Claude Resources Completes Sale of Certain Oil and Natural Gas Assets
"Sale of Non-Core Assets Generates $11.23 Million in Cash for Claude
Resources"
Toronto Stock Exchange
Trading symbol - CRJ
AMEX - CGR
SASKATOON, SK, Dec. 29 /CNW/ - Claude Resources Inc. (TSX-CRJ; AMEX-CGR)
today announced that it has successfully completed the sale of certain of its
oil and natural gas assets.
Claude's working interests in the Edson Gas Unit No. 1 and the Edson Gas
Plant have been purchased by a private Canadian corporation for gross proceeds
of $11.23 Million.
The previously announced Purchase and Sale Agreement relating to this
transaction was amended to include only the Edson assets as opposed to the
Edson and Nipisi assets.
All rights of first refusal and regulatory approvals have been addressed
in concluding this transaction.
Proceeds of the transaction will be used to support the exploration
program at the Company's Madsen, Red Lake, Ontario property and for general
working capital purposes.
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's entire asset base is located in Canada. Since
1991, Claude has produced approximately 830,000 ounces of gold from its Seabee
mining operation 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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements relating
but not limited to the Company's expectations, intentions, plans and beliefs.
Forward-looking information can often be identified by forward-looking words
such as "anticipate", "believe", "expect", "goal", "plan", "intent",
"estimate", "may" and "will" or similar words suggesting future outcomes or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Forward-looking information may
include reserve and resource estimates, estimates of future production, unit
costs, costs of capital projects and timing of commencement of operations, and
is based on current expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ materially
from any forward-looking statement include, but are not limited to, failure to
establish estimated resources and reserves, the grade and recovery of mined
ore varying from estimates, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of
projects and other factors. Forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from expected results.
Potential shareholders and prospective investors should be aware that
these statements are subject to known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially from those
suggested by the forward-looking statements. Shareholders are cautioned not to
place undue reliance on forward-looking information. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the possibility
that the predictions, forecasts, projections and various future events will
not occur. Claude Resources undertakes no obligation to update publicly or
otherwise revise any forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law.
%SEDAR: 00000498E
%CIK: 0001173924
For further information: Neil McMillan, President & CEO, Claude Resources
Inc., Phone: (306) 668-7505, Email: clauderesources@clauderesources.com,
Website: www.clauderesources.com
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Claude Resources Inc.
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PRODUCER |
CODE : CRJ.TO |
ISIN : CA1828731093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Claude Resources is a gold producing company based in Canada. Claude Resources holds various exploration projects in Canada. Its main asset in production is SEABEE in Canada, its main asset in development is SANTOY 8 in Canada and its main exploration properties are PORKY LAKE, SANTOY 7 and AMISK LAKE GOLD in Canada. Claude Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 483.6 millions as of today (US$ 377.2 millions, € 332.2 millions). Its stock quote reached its highest recent level on November 22, 1996 at CA$ 3.10, and its lowest recent point on November 29, 2013 at CA$ 0.12. Claude Resources has 197 380 000 shares outstanding. |