Claude Resources Inc. commences purchase of debentures



    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    TRADING SYMBOLS
    TSX - CRJ
    NYSE Amex - CGR
    

    SASKATOON, April 20 /CNW/ - Claude Resources Inc. ("Claude" or the
"Company") is pleased to announce that it has made an offer to purchase (the
"Offer to Purchase") a portion of the outstanding 12% senior secured
debentures of the Company (the "Debentures").
    The Company recently completed a private placement of a total of
8,599,100 units at a price of $0.75 per Unit, for gross proceeds of
$6,449,325. Claude intends to use these proceeds, together with $4,050,675 of
working capital for a total of $10,500,000 (the "Funds"), which Funds been
deposited in trust with its legal counsel, in connection with the Offer to
Purchase. The Funds represent approximately 58% of the total outstanding
principal amount of the Debentures.
    The Offer to Purchase consists of an offer from the Company to each
holder of Debentures (the "Debentureholders") to purchase 58% of the
Debentures owned by such Debentureholder, rounded down to the nearest $1,000,
at a price equal to 100% of the principal amount of such Debentures, plus
accrued and unpaid interest thereon to and including June 1, 2009. The Offer
to Purchase expires at the close of business on May 25, 2009 and may be
accepted by each Debentureholder for all or a part of the Debentures being
offered to be purchased, in increments of $1,000. It is anticipated that if
any Debentureholders accept the Offer to Purchase, such purchases will close
on June 1, 2009.

    Claude 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. The Company owns
producing oil and natural gas assets. The Company's entire asset base is
located in Canada. Since 1991, Claude has produced approximately 840,000
ounces of gold from its Seabee mining operation in northeastern Saskatchewan.
The Company also owns 100% of the 10,000 acre Madsen property in the prolific
Red Lake gold camp of northwestern Ontario.

    The Debentures 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
unlawful.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    This Press Release may contain statements which constitute
'forward-looking', including 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 not guarantees 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 prove incorrect, 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 be as
anticipated, estimated or intended. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements.

    %SEDAR: 00000498E          %CIK: 0001173924




For further information:

For further information: Neil McMillan, President and Chief Executive
Officer, (306) 668-7505; or Rick Johnson, Chief Financial Officer, (306)
668-7505, Email: clauderesources@clauderesources.com, Website:
www.clauderesources.com

Organization Profile

Claude Resources Inc.

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