Claude Resources Increases Inferred Resource Base 236 % at the Seabee Gold Operation, Saskatchewan

Claude Resources Inc.

today reported an updated National Instrument 43-101 ("NI 43-101") gold reserve and resource from its 100 percent owned Seabee Gold Operation, Saskatchewan, Canada. Highlights include the following: Mineral reserves increased, net of mining depletion, to 355,600 ounces at 5.37 grams per tonne from 352,600 ounces at 5.58 grams per tonne. Mineral reserves increased 18 percent at the Seabee Gold Mine, while reserves decreased 19 percent at the Santoy 8 Gold Mine. Measured and indicated resources increased to 70,700 ounces at 5.35 grams per tonne from 49,600 ounces at 5.70 grams per tonne, representing a 43 percent increase from 2010. Inferred mineral resources increased to 873,400 ounces at 6.48 grams per tonne from 260,100 ounces at 6.23 grams per tonne in 2010, representing a 236 percent increase in contained ounces year over year. A significant portion of the increases came from the discovery and delineation of the L62 and Santoy Gap deposits. Individually, the L62 deposit added 70,400 ounces to the probable reserve and 40,300 ounces to the inferred resource and the Santoy Gap deposit added 495,000 ounces to the inferred resource. In 2012, the Company has budgeted 130,000 metres of drilling at the Seabee Gold Operation with a focus on continued resource and reserve growth at the Seabee Mine, Santoy 8 and Santoy Gap.