Trading Symbols: TSX: CRJ; OTCQB: CLGRF
SASKATOON, April 23, 2014 /CNW/ - Claude Resources Inc. ("Claude" and or the "Company") today announced first quarter
production results of 11,344 ounces, representing a 40% increase from
the 8,082 ounces produced in the first quarter in 2013. The grade in
the first quarter also increased significantly by 34% to 5.76 grams per
tonne from the first quarter in 2013.
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Table 1: Seabee Gold Operation Production
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March 31
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March 31
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2014
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2013
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Operating Data
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Tonnes Milled
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64,370
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61,877
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Head Grade (grams per tonne)
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5.76
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4.31
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Recovery (%)
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95.1
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94.3
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Gold Produced (ounces)
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11,344
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8,082
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Mike Sylvestre, Interim President and CEO stated, "Historically, our
first quarter has always been a challenge and 2014 was no different.
While we faced severe and abnormal winter conditions, we were able to
complete the winter re-supply program and have our best first quarter
production results in the last ten years. We have focused on improving
our grades and that initiative is starting to pay off. We expect this
trend to continue and we are confident that the mine grades will
reconcile more closely to our reserve grade for the remainder of the
year."
The Company remains confident in meeting its 2014 production guidance of
47,000 to 51,000 ounces of gold. In addition, the Company continues to
make progress in advancing the Santoy Gap towards production by the
fourth quarter of 2014 by completing the fresh-air vent raise in the
second quarter and continued mine development. The Santoy Gap currently
hosts 266,100 ounces of gold in Mineral Reserves at 5.68 grams per
tonne and is expected to increase production and margins by the
beginning of 2015.
Claude Resources Inc. is a publicly traded gold exploration and mining company based in
Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock
Exchange (TSX: CRJ) and the OTCQB (OTCQB: CLGRF). Its asset base is
located entirely in Canada and since 1991, Claude has produced over
1,000,000 ounces of gold from its Seabee Gold Operation in northeastern
Saskatchewan. The Company also owns 100 percent of the Amisk Gold
Project in northeastern Saskatchewan.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained or
incorporated by reference in this news release and constitute
"forward-looking information" within the meaning of applicable Canadian
securities laws and "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
(referred to herein as "forward-looking statements"). Forward-looking
statements include, but are not limited to, statements with respect to
the future price of gold, the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing and
amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, currency
exchange rate fluctuations, requirements for additional capital,
government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims and
limitations on insurance coverage. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate" or "believes", or the negative
connotation thereof or variations of such words and phrases or state
that certain actions, events or results, "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the negative
connotation thereof.
All forward-looking statements are based on various assumptions,
including, without limitation, the expectations and beliefs of
management, the assumed long-term price of gold, that the Company will
receive required permits and access to surface rights, that the Company
can access financing, appropriate equipment and sufficient labour, and
that the political environment within Canada will continue to support
the development of mining projects in Canada.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Claude to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: actual
results of current exploration activities; environmental risks; future
prices of gold; possible variations in ore reserves, grade or recovery
rates; mine development and operating risks; accidents, labour issues
and other risks of the mining industry; delays in obtaining government
approvals or financing or in the completion of development or
construction activities; and other risks and uncertainties, including
but not limited to those discussed in the section entitled "Business
Risk" in the Company's Annual Information Form. These risks and
uncertainties are not, and should not be construed as being,
exhaustive.
Although Claude has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date
of this news release and accordingly, are subject to change after such
date. Except as otherwise indicated by Claude, these statements do not
reflect the potential impact of any non-recurring or other special
items that may occur after the date hereof. Forward-looking statements
are provided for the purpose of providing information about
management's current expectations and plans and allowing investors and
others to get a better understanding of our operating environment.
Claude does not undertake to update any forward-looking statements that
are incorporated by reference herein, except in accordance with
applicable securities laws.
SOURCE Claude Resources Inc.