Strathmore Resources (US) has signed a purchase and sale agreement with Crosshair Exploration & Mining to sell its property known as Juniper Ridge, located in south-central Wyoming in US.

The Juniper Ridge Property, also known as Red Creek, comprises 197 claims and one state minerals lease totaling 4,710 acres (1,906 Ha).

It has historical resource estimates (not NI 43-101 compliant) of 5,971,000 tons grading 0.063% U308 for a total of 7,359,000lbs (Urangesellschaft, 1978) and 5.2 million tons grading 0.067% U3O8 for a total 6.97 million pounds (AGIP Mining Company, 1986).

Crosshair will acquire a 100% interest in the Juniper Ridge Property and the purchase will be staged and include payments in cash and common shares of Crosshair.

Strathmore wii retain a 2% gross revenue royalty on the property and it will have the option to repurchase this royalty at any time during the first three years after commercial production commences for $1.5m for each 1% of the gross revenue royalty.