Trading Symbols:TSX: CRJ; OTCQB: CLGRF
SASKATOON, Nov. 13, 2014 /CNW/ - Claude Resources Inc.'s ("Claude" and or the "Company") Board of Directors ("Board") are pleased to announce the appointment of Mr. Brian Skanderbeg as President and Chief Executive Officer ("CEO") of the Company effective November 17, 2014.
Mike Sylvestre, Chair of the Board, Interim President and CEO, stated, "As part of the Company's succession planning, I have worked closely with Brian over the past two years while he served as Chief Operating Officer. Brian played a key role in the discoveries and development of the L62, Santoy 8 and Santoy Gap deposits and more recently, led the operations team in achieving record production, safety and environmental performances. I am confident in his ability to build value for our shareholders."
Brian joined Claude in 2007 and was appointed Senior Vice President and Chief Operating Officer in 2012. He brings over 10 years of extensive gold mining and exploration experience. He previously worked for Goldcorp, Inco Ltd. and Helio Resources and holds a B.Sc. from the University of Manitoba and a M.Sc. from Rhodes University, South Africa.
As a result of record operating performances during 2014, Claude increased its full year 2014 gold production outlook to 61,000 – 64,000 ounces, lowered unit costs guidance by approximately 20% and will reduce its debt by over $10.0 million. Along with a remarkable turnaround in operating performance, Santoy Gap development is ahead of schedule and the deposit is expected to produce approximately 250 – 350 tonnes per day by the end of the year.
Claude Resources Inc. is a public gold exploration and mining company based in Saskatoon, Saskatchewan, with an asset base located entirely in Canada. Its shares trade on the Toronto Stock Exchange (TSX: CRJ) and the OTCQB (OTCQB: CLGRF). Since 1991, Claude has produced over 1,000,000 ounces of gold from its Seabee Gold Operation in northeastern Saskatchewan. The Company also owns 100 percent of the Amisk Gold Project in northeastern Saskatchewan.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained or incorporated by reference in this news release and constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada will continue to support the development of mining projects in Canada.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Claude to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; possible variations in ore reserves, grade or recovery rates; mine development and operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing or in the completion of development or construction activities; and other risks and uncertainties, including but not limited to those discussed in the section entitled "Business Risk" in the Company's Annual Information Form. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although Claude has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date of this news release and accordingly, are subject to change after such date. Except as otherwise indicated by Claude, these statements do not reflect the potential impact of any non-recurring or other special items that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment.
Claude does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Claude Resources Inc.
For further information: Mike Sylvestre, Chairman, Interim President & CEO, Phone: (306) 668-7505; or Marc Lepage, Manager, Investor Relations, Phone: (306) 668-7501, Email: [email protected], Website: www.clauderesources.com