      
        	
                4.3

              	
                On
      Closing, UUL shall enter into an escrow agreement in the form of Schedule
      “C” in respect of the Crosshair Shares and Crosshair Warrants (the “Escrow
      Agreement”).

              

      

    

     

    
      
        	
                4.4

              	
                Pursuant
      to the terms of the Escrow Agreement, the Crosshair Shares and Crosshair
      Warrants will be released to UUL in equal tranches in three (3) month
      intervals, with the

              

      

    

     

    
 

    
      
         
50612059.9

      

      
        11

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              initial
      distribution occurring on the date which is three (3) months after the
      Closing Date and the final distribution occurring on the date which is two
      (2) years after the Closing Date.

            

    

     

    
      
        	
                4.5

              	
                The
      Escrow Agreement shall expire upon the first to occur
  of:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              completion
      of a distribution of the Crosshair Shares and Crosshair Warrants to UUL’s
      shareholders; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              release
      of all of the Crosshair Shares and Crosshair Warrants from escrow in
      accordance with the terms of the Escrow
  Agreement.

            

    

     

    
      
        	
                5.

              	
                NET SMELTER RETURN
      (NSR) ROYALTY

              

      

    

     

    
      
        	
                5.1

              	
                UUL will
      prior to Closing reserve to itself from the transfer of the Claims
      contemplated by this Agreement an interest in the Claims by way of a 2%
      royalty in respect of 60% of production from the Claims calculated and
      payable in accordance with the terms set out in Schedule E (the “Royalty”), which
      Royalty shall comprise an interest in, run with, bind and touch the
      mineral lands comprised in the transferred Claims, including any renewal
      thereof and any other form of successor or substitute title therefore,
      including for the sake of certainty any mineral lease or mineral grant
      arising therefrom.

              

      

    

     

    
      
        	
                5.2

              	
                Crosshair may, at any time and at its sole
      election, elect by delivery of a written notice to UUL, to purchase
      25% of the Royalty in exchange for a lump sum
      payment of $1,000,000, thereby
      reducing the Royalty from a 2.0% royalty to a 1.5%
      royalty.

              

      

    

     

    
       

      
        
          	
                  5.3

                	
                  
                    Crosshair
      acknowledges and agrees that the Royalty to be retained by UUL is a direct
      interest in the Claims and in the ores mined from the Claims, provided
      that such interest shall be satisfied and shall be terminated with respect
      to any such ores by payment of the amount of the Royalty relating
      thereto.  Notwithstanding that the Royalty is an interest in the
      Claims and the ores removed therefrom, the nature, extent and timing of
      all work relating to the Claims and their exploration, development or
      operation, including, without limitation, the timing for the commencement,
      suspension or termination of any such work and the treatment and
      disposition of any ore removed from the Claims, shall all be in the
      discretion of Crosshair.

                  

                

        

      

       

    

    
      
        	
                5.4

              	
                If the Claims are converted into mining leases or
      some other form of mineral tenure, the provisions of this section
      5 shall continue to apply to such mining leases or
      other form of mineral tenure as though each reference in this section
      5 to Claims was a reference to such mining leases
      or other form of mineral
tenure.

              

      

    

     

    
      
        	
                6.

              	
                SETTLEMENT AND
      RELEASE

              

      

    

     

    
      
        	
                6.1

              	
                On
      Closing, UUL, Silver Spruce and Crosshair shall have entered into a
      settlement and release agreement substantially in the form attached hereto
      as Schedule G, wherein Silver Spruce will agree to pay UUL $250,000 in
      return for UUL and Crosshair releasing Silver Spruce from all claims
      arising under the PAA (the “Settlement and Release
      Agreement”).

              

      

    

     

    
 

    
      
         
50612059.9

      

      
        12

        
          

        

      

      
         

      

    

    
      
        	
                7.

              	
                RIGHT TO
      REPRESENTATION ON CROSSHAIR BOARD OF
  DIRECTORS

              

      

    

     

    
      
        	
                7.1

              	
                The
      Parties agree that they will use their best efforts, subject to any
      required regulatory approvals, to cause Mr. Ron Atlas to be appointed as a
      director of Crosshair.

              

      

    

     

    
      
        	
                8.

              	
                CLOSING
      ARRANGEMENTS

              

      

    

     

    
      
        	
                8.1

              	
                The
      Closing shall take place at 10:00 a.m. (Vancouver time) on the Closing
      Date at the offices of Blake, Cassels & Graydon LLP, Suite 2600, 595
      Burrard Street, Vancouver, B.C., or such other time on the Closing Date as
      may be agreed by the Parties.

              

      

    

     

    
      
        	
                8.2

              	
                At
      the Closing, UUL shall deliver or cause to be delivered to
      Crosshair:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              a
      certified true copy of the resolutions of UUL evidencing that the Board of
      Directors of UUL has approved this Agreement and all of the transactions
      of UUL contemplated hereunder;

            

    

     

    
      	
               
      

            	
              (b)

            	
              a
      form of document satisfactory to Crosshair, acting reasonably, duly
      executed by UUL for the transfer of UUL’s Interest in the Claims to
      Crosshair and where, applicable, UUL will file and record such instruments
      of conveyance and transfer with the appropriate governmental authorities
      (all filing fees to be paid by
UUL);

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      Escrow Agreement, attached hereto as Schedule “C”, duly executed by UUL,
      for the escrow of the Crosshair Shares and Crosshair Warrants issued to
      UUL;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      Voting Trust Agreement, attached hereto as Schedule “D”, duly executed by
      UUL, for the voting by UUL of the Crosshair Shares subject to the Escrow
      Agreement;

            

    

     

    
      	
               
      

            	
              (e)

            	
              the
      Assignment and Assumption Agreement, attached hereto as Schedule “F”, duly
      executed by UUL, for the transfer of UUL’s rights and obligations under
      the PAA;

            

    

     

    
      	
               
      

            	
              (f)

            	
              a
      certificate of a senior officer of UUL (without personal liability) dated
      as of the Closing Date certifying that the representations and warranties
      of UUL contained herein are true and correct in all material respects as
      of the date made and as of the Closing
Date;

            

    

     

    
      	
               
      

            	
              (g)

            	
              originals
      or copies of all documents, data, maps, books, records, results and other
      material related to the Claims in the possession of
  UUL;

            

    

     

    
      	
               
      

            	
              (h)

            	
              favourable
      legal opinions of legal counsel to UUL, addressed to Crosshair and dated
      as of the Closing Date, in the form and content acceptable to Crosshair
      acting reasonably; and

            

    

     

    
      	
               
      

            	
              (i)

            	
              such
      other documents as Crosshair may reasonably
  request.

            

    

     

    
      
        	
                8.3

              	
                At
      Closing, Crosshair shall deliver or cause to be
  delivered:

              

      

    

     

    
 

    
      
        50612059.9  

      

      
        13

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (a)

            	
              certified
      true copies of the resolutions of the directors of Crosshair evidencing
      the approval of this Agreement and all of the transactions of Crosshair
      contemplated hereunder;

            

    

     

    
      	
               
      

            	
              (b)

            	
              a
      certificate or certificates representing the Crosshair Shares registered
      in the name of UUL;

            

    

     

    
      	
               
      

            	
              (c)

            	
              a
      certificate or certificates representing the Crosshair Warrants registered
      in the name of UUL;

            

    

     

    
      	
               
      

            	
              (d)

            	
              a
      form of document satisfactory to UUL, acting reasonably, evidencing that
      the Bridge Loan is forgiven and the Security is
  released;

            

    

     

    
      	
               
      

            	
              (e)

            	
              the
      Escrow Agreement, attached hereto as Schedule “C”, duly executed by
      Crosshair, for the escrow of the Crosshair Shares and Crosshair Warrants
      issued to UUL;

            

    

     

    
      	
               
      

            	
              (f)

            	
              the
      Voting Trust Agreement, attached hereto as Schedule “E”, duly executed by
      Crosshair, for the voting by UUL of the Crosshair Shares subject to the
      Escrow Agreement;

            

    

     

    
      	
               
      

            	
              (g)

            	
              the
      Assignment and Assumption Agreement, attached hereto as Schedule “F”, duly
      executed by Crosshair, for the transfer of UUL’s rights and obligations
      under the PAA;

            

    

     

    
      	
               
      

            	
              (h)

            	
              a
      certificate signed by a senior officer of Crosshair (without personal
      liability) dated as of the Closing Date certifying that the
      representations and warranties of Crosshair contained herein are true and
      correct in all material respects as of the date made and as of the Closing
      Date;

            

    

     

    
      	
               
      

            	
              (i)

            	
              such
      favourable legal opinions of legal counsel to Crosshair, addressed to UUL
      and dated as of the Closing Date, in the form and content acceptable to
      UUL; and

            

    

     

    
      	
               
      

            	
              (j)

            	
              such
      other documents as UUL may reasonably
request.

            

    

     

    
      
        	
                9.

              	
                CONDITIONS OF
      CLOSING

              

      

    

     

    
      
        	
                9.1

              	
                Crosshair
      shall not be obligated to complete the Acquisition pursuant to this
      Agreement unless, at or before the Closing, each of the conditions listed
      below in this section 9.1 have been satisfied, it being understood that
      the said conditions are for the exclusive benefit of
      Crosshair:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              the
      representations of UUL in this Agreement shall be true and correct in all
      material respects at the Closing;

            

    

     

    
      	
               
      

            	
              (b)

            	
              UUL
      shall have performed and complied in all material respects with the terms
      and conditions of this Agreement on its part to be performed or complied
      with at or before Closing and shall have executed or delivered to
      Crosshair at the

            

    

     

    
 

    
      
        50612059.9  

      

      
        14

        
          

        

      

      
         

      

    

     

    Closing
all of the documents contemplated in section 8.2 and elsewhere in this
agreement;

     

    
      	
               
      

            	
              (c)

            	
              Crosshair’s
      due diligence review of UUL and the Claims does not demonstrate the
      existence of an material undisclosed fact regarding UUL or the Claims or
      the material inaccuracy of a representation or warranty of UUL as set out
      in section 2;

            

    

     

    
      	
               
      

            	
              (d)

            	
              during
      the Interim Period, there shall have been no Material Adverse Change with
      respect to the Claims or UUL;

            

    

     

    
      	
               
      

            	
              (e)

            	
              during
      the Interim Period, there shall have been no Order made or any Legal
      Proceedings commenced or threatened for the purpose, or which could have
      the effect, of enjoining, preventing or restraining the completion of the
      transactions contemplated by this Agreement;
and

            

    

     

    
      	
               
      

            	
              (f)

            	
              all
      regulatory approvals and consents to the transactions contemplated by this
      Agreement shall have been obtained and be in full force and effect,
      including the approval of any stock exchange that the securities of the
      Parties are listed on.

            

    

     

    
      
        	
                9.2

              	
                If
      any condition in section 9.1 has not been fulfilled at or before Closing
      or if any such condition is or becomes impossible to satisfy, other than
      as a result of the failure of Crosshair to comply with its obligations
      under this Agreement, then Crosshair may in its sole discretion, without
      limiting the rights or remedies available to Crosshair at law or in
      equity, either:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              terminate
      this Agreement by notice to UUL; or

            

    

     

    
      	
               
      

            	
              (b)

            	
              waive
      compliance with any such condition without prejudice to its right of
      termination in the event of non-fulfillment of any other
      condition.

            

    

     

    
      
        	
                9.3

              	
                UUL
      shall not be obligated to complete the transactions contemplated by this
      Agreement unless, at or before Closing, each of the conditions listed
      below in this section 9.3 has been satisfied, it being understood that the
      said conditions are included for the exclusive benefit of
    UUL:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              the
      representations of Crosshair in this Agreement shall be true and correct
      in all material respects at the
Closing;

            

    

     

    
      	
               
      

            	
              (b)

            	
              Crosshair
      shall have performed and complied in all material respects with the terms
      and conditions of this Agreement on its part to be performed or complied
      with at or before Closing and shall have executed or delivered to UUL at
      the Closing all of the documents contemplated in section 8.3 and elsewhere
      in this agreement;

            

    

     

    
      	
               
      

            	
              (c)

            	
              UUL’s
      due diligence review of Crosshair does not demonstrate the existence of a
      material undisclosed fact regarding Crosshair or the material inaccuracy
      of a representation and warranty of Crosshair as set out in section
      2;

            

    

     

    
 

    
      
        50612059.9  

      

      
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              (d)

            	
              during
      the Interim Period, there shall have been no Order made or any Legal
      Proceedings commenced or threatened for the purpose, or which could have
      the effect, of enjoining, preventing or restraining the completion of the
      transactions contemplated by this Agreement;
and

            

    

     

    
      	
               
      

            	
              (e)

            	
              all
      regulatory approvals and consents to the transactions contemplated by this
      Agreement shall have been obtained and be in full force and effect,
      including the approval of any stock exchange that the securities of the
      Parties are listed on.

            

    

     

    
      
        	
                9.4

              	
                If
      any condition in section 9.3 has not been fulfilled at or before Closing
      or if any such condition is or becomes impossible to satisfy, other than
      as a result of the failure of UUL to comply with its obligations under
      this Agreement, then UUL may in its sole discretion, without limiting the
      rights or remedies available to UUL at law or in equity,
      either:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              terminate
      this Agreement by notice to Crosshair;
or

            

    

     

    
      	
               
      

            	
              (b)

            	
              waive
      compliance with any such condition without prejudice to its right of
      termination on the event of non-fulfillment of any other
      condition.

            

    

     

    
      
        	
                10.

              	
                ACTION DURING INTERIM
      PERIOD

              

      

    

     

    
      
        	
                10.1

              	
                During
      the Interim Period, UUL shall operate all business related to the Claims
      and the PAA in the ordinary course of business and in compliance with all
      applicable Laws.

              

      

    

     

    
      
        	
                10.2

              	
                During
      the Interim Period UUL shall
not:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              dispose
      of, grant any interest in or encumber any of the
  Claims;

            

    

     

    
      	
               
      

            	
              (b)

            	
              enter
      into any contract or any other transaction that could affect any of the
      Claims, except with the prior written consent of
  Crosshair;

            

    

     

    
      	
               
      

            	
              (c)

            	
              terminate,
      cancel, modify or amend in any respect any contract related to the Claims
      or take or fail to take any action that would entitle any party to a
      contract related to the Claims to terminate, modify, cancel or amend such
      contract; or

            

    

     

    
      	
               
      

            	
              (d)

            	
              agree,
      commit or enter into any understanding to take any action set out in
      paragraphs (a), (b) or (c) of this section
10.2.

            

    

     

    
      
        	
                11.

              	
                SHARING OF AND
      CONFIDENTIAL NATURE OF
      INFORMATION

              

      

    

     

    
      
        	
                11.1

              	
                Upon
      execution of this Agreement, UUL will forthwith make available to
      Crosshair all technical, engineering, environmental data and reports on
      the Claims in its possession including, but not limited to: engineering
      reports, geological, geochemical and geophysical survey data and reports,
      environmental data and reports and all correspondence between UUL and the
      Newfoundland government or other
agencies.

              

      

    

     

    
      
        	
                11.2

              	
                Pursuant
      to the Crosshair’s due diligence investigation and UUL’s due diligence
      investigation, Crosshair and UUL each will disclose and make available to
      the other

              

      

    

     

    
 

    
      
         
50612059.9

      

      
        16

        
          

        

      

      
         

      

    

     

    certain
Confidential Information.  The term “Confidential Information” as used
in this Agreement will mean all information, data and knowledge (whether in the
form of documents or other written material, electronic, magnetic or laser
recording or memory, know-how or otherwise) relating, directly or indirectly, to
the property, assets, books and records, or corporate records of either Party
that is delivered or disclosed to the other Party, and will include the
receiving Party’s analyses, interpretations and compilations of such
information, data, knowledge or know-how. The term “Confidential Information”
will not include information, data and knowledge that:

     

    
      	
               
      

            	
              (a)

            	
              is
      in possession or control of a Party prior to disclosure by the other
      Party;

            

    

     

    
      	
               
      

            	
              (b)

            	
              is
      in the public domain prior to such disclosure;
  or

            

    

     

    
      	
               
      

            	
              (c)

            	
              lawfully
      enters the public domain through no violation of this
      Agreement.

            

    

     

    
      
        	
                11.3

              	
                For
      the twelve month period commencing on the effective date of the this
      Agreement, neither Party will directly or indirectly use any Confidential
      Information for its benefit, the benefit of any third party or to the
      detriment of the other Party or disclose Confidential Information to any
      third party, except as provided in this section 11.3. Notwithstanding the
      foregoing, either Party may disclose Confidential Information
      to:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              its
      officers, directors, employees, affiliates, agents, attorneys,
      accountants, consultants, contractors, subcontractors or advisors in
      connection with the performance of the Parties under this
      Agreement;

            

    

     

    
      	
               
      

            	
              (b)

            	
              any
      third party to or with which such Party contemplates its sale, merger or
      amalgamation, provided that in any such case only such Confidential
      Information as such third party shall have a legitimate business need to
      know shall be disclosed and the Person to whom disclosure is made shall
      first undertake in writing to protect the confidential nature of such
      information at least to the same extent as the parties are obligated under
      this section 11; or

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      extent required by law or the applicable rules of a stock exchange or
      Government Authority, and then only after giving the other Party
      reasonable advance notice of the intended disclosure so that such Party
      can seek a protective order.

            

    

     

    
      
        	
                11.4

              	
                A
      Party disclosing Confidential Information will be responsible and liable
      for any use or disclosure of the Confidential Information in violation of
      this Agreement by the persons to whom it makes such
      disclosures.

              

      

    

     

    
      
        	
                11.5

              	
                In
      addition to all of its other remedies at law or in equity for a breach of
      the foregoing use and confidentiality obligations, each Party will have
      the right to obtain an injunction to prevent the use or disclosure of
      Confidential Information in violation of the terms of this
      Agreement.

              

      

    

     

    
      
        	
                11.6

              	
                Effective
      upon Closing, all Confidential Information relating to the Claims will be
      deemed to be Confidential Information of
  Crosshair.

              

      

    

     

    
 

    
      
         
50612059.9

      

      
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                11.7

              	
                Neither
      Party shall make announcements regarding the Acquisition and other
      transactions contemplated herein prior to Closing which has not been
      previously reviewed and commented on by the other Party, except that a
      Party may make press releases or filings with a regulatory authority if
      counsel for such Party advises that such press release or filing is
      necessary in order to comply with applicable Law or the rules and policies
      of any securities regulatory authority having jurisdiction over such
      Party, in which case such Party will first make a reasonable effort to
      obtain the prior approval of the other Party, such approval not to be
      unreasonably withheld or
delayed.

              

      

    

     

    
      
        	
                12.

              	
                REGISTRATIONS

              

      

    

     

    
      
        	
                12.1

              	
                The
      Parties agree to have this Agreement registered against title to the
      Claims with the Mineral Claims Recorder (Newfoundland and Labrador) as
      soon as practicable after
Closing.

              

      

    

     

    
      
        	
                12.2

              	
                UUL
      shall have the right to register against title to the Claims with the
      Mineral Claims Recorder (Newfoundland and Labrador) against title to the
      Claims and, if the Claims are converted into leases or some other form of
      mineral tenure, to register against title to such leases or other forms of
      mineral tenure, such forms of notice, caution or other documents that UUL
      may consider necessary or desirable to give notice to third parties of
      UUL’s reservation of the Royalty and to protect UUL’s right to receive the
      Royalty.  Crosshair consents to such registrations and shall
      cooperate as may be reasonably required by UUL with respect to
      accomplishing the same.

              

      

    

     

    
      
        	
                13.

              	
                NOTICES

              

      

    

     

    
      
        	
                13.1

              	
                Any
      notice, direction or other instrument required or permitted to be given
      under this Agreement will be in writing and may be given by the delivery
      of the same or by mailing the same by prepaid registered or certified mail
      or by sending the same by telegram, telex, telecommunication, facsimile or
      other similar form of communication, in each case addressed as
      follows:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              If
      to UUL at:

            

    

    Suite
600-595 Howe Street

    Vancouver,
British Columbia,

    V6C
2T5

    

    Attention:
Ron Atlas

    Facsimile
No.: 604-662-3904

    

     

    
      	
               
      

            	
              (b)

            	
              If
      to Crosshair at:

            

    

    Suite
1240 - 1140 West Pender Street,

    Vancouver,
BC

    V6E
4G1

     

    
 

    
      
        50612059.9  

      

      
        18

        
          

        

      

      
         

      

    

     

    Attention:  Mark
J. Morabito

    Facsimile
No.: 604 681-8039

     

     

    
      
        	
                13.2

              	
                Any
      notice, direction or other instrument
will:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              if
      delivered, be deemed to have been given and received on the day it was
      delivered; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              if
      sent by telecommunication, facsimile or other similar form of
      communication, be deemed to have been given and received on the business
      day following the day it was so
sent.

            

    

     

    
      
        	
                13.3

              	
                A
      Party may at any time give to the other Party notice in writing of any
      change of address of the Party giving such notice and from and after the
      giving of such notice the address or addresses therein specified will be
      deemed to be the address of such Party for the purposes of giving notice
      hereunder.

              

      

    

     

    
      
        	
                14.

              	
                TERMINATION

              

      

    

     

    
      
        	
                14.1

              	
                Other
      than the provisions of this Agreement which explicitly survive
      termination, and other than sections 2.3, 9.1 and 9.3, this Agreement will
      terminate:

              

      

    

     

    
      	
               
      

            	
              (a)

            	
              upon
      the written agreement of the Parties to terminate;
  or

            

    

     

    
      	
               
      

            	
              (b)

            	
              if
      the conditions in section 9 are not satisfied or waived by July 31, 2008,
      or such later date as may be agreed to by the
  Parties.

            

    

     

    
      
        	
                15.

              	
                FORCE
      MAJEURE

              

      

    

     

    
      
        	
                15.1

              	
                The
      obligations of a Party shall be suspended to the extent and for the period
      that performance is prevented by any cause, whether foreseeable or
      unforeseeable, beyond its reasonable control, including without
      limitation, labour disputes (however arising and whether or not employee
      demands are reasonable or within the power of the Party to grant); acts of
      God; laws, instructions or requests of any government or governmental
      entity; judgments or orders of any court; inability to obtain on
      reasonably acceptable terms any public or private licence, permit or other
      authorisation; curtailment or suspension of activities to remedy or avoid
      an actual or alleged, present or prospective violation of Environmental
      Laws; action or inaction by any federal, provincial or local agency that
      delays or prevents the issuance or granting of any approval or
      authorisation required to conduct operations beyond the reasonable
      expectations of the Party seeking the approval or authorisation; acts of
      war or conditions arising out of or attributable to war, whether declared
      or undeclared; riot; civil strife, terrorism, insurrection or rebellion;
      fire, explosion, earthquake; delay or failure by suppliers or transporters
      of materials, parts, supplies, services or equipment or by contractors’ or
      subcontractors’ shortage of, or inability to obtain, labour,
      transportation, materials, machinery, equipment, supplies, utilities or
      services; accidents; breakdown of equipment, machinery or facilities;
      actions by native rights groups, environmental groups, or other similar
      special interest groups; or

              

      

    

     

    
 

    
      
        50612059.9  

      

      
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              any
      other cause whether similar or dissimilar to the foregoing (an “Intervening Event”).
      Notwithstanding any of the foregoing, lack of funds or inability to raise
      financing shall not be considered force majeure events for the purposes of
      this section 15.1.

            

    

     

    
      	
               
      

            	
              15.2

            	
              A
      Party relying on the provisions of section 15.1 will promptly give
      written notice to the other Parties of the particulars of the Intervening
      Event and all time limits imposed by this Agreement will be extended from
      the date of delivery of such notice by a period equivalent to the period
      of delay resulting from an Intervening
Event.

            

    

     

    
      	
               
      

            	
              15.3

            	
              A
      Party relying on the provisions of section 15.1 will take all
      reasonable steps to eliminate any Intervening Event and, if possible, will
      perform its obligations under this Agreement as far as commercially
      practical, but nothing herein will require such Party to settle or adjust
      any labour dispute or to question or to test the validity of any law,
      rule, regulation or order of any duly constituted governmental authority
      or to complete its obligations under this Agreement if an Intervening
      Event renders completion commercially impracticable.  A Party
      relying on the provisions of section 15.1 will give written notice to
      the other Parties as soon as such Intervening Event ceases to
      exist.

            

    

     

    
      
        	
                16.

              	
                DEFAULT

              

      

    

     

    
      	
               
      

            	
              16.1

            	
              Notwithstanding
      anything in this Agreement to the contrary, if any Party (a “Defaulting Party”) is in
      default of any requirement herein set forth any other Party may give
      written notice to the Defaulting Party specifying the default and the
      Defaulting Party will not lose any rights under this Agreement, unless
      within 10 days after the giving of  the first notice of
      default by the other Party the Defaulting Party has failed to take
      reasonable steps to cure the default by the appropriate performance and if
      the Defaulting Party fails within such period to take reasonable steps to
      cure any such default, the other Party will be entitled to seek any remedy
      it may have on account of such default, which remedies shall include
      terminating this Agreement and/or seeking the remedies of specific
      performance, injunction or damages.

            

    

     

    
      
        	
                17.

              	
                GENERAL

              

      

    

     

    
      	
               
      

            	
              17.1

            	
              The
      Parties will execute such further and other documents and do such further
      and other things as may be necessary or convenient to carry out and give
      effect to the intent of this
Agreement.

            

    

     

    
      	
               
      

            	
              17.2

            	
              Time
      will be of the essence in the performance of this
    Agreement.

            

    

     

    
      	
               
      

            	
              17.3

            	
              This
      Agreement may not be assigned by either Party prior to the
      Closing.  Thereafter, this Agreement may be assigned by either
      Party with the prior written consent of the other Party, which will not be
      unreasonably withheld, and will enure to the benefit of and be binding
      upon the Parties and their respective successors and permitted
      assigns.

            

    

     

    
      	
               
      

            	
              17.4

            	
              Crosshair
      shall not sell, assign, transfer, mortgage, encumber or otherwise dispose
      of the whole or any part of its right, title and interest in and to the
      Interest unless the proposed transferee first agrees with and for the
      benefit of UUL:

            

    

     

    
 

    
      
        50612059.9  

      

      
        20

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (a)

            	
              to
      assume all of the obligations of Crosshair under this Agreement in respect
      of the portion of the Interest disposed of to the transferee, including
      without limitation the obligations of Crosshair in respect of payment of
      the Royalty; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              not
      to sell, assign, transfer, mortgage or otherwise dispose of the whole or
      any part of its right, title and interest in and to the Interest unless
      the proposed transferee first enters into a covenant with and for the
      benefit of UUL on the terms of this section 17.4 with UUL or its
      successors or assigns, as the case may
be.

            

    

     

    
      	
               
      

            	
              17.5

            	
              This
      agreement (including the Schedules thereto) constitutes the entire
      agreement between the Parties and, except as hereafter set out, replaces
      and supersedes the Letter Agreement and all prior agreements, memoranda,
      correspondence, communications, negotiations and representations, whether
      oral or written, express or implied, statutory or otherwise between the
      Parties with respect to the subject matter herein.  There are no
      implied covenants contained in this
Agreement.

            

    

     

    
      	
               
      

            	
              17.6

            	
              In
      the event of any sale, assignment, transfer, pledge, hypothecation or
      disposition of any legal or equitable interest of any nature or kind
      whatsoever by Crosshair of any interest in the Claims to a party other
      than Silver Spruce (a “Third Party Purchaser”),
      Crosshair shall:

            

    

     

    
      	
               
      

            	
              (a)

            	
              furnish
      to the Third Party Purchaser a true copy of the
  PAA;

            

    

     

    
      	
               
      

            	
              (b)

            	
              procure
      the Third Party Purchaser’s written novation agreement in favour of Silver
      Spruce that the Third Party Purchaser shall be bound by the terms, rights,
      obligations and burdens of the PAA as if it were a party thereto in the
      place and stead of Crosshair; and

            

    

     

    
      	
               
      

            	
              (c)

            	
              ensure
      that in any agreement and deed of sale, assignment or disposition of any
      nature to a Third Party Purchaser a covenant to the same obligation and
      effect as this section 17.5 which would oblige the Third Party Purchaser
      and its successors and assigns is contained therein and that any such
      agreement, deed of sale, assignment or disposition is registered at the
      public registries in which it is required or customary to register mining
      agreements pertaining to land.

            

    

     

    
      	
               
      

            	
              17.7

            	
              The
      representations, warranties, covenants and agreements of UUL and Crosshair
      contained in this Agreement shall not merge in but shall instead survive
      the execution and delivery of this Agreement and all other deeds, bills of
      sale, conveyances, transfers, assignments, instruments and other documents
      delivered by the parties relating to the Acquisition, whether delivered on
      or after the Closing.

            

    

     

    
      	
               
      

            	
              17.8

            	
              This
      agreement will be governed by and construed according to the laws of
      British Columbia and the federal laws of Canada applicable
      therein.

            

    

     

    
      	
               
      

            	
              17.9

            	
              This
      agreement may only be amended by the written agreement of the Parties
      hereto and their permitted successors and permitted
    assigns.

            

    

     

    
 

    
      
         
50612059.9

      

      
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              17.10

            	
              All
      costs and expenses, including legal fees and disbursements, incurred in
      connection with the negotiation and preparation of this Agreement and the
      consummation of transactions contemplated hereby shall be borne by the
      Party that incurred same.

            

    

     

    
      	
              17.11

            	
              This
      agreement may be executed by facsimile and in one or more counterparts,
      each of which shall be deemed to be an original but each of which shall
      constitute one and the same
instrument.

            

    

    

     

    IN
WITNESS WHEREOF the Parties have executed these presents as of the day and year
first above written.

     

    

      
        
           
50612059.9

        

        
          22

          
            

          

        

        
           

          
             

          

        

      

       

      UNIVERSAL
URANIUM LTD.

       

      
        
          
            
              
                	 
      	 
      
	
                        By:

                      	
                        “William
      Galine”

                      
	 
      	
                        Name:
      William Galine

                      
	 
      	
                        Title:
      Executive Vice-President

                      
	 
      	 
      

              

            

          

        

      

      

      

      

      CROSSHAIR
EXPLORATION & MINING CORP.

       

      
        
          
            	 
      	 
      
	
                    By:

                  	
                     “Mark
      Morabito”

                  
	 
      	
                    Name:
      Mark Morabito

                  
	 
      	
                    Title:
      Chief Executive Officer

                  
	 
      	 
      

          

        

      

       

      

      

       

      
        
          
            50612059.9

          

           

        

        
          23

          
            

          

        

        
           

        

      

      SCHEDULE
“A” TO THE PURCHASE AND SALE AGREEMENT

      

      DESCRIPTION
OF THE CLAIMS

      

       

      

      

        
          
             
50612059.9

          

          
            A-1

            
              

            

          

          
             

          

        

        SCHEDULE
“B” TO THE  PURCHASE AND SALE AGREEMENT

        

        DESCRIPTION
OF THE ASSETS AND INVENTORY

        

         

        
          
            50612059.9  

          

          
            B-1

            
              

            

          

          
            
            

          

        

        

        

         

        
          
            50612059.9  

          

          
            B-2

            
              

            

          

          
            
            

          

        

        

        

        
          
            
              50612059.9  

            

            
              B-3

              
                

              

            

            
               

            

          

        

        

        SCHEDULE
“C” TO THE  PURCHASE AND SALE AGREEMENT

        

        Attached to an forming part
of the agreement between Crosshair Exploration & Mining Corp. and Universal
Uranium Ltd. dated July [●], 2008.

         

        ESCROW
AGREEMENT

         

        THIS AGREEMENT made as of
the  ____ day of July 2008 (the “Effective Date”).

         

        
          
            
              
                
                  	 
      	 
      
	
                          A
      M O N G:

                        	 
      
	 
      	
                          UNIVERSAL
      URANIUM LTD.

                           

                        
	 
      	
                          (“UUL”)

                        
	 
      	
                           
      OF
      THE FIRST PART

                           

                        
	 
      	
                          -
      and -

                           

                        
	 
      	
                          COMPUTERSHARE
      INVESTOR SERVICES INC.

                           

                        
	 
      	
                          (the
      “Escrow
      Agent”)

                        
	 	 
      OF
      THE SECOND PART 

                           

                        
	 
      	
                          -
      and -

                           

                        
	 
      	
                          CROSSHAIR
      EXPLORATION & MINING CORP.

                           

                        
	 
      	
                          (“Crosshair”)

                        
	 
      	 
      OF
      THE THIRD PART 

                           

                        

                

              

            

          

        

         

        WHEREAS UUL and Crosshair have
entered into a purchase and sale agreement dated the date hereof (the “Purchase
Agreement”);

         

        AND WHEREAS pursuant to the
terms of the Purchase Agreement, Crosshair has agreed to issue 10,000,000 common
shares (the “Crosshair
Shares”) and 7,500,000 common share purchase warrants (the “Crosshair Warrants”) (the
Crosshair Shares and Crosshair Warrants are, together, the “Subject Securities”) to
UUL;

         

        AND WHEREAS it is a condition
of the closing of the transactions contemplated in the Purchase Agreement that
UUL and Crosshair execute this Agreement with respect to the Subject
Securities;

         

        

        
          
                                                                         

          

        

        
          
            
               
50612059.9    

            

            
              C-1

              
                

              

            

            
               

            

          

        

        

        

         

        AND WHEREAS the Escrow Agent
has agreed to undertake and perform its duties according to the terms and
conditions hereof.

         

        NOW THEREFORE this Agreement
witnesseth that in consideration of the aforesaid agreements, and of the sum of
one dollar ($1.00) now paid by the parties hereto, each to the other (the
receipt and sufficiency of which sum the parties do hereby respectively
acknowledge each to the other), UUL covenants and agrees with Crosshair and with
the Escrow Agent, and Crosshair and the Escrow Agent jointly and severally
covenant and agree with each other and with UUL, as follows:

         

        1.           UUL
hereby places and deposits in escrow with the Escrow Agent the Subject
Securities which are represented by the certificates referred to in Exhibit “A”
hereto and hereby undertakes and agrees to immediately deliver or cause to be
delivered to the Escrow Agent any share certificates or other evidence of these
Subject Securities which it has or may later receive. If UUL receives any other
securities (“Additional Subject
Securities”):

         

        
          	
                   
      

                	
                  (a)

                	
                  as
      a dividend or other distribution on the Subject
  Securities;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  on
      the exercise of a right of purchase, conversion or exchange attaching to
      the Subject Securities;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  on
      a subdivision or compulsory or automatic conversion or exchange of the
      Subject Securities; or

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  from
      a successor issuer in a business
combination;

                

        

         

        UUL will
deliver or cause to be delivered to the Escrow Agent any share certificates or
other evidence of Additional Subject Securities. For greater certainty, where
this Agreement refers to Subject Securities, it includes the Additional Subject
Securities.

         

        2.           During
the period in which the Subject Securities are held in escrow pursuant to the
terms hereof, the certificates representing the Subject Securities (including
any replacement securities or certificates) shall remain registered in the name
of UUL or any successor to UUL.

         

        3.           The
parties hereby agree that the Subject Securities and the beneficial ownership of
or any interest in them and the certificates representing them (including any
replacement securities or certificates) shall not be sold, assigned,
hypothecated, alienated, redeemed or retracted, released from escrow,
transferred within escrow, or otherwise dealt with in any manner, except in
accordance with the Release Schedule contained in paragraph 4 and according to a
Written Direction received by the Escrow Agent pursuant to paragraph
5.

         

        4.           The
parties hereby agree that the Subject Securities shall be released to UUL by the
Escrow Agent in accordance with the following schedule (the “Release
Schedule”):

         

        

        
          
            
               
50612059.9    

            

            
              C-2

              
                

              

            

            
               

            

          

        

        

        
          
            
              
                
                  
                    	
                            Release Dates

                          	
                            Total
      Number of Crosshair Shares to be Released

                             

                          	
                            Total
      Number of Crosshair Warrants to be Released

                          
	
                            3
      months following the Effective Date

                          	
                            1,428,000

                          	
                            1,071,000

                          
	
                            6
      months following the Effective Date

                          	
                            1,428,000

                          	
                            1,071,000

                          
	
                            9
      months following the Effective Date

                          	
                            1,428,000

                          	
                            1,071,000

                          
	
                            12
      months following the Effective Date

                          	
                            1,429,000

                          	
                            1,071,000

                          
	
                            15
      months following the Effective Date

                          	
                            1,429,000

                          	
                            1,071,000

                          
	
                            18
      months following the Effective Date

                          	
                            1,429,000

                          	
                            1,071,000

                          
	
                            24
      months following the Effective Date

                          	
                            1,429,000

                          	
                            1,074,000

                          
	
                            TOTAL

                          	
                            10,000,000

                          	
                            7,500,000

                          

                  

                

              

            

          

        

         

         

        5.           Notwithstanding
paragraph 2 and the Release Schedule contained in paragraph 3, the total number
of Subject Securities then subject to the escrow (the “Remaining Subject Securities”)
shall be released upon receipt by the Escrow Agent of a joint written direction
(a “Written Direction”)
signed by an authorized officer of Crosshair and an authorized officer of UUL
confirming that UUL has entered into a distribution arrangement with its
shareholders with respect to the Remaining Subject Securities and irrevocably
authorizing the Escrow Agent to release the Remaining Subject Securities in
accordance with the terms of the Written Direction.

         

        6.           The
Escrow Agent will send to each security holder any share certificates or other
evidence of that security holder’s Subject Securities in the possession of the
Escrow Agent released from escrow as soon as reasonably practicable after the
release.

         

        7.           The
Escrow Agent will not be responsible or liable in any manner whatsoever for the
sufficiency, correctness, genuineness or validity of any Subject Security
deposited with it.

         

        8.           The
Escrow Agent is authorized to cancel any share certificate delivered to it and
hold such security holder’s Subject Securities in electronic or uncertificated
form only, pending release of such securities from escrow.

         

        9.           The
Escrow Agent will have no responsibility with respect to any Subject Securities
in respect of which no share certificate or other evidence of electronic or
uncertificated form of these securities has been delivered to it or otherwise
received by it.

         

        10.           The
Escrow Agent hereby accepts the duties placed on it hereby and the Subject
Securities and any share certificates or other evidence of these securities,
solely as custodian, bailee and agent. No trust is intended to be, or is or will
be created hereby and the Escrow Agent shall owe no duties hereunder as
trustee.

         

        11.           UUL
and Crosshair hereby jointly and severally agree to indemnify and hold harmless
the Escrow Agent, its affiliates and their current and former directors,
officers, employees and agents from and against all claims, demands, losses,
penalties, costs, expenses, fees and liabilities, including, without limitation,
legal fees and expenses, directly or indirectly arising out of, or in connection
with, or in respect of, this Agreement, except where the same result
directly

         

        

        
          
            
               
50612059.9   

            

            
              C-3

              
                

              

            

            
               

            

          

        

        

        and
principally from gross negligence, willful misconduct or bad faith on the part
of the Escrow Agent. This indemnity survives the release of the Subject
Securities, the resignation or termination of the Escrow Agent and the
termination of this Agreement.

         

        12.           The
Escrow Agent may consult or retain such legal counsel and advisors as it may
reasonably require for the purpose of discharging its duties or determining its
rights under this Agreement and may rely and act upon the advice of such counsel
or advisor. The Escrow Agent will give written notice to the parties as soon as
practicable that it has retained legal counsel or other advisors.

         

        13.           In
the event of any disagreement arising under the terms of this Agreement, the
Escrow Agent will be entitled, at its option, to refuse to comply with any and
all demands whatsoever until the dispute is settled either by a written
agreement among the parties or by a court of competent
jurisdiction.

         

        14.           If
the Escrow Agent should wish to resign, it shall give written notice to
Crosshair. Should Crosshair wish to terminate the Escrow Agent, it will give
written notice to the Escrow Agent. If the Escrow Agent resigns or is
terminated, Crosshair will be responsible for ensuring that the Escrow Agent is
replaced not later than the resignation or termination date by another escrow
agent that is acceptable to securities regulators having jurisdiction in the
matter and that has accepted such appointment, which appointment will be binding
on Crosshair and UUL. The resignation or termination of the Escrow Agent will be
effective, and the Escrow Agent will cease to be bound by this Agreement, on the
date that is 30 days after the date of receipt of the notices referred to above
by the Escrow Agent or Crosshair, as applicable, or such other
date  which the Escrow Agent and Crosshair may agree upon, provided
that the resignation or termination date shall not be less than 10 business days
before a release date.

         

        15.           
If Crosshair has not appointed a successor escrow agent within 30 days of the
resignation or termination date, the Escrow Agent will apply, at Crosshair’s
expense, to a court of competent jurisdiction for the appointment of a successor
escrow agent and the duties and responsibilities of the Escrow Agent will cease
immediately upon such appointment. The new escrow agent shall assume and be
bound by the obligations of the Escrow Agent hereunder.

         

        16.           The
Escrow Agent shall not be liable for having acted in good faith upon any written
direction, notice, request, waiver, consent, receipt or other paper or documents
furnished in writing to the Escrow Agent by UUL or Crosshair or any other
person, firm or corporation that shall be legally entitled to deal with or
become the registered owner of the Subject Securities and purportedly signed by
UUL or Crosshair or such other person, firm or corporation, as shall
respectively be the case.

         

        17.           The
Escrow Agent will not be liable to any of the parties hereunder for any action
taken or omitted to be taken by it under or in connection with this Agreement,
except for losses directly, principally and immediately caused by its bad faith,
willful misconduct or gross negligence. Under no circumstances will the Escrow
Agent be liable for any special, indirect, incidental, consequential, exemplary,
aggravated or punitive losses or damages hereunder, including any loss of
profits, whether foreseeable or unforeseeable. Notwithstanding the foregoing or
any other provision of this Agreement, in no event will the collective liability
of the

         

        

        
          
            
               
50612059.9   

            

            
              C-4

              
                

              

            

            
               

            

          

        

        

        Escrow
Agent under or in connection with this Agreement to any one or more parties,
except for losses directly caused by its bad faith, willful misconduct or gross
negligence, exceed the amount of its annual fees under this Agreement or the
amount of three thousand dollars ($3,000.00), whichever amount shall be
greater.

         

        18.           The parties will pay the
Escrow Agent reasonable remuneration for its services under this Agreement,
which fees are subject to revision from time to time on 30 days' written
notice.  The parties
will reimburse the Escrow Agent for its expenses and disbursements. Any
amount due under this section and unpaid 30 days after request for such payment,
will bear interest from the expiration of such period at a rate per annum equal
to the then current rate charged by the Escrow Agent, payable on
demand.

         

        19.           The
Escrow Agent shall have no duties except those which are expressly herein set
forth and shall not be bound by any notice, claim or demand with respect thereto
or waiver, modification, amendment, termination or rescission of this Agreement
unless received and agreed upon in writing by the Escrow Agent.

         

        20.           Any
notice, direction or other instrument required or permitted to be given under
this Agreement will be in writing and may be given by the delivery of the same
or by mailing the same by prepaid registered or certified mail or by sending the
same by telegram, telex, telecommunication, facsimile or other similar form of
communication, in each case addressed as follows:

         

        
          	
                   
      

                	
                  (a)

                	
                  If
      to UUL at:

                

        

         

        Suite
600-595 Howe Street

        Vancouver,
British Columbia,

        V6C
2T5

        

        Attention:
Ron Atlas

        Facsimile
No.: 604-662-3904

        

        
          	
                   
      

                	
                  (b)

                	
                  If
      to Crosshair at:

                

        

         

        Suite
1240 - 1140 West Pender Street,

        Vancouver,
BC

        V6E
4G1

        

        Attention:  Mark
J. Morabito

        Facsimile
No.: 604 681-8039

         

        
          	
                   
      

                	
                  (c)

                	
                  If
      the Escrow Agent at:

                

        

         

        3rd Floor-
510 Burrard Street,

        Vancouver,
BC

        V6C
3B9

      

       

      
        

        
          
            
               
50612059.9   

            

            
              C-5

              
                

              

            

            
               

            

          

        

        

        

        Attention:  General
Manager, Client Services

        Facsimile
No.: 604 661-9401

         

        21.           Wherever
the singular is used throughout this Agreement, the same shall be construed as
being the plural where the context so requires.

         

        22.           This
Agreement shall enure to the benefit of and be binding upon the Parties hereto
and each of their respective successors and assigns.

         

        23.           This
Agreement shall be governed by and construed in accordance with the laws of the
Province of British Columbia and the laws of Canada applicable
therein.

         

        24.           This
Agreement may be executed in several counterparts in the same form and such
counterparts as so executed shall together form one original agreement, and such
counterparts, if more than one, shall be read together and construed as if all
the signing parties hereto had executed one copy of this Agreement.

         

         

        IN WITNESS WHEREOF the parties
hereto have executed this agreement as of the day and year first above
written.

         

        
          
            
              
                
                  
                    
                      	 
      
	
                              UNIVERSAL
      URANIUM LTD.

                            
	 
      
	 
      
	
                              By:             

                            
	
                              Name:                                                                

                            
	
                              Title:   

                                                                                           

                            
	
                              COMPUTERSHARE
      INVESTOR SERVICES INC.

                               

                            
	
                              By:
                 

                            
	
                              Authorized Signatory

                               

                            
	
                              By:
                 

                            
	
                              Authorized Signatory

                               

                            
	
                              CROSSHAIR
      MINING & EXPLORATION CORP.

                               

                            
	
                              By:             

                            
	
                              Name:

                            
	
                              Title:

                            

                    

                  

                

              

            

          

        

        

         

        
 

        
          
            
               
50612059.9   

            

            
              C-6

              
                

              

            

            
               

            

          

        

        

        EXHIBIT
“A”

         

        DESCRIPTION
OF SUBJECT SECURITIES

         

         

        
          
            
              
                
                  	
                          Crosshair
      Shares

                           

                        
	
                          Number
      of

                          Crosshair
      Shares

                        	
                          Certificate

                          Number

                        
	
                          10,000,000

                        	
                          
                            [·]

                          

                        

                

              

            

          

        

         

         

         

         

        
          
            
              
                	
                        Crosshair
      Warrants

                         

                      
	
                        Number
      of

                        Crosshair Warrants

                      	
                        Certificate

                        Number

                      
	
                        1,071,000

                      	
                        1

                      
	
                        1,071,000

                      	
                        2

                      
	
                        1,071,000

                      	
                        3

                      
	
                        1,071,000

                      	
                        4

                      
	
                        1,071,000

                      	
                        5

                      
	
                        1,071,000

                      	
                        6

                      
	
                        1,074,000

                      	
                        7

                      

              

            

          

         

        

        
          
            
              50612059.9     

            

            
              C-7

              
                

              

            

            
               

            

          

        

        

        SCHEDULE
“D” TO THE  PURCHASE AND SALE AGREEMENT

        

        Attached
to and forming part of the agreement between Crosshair Exploration & Mining
Corp. and Universal Uranium Ltd. dated July [●], 2008

        

        VOTING
TRUST AGREEMENT

        

        THIS
AGREEMENT made effective as of July ___, 2008 (the “Effective Date”)

        

        
          	 
      	 
      
	
                  BETWEEN:

                	 
      
	 
      	
                  CROSSHAIR EXPLORATION &
      MINING CORP., a corporation existing under the laws of British
      Columbia, having its head office at Suite 1240- 1140 West Pender Street,
      Vancouver, B.C., V6E 4G1

                   

                
	 
      	
                  (“Crosshair”)

                   

                   

                
	
                  AND:

                	 
      
	 
      	
                  UNIVERSAL URANIUM LTD.,
      a corporation existing under the laws of British Columbia, having its head
      office at Suite 600-595 Howe Street, Vancouver, British Columbia, V6C
      2T5

                   

                
	 
      	
                  (“UUL”)

                

        

        

        WHEREAS Crosshair has entered
into a purchase and sale agreement (the “Purchase Agreement”) dated for
reference July ____, 2008 with UUL, pursuant to which Crosshair will acquire all
UUL’s Interest in certain Claims as well as UUL’s rights and obligations under
the PAA, and in consideration Crosshair will issue common shares and common
share purchase warrants to UUL (the “Securities”);

        

        AND WHEREAS pursuant to the
terms of the Purchase Agreement, UUL has agreed that the Securities shall be
subject to an escrow and released to UUL pursuant to the terms of an Escrow
Agreement entered into between the parties;

        

        AND WHEREAS the parties have
agreed that all common shares subject to the Escrow Agreement and not yet
released to UUL pursuant to the terms thereof (the “Subject Securities”) shall
also be subject to a voting trust;

        

        AND WHEREAS it is a condition
to the closing of the transactions contemplated in the Purchase Agreement that
UUL execute this voting trust agreement (the “Voting Trust”).

        

        NOW, THEREFORE, in consideration of the
foregoing and the mutual promises, representations, warranties, covenants and
agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto,
intending to be legally bound, hereby covenant and agree as
follows:

         

        
 

        
          
            
               
50612059.9     

            

            
              D-1

              
                

              

            

            
               

            

          

        

        

        

        

        1.           Definitions.  All
capitalized terms not otherwise defined herein shall have the meanings ascribed
to them in the Purchase Agreement.

         

        2.           Term of Voting
Trust.  This Voting Trust will be effective as of the date
hereof and will terminate on the Termination Date. As used herein, the term
“Termination Date” shall
mean the date upon which none of the Subject Securities are subject to the
Escrow Agreement.

         

        3.           Agreement to Vote the
Subject Securities.  Until the Termination Date, at every
meeting of the shareholders of Crosshair called with respect to any matter
brought before the shareholders of Crosshair by management for their
consideration and approval, and at every adjournment or postponement thereof,
and on every action or approval by written consent of the shareholders of
Crosshair with respect to any matter brought to the shareholders of Crosshair
for their consideration and approval, UUL 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.

         

        Prior to
the Termination Date, UUL shall not enter into any agreement or understanding
with any person to vote or otherwise give instructions in any manner
inconsistent with this Section 3.

        

        4.           Irrevocable
Proxy.  Subject to the terms hereof relating to the Termination
Date, at the request of Crosshair, UUL agrees to deliver to Crosshair an
irrevocable proxy addressing the matters in Section 3 hereof, which shall be
irrevocable to the fullest extent permitted by applicable law, covering the
total number of Subject Securities.

         

        5.           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 Crosshair, or in the event of the conversion of the Subject
Securities or upon the amalgamation, merger, arrangement, or other corporate
combination of Crosshair with any other corporation or corporations, or the
division of Crosshair into two or more entities, any voting securities received
by UUL 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.

         

        6.           Additional
Documents.  UUL 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.

         

        7.           Miscellaneous.

         

        (a)           Effective Date.
Notwithstanding the date of execution and delivery of this Voting Trust, this
Voting Trust shall be effective only from and after the Effective
Date.

         

        (b)           Severability. If any
term, provision, covenant or restriction of this Voting Trust is held by a court
of competent jurisdiction to be invalid, void or unenforceable, then
the

         

         

        
 

        
          
            
               
50612059.9     

            

            
              D-2

              
                

              

            

            
               

            

          

        

        

        remainder
of the terms, provisions, covenants and restrictions of this Voting Trust shall
remain in full force and effect and shall in no way be affected, unpaired or
invalidated.

         

        (c)           Remedies. UUL
acknowledges that a breach by it of any of the covenants contained in this
Voting Trust would result in damages to Crosshair and that Crosshair may not be
adequately compensated for such damages by monetary award
alone.  Accordingly, UUL agrees that in the event of any such breach,
in addition to any other remedies available at law or otherwise, Crosshair shall
be entitled as a matter of right to apply to a court of competent jurisdiction
for relief by way of injunction, restraining order, decree or otherwise as may
be appropriate to ensure compliance by UUL with the provisions of this Voting
Trust.  Any remedy expressly set out in this Voting Trust shall be in
addition to and not inclusive of or dependent upon the exercise of any other
remedy available at law or otherwise.

         

        (d)           Amendments and
Modification.  This Voting Trust may not be modified, amended,
altered or supplemented except by the execution and delivery of a written
agreement executed by the parties hereto. All such amendments or modifications
will be subject to all applicable regulatory requirements.

         

        (e)           Waiver. No waiver by
any party hereto of any condition or of any breach of any provision of this
Voting Trust shall be effective unless in writing.

         

        (f)           Governing Law. This
Voting Trust shall be governed by and construed in accordance with the laws of
the British Columbia, without giving effect to principles governing conflicts of
laws.

         

        (g)           Permitted
Assigns.  This agreement will enure to the benefit of and be
binding upon the parties hereto and upon their respective successors, permitted
assigns and other legal representatives.

         

        (h)           Counterparts.  This
Voting Trust may be executed in several counterparts, each of which shall be an
original, but all of which together shall constitute one and the same
agreement.

         

        (i)           Effect of Headings.
The section headings herein are for convenience only and shall not affect the
construction or interpretation of this Voting Trust.

         

        

        IN
WITNESS WHEREOF, the undersigned have executed this Voting Trust on the date
first written above.

        

        CROSSHAIR
EXPLORATION & MINING CORP.

         

        
          
            	 
      	 
      
	
                    By:

                  	
                     _______________________

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

        

         

        
 

        
          
            50612059.9     

          

          
            D-3

            
              

            

          

          
            
            

          

        

         

         

        UNIVERSAL
URANIUM LTD.

        

        
          
            	 
      	 
      
	
                    By:

                  	
                    ________________________

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

        

        

        

        

        
          
            
               
50612059.9     

            

            
              D-4

              
                

              

            

            
               

            

          

        

        

        SCHEDULE “E” TO THE PURCHASE
AND SALE AGREEMENT

         

        Attached
to and forming part of the agreement between Crosshair Mining & Exploration
Corp. and Universal Uranium Ltd. dated July [●], 2008

         

        DEFINITION,
CALCULATION AND PAYMENT OF NSR ROYALTY

         

        1.           Definitions

         

        Unless
otherwise set forth below, all capitalized terms used in this Schedule shall
have the meaning ascribed to them in the purchase and sale agreement between
Crosshair Exploration & Mining Corp. and Universal Uranium Ltd. dated July
___, 2008 (the “Purchase
Agreement”).

         

        “Calendar Quarter” means each
three-month period ending March 31st, June 30th, September 30th and December
31st of each calendar year.

         

        “Interest” means the 60%
interest in the Claims acquired by the Payor pursuant to the terms of the
Purchase Agreement, excluding the Royalty.

         

        “Mineral Price Quotation” for a
Product means the final sale price as quoted for the Product on the London
Metals Exchange, as published in Metals Week or a similar
publication. If publication of the final quotation on the London Metals Exchange
shall be discontinued, the parties shall select a comparable commodity quotation
for purposes of calculating the Net Smelter Returns. If such selection has not
been completed prior to the end of the calendar month following the month in
which the quotation is discontinued, the average quotation for the calendar
month in which the quotation is discontinued shall be used on an interim basis
pending such selection.

         

        “Net Smelter Returns” for a
Calendar Quarter in respect of all of the Products means (i) the Smelter Returns
for each Calendar Quarter for all of the Products; less (ii) the deductions,
adjustments and credits set forth in Section 3.

         

        “Net Smelter Returns Royalty”
means 2% of Net Smelter Returns.

         

        “Net Smelter Returns Royalty
Interest” means the Net Smelter Return Royalty reserved by the Royalty
Holder with respect to ores mined from the Claims.

         

        “Payor” means Crosshair
Exploration & Mining Corp. and its successors and permitted
assigns.

         

        “Products” means ores mined
from the Claims and any concentrates or other materials or products derived
therefrom, including without limitation, uranium oxide, whether in solid form or
in solution.

         

        “Royalty Holder” means
Universal Uranium Ltd. and its successors and permitted assigns.

         

        “Smelter Returns” for a
Calendar Quarter in respect of all of the Products means, for each of the
Products, the average Mineral Price Quotation for the Product for a Calendar
Quarter multiplied by the total number of appropriate units of measurement of
the Product beneficiated

         

         

        

        
          
            
               
50612059.9     

            

            
              E-1

              
                

              

            

            
               

            

          

        

        

        by the
Payor or credited by the smelter, refiner or other bona fide purchaser to the
Payor during that Calendar Quarter.

         

        “Subject Ore” means the ore
mined by the Payor from the Claims.

         

        2.           Reservation
Of Royalty

         

        The Payor
acknowledges that the Royalty Holder has reserved to itself the Net Smelter
Returns Royalty Interest.  The Payor shall pay and the Royalty Holder
shall be entitled to receive payments of the Net Smelter Returns
Royalty.

         

        3.           NSR
Deductions

         

        In
calculating the Net Smelter Returns Royalty, the Payor shall be entitled to
deduct from Smelter Returns the following costs, to the extent incurred and
borne by the Payor:

         

        
          	
                   
      

                	
                  (a)

                	
                  any
      smelter and/or refining charges;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  government
      imposed production and ad valorem taxes (excluding taxes on
      income);

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  treatment
      charges, penalties and any and all charges made by the purchaser of the
      Products;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  any
      and all transportation and insurance costs which may be incurred in
      connection with the transportation of the Products from the Claims or from
      a concentrator, whether situated on or off the Claims, to a smelter,
      refinery or other place of treatment;
and

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  all
      umpire charges on the Products.

                

        

         

        4.           General
Provisions

         

        
          	
                   
      

                	
                  (a)

                	
                  Arm’s
      Length Provision

                

        

         

        If
smelting, refining and/or treatment are carried out in facilities owned or
controlled by the Payor, charges, costs and penalties for such operations,
including transportation to such facilities, shall mean the amount that the
Payor would have incurred if such operations were carried out at facilities not
owned or controlled by the Payor then offering similar custom services for
comparable products on prevailing terms.

         

        
          	
                   
      

                	
                  (b)

                	
                  Payment
      of the Net Smelter Returns Royalty

                

        

         

        All
royalty or provisional royalty payments will be payable on or before the 30th
day following each Calendar Quarter. Each such quarterly payment to the Royalty
Holder shall be accompanied by a statement in reasonable detail showing the
calculation of the payment. Each such quarterly payment shall be

         

         

        

        
          
            
              50612059.9       

            

            
              E-2

              
                

              

            

            
               

            

          

        

        

        subject
to adjustment as provided below in the next quarterly payment or when the final
report for the year is issued as specified below.

         

        
          	
                   
      

                	
                  (c)

                	
                  Provisional
      Payments

                

        

         

        If any
payment becomes due and payable to the Royalty Holder prior to the Payor’s final
estimate of the total amount payable, then the Payor shall pay the Royalty
Holder a provisional royalty payment using the Payor’s then current estimate of
the amount payable for Products produced during the Calendar
Quarter.

         

        
          	
                   
      

                	
                  (d)

                	
                  Adjustments

                

        

         

        The
following adjustments shall be taken into account in determining the royalty
payments or provisional royalty payments and shall be specified in a statement
which will accompany each payment:

         

        
          	
                   
      

                	
                  (i)

                	
                  Any
      adjustments to charges, costs, deductions or expenses imposed upon or
      given to the Payor but not taken into account in determining previous
      royalty payments;

                

        

        
           

          
            	
                     
      

                  	
                    (ii)

                  	
                    

                      Any
      adjustments in the number of appropriate units of measurement of Products,
      beneficiated by the Payor, or previously credited to the Payor by a
      smelter, refiner or bona fide purchaser of Products shipped or sold by the
      Payor;

                    

                  

          

          
             

            
              	
                       
      

                    	
                      (iii)

                    	
                      

                        Any
      adjustments in mineral content and average percentage recovery;
      and

                      

                    

            

            
               

              
                	
                         
      

                      	
                        (iv)

                      	
                        

                          Any
      payments that have not otherwise been credited against previous royalty
      payments.

                        

                      

              

               

            

          

        

        
          	
                   
      

                	
                  (e)

                	
                  Practices
      and Procedures

                

        

         

        The Owner
shall ensure that reasonable practices and procedures are adopted and employed
for weighing, determining moisture content, sampling and assaying and for
determining recovery factors.

         

        
          	
                   
      

                	
                  (f)

                	
                  Annual
      Final Report

                

        

         

        Within 90
days after the end of each calendar year, the Payor shall deliver or cause to be
delivered to the Royalty Holder a final report for the year certified as being
accurate by a responsible officer of the Payor showing in reasonable detail the
calculation of the royalty due the Royalty Holder for the prior year and all
adjustments to the quarterly or other periodic reports and payments for the
year. With such final report, the Payor shall, if applicable, make such
additional royalty payment as is required by the report. If such report
indicates that the Royalty Holder has received more than it should have been
paid in respect of the royalty due to the Royalty Holder, then the excess shall
be deducted from the

         

         

        

        
          
            
              50612059.9       

            

            
              E-3

              
                

              

            

            
               

            

          

        

        

        next
payment obligation owed pursuant to the provisions of this Schedule or, in the
event of a temporary or permanent cessation of production, the Royalty Holder
shall repay the excess within 15 days of the annual report.

         

        
          	
                   
      

                	
                  (g)

                	
                  Audit
      Right

                

        

         

        All
royalty payments shall  be considered final and in full satisfaction
of all obligations of the Payor with respect thereto, unless the Royalty Holder
gives the Payor written notice describing and setting forth a specific objection
to the calculation thereof within twelve (12) months after receipt by the
Royalty Holder of the calculation herein provided for.  If the Royalty
Holder objects to a calculation as herein provided, the Royalty Holder shall,
for a period of thirty (30) days after the Payor’s receipt of written notice of
such objection, have the right, upon reasonable notice and at a reasonable time,
to have the Payor’s accounts and records relating to the calculation of Net
Smelter Returns audited by a chartered accountant acceptable to the Royalty
Holder and to the Payor.  If such audit determines that there has been
a deficiency or an excess in the payment made to the Royalty Holder such
deficiency or excess shall be resolved by adjusting the next quarterly Net
Smelter Returns Royalty payment due hereunder.  The Royalty Holder
shall pay all costs of such audit unless a deficiency of more than ten percent
(10%) of the amount is determined to exist.  The Payor shall pay the
cost of such audit if a deficiency of more than ten percent (10%) of the amount
due is determined to exist.  Failure on the part of the Royalty Holder
to make claim on the Payor for adjustment in such twelve (12) month period shall
establish the correctness and preclude the filing of exceptions thereto or
making of claims for adjustments thereon.

         

        
          	
                   
      

                	
                  (h)

                	
                  Assignment
      by Payor

                

        

         

        Upon any
assignment, conveyance, termination or abandonment of the Interest or any
portion thereof, as the case may be, by the Payor, the Payor shall have no
further obligation to the Royalty Holder in respect of the Interest or such
portion, as the case may be; provided that, in the case of assignment or
conveyance, it shall be a condition of any assignment or conveyance that the
assignee or transferee shall have agreed to assume the Payor’s obligation to the
Royalty Holder to pay the Net Smelter Returns Royalty in respect of that portion
of the Interest acquired by such assignee or transferee.

         

        
          	
                   
      

                	
                  (i)

                	
                  Assignment
      by Royalty Holder

                

        

         

        Notwithstanding
anything to the contrary herein contained, if any part of the right to receive
the Net Smelter Returns Royalty is assigned by the Royalty Holder, it shall be a
condition of such assignment that the assignee agrees with the Payor and all
other parties entitled to receive any part of the Net Smelter Returns Royalty as
follows:

         

         

        
 

        
          
            
                 
50612059.9   

            

            
              E-4

              
                

              

            

            
               

            

          

        

        

        

        
           

          
            	
                     
      

                  	
                    (i)

                  	
                    

                      the
      amount of any Net Smelter Returns Royalty payable hereunder shall be
      settled only with the Royalty Holder or an authorized nominee (herein
      collectively called the “Nominee”) as designated by notice to the Payor
      (such notice to be executed by all parties entitled to receive any part of
      the Net Smelter Returns Royalty), and such settlement shall be final and
      binding upon all interested parties and the Payor shall not be required to
      make any accounting to any person save such
  Nominee;

                    

                  

          

           

        

        
          	
                   
      

                	
                  (ii)

                	
                  payment
      of the Net Smelter Returns Royalty shall be made only to or to the order
      of the Nominee “In Trust” and such payment shall constitute a full and
      complete discharge to the Payor and it shall have no obligation to see to
      the distribution of any such
payment;

                

        

        
           

          
            	
                     
      

                  	
                    (iii)

                  	
                    

                      the
      Payor may settle disputes arising hereunder with the Nominee and such
      settlement shall be final and binding upon all interested
      parties;

                    

                  

          

          
             

            
              	
                       
      

                    	
                      (iv)

                    	
                      

                        the
      Payor may rely upon any direction, advice or authorization signed by the
      Nominee and may act thereon as if the same was signed by all interested
      parties; and

                      

                    

            

             

          

        

        
          	
                   
      

                	
                  (v)

                	
                  the
      Payor shall not be required to deal with any person except the Nominee.
      Each interested party shall exercise all of their respective rights only
      through the Nominee and shall require each of their respective assignees
      to agree in writing to be bound by the provisions
  hereof.

                

        

         

        
          	
                   
      

                	
                  (j)

                	
                  Net
      Smelter Returns Royalty an Interest in
Land

                

        

         

        The Net
Smelter Returns Royalty shall comprise an interest in, run with, bind and touch
the mineral lands comprised in the Claims, including any renewal thereof and any
other form of successor or substitute title therefor, including for the sake of
certainty any mineral lease or mineral grant arising therefrom.

         

        
          	
                   
      

                	
                  (k)

                	
                  Nature
      of Net Smelter Returns Royalty

                

        

         

        
          The Payor
acknowledges and agrees that the Net Smelter Returns Royalty retained by the
Royalty Holder is a direct interest in the Claims and in the ores mined from the
Claims, provided that such interest shall be satisfied and shall be terminated
with respect to any such ore by payment of the amount of the Net Smelter Returns
relating thereto.  Notwithstanding that the Net Smelter Returns
Royalty is an interest in the Claims and the ores removed therefrom, the nature,
extent and timing of all work relating to the Claims and their exploration,
development or operation, including without limitation the timing for the
commencement, suspension or termination of any such work and the treatment and
disposition of any ore removed from the Claims, shall all be in the discretion
of the Payor.

        

         

        
          	
                   
      

                	
                  (l)

                	
                  Purchase
      of Net Smelter Returns Royalty

                

        

         

         

        

        
          
            
               
50612059.9     

            

            
              E-5

              
                

              

            

            
               

            

          

        

        

         

        

        The Payor
may at any time purchase 25% of the Net Smelter Returns Royalty pursuant to the
terms of the Purchase Agreement, thereby reducing the Net Smelter Returns
Royalty from a 2.0% royalty to a 1.5% royalty.

         

        

        

        
          
            
               
50612059.9     

            

            
              E-6

              
                

              

            

            
               

            

          

        

        

        SCHEDULE
“F” TO THE PURCHASE AND SALE AGREEMENT

         

        Attached to and forming part
of the agreement between Crosshair Exploration & Mining Corp. and Universal
Uranium Ltd. dated July [●], 2008

         

        ASSIGNMENT
AND ASSUMPTION AGREEMENT

         

        This
Agreement dated for reference July ___, 2008 (the “Effective Date”)

         

        
          

          
            
              
                
                  
                    
                      	 
      	 
      
	
                              BETWEEN:

                            	 
      
	 
      	
                              UNIVERSAL URANIUM LTD., a corporation existing under the laws of
      British Columbia, having its head office at Suite 600-595 Howe Street,
      Vancouver, British Columbia, V6C 2T5

                               

                            
	 
      	
                              (the
      “Assignor”)

                               

                            
	 	
                               OF THE FIRST
      PART

                            
	 	
                               -
      and -

                            
	
                               

                            	 
      
	 
      	
                              CROSSHAIR MINING &
      EXPLORATION CORP., a corporation
      existing under the laws of British Columbia, having its head office at
      Suite 1240-1140 West Pender Street, Vancouver, British Columbia, V6E
      4G1

                               

                            
	 
      	
                              (the
      “Assignee”)

                            
	 	 OF THE SECOND
    PART

                    

                  

                

              

            

          

           

        

         

        WHEREAS the Assignor is a
party to a property acquisition agreement dated January 23, 2006 between
the Assignor and Silver Spruce Resources Inc. (“Silver Spruce”) (the “PAA”);

         

        AND WHEREAS the Assignor and
the Assignee entered into an agreement dated the date hereof whereby the
Assignee agreed to assign and the Assignor agreed to assume all of the
Assignor’s rights and obligations under the PAA.

         

        NOW THEREFORE THIS AGREEMENT
WITNESSETH that in consideration of the covenants, agreements, warrants
and payments herein contained and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged by each of the parties
hereto, the parties hereto do hereby covenant and agree as follows:

         

        
          	
                  1.

                	
                  Assignment.  The
      Assignor hereby absolutely assigns, transfers and sets over to the
      Assignee, its successors and assigns, the Assignor’s rights, interests,
      benefits, duties and obligations in and relating to the PAA as of the
      Effective Date.

                

        

         

        
          	
                  2.

                	
                  Assumption.  The
      Assignee hereby agrees to accept the assignment herein provided and to
      assume as of the Effective Date, and thereupon and thereafter to be bound
      by and

                

        

         

         

         

        
          
             
50612059.9   

          

          
            F-1

            
              

            

          

          
            
            

          

        

         

        
           

          
            	
                     

                  	
                    observe,
      carry out, perform and fulfil all of the covenants, conditions,
      obligations and liabilities of the Assignor under the PAA, to the same
      extent and with the same force and effect as though the Assignee had been
      named an original party to the
PAA.

                  

          

        

         

        
          	
                  3.

                	
                  Third
      Parties.  In the event of any sale, assignment, transfer,
      pledge, hypothecation or disposition of any legal or equitable interest of
      any nature or kind whatsoever by the Assignee of any interest in the
      Property (as such term is defined in the PAA) to a party other than Silver
      Spruce (a “Third Party
      Purchaser”), the Assignee
shall:

                

        

         

        
          	
                   
      

                	
                  (a)

                	
                  furnish
      to the Third Party Purchaser a true copy of the
  PAA;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  procure
      the Third Party Purchaser’s written novation agreement in favour of Silver
      Spruce that the Third Party Purchaser shall be bound by the terms, rights,
      obligations and burdens of the PAA as if it were a party thereto in the
      place and stead of the Assignee;
and

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  ensure
      that in any agreement and deed of sale, assignment or disposition of any
      nature to a Third Party Purchaser a covenant to the same obligation and
      effect as this section 3 which would oblige the Third Party Purchaser and
      its successors and assigns is contained therein and that any such
      agreement, deed of sale, assignment or disposition is registered at the
      public registries in which it is required or customary to register mining
      agreements pertaining to land.

                

        

         

        
          	
                  4.

                	
                  Further
      Assurances.  The
      Assignor shall from time to time and at all times hereafter, promptly
      execute and deliver or cause to be executed and delivered all such further
      documents, deeds, assurances and instruments and shall do or cause to be
      done all such further acts and things as may be reasonably required by the
      Assignee to give effect to this
Agreement.

                

        

         

        
          	
                  5.

                	
                  Counterparts.  This
      Agreement may be executed in several counterparts, each of which so
      executed shall be deemed to be an original and such counterparts together
      shall be but one and the same
instrument.

                

        

         

        
          	
                  7.

                	
                  Enurement.  This
      Agreement shall enure to the benefit of and be binding upon the parties
      and their respective successors and permitted
  assigns.

                

        

         

        
          	
                  8.

                	
                  Headings
      for Convenience Only.  The
      division of this Agreement into articles and sections is for convenience
      of reference only and shall not affect the interpretation or construction
      of this Agreement.

                

        

         

        
          	
                  9.

                	
                  Governing
      Law.  This
      Agreement shall be governed by and construed in accordance with the laws
      of the Province of British Columbia and the federal laws of Canada
      applicable therein and each of the parties agrees irrevocably to attorn to
      the non-exclusive jurisdiction of the Courts of the Province of British
      Columbia.

                

        

         

        
          	
                  10.

                	
                  Gender.  In this
      Agreement, words importing the singular number shall include the plural
      and vice versa, and words importing the use of any gender shall include
      the masculine, feminine and neuter
genders.

                

        

         

         

         

        
          
             
50612059.9   

          

          
            F-2

            
              

            

          

          
            
            

          

        

         

        
          	
                  11.

                	
                  Transmission
      by Facsimile.  The parties
      agree that this Agreement may be transmitted by facsimile or such similar
      device and that the reproduction of signatures by facsimile or such
      similar device will be treated as binding as if originals and each party
      undertakes to provide the other party with a copy of the Agreement bearing
      original signatures forthwith upon
demand.

                

        

         

         

        IN WITNESS WHEREOF the parties
have duly executed this Assignment and Assumption Agreement on July ___,
2008.

         

        
          

          
            
              
                
                  	
                          UNIVERSAL URANIUM
      LTD.  

                           

                        
	
                          Per:
      ________________________

                           

                        
	
                          Name:

                        
	
                          Title:

                        

                

              

            

          

           

        

        
           

          
            
              
                	
                        CROSSHAIR EXPLORATION &
      MINING CORP.

                         

                      
	
                        Per:
       _______________________

                         

                      
	
                        Name:

                      
	
                        Title:

                      

              

            

          

           

          
 

        

         

        
          
            
               
50612059.9     

            

            
              F-3

              
                

              

            

            
               

            

          

        

        

        SCHEDULE
“G” TO THE PURCHASE AND SALE AGREEMENT

         

        Attached to and forming part
of the agreement between Crosshair Exploration & Mining Corp. and Universal
Uranium Ltd. dated July [●], 2008

         

        [SETTLEMENT
AND RELEASE AGREEMENT]

        
 

        
           

          

          
            
               

            

            
              G-1

              
                

              

            

            
               

            

          

        
          
 

           

          

          
            
               

            

            
              G-2

              
                

              

            

            
               

            

          

          

          
            
               

            

            
              G-3

              
                

              

            

            
               

            

          

        
          

            
              
                 

              

              
                G-4

                
                  

                

              

              
                 

              

            

            

            
              
                 

              

              
                -5

                
                  

                

              

              
                 

              

            

            

            
              
                 

              

              
                G-6

                
                  

                

              

              
                 

              

            

            

            
              
                 

              

              
                G-7

                
                  

                

              

              
                 

              

            

            

            
              
                 

              

              
                G-8

                
                  

                

              

              
                 

              

            

            

            

            
              
                 

              

              
                G-9

                
                  

                

              

              
                 

              

            

            

            
              
                 

              

              
                G-10

                
                  

                

              

              
                 

              

            

            

             

            
              
                 

              

              
                G-11

                
                  

                

              

              
                 

              

            

            

            
              
                 

              

              
                G-12

                
                  

                

              

              
                 

              

            

            SCHEDULE
“H” TO THE PURCHASE AND SALE AGREEMENT

            

            NOVATION
AGREEMENT

             

             

            
              

              
                
                   

                

                
                  H-1

                  
                    

                  

                

                
                   

                

              

              

              
                
                   

                

                
                  H-2

                  
                    

                  

                

                
                   

                

              

              

               

               

              H-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]