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

Q1 Results May 14, 2012 Claude Resources reported financial and operating results from the first quarter of 2012. Gold revenue from the Company’s Seabee Gold Operation in Canada for the three months ended March 31, 2012 climbed 21% to $16.1 million from $13.3 million in the first three months of 2011. The increase in gold revenue period over period was attributable to a 19% improvement in Canadian dollar gold prices realized and higher gold sales volume.

Strengthens Board of Directors April 4, 2012 Claude Resources announced that Mr. Brian Booth has joined the Company’s Board of Directors. Mr. Booth is presently the President and CEO of Pembrook Mining Corp., an exploration company based in Vancouver , B.C., Canada. Mr. Booth holds a B.SC. in Geology from McGill University and is also a member of the Professional Geoscientists of Ontario.

New VP of Operations April 3, 2012 Claude Resources announced the appointment of Mr. Peter Longo to Vice President of Operations. Mr. Longo recently joined Claude as Manager of Capital Projects in 2011. He is a Professional Engineer and Project Management Professional with over 12 years of experience.

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.