Canadian-based gold miner, Claude Resources (CGR), announced updated drilling results from its Seabee gold mine in northeastern Saskatchewan, Canada. The gold producer stated that it continues to achieve encouraging drill results from its ongoing 2009 underground in-fill and exploration program at Seabee. Highlights from the drill results consist of 28.05 grams per ton (g/t) of gold over 1.6 meters true width (hole U09-671); 16.71 g/t of gold over 1.4 meters true width (hole U09-677); 10.14 g/t of gold over 3.7 meters true width (hole U09-679); and 12.15 g/t of gold over 2.6 meters true width (hole U09-362).

Philip Ng, Vice President, Mining Operations for Claude Resources commented that The gold intercepts reported here and earlier in the year have demonstrated the potential to increase the reserve grade and tonnage at the Seabee Mine. We continue to forecast gold production between 46,000-48,000 ounces for 2009.

Last month following Claudes third quarter 2009 financial and operating results, the company stated that its gold exploration activities at Seabee continue to demonstrate impressive results near existing infrastructure. Recently released drill results at Seabee Deep consisted of 10.16 g/t of gold over 1.6 meters, 20.13 g/t of gold over 1.3 meters, 8.68 g/t of gold over 4.5 meters and 10.71 grams of gold per ton over 2.9 meters true width. According to the company, these intercepts demonstrate grade above the historical average and are in close proximity to existing development and infrastructure. Neil McMillan, Claudes President and CEO, when commenting on Seabee, stated that the gold mine continues to benefit from a positive gold price environment, increasing production, improved operating margins and success with its exploration program.

At the time Claude Resources also announced that going forward it would concentrate on Seabee Deep exploration and development to increase reserves and resources, invest in capital projects and equipment to increase production, and lower unit operating costs at its flagship Seabee Operation. Concurrently, the company is actively looking at ways to increase shareholder value to bring their valuation more in line with several of their gold mining peers in the prolific Red Lake gold district.

Claude Resources is a gold exploration and mining company located in Canada. Since 1991, Claude has produced approximately 865,000 ounces of gold from its Seabee Operation, located in northeastern Saskatchewan. The company also owns 100% of the 10,000 acre Madsen property in the Red Lake gold camp of northwestern Ontario. Shares of CGR were down $0.01 to $1.27 while the gold price was lower by $23.63 to $1,188 per ounce.