Covering over 685,000ha, the concession areas include the San Jorge Basin Properties, Amblayo and Diamante Los Patos, located in Salta, Catamarca and Chubut provinces.
Pursuant to the transaction, Wealth Minerals will receive $1m in cash and one million common shares in Crosshair, payable over two years.
Additionally, Wealth Minerals will retain a 1% yellowcake royalty on all uranium production and a 1% NSR royalty on all other minerals.
The San Jorge Basin includes five properties, the Amblayo property covers 14,998ha and the Diamante Los Patos property is spread over 13,300ha.
Crosshair president and chief executive officer Mark Ludwig said that the mineral resource potential of the land package represented a significant opportunity for the company.
"The continuing volatility in the junior resource sector demands that we broaden our field of view and seek opportunities that can enhance shareholder value wherever we can find them.
"These Argentinian properties represent just such an opportunity and I’m very excited about the exploration potential they represent," Ludwig added.
