Claude Resources Inc. engages in the acquisition, exploration, and development of precious metal properties, as well as production and marketing of minerals in Canada. It primarily explores for gold in northern Saskatchewan and northwestern Ontario. The company holds interests in the Seabee gold mine located at Laonil Lake, northern Saskatchewan; and the Madsen property that consists of 6 contiguous claim blocks totaling approximately 10,000 acres, located in the Red Lake Mining District of northwestern Ontario. It also holds interest in the Amisk Gold project, which covers an area of 13,800 hectares in the province of Saskatchewan.

8.11.2011: Claude Resources Inc. today reported its second quarter financial and operating results. For the quarter ended June 30, 2011, the Company recorded net profit of $5.2 million, or $0.03 per share. This compares to a net profit of $2.2 million for the comparable period in 2010, or $0.02 per share. For the six months ended June 30, 2011, the Company recorded net profit of $7.0 million, or $0.05 per share. This compares to a net profit of $0.6 million, or $0.00 per share, for the comparable period in 2010. Speaking today in Saskatoon, President and Chief Executive Officer Neil McMillan stated, "The Seabee Operation continues to improve on both the mining and exploration fronts. As Seabee provides positive free cash flow, the Company is able to invest in more regional exploration, which to date has been very successful. The two major capital projects at Seabee, the shaft extension and mill expansion, are ongoing and are expected to allow Seabee to decrease unit cash costs and increase production. Exploration at Madsen has progressed as expected. In the second quarter, a second drill rig was added on the 16th level in the Madsen Mine to target the down plunge and strike extensions of the known high grade 8 Zone. The Phase II exploration program at Madsen will continue through the balance of this year and into 2012. The Company balance sheet is excellent and allows the Company to aggressively develop and explore at all three projects." Financials On January 1, 2011, the Company transitioned to the International Financial Reporting Standards ("IFRS"). The new accounting policies under IFRS have been used in this quarter's information and related quarterly information for comparative purposes. Further details regarding IFRS can be found in the Company's Q2 2011 Management Discussion &Analysis available on Sedar ( www.sedar.com ). For the three months ended June 30, 2011, cash flow from operations (1) before net changes in non-cash working capital improved 66 percent to $8.3 million, or $0.05 per common share, from $5.0 million, or $0.04 per common share, in the second quarter of 2010. Year to date, cash flow from operations before net changes in non-cash working capital improved 103 percent to $12.2 million, or $0.08 per common share, from $6.0 million, or $0.05 per common share, during the same period in 2010. (1) For an explanation of non-IFRS performance measures refer to "Non-IFRS Performance Measures" in the Company's MD&A filed on www.sedar.com . Gold revenue from the Company's Seabee Gold Operation for the quarter ended June 30, 2011 increased 20 percent to $18.2 million from $15.2 million reported in the second quarter of 2010. The increase in gold revenue was attributable to a slight increase in gold sales volume (Q2 2011 - 12,418 ounces; Q2 2010 - 12,188 ounces) and an 18 percent improvement in Canadian dollar gold prices realized (Q2 2011 - $1,469 (U.S. $1,518); Q2 2010 - $1,247 (U.S. $1,213)). Gold revenue for the first six months of 2011 increased 24 percent to $31.6 from $25.4 million reported in the first six months of 2010. This increase was attributable to higher gold sales volume (2011 - 21,879 ounces; 2010 - 21,078 ounces) and a 20 percent improvement in Canadian dollar gold prices realized: YTD 2011 - $1,443 (U.S. $1,477); YTD 2010 - $1,205 (U.S. $1,165). Total Canadian dollar cash cost per ounce of gold (1) for the second quarter increased two percent to CDN $717 (U.S. $741) per ounce from CDN $704 (U.S. $685) in the second quarter of 2010. Year to date in 2011, total cash cost per ounce of CDN $807 (U.S. $826) per ounce was relatively unchanged from per ounce costs reported in 2010. During the first half, cash operating cost per ounce was negatively impacted by the 6 day shut down during the first quarter of 2011.