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Claude Resources Inc. (TSX - CRJ) (NYSE
Amex - CGR) announced
today that, further to its news release of February 17, 2011, a National
Instrument 43-101 (�NI 43-101�) compliant Technical Report supporting the
mineral resource estimate at the Amisk Gold
Project has been filed on SEDAR (www.sedar.com). The resource table
below shows the Amisk Gold Project's gold and
silver mineral resource estimate using a 0.40 grams of gold equivalent
cut-off grade and prices of U.S. $1,100 and U.S. $16 per ounce of gold and
silver, respectively.
Resource Category
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Quantity
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Grade (gpt)
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Contained Ounces (000's)
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(000's tonnes)
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Au
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Ag
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Au Eq
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Au
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Ag
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Au Eq
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Total Indicated
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30,150
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0.85
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6.17
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0.95
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827
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5,978
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921
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Total Inferred
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28,653
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0.64
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4.01
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0.70
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589
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3,692
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646
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The
NI 43-101 Technical Report was prepared by SRK Consulting (Canada) Inc., an
independent consulting firm under the direction of Glen Cole, P.Geo.
Claude
President and CEO Neil McMillan noted that the addition of these Amisk ounces marks the second consecutive year that the
Company has successfully increased total measured and indicated gold
resources.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Press Release may contain statements which constitute
�forward-looking� statements, including statements regarding the plans,
intentions, beliefs and current expectations of the Company, its directors,
or its officers with respect to the future business activities and
operating performance of the Company. The words �may�, �would�,
�could�, �will�, �intend�, �plan�, �anticipate�, �believe�, �estimate�,
�expect� and similar expressions, as they relate to the Company, or its
management, are intended to identify such forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future business activities or performance
and involve risks and uncertainties, and that the Company�s future business
activities may differ materially from those in the forward-looking
statements as a result of various factors. Such risks, uncertainties
and factors are described in the periodic filings with the Canadian
securities regulatory authorities, including the Company�s Annual
Information Form and quarterly and annual Management�s Discussion and
Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted to
identify important risks, uncertainties and factors which could cause
actual results to differ materially, there may be others that cause results
not to be as anticipated, estimated or intended. The Company does not
intend, and does not assume any obligation, to update these forward-looking
statements, except in accordance with applicable securities laws.
Cautionary note to US investors
concerning resource estimates
The resource estimates in this document were prepared in accordance
with National Instrument 43-101, adopted by the Canadian Securities
Administrators. The requirements of National Instrument 43-101 differ
significantly from the requirements of the United States Securities and
Exchange Commission (the �SEC�). In this document, we use the terms
�measured,� �indicated� and �inferred� resources. Although these terms are
recognized and required in Canada, the SEC does not recognize them. The SEC
permits U.S. mining companies, in their filings with the SEC, to disclose
only those mineral deposits that constitute �reserves.� Under United States
standards, mineralization may not be classified as a reserve unless the
determination has been made that the mineralization could be economically
and legally extracted at the time the determination is made. United States
investors should not assume that all or any portion of a measured or
indicated resource will ever be converted into �reserves.� Further, �inferred
resources� have a great amount of uncertainty as to their existence and
whether they can be mined economically or legally, and United States
investors should not assume that �inferred resources� exist or can be
legally or economically mined, or that they will ever be upgraded to a
higher category.
For further information please contact:
Brian Skanderbeg,
Vice President, Exploration
Philip Ng, P.Eng, Vice President, Mining Operations
Email: ir@clauderesources.com
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