MERGER: Claude Resources ups interest in Amisk project

SASKATCHEWAN - Claude Resources of Saskatoon has completed the acquisition of St. Eugene Mining Corp. of Toronto. Claude acquired all the issued and outstanding common shares of St. Eugene in exchange for the issuance of approximately 9.6 million Claude shares. Et. Eugene shareholders also received 0.25 of a common share of Satori Resources.

Claude has boosted its ownership of the Amisk gold property, one of the largest land positions in the prolific Flin Flon, MB, mineral district, from 65% to 100%. The Amisk property is located 20 km southwest of Flin Flon, in the province of Saskatchewan. The project is suitable for bulk open pit mining of the gold and silver deposit. Claude also assumes ownership of the Tartan Lake gold project in Manitoba, also near Flin Flon.

Resources at Amisk contain 1.57 million AuEq ounces. That includes an indicated resource of 30.15 million tonnes grading 0.85 g/t Au and an inferred resource of 28.65 million tonnes grading 0.64 g/t Au.

In 2012, Claude will recalculate the resources, conduct a preliminary economic assessment and advance exploration on the property. Additional information about the results of this work will be posted at ClaudeResources.com.