GOLD STOCK NEWS - Canadian gold producer Claude Resources (CRJ.TSX, CGR: AMEX) announced exploration results from its 100% owned and operated Madsen gold deposit in the Red Lake gold camp in Ontario, Canada. The drill holes included in the results were from Claude’s 2009 surface program which tested a near-surface extension of the Austin Tuff zone, and the intercepts are within 100 meters of Madsen Mine infrastructure, according to the gold producer.

Claude Resources went on to outline highlights from the results at Madsen - which is located in one of the world’s highest-grade gold districts - including notable intercepts of 44.4 grams per ton (g/t) of gold across 2.0 meters at Hole AP-09-08, 18.7 g/t of gold across 1.1 meters at Hole AP-09-01, and 11.3 g/t of gold across 3.0 meters at Hole AP-09-06.

The Canadian-based gold producer reported that these results were not incorporated into the NI 43-101 resource calculation at Madsen released in December 2009 - which disclosed an indicated resource of 928,000 ounces of gold at 8.93 g/t and an inferred resource of 297,000 ounces of gold at 11.74 g/t. As a result, Claude stated that the new results represent an opportunity to further expand mineral resources at Madsen.

Brian Skanderbeg, Vice President of Exploration at Claude Resources, commented “We are very pleased with the surface results from the Austin Tuff extension. We will continue to delineate the zone as it demonstrates the potential of the Austin Tuff to host significant mineralization along strike and at depth.”

Claude Resources has moved back the start date of the underground drilling program at Madsen, now expected to begin in the fourth quarter of 2010 as a result of an unexpected catch pit failure below 200 level of the shaft. The company noted that inspections, rehabilitation and upgrades of the Madsen shaft are being undertaken prior to the resumption of the de-watering program.

Claude Resources is a gold exploration and mining company located in Canada. Since 1991, Claude has produced approximately 880,000 ounces of gold from its Seabee Operation, located in northeastern Saskatchewan. As previously mentioned, the gold producer also owns 100% of the 10,000-acre Madsen property in the Red Lake gold camp of northwestern Ontario, Canada. Claude Resources recently received an investment from former Kinross Gold (KGC) Chief Executive Officer, Robert Buchan, of roughly C$5.3 million. In morning trading shares of CRJ.TSX were up C$0.01 to C$1.14 while the gold price advanced $3.55 to $1,118.95 per ounce.