CGR - Claude Resources Inc.

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CGR - Claude Resources Inc.



Claude Resources Inc. is a gold producer with shares listed on both the Toronto Stock Exchange (TSX: CRJ) and the NYSE Amex (NYSE Amex: CGR).The Company is also engaged in the exploration and development of gold mineral reserves and mineral resources. The Company's entire asset base is located in Canada.Its main revenue generating asset is the 100 percent owned Seabee Gold Project, located in northern Saskatchewan. Since 1991, Claude has produced over 973,000 ounces of gold from the Seabee Gold Project. Claude also owns 100 percent of the Madsen property near Red Lake, Ontario and 100 percent interest in the Amisk Gold Property in northeastern Saskatchewan.

Contact Info
200 - 224 - 4 th Ave S.
Saskatoon, SK S7K 5M5
Canada

Website: www.clauderesources.com
Phone: [phone]

www.otcmarkets.com/stock/CGR/quote

Mr. A. Neil McMillan has been the Chief Executive Officer and President of Claude Resources Inc., since March 1, 2004. Mr. McMillan has over 10 years of experience in the resources industry. Mr. McMillan had been with RBC Dominion Securities for nearly 16 years, where he served as Vice President and Manager of RBC Dominion Securities Inc. until 1995. Mr. McMillan has been an Executive Director of Claude Resources Inc. since April 3, 1996. He has been a Director of Shore Gold Inc. since June 18, 2003. He has been an Independent Director of Cameco Corp. since 2002. He served as a Director of Atomic Energy of Canada Limited. He served as President of the Saskatoon Chamber of Commerce, sits on the Executive of the Saskatchewan Mining Association. Mr. McMillan is a former member of the Saskatchewan Legislature. Mr. McMillan holds a Bachelor of Arts degree in History and Sociology from the University of Saskatchewan. He graduated from the University of Saskatchewan with a Masters of Business Administration.

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Claude Resources increases inferred resource base 236% at the Seabee Gold Operation, Saskatchewan (CGR) 1.10 : Mineral reserves increased, net of mining depletion, to 355,600 ounces at 5.37 grams per tonne from 352,600 ounces at 5.58 grams per tonne. Mineral reserves increased 18% at the 100% owned Seabee Gold Mine, while reserves decreased 19% at the Santoy 8 Gold Mine. Measured and indicated resources increased to 70,700 ounces at 5.35 grams per tonne from 49,600 ounces at 5.70 grams per tonne, representing a 43% increase from 2010. Inferred mineral resources increased to 873,400 ounces at 6.48 grams per tonne from 260,100 ounces at 6.23 grams per tonne in 2010, representing a 236% increase in contained ounces year over year. A significant portion of the increases came from the discovery and delineation of the L62 and Santoy Gap deposits. Individually, the L62 deposit added 70,400 ounces to the probable reserve and 40,300 ounces to the inferred resource and the Santoy Gap deposit added 495,000 ounces to the inferred resource. In 2012, the co has budgeted 130,000 metres of drilling at the Seabee Gold Operation with a focus on continued resource and reserve growth at the Seabee Mine, Santoy 8 and Santoy Gap. Driven by these positive results, the co has approved an eight rig, 130,000 metre drill program for 2012 with a focus on resource and reserve expansion at Santoy Gap, Santoy 8, L62 and Seabee Mine at depth.