After a two month quiet period for our Canadian
spotlights, we are finally ready to put out a Company
that we have been watching for quite some time, as we
feel the time is right for this Company’s introduction.
This Company has strong long-term technical readings and
has great fundamental prospects as well. The Company at
the centre of our attention tonight is Crosshair
Exploration & Mining Corp. (TSX:CXX).

Crosshair is a dominant player in the exploration and
development of gold, uranium and vanadium in the US and
Canada. Crosshair continues to advance its gold projects
in Newfoundland and has a $3 million drilling and bulk
sampling program planned.

The Company’s Golden Promise project in Newfoundland,
Canada consists of a series of sub-parallel gold-bearing
quartz veins. The Property hosts the Jaclyn Zone, which
contains an NI 43-101 inferred resource estimate of
89,500 contained oz of gold (921,000 tonnes averaging
3.02 g Gold/t) at a 1 g/t Gold cutoff.

Five quartz vein zones characterized by coarse visible
gold have been discovered on the Golden Promise Project
to date. The Jaclyn Main Zone is the most advanced and
has been intersected over a minimum strike length of 800
metres (m) and to a depth of 265 m. The zone remains
open for expansion along strike and to depth.

Crosshair has a 60% interest in the Golden Promise,
South Golden Promise and Victoria Lake Projects, with
the option to earn an additional 10% interest in the
Golden Promise Project.

The Company’s Bootheel Project is located in uranium
mining friendly Wyoming and with its in-situ mining
potential and initial NI 43-101 uranium resource
estimate of 1.09 M lbs indicated and an additional 3.25
M lbs inferred, the project has exceeded the minimum
mining threshold and is designed for near term
production.

The Company aquired the 75% interest in the Bootheel and
Buck Point Uranium Properties from venture partner
Ur-Energy Inc. (TSX:URE). Both properties have uranium
mineralization that has the potential to be recovered by
in-situ recovery (ISR) methods.

Vanadium, which is already irreplaceable in several
industries including aerospace, aviation and
construction due to its unrivalled ability to strengthen
steel, has also become very important in the advancement
of battery technology and its use for connecting
large-scale power grids.

The future of Vanadium is bright, reports suggest that
high-strength low-alloy steel production has outpaced
crude steel production by 21.6% year over year since
2009, which bodes well for the element’s demand.

Also, the Vanadium-Redox battery is the only battery
with the potential for large-scale power grid usage, due
to its lifespan of tens of thousands of cycles, its
ability to be charged and discharged over and over, as
well as its ability to absorb or release large amounts
of electricity at a moment’s notice.

What is In-Situ Recovery (ISR) you might be wondering.
In-Situ is an environmentally-friendly process by which
uranium can be extracted from the ground with minimal
disturbance to the surface environment. It is much
cheaper than conventional mining techniques to extract
and the mine can go into production with as little as 5
million pounds in the ground. With in-situ recovery
methods, a mine can be constructed within as little as
18 months after being licensed and lower grade deposits
can also be developed.

At the end of 2008 there were four in-situ recovery
uranium mines operating in the United States, operated
by Cameco, Mestena and Uranium Resources Company, all
using sodium bicarbonate. ISR produces 90% of the
uranium mined in the US. Two more ISR projects are in
licensing and proposal stages in the US, and two in
reclamation in 2006.

Significant ISR mines are operating in Kazakhstan and
Australia. The Beverley uranium mine in Australia uses
in-situ recovery. ISR mining produces around 21% of the
world’s uranium production. An ISR processing plant
costs between US$10 million and US$35 million and can
produce between 1 and 2 million pounds of uranium per
year at an operating cost of ~ US$25/lb. On the other
hand, conventional mines cost between $US130 million to
$US150 million at an operating cost of ~ US$80/lb, but
can produce 5 to 8 million pounds per year.

Although more than 25% of uranium is produced through
ISR, only certain orebodies are suitable candidates for
this method. The deposits must be hosted in rock types
that are porous enough to allow water to be pumped
through it (e.g. sandstone) and located in area that
will not contaminate groundwater far away from the
orebody. However, the lower cost of extracting uranium
using the ISR method means lower grade deposits can be
developed. Average grades of sandstone-hosted deposits
range from 0.05% to 0.40% U3O8. The possibility of ISR
methods for Crosshair are huge, as they can mean big
savings for the Company, lower environmental concerns
and quicker recovery times for their Wyoming Uranium
projects.

The Company’s CMB Uranium/Vanadium Project is located in
Labrador, Canada and has four currently defined
resources – C Zone, Area 1, Armstrong and Two Time Zone.
Crosshair’s 4.5 km long uranium mineralized corridor
includes C Zone to the north, Area 1 in the middle and
Armstrong to the south. All areas are open for
expansion. Crosshair has a 60% interest in this Project,
while Silver Spruce Resources maintains a 40% interest.
The Two Time Zone remains open for expansion.

This area has been putting out great results for the
Company as of late. The Company announced about two
weeks ago their widest vanadium intercept to date in
hole ML-182 from the ongoing vanadium program on the
Central Mineral Belt (CMB) Project in Labrador.

Highlights from recently assayed holes included 0.179%
V2O5 over 241m (from 30m to 271m) including 0.228% V2O5
over 20m (from 204m to 224m) in hole ML-182, and 0.331%
V2O5 over 14m (from 114m to 128m) including 0.428% V2O5
over 4m (from 118m to 122m) in hole ML-143.

The results were impressive which were enough to spike
up volume in the Company’s stock and take it up to $0.23
during the day’s after the release came out. This
Company has an impressive portfolio of projects that are
putting out great numbers, they have an experienced
management team and are in the business of mining for
two much needed resources, Vanadium and Uranium.

Vanadium is one of those rarely discussed elements, but
it is very vital to consumers. Vanadium is an essential
alloying element for steels and titanium, and its
chemical compounds are indispensable for many industrial
and domestic products and processes. About 87% of
vanadium is used in the high performance steel industry
and another 10% is used for titanium alloy production.
Vanadium has the ability to make both steel and titanium
alloys stronger and lighter, making vanadium
irreplaceable in aerospace, aviation, automotive,
shipping and construction.

Demand for vanadium is expected for grow at a compound
annual rate of 7.8% thorough to 2015, fuelled by
continuing strong world demand and tightening global
supply. Global production has been disrupted by power
shortages in South Africa, one of the top three
producers of vanadium, that look set to continue for a
number of years and which have lead to the cancellation
of some growth projects.

Investors are encouraged to read more about Vanadium and
Uranium located lower on the AllPennyStocks.com profile
page for Crosshair Exploration & Mining Corp. (TSX:CXX).

Looking at the stock from a technical perspective, the
10 period vs the 50 period EMA is riding side by side,
and most technical indicators are indicating that the
stock is currently in a non-trending mode, which makes
it difficult to discuss from a technical perspective. In
these cases, its best to focus on the Company’s strong
fundamental aspects and realize that the Company stock
value is off 95% since its all time high back in the
winter of 2006. Since that high in ’06, it seems as
though the 5 year low was experienced in the winter of
2008 when the stock briefly traded under $0.10. Since
then the stock has been on a slow but steady rise, up
over 150% since then. The long term technical trading
pattern is showing the ADX on a bullish trend for most
of 2009 and continuing. With the ADX trend line
continuing to go higher, this continues to validate the
long-term bull run that this stock is in the midst of.
So while short-term gains might be muted, the long-term
outlook for CXX is looking quite impressive.

Since the stock is currently in a short term
non-trending market, major price swings should not
occur, however stop losses are always recommended in
case the stock goes in the wrong direction. There seems
to be significant support at $0.19 and $0.20, so stop
losses in that price range would be recommended. As
always, these are only our interpretations of CXX’s
chart, we strive to give you all the information we can
and always encourage our investors to do their own due
diligence and consult with a financial advisor before
making any trading decisions.

The Company holds several impressive portfolio
properties, they have been getting excellent results
from these properties, they have a seasoned management
team and look as though they are coming off a multi-year
low and from a technical perspective are looking like a
longer-term diamond in the rough. For these reasons, we
decided to spotlight Crosshair Exploration & Mining
Corp. (TSX:CXX) as the latest Canadian Company
Spotlight.

As always, more
information on Crosshair Exploration & Mining Corp. (TSX:CXX)
can be found by going to the full CXX profile
at AllPennyStocks.com or
by
clicking here.