/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
Toronto Stock Exchange
Trading symbol - CRJ
AMEX - CGR
SASKATOON, Oct. 30 /CNW Telbec/ - Claude Resources Inc. (TSX: CRJ /
AMEX: CGR) (Claude) is pleased to announce its plans to proceed with a
non-brokered private placement of up to 3,783,784 common shares, to be issued
on a "flow-through" basis, at a price of $1.85 per common share, to raise a
maximum of $7,000,000.
The offering, which is subject to regulatory approval, is expected to
close on or about November 15, 2007.
Net proceeds from the offering will be used primarily for expenditures on
the Company's Madsen property in Red Lake, Ontario. These expenditures will be
"Canadian Exploration Expenses" which qualify as "Flow-Through Mining
Expenditures" for the purposes of the Income Tax Act (Canada) and Claude will
renounce such expenses with an effective date no later than December 31, 2007.
Finders' fees of up to 5% of the aggregate gross proceeds of the
offering, payable in cash at, and conditional on, closing of the offering are
payable in connection with the offering.
The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would be
For further information:
For further information: Rick Johnson, Chief Financial Officer, (306)
668-7505, Facsimile: (306) 668-7500, firstname.lastname@example.org;
Renmark Financial Communications Inc.: Neil Murray-Lyon:
email@example.com; James Buchanan:
firstname.lastname@example.org; (514) 939-3989, Fax: (514) 939-3717,