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Gold/Mining/Energy : Canadian Warrants Only -- Ignore unavailable to you. Want to Upgrade?

To: roymario who wrote (4404)	5/26/2008 3:46:53 AM
From: onepath	Respond to of 23102

Both CXX.WT and GEM fit bottom feeder criteria.GEM completely off the radar but with proven resources and CXX(and the warrant) mistakenly convicted by association. Crosshair says its lands are unaffected by moratorium 2008-04-09 07:14 ET - News Release Mr. Mark Morabito reports URANIUM MORATORIUM NOT APPLICABLE TO CROSSHAIR'S C ZONE RESOURCE AND ALL OTHER PRINCIPAL ASSETS The legislation recently passed by the Nunatsiavut government does not affect Crosshair Exploration & Mining Corp.'s principal assets. Legislation has been passed that places a three-year moratorium on uranium mining within the Nunatsiavut's self-governed Labrador Inuit lands (LIL). Crosshair wishes to remind the market and its shareholders that 92 per cent of Crosshair's property falls outside of LIL. In addition, all of the company's principal assets, including the 4.5-kilometre-long mineralized corridor that runs from C zone to Armstrong, fall outside of LIL and are therefore not impacted by this legislation. Although the moratorium does not apply to exploration activities, all of Crosshair's future efforts will be directed at continuing to advance the 92 per cent of Crosshair's property that does not fall within LIL. Drilling and exploration activities currently proposed will continue as planned. The 8 per cent of Crosshair's property that falls within LIL primarily comprises mineral claims that are in good standing under Newfoundland and Labrador government work assessment requirements for periods ranging from 2012 to 2017, meaning that no material work is required in this area for the next four years. Currently, no material assets fall within these mineral claims. Crosshair will not actively explore within the 8 per cent of the property that falls within LIL while the moratorium continues. Attached to the versions of this press release to be filed on SEDAR, EDGAR and on the company website is a map showing the property outline in relation to LIL, and its areas of proposed 2008 exploration activity. In addition, a second map is attached which shows in detail the 4.5-kilometre-long C zone mineralized corridor and its position in relation to LIL. As the company suggested in its April 1 letter to shareholders, which is available on SEDAR and the company website, the Nunatsiavut government has proposed the three-year time frame to allow it time to develop and adopt an applicable mining policy and to arrange the expertise required to regulate mining on its heritage lands. There simply are not any companies in Labrador that could have commenced uranium mining during the next three years. If a permanent banning of uranium mining would have been its objective, it would not continue to encourage exploration activities. While the moratorium begins immediately, it does not apply to the exploration of uranium and in fact the Nunatsiavut government is committed to continuing to work with mining companies. "We are prepared to work with any company wanting to conduct exploration within our territory," said Lands and Resources Minister William Barbour. Mr. Barbour further states: "We are a new government, established on Dec. 1, 2005, and we do not yet have the necessary tools for evaluating the impacts of large-scale development projects on our lands, nor for protecting the environment in light of these projects. During the next three years we will place focus on establishing a lands administration system, developing an Environmental Assessment Act and environmental protection legislation." We seek Safe Harbor.