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, firstname.lastname@example.org,
www.clauderesources.com; Renmark Financial Communications Inc.: Neil
Murray-Lyon: email@example.com; James Buchanan:
firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717,