"Seabee Operations produce over 13,500 ozs in fourth quarter"
Toronto Stock Exchange Trading symbol - CRJ
AMEX - CGR
SASKATOON, Jan. 7 /CNW/ - Claude Resources Inc. (CRJ-TSX; CGR-AMEX) today
reported 2008 gold production results of 45,466 ounces including 13,551 ounces
in the fourth quarter and 25,513 ounces in the second half. This represents a
production increase of 28% from the first half of 2008.
Speaking today in Saskatoon, Vice President of Mining Operations Philip
Ng stated that "Seabee Operations finished the year with a strong fourth
quarter and produced in a safe and responsible manner. Our focus going forward
is to improve our gold production volume and operating margins."
In 2009, Claude Resources Inc. forecasts to produce from its satellite
deposit at Santoy 7 as well as the Seabee mine. In addition, the Company plans
on continuing with an underground bulk sample program at Porky West and
pending environmental approval and permits, to move Santoy 8 towards
Claude Resources Inc. is a public company based in Saskatoon,
Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and
the American Stock Exchange (AMEX-CGR). Claude is a gold exploration and
mining company. The Company also owns producing oil and natural gas assets.
The Company's entire asset base is located in Canada. Since 1991, Claude has
produced approximately 835,000 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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements relating
but not limited to the Company's expectations, intentions, plans and beliefs.
Forward-looking information can often be identified by forward-looking words
such as "anticipate", "believe", "expect", "goal", "plan", "intent",
"estimate", "may" and "will" or similar words suggesting future outcomes or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Forward-looking information may
include reserve and resource estimates, estimates of future production, unit
costs, costs of capital projects and timing of commencement of operations, and
is based on current expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ materially
from any forward-looking statement include, but are not limited to, failure to
establish estimated resources and reserves, the grade and recovery of mined
ore varying from estimates, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of
projects and other factors. Forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from expected results. Potential shareholders and prospective
investors should be aware that these statements are subject to known and
unknown risks, uncertainties and other factors that could cause actual results
to differ materially from those suggested by the forward-looking statements.
Shareholders are cautioned not to place undue reliance on forward-looking
information. By its nature, forward-looking information involves numerous
assumptions, inherent risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, forecasts, projections and
various future events will not occur. Claude Resources undertakes no
obligation to update publicly or otherwise revise any forward-looking
information whether as a result of new information, future events or other
such factors which affect this information, except as required by law.
%SEDAR: 00000498E %CIK: 0001173924
For further information:
For further information: Neil McMillan, President and Chief Executive
Officer, (306) 668-7505 or Philip Ng, Vice President Mining Operations, (306)
668-7505, Email: firstname.lastname@example.org, Website: