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Claude Resources Inc. Intercepts 169.38 g/t Over 1.2 m True Width at Seabee Deep



Claude Resources Inc. Intercepts 169.38 Grams of Gold per Tonne Over 1.2 Metres True Width at Seabee Deep

Discovers New Zone “L62” at Seabee Gold Operation



Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) (“Claude” or the “Company”) today reports highlights of its 2011 underground exploration program thru June 30. Results at the Company’s 100 percent owned and operated Seabee Gold Operations include:



· 11.47 grams of gold per tonne (cut) over 3.7 metres true width (U11-617) at Seabee Deep

· 35.79 grams of gold per tonne (cut) over 1.2 metres true width (U10-683) at Seabee Deep

· 17.26 grams of gold per tonne (cut) over 2.3 metres true width (U10-682) at Seabee Deep

· 6.18 grams of gold per tonne (cut) over 15.1 metres true width (SUG-11-006) at Santoy 8

· 14.04 grams of gold per tonne (cut) over 2.7 metres true width (SUG-10-040) at Santoy 8 and

· 6.13 grams of gold per tonne (cut) over 4.8 metres true width (U11-345) at L62

Speaking today in Saskatoon, Philip Ng, Senior Vice President, Mining Operations stated that “Underground exploration at Santoy 8 continues to prove up additional mineral resources. As a result, we are looking to increase tonnage output from Santoy 8 in 2012. Seabee Deep continues to demonstrate down plunge extensions with high grade shoots at depth in both the 2b and 2c ore bodies. The new L62 zone looks very promising with two holes (U11-345 and U11-347) reporting economic grades and widths. Based on these encouraging results, we have moved a second diamond drill rig to accelerate exploration of this new zone.”

The newly discovered L62 zone is located approximately 200 metres from existing Seabee underground infrastructure in the hanging wall of the Seabee ore body and at 1,000 metres below surface.

Click image to enlarge






In 2011, Claude will drill approximately 86,500 metres at the Seabee Gold Operation. Exploration targets include the Seabee Gold Mine, the Santoy 8 Gold Mine, Santoy Gap, L62 and Neptune (see May 25th, 2011 news release, “Claude Resources Intercepts 84.66 g/tonne Gold Over 3.20 Metres at Neptune”)



Please visit www.clauderesources.com for longitudinal and regional maps of the Seabee Gold Project.



Claude Resources Inc. is a public company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and the NYSE Amex (NYSE Amex-CGR). Claude is a gold exploration and mining company with an asset base located entirely in Canada. Since 1991, Claude has produced approximately 938,000 ounces of gold from its Seabee mining operation in northeastern Saskatchewan. The Company also owns 100 percent of the 10,000 acre Madsen property in the prolific Red Lake gold camp of northwestern Ontario and has a 65 percent working interest in the Amisk Gold Project in northeastern Saskatchewan.



Samples were assayed by Claude Resources Inc.’s non-accredited assay lab at the Seabee mine site. Duplicate check assays were conducted at site as well as at TSL Laboratories in Saskatoon. Results of the spot checks were consistent with those reported. Sampling interval was established by minimum or maximum sampling lengths and geological and/or structural criteria. Minimum sampling length was 0.3 metres while the maximum was 1.0 metre. 200 gram samples were pulverized until greater than 80 percent passes through 150 mesh screen. 30 gram pulp samples were then analyzed for gold by fire assay with gravimetric finish (0.01 grams per tonne detection limit). A top cut of 50 grams per tonne was usedto determine cut grades. Philip Ng, P.Eng, Vice President, Mining Operations and Brian Skanderbeg, P.Geo., Vice President, Exploration, Qualified Persons, have reviewed the contents of this news release for accuracy.





CAUTION REGARDING FORWARD-LOOKING INFORMATION



This Press Release may contain ‘forward-looking’ statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are notguarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s Annual Information Form and quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements proveincorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.



CAUTIONARY NOTE TO US INVESTORS CONCERNING RESOURCES ESTIMATES



The resource estimates in this document were prepared in accordance with National Instrument 43-101, adopted by the Canadian Securities Administrators. The requirements of National Instrument 43-101 differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”). In this document, we use the terms “measured,” “indicated” and “inferred” resources. Although these terms are recognized and required in Canada, the SEC does not recognize them. The SEC permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that constitute “reserves”. Under United States standards,mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally extracted at the time the determination is made. United States investors should not assume that all or any portion of a measured or indicated resource will ever be converted into “reserves”. Further, “inferred resources” have a great amount of uncertainty as to their existence and whether they can be mined economically or legally, and United States investors should not assume that “inferred resources”.





For further information please contact:



Philip Ng, P.Eng, Vice President, Mining Operations

Phone: (306) 668-7505



or



Brian Skanderbeg P. Geo, Vice President, Exploration

Phone: (306) 668-7505





Email: ir@clauderesources.com

Website: www.clauderesources.com

Still waiting for the crowd. Guess im way early. Oh well ill wait. scalping tickets (shares) at this event will be quite profitable.

Building nice support in this range. Could make for a nice launching platform.

Watch for GG to either make a bid on CGR. They will not want to lose there intrest in the madsen property. So they either have to walk away or make a deal. Should prove to be interesting.

Someone is accumulating. Big chunk last week and another this week. Shes gonna blow...........Obvious Zacks downgrade was intended to aid someone with there buying. Wallstreet never stops working an angle. But seeing the angle can be very profitable.

This is from over at the stockhouse bulletin board. Anyone know what company this is?

What’s unique about Seabridge is that they don’t produce gold. And they don’t mine gold. Instead, they “hoard” it. In fact, they are one of only two “gold hoarders” in the world.

What does a “gold hoarder” do exactly?

Well, Seabridge simply buys great gold supplies when prices are extraordinarily cheap. Then they cash in on these properties as gold becomes more expensive.

That’s why this is a great gold stock to own. You have none of the expenses or risks of mining or production. Yet you get huge gains as the price of gold goes up.

It’s no surprise that Seabridge is up 363% since July 2005, when I first recommended it.

When I found Seabridge, the company had 12.7 million ounces of gold in the ground. The shares were trading for the equivalent of $8.60 per ounce. It was a rare find. But, luckily for us... it’s now time to buy the other gold hoarder.

Remember, there are only two gold companies in the world who do business this way. We’ve seen 363% in gains on the first one... and now I think we’re about to see big gains on the second one too.

I strongly believe this company is the “Next Seabridge.” And it is one of my favorite investments in the world right now.

Just like Seabridge, this company has unbelievable amounts of gold in the ground--10 million ounces of “measured and indicated” gold reserves.

In short, if you buy this stock now, you’re getting gold in the ground for about $10 an ounce. With gold prices now up considerably, this company is “The Next Seabridge.” It is cheapest gold stock in America of any reasonable size. And today it is a “screaming buy.”

One of this company’s properties is in a famous gold region of Nevada. The company bought it for less than $3 million dollars. Yet this property has over a million ounces of gold in the ground -- worth about $630 million.

The previous owner spent $40 million getting permits, building mills, roads, power lines... in other words, everything you need to make money.

Unfortunately, the previous owner did all of this work in the 1990s, when gold wasn’t worth much. As a result, they closed the mine in 1998 when gold prices bottomed. They simply couldn’t make a profit.

This is the kind of opportunity gold “hoarders” look for.

Besides this property, the company has ten others, one of which is in Mexico. The company bought this property for just $1 per ounce of gold near the bottom of the gold market in 2002! As you probably know, gold is up about 130% since then.

And even though “The Next Seabridge” owns $8.3 billion worth of gold, it is a very small company—worth only about $100 million on the stock market.

Nice earnings. When the big boys start buying, this thing will be a double easy.

Is there anyone here anymore. Or am i the only one who sees the potental for claude?????

Base at 1.25

Cannacord still bullish:

CLAUDE RESOURCES INC. (CRJ : TSX : C$1.37) - BUY - 12-MONTH TARGET PRICE:
C$2.50
Brian Christie
Comment: Claude reports drill results from Porky Lake gold discovery
Claude has reported results from 28 additional holes on the West Porky
discovery near its Seabee mine in northern Saskatchewan. These holes were
successful in confirming the continuity within the main zone. Highlights
include: 7.95 metres of 7.15 g/t gold, 2.8 metres of 11.77 g/t gold and
2.4 metres of 12.5 g/t gold. About one kilometre to the west-northwest,
the company has reported a new discovery known as the West Zone.
Highlights from this zone include: 2.95 metres at 33.22 g/t gold and 1.8
meters at 10.54 g/t gold. There is good potential to expand these
discoveries and the West Porky and West Zone may ultimately link up.
Systematic exploration will be carried out over the balance of the year.
Claude offers a stable production platform, good exploration upside at
both Seabee and West Porky, and a larger exploration wildcard, the Madsen
project. We continue to rate the shares a BUY with a C$2.50 target price.

Uneven

Press Release Source: Claude Resources Inc.


Claude Drills Porky Lake Gold Discovery
Wednesday May 7, 10:00 am ET


SASKATOON, SK, May 7 /CNW/ - Following up on its 2002 West Porky discovery (press release May 8/02), Claude Resources completed 5,775 metres in 28 holes of infill drilling on the West Porky main zone, complemented by 2,913 metres in 13 holes testing the structure to the west-northwest. Claude's 2003 drill program was successful in confirming continuity within the main zone and in discovering a new arenite-hosted high-grade zone one kilometre to the west-northwest. The West Porky project is approximately two kilometres north of the Company's wholly-owned Seabee mine. Significant drill intersections from 2002 and 2003 are detailed in the ensuing table.

2002 Drill Results - West Porky Main Zone
------------------------------------------------------------------------
Hole No. Map From To Interval Grade Host Rock
ref. (m) (m) (m) (g/t)
------------------------------------------------------------------------

PKY02-01 M1 69.25 72.30 3.05 54.33 Fault in calc-silicate
122.70 125.70 3.00 14.12 Silicified arenite

PKY02-02 M2 35.00 36.70 1.70 2.69 Calc-silicate

PKY02-03 M3 36.50 39.30 2.80 1.83 Calc-silicate
50.95 52.30 1.35 8.90 Silicified arenite
62.20 64.40 2.20 8.46 Silicified arenite

PKY02-04 M4 37.90 39.80 1.90 4.62 Calc-silicate
73.55 77.40 3.85 15.79 Silicified arenite

PKY02-05 M5 15.30 16.40 1.10 2.43 Calc-silicate
18.30 19.50 1.20 2.87 Calc-silicate

PKY02-06 M6 12.00 13.00 1.00 3.74 Calc-silicate
67.20 70.70 3.50 6.04 Silicified arenite
------------------------------------------------------------------------
Hole No. Map From To Interval Grade Host Rock
ref. (m) (m) (m) (g/t)
------------------------------------------------------------------------
PKY02-07 M7 128.80 130.20 1.40 10.70 Calc-silicate
152.60 155.00 2.40 1.32 Silicified arenite

PKY02-08 M8 107.10 111.40 4.30 3.06 Silicified arenite

PKY02-09 M9 64.95 66.80 1.85 6.90 Calc-silicate
117.10 118.70 1.60 2.37 Silicified arenite

PKY02-10 M10 25.40 26.50 1.10 1.10 Calc-silicate

PKY02-11 M11 37.00 37.50 0.50 54.96 Calc-silicate
101.30 104.90 3.60 12.44 Calc-silicate

PKY02-12 M12 87.50 88.20 0.70 1.49 Silicified arenite

PKY02-14 M14 179.60 182.00 2.40 7.44 Calc-silicate
188.90 191.75 2.85 4.34 Calc-silicate

PKY02-15 M15 239.80 241.20 1.40 1.98 Calc-silicate
246.90 248.50 1.60 2.37 Silicified arenite

PKY02-16 M16 202.15 204.10 1.95 9.98 Calc-silicate
227.70 229.45 1.75 3.51 Silicified arenite

PKY02-17 M17 191.10 191.60 0.50 1.71 Calc-silicate
257.10 257.80 0.70 1.65 Silicified arenite

PKY02-18 M18 333.55 335.20 1.65 1.83 Calc-silicate
338.70 340.70 2.00 4.00 Silicified arenite

2003 Drill Results - West Porky Main Zone
------------------------------------------------------------------------
Hole No. Map From To Interval Grade Host Rock
ref. (m) (m) (m) (g/t)
------------------------------------------------------------------------
PK03-19 M19 199.15 200.30 1.15 3.67 Calc-silicate
PK03-19 259.00 259.40 0.40 7.44 Arenite

PK03-20 M20 145.60 164.60 19.00 3.00 Calc-silicate
Includes 145.60 149.45 3.85 7.26 Calc-silicate
And 161.90 164.60 2.70 6.36 Mafic volcanics
PK03-20 227.70 229.45 1.75 7.24 Arenite

PK03-21 M21 217.05 217.30 0.25 17.23 Arenite

PK03-22 M22 196.20 197.20 1.00 5.06 Calc-silicate
PK03-22 218.30 219.75 1.45 4.60 Calc-silicate
------------------------------------------------------------------------
Hole No. Map From To Interval Grade Host Rock
ref. (m) (m) (m) (g/t)
------------------------------------------------------------------------
PK03-22 227.30 229.35 2.05 4.69 Mafic volcanics
PK03-22 248.30 250.40 2.10 5.90 Calc-silicate
PK03-22 270.25 279.30 7.95 7.15 Arenite + felsite
PK03-22 290.20 292.50 2.30 9.24 Arenite

PK03-23 M23 159.25 160.10 0.85 7.26 Calc-silicate
PK03-23 208.55 209.40 0.85 5.82 Arenite

PK03-24 M24 92.65 95.45 2.80 11.77 Mafic volcanics
PK03-24 105.90 107.60 1.70 3.68 Calc-silicate
PK03-24 116.80 118.30 1.50 6.17 Calc-silicate
PK03-24 121.45 122.95 1.50 3.66 Calc-silicate

PK03-25 M25 130.50 134.10 3.60 1.44 Mafic volcanics
PK03-25 179.40 180.45 1.05 8.86 Arenite

PK03-26 M26 166.55 170.50 3.95 1.47 Mafic volcanics

PK03-27 M27 115.10 120.00 4.90 7.16 Quartz calc-silicate
Includes 115.10 117.50 2.40 12.50
And 119.40 120.00 0.60 7.68 Quartz vein in mafic
volcanics
PK03-27 164.00 165.65 1.65 3.79 Quartz vein in mafic
volcanics

PK03-28 M28 19.80 21.50 1.70 4.08 Mafic volcanics
PK03-28 93.95 94.56 0.61 8.50 Arenite

PK03-29 M29 147.30 149.10 1.80 1.74 Calc-silicate
PK03-29 243.30 245.65 2.35 3.56 Arenite
PK03-29 260.15 264.45 4.30 3.62 Arenite

PK03-30 M30 77.30 79.50 2.20 11.08 Mafic volcanics
PK03-30 144.20 161.30 17.10 3.62 Arenite
Includes 146.90 148.65 1.75 9.49
And 156.55 159.15 2.60 6.99

PK03-31 M31 66.30 67.50 1.20 2.98 Mafic volcanics
PK03-31 109.95 111.65 1.70 2.54 Calc-silicate
PK03-31 130.15 132.15 2.00 1.97 Arenite
PK03-31 151.00 153.50 2.50 8.57 Arenite

PK03-33 M33 191.75 194.25 2.50 2.09 Mafic volcanics
------------------------------------------------------------------------
Hole No. Map From To Interval Grade Host Rock
ref. (m) (m) (m) (g/t)
------------------------------------------------------------------------
PK03-34 M34 108.05 109.60 1.55 3.83 Calc-silicate
PK03-34 158.95 160.90 1.95 3.01 Arenite

PK03-36 M36 53.35 57.30 3.95 2.06 Calc-silicate
PK03-36 90.53 91.98 1.45 3.99 Calc-silicate

PK03-40 M40 109.50 111.25 1.75 2.24 Mafic volcanics

2003 New Discovery - West Zone
------------------------------------------------------------------------
Hole No. Map From To Interval Grade Host Rock
ref. (m) (m) (m) (g/t)
------------------------------------------------------------------------
GA03-1 W1 89.60 91.85 2.25 5.57 Mafic volcanics

GA03-4 W4 210.00 211.80 1.80 10.54 Arenite

GA03-6 W6 96.85 99.80 2.95 33.22 Arenite
GA03-6 119.20 121.60 2.40 11.81 Arenite
GA03-6 157.10 162.20 5.10 6.12 Quartz vein in arenite
Includes 157.10 158.75 1.65 14.66 Hanging Wall contact
of vein

GA03-10 W10 202.75 210.03 7.28 2.73 Quartz vein in arenite
Includes 203.75 206.00 2.25 5.88

GA03-12 W12 205.60 207.35 1.75 9.05 Arenite

GA03-13 W13 256.95 258.60 1.65 6.86 Arenite

The West Porky discovery comprises two principal styles of mineralization; shear-related sulfide-replacement in calc-silicate altered, mafic volcanic rocks and free gold associated with silicification of a feldspathic arenite. As shown on the accompanying plan map and longitudinal sections, both styles appear as planar surfaces that substantially parallel the SSE-trending, steeply dipping metamorphosed volcano-sedimentary contact. Both mineralized structures appear to plunge moderately to the southeast and either pinch-out or are truncated by a felsite dike along their eastern margin. Drilling confirmed continuity over 400 metres of strike length, routinely to a depth of 250 metres on approximately 50-metre centres.
The dominant sulfide phases in the replacement style of mineralization are pyrite and pyrrhotite. Arsenopyrite is a constituent of both the calc-silicate and arenite-hosted mineralization. However, metallic assays indicate that the gold contents in both rock types are typically in the coarser fraction and only weakly correlative with arsenopyrite.

The new discovery to the west-northwest is hosted by the feldspathic arenite. Drilling to date has returned several very encouraging intervals. Although constrained near surface by shallow drilling, the depth potential of this zone and its relationship to the West Porky system are recognized as substantive, high priority drill targets. Induced polarization and ground magnetometer surveys have been conducted to facilitate zonal modeling.

Both the West Porky and West zones outcrop on the Currie Rose property in which Claude Resources has a 100% working interest, subject to a 30% Net Profits Interest in favour of Currie Rose Resources.

The core from the Porky Lake project was logged and split at the Company's logging facility at the Seabee mine. Initial assaying was done by the mine's assay laboratory. The pulps and rejects from all samples that assayed over one gram per tonne were shipped out and reassayed by TSL Laboratories in Saskatoon. Total metallic assays were routinely performed on samples that exceeded five grams per tonne by conventional assaying methods. The qualified person on the project is Philip E. Olson, P. Geo. (Sask).

Additional plan view and long sections of the drill hole locations has been posted as the most recent news release on the Claude Resources' web-site at www.clauderesources.com.


%CIK: 0001173924
For further information

Philip E. Olson, P.Geo., Vice-President, Exploration, (306) 668-7505
To request a free copy of this organization's annual report, please go to http://www.newswire.ca and click on reports@cnw.



--------------------------------------------------------------------------------
Source: Claude Resources Inc.

Canaccord Capital recommends Claude Resources
http://www.thebulliondesk.com/reports/canaccord/gold_100103.pdf