Claude Resources Inc. Updates Seabee Reserves - "Gold Reserves Climb 44% in First Three Quarters 2007"

    Toronto Stock Exchange
    Trading symbol - CRJ
    AMEX - CGR

    SASKATOON, Nov. 8 /CNW Telbec/ - Claude Resources Inc.  (TSX: CRJ / AMEX:  
CGR) : Claude Resources Inc. today reported its reserve update at the
Company's Seabee mine operation.
    As the result of a successful underground drilling and development
program, the Seabee gold mining operation has increased its gold ounces
reserves to 211,100 ounces as at September 30, 2007. This is up from
146,700 ounces as at December 31, 2006, an increase of 44% during the first
three quarters of the current year.

                    December 31, 2006    June 30, 2007    September 30, 2007
    Gold Ounces     146,700              179,100          211,100
    Tonnes          692,500              802,600          984,200
    Grade           6.59 g/tonne         6.94 g/tonne     6.67 g/tonne

    Within the September 30 2007 reserve totals are the following:
303,000 tonnes proven, 681,200 tonnes probable; 60,200 gold ounces proven,
150,900 gold ounces probable; and 6.18 grams per tonne proven and 6.89 grams
per tonne probable.
    The reserve updates are conducted under the direction of Qualified Person
Philip Ng, P. Eng., Vice-President Mining Operations with Claude Resources
Inc. He has reviewed the contents of this news release for accuracy.

    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 775,000 ounces of gold from its Seabee mine 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.
    %SEDAR: 00000498E          %CIK: 0001173924

For further information:

For further information: Neil McMillan, President & CEO, Claude
Resources Inc., (306) 668-7505; Philip Ng, Vice President Mining Operations,
Claude Resources Inc., (306) 668-7505,,; Renmark Financial Communications Inc.: Neil
Murray-Lyon:; James Buchanan:, (514) 939-3989, Fax: (514) 939-3717,

Organization Profile

Claude Resources Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890