GOLD RESOURCE: Reserves growing at Seabee mine

SASKATCHEWAN – Continuing exploration at the Seabee gold project has boosted reserves by 355,600 oz net of mining depletion, reported owner Claude Resources of Saskatoon. The mine and mill are located 125 km northeast of La Ronge.

The company produced 44,760 oz of gold in 2011, and it has issued guidance of 50,500 oz for 2012. Proven and probably reserves now stand at 2.1 million tonnes grading 5.37 g/t Au at the Seabee and Santoy 8 deposits. The measured and indicated resources total 410,900 tonnes grading 5.35 g/t Au in the Seabee, Santoy 8, Porky Main and Porky West deposits. The inferred resource for the previous four deposits plus the Santoy Gap is 4.2 million tonnes at 6.48 g/t Au or 873,400 contained oz of gold.

Thanks to the excellent results from the Santoy Gap deposit, Claude is planning a 130,000-metre drill program this year with eight rigs. About half the drilling will be done at Santoy Gap and the remainder at Santoy 8, L62 and the Seabee mine at depth.

More information about the Seabee gold project is available at ClaudeResources.com.