CLAUDE RESOURCES (CGR)

CLAUDE RESOURCES HIGHLIGHTS

Flagship Seabee Mine in Production Since 1991 – Claude Resources’ flagship project, located in Saskatchewan, Canada is a narrow vein, underground operation that has produced approximately 930,000 ounces of gold since its start-up over 19 years ago.

Growing Production, Cash Flow, and Earnings – The company is focused on delivering significant shareholder value through gold exploration and mining at its suite of gold projects across Canada.

Madsen Target, located in World-Class Red Lake District – This property represents a significant exploration opportunity for Claude Resources, and is located ten kilometers southwest of Goldcorp’s high-grade Red Lake Mines in Ontario. During 2008 and 2009 Claude demonstrated the potential for discovery of high-grade gold deposits and provided and updated NI 43-101 Technical Report on the property.

100% Ownership of Assets, in Politically-Safe Jurisdictions – Claude Resources retains full ownership of each of its assets and is entering a new era in its development with the expansion and mining of satellite deposits at Seabee and the substantial potential of the Madsen Target.

CLAUDE RESOURCES RECENT DEVELOPMENTS

Completes St. Eugene Acquisition February 2, 2012 Claude Resources announced the closing of its acquisition of St. Eugene Mining Corporation Limited. As a result of the acquisition, Claude has consolidated 100% ownership of the Amisk Gold Project in the Flin Flon district in Manitoba, Canada.

St. Eugene Shareholders Approve Acquisition January 18, 2012 Claude Resources reported that the shareholders of St. Eugene Mining Corporation Limited (SEM.TSXV) have approved the previously-announced acquisition by Claude of all of the issued and outstanding shares of St. Eugene that it does not already own pursuant to a court-approved plan of arrangement. The closing of the Arrangement is conditional on receipt of final approval from the Supreme Court of British Columbia as well as final approval from the TSX Venture Exchange, and is expected to occur on or about January 31, 2012.

Exploration Success at Seabee January 16, 2012 Claude Resources reported exploration results from its L62 discovery at the company’s 100%-owned and operated Seabee Gold Mine. The L62 deposit is located approximately 200 meters away from existing development in the hanging wall of the Seabee Mine. The drilling was completed between September and December of 2011, with the results to be incorporated into an updated National Instrument 43-101 resource calculation anticipated in the first quarter of 2012.

CLAUDE RESOURCES SHARE PERFORMANCE

CGR HAS OUTPERFORMED

S&P 500Claude Resources has advanced by a factor of more than eight times that of the broader equity market over the past 52 weeks.

GoldClaude has displayed its leverage to the gold price as it continues to deliver results at its set of Canadian gold assets.

GDXClaude has more than doubled since the fall of 2009, while the broader gold stocks sector has risen by a more modest 35%.

XAUClaude has posted gains far surpassing the precious metals sector as a whole over the past year

CGR VS BENCHMARKS SINCE NOV ’09

Premier continues to outperform benchmarks

CLAUDE RESOURCES IN THE NEWS

LOCATED IN TOP MINING JURISDICTION SASKATCHEWAN, CANADA

KEY UPCOMING CATALYSTS

2012
Ongoing Optimization at Seabee Gold Mine
Claude has stated that it expects steadily increasing gold production and improvement in unit operating costs at Seabee. The Company will also continue exploration and development at Seabee to sustain or increase reserves and resources.

2012
Acquisition of St. Eugene Mining
With the purchase of St. Eugene Mining, Claude will obtain 100% ownership of the Amisk Gold Project in Canada – where the Company intends to conduct a Preliminary Economic Assessment and expects to release an updated National Instrument 43-101 resource estimate in the second quarter of 2012.

2012
Cash Flow and Earnings Leverage to Higher Gold Prices
Claude Resources intends to provide investors with leverage to the price of gold by growing production, cash flow, and net income in the years ahead.