The deal is part of a settlement of outstanding litigation with the original claim owner.
The terms of the settlement are a cash payment by Crosshair to the original claim owner in the amount of $600,000 and an additional payment of 1,193,614 Crosshair shares.
Crosshair will be required to make advance royalty payments of $200,000 per year beginning November 2012.
Crosshair is engaged in the exploration and development of uranium, vanadium and gold in the US and Canada.
