Claude Res Inc CLGRF

Amisk News Release

[Wortep]

Claude Resources Inc. Provides Drilling Update on the Amisk Gold Project, SK

"Intercepts 1.88 grams of Gold per Tonne over 24.61 Metres"

Trading Symbols
TSX - CRJ
NYSE Amex - CGR

SASKATOON, Oct. 11, 2011 /PRNewswire/ - Claude Resources Inc.("Claude") is pleased to provide an update from its 2011 explorationprogram at the 15,400 hectare Amisk Gold Project in northeasternSaskatchewan, Canada. The Amisk Gold Project is located 20 kilometressouthwest of Flin Flon, Manitoba and is a 65:35 Joint Venture betweenClaude and St. Eugene Mining Corporation. Claude is the operator of theJoint Venture.

A total of 18 holes and 5,500metres have been drilled to date in 2011 with assays returned for 14 ofthe holes. The program tested from surface to in excess of 250 metresdepth and was designed to expand the limits of the Amisk Gold Depositas well as infill within the northern and eastern portion of thedeposit.

Highlights of the drilling include 1.88grams of Au per tonne and 12.4 grams of Ag per tonne over 24.61 metresin hole AL-11-301 and 0.51 grams of Au per tonne and 2.5 grams of Agper tonne over 89.75 metres in AL-11-306. Mineralizationintercepted in the drilling is consistent with the current resourcemodel and is associated with a sequence of quartz porphyritic,rhyolitic lapilli tuffs and basaltic tuffs hosting disseminations andstringers of pyrite, sphalerite, galena, tetrahedrite and chalcopyrite.Fourteen drill holes successfully confirmed continuity of goldmineralization within the northern and eastern portion of the depositas well as demonstrated the potential for expansion to the east andsoutheast. Four holes have also been completed evaluating thecontinuity of the system to depths in excess of 600 metres. Results areanticipated later in the fourth quarter.

"The2011 Amisk drill program successfully confirmed mineralization withinthe current resource model and demonstrates the potential for growth,"stated Brian Skanderbeg, Vice President Exploration.

 Table 1: 2011 summer andfall drill results from the Amisk Gold    

Project.    

    

Hole Easting Northing Az/Dip From To (m) Length Au Ag    

(m) (m) (g/t) (g/t)    

    

AL-11-300 676827 6066224 80/-45 50.00 59.00 9.00 1.50 9.2    

    

and 188.00 244.50 56.50 0.58 3.5    

    

AL-11-301 676875 6066233 80/-45 150.00 171.00 21.00 1.15 6.7    

    

and 205.00 229.61 24.61 1.88 12.4    

    

AL-11-302 676910 6066380 80/-45 96.00 104.51 8.51 1.14 4.5    

    

AL-11-303 676910 6066380 283/-45 18.00 44.00 26.00 1.02 4.3    

    

AL-11-304 676910 6066380 0/-90 93.41 131.00 37.59 0.55 2.8    

    

AL-11-305 676900 6066330 80/-45 175.47 183.50 8.03 1.16 6.2    

    

AL-11-306 676885 6066283 80/-45 40.25 130.00 89.75 0.51 2.5    

    

AL-11-307 676921 6066430 80/-45 NSI     

    

AL-11-308 676921 6066430 285/-45 NSI     

    

AL-11-309 676900 6066480 283/-45 18.92 19.92 1.00 5.31 13.1    

    

AL-11-310 676900 6066480 0/-90 NSI     

    

AL-11-311 676900 6066480 283/-60 NSI     

    

AL-11-312 676877 6066141 70/-45 69.50 96.00 26.50 0.44 1.5    

    

and 108.00 132.00 24.00 0.51 0.9    

    

and 191.15 220.00 28.85 0.67 2.8    

    

AL-11-313 676838 6066035 105/-45 37.85 54.00 16.15 1.02 7.4    

    

and 125.00 147.00 22.00 0.54 7.6    

    

and 185.00 204.00 19.50 0.65 2.3    

    

and 239.47 276.00 36.53 0.61 2.9    

    

AL-11-314 676835 6066052 90/-45 141.00 164.00 23.00 0.76 2.8    

    

Note: Intervals noted are intercepted width not true width, have    

been calculated using a 0.3 g/tonne cut-off and are uncut. True    

width is variable between 80 and 100 percent of drilled width.     

They may include internal dilution intervals of up to 6 metres. NSI    

(No significant Intercept).    

    

    

  

In addition to exploration efforts at the AmiskProject, Claude is aggressively drilling the Santoy Gap and L62 targetsat its wholly-owned Seabee Project as well as Phase II undergrounddrilling at the Madsen Property in Red Lake. The Phase II Madsenprogram is designed to test depth and strike extensions to high grademineralization within the 8 Zone Trend.

Alocation map of the Amisk Gold Project and a detailed plan map showingcurrent drill results can be viewed at Claude's website www.clauderesources.com.

Claude Resources holds approximately 9.7 percent interest in St.Eugene's issued and outstanding common shares as of September 9(th),2011.

Claude Resources Inc. is a public companybased in Saskatoon, Saskatchewan, whose shares trade on the TorontoStock Exchange (TSX-CRJ) and the NYSE Amex . Claude is a goldexploration and mining company with an asset base located entirely inCanada. Since 1991, Claude has produced over 950,000 ounces of goldfrom its Seabee mining operation in northeastern Saskatchewan. TheCompany also owns 100 percent of the 10,000 acre Madsen Property in theprolific Red Lake gold camp of northwestern Ontario and has a 65percent working interest in the Amisk Gold Project in northeasternSaskatchewan.

Brian Skanderbeg, P.Geo. andM.Sc., Claude's Vice-President Exploration, is the Qualified Person whohas reviewed and approved the contents of this news release. Drill corewas halved with samples averaging 1.5 metres submitted to ALS Chemex inVancouver, an ISO approved facility. Rigorous quality assurance andquality control procedures have been implemented including the use ofblanks, standards and duplicates. Core samples were analyzed by a 30gram gold fire assay with an atomic absorption, conventionalgravimetric and/or screen fire techniques.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This Press Release may contain 'forward-looking' statements regardingthe plans, intentions, beliefs and current expectations of the Company,its directors, or its officers with respect to the future businessactivities 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 theCompany, or its management, are intended to identify suchforward-looking statements. Investors are cautioned that any suchforward-looking statements are not guarantees of future businessactivities or performance and involve risks and uncertainties, and thatthe Company's future business activities may differ materially fromthose in the forward-looking statements as a result of various factors.Such risks, uncertainties and factors are described in the periodicfilings with the Canadian securities regulatory authorities, includingthe Company's Annual Information Form and quarterly and annualManagement's Discussion & Analysis, which may be viewed on SEDAR atwww.sedar.com.Should one or more of these risks or uncertainties materialize, orshould assumptions underlying the forward-looking statements proveincorrect, actual results may vary materially from those describedherein as intended, planned, anticipated, believed, estimated orexpected. Although the Company has attempted to identify importantrisks, uncertainties and factors which could cause actual results todiffer materially, there may be others that cause results notanticipated, estimated or intended. The Company does not intend, anddoes not assume any obligation, to update these forward-lookingstatements.

CAUTIONARY NOTE TO US INVESTORS CONCERNING RESOURCES ESTIMATES

The resource estimates in this document were prepared in accordancewith National Instrument 43-101, adopted by the Canadian SecuritiesAdministrators. The requirements of National Instrument 43-101 differsignificantly from the requirements of the United States Securities andExchange Commission (the "SEC"). In this document, we use the terms"measured," "indicated" and "inferred" resources. Although these termsare 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 asa reserve unless the determination has been made that themineralization could be economically and legally extracted at the timethe determination is made. United States investors should not assumethat all or any portion of a measured or indicated resource will everbe converted into "reserves." Further, "inferred resources" have agreat amount of uncertainty as to their existence and whether they canbe mined economically or legally, and United States investors shouldnot assume that "inferred resources".

CLAUDE RESOURCES INC.

CONTACT: Neil McMillan, President & CEO
Phone: [phone]

Or

Brian Skanderbeg, Vice President, Exploration
Phone: [phone]

Email: [e-mail]
Website: www.clauderesources.com