Claude Resources Inc. has three Canadian gold projects - Seabee, Amisk and Madsen - that each host over 1 million ounces of gold and have the potential to produce over 100,000 ounces per year. The company expects to increase annual gold production at Seabee by 10-15% per year over the next 5 years to exceed 90,000 ounces by 2017 through increased reserves, new discoveries, improved infrastructure and development. Claude also continues to grow its resource base at a finding cost below the industry average as it focuses on exploration and advancing its projects.

1. Why Invest in
Claude
Resources Inc.?
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2. Canadian Focused
Claude Resources Inc.
has three Canadian Gold
Projects: Seabee, Amisk
and Madsen.
Each project hosts over
1 million ounces of gold A M ISK P ROJECT
and each has the S E A BE E M IN E
potential to produce M A D SEN
over 100,000 ounces
per year.
All of our assets are located in safe, politically stable provinces where mining is a widely accepted
practice and an industry that many people are proud to have a career in.
The Fraser Institute has consistently ranked Canada among the top mining jurisdictions in the
world. In 2011/12, Saskatchewan was ranked 6th and Ontario was ranked 13th out of 93 mining
jurisdictions in the world for the best place to mine.*
(*Source: Fraser Institute Annual Survey of Mi ning Companies 2011/2012)
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3. Increasing Production
The Company expects to increase gold By 2017, Claude expects annual gold
production by 10-15% per year over the next 5 production to exceed 90,000 ounces, an
years at the Seabee Gold Operation. increase of 80% over the next 5 years.
In 2012, the Company completed the mill
upgrade and a camp expansion and the shaft Increasing Production & Decreasing Cash Costs
extension was completed in Q1 2013. These 100,000 $1,200
initiatives will enable Claude to increase 90,000
production significantly over the next 5 years. 80,000
$1,000
70,000
$800
Key drivers to increase production: 60,000
• Increased reserve & resource base 50,000 $600
40,000
• New, near infrastructure discoveries: L62 and $400
30,000
Santoy Gap
20,000
• Improved mining infrastructure $200
10,000
• Increased underground development 0 $0
2012 2013 2014 2015 2016 2017
Ounces Produced Cost per Ounce
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4. Growing Resource Base
Claude has an exceptional record of low-
cost reserve & resource base growth. This Resource Base
4,500,000
demonstrates the ability of our exploration
team, the strength of the exploration 4,000,000 355,600 311,100
program and the quality of the Company’s
3,500,000
exploration assets.
3,000,000
1,919,600
The industry average finding cost per 352,600
2,193,200
2,500,000 Proven &
ounce is approximately $35* while our Probable
finding costs have averaged $18 over the 2,000,000 Measured &
208,200
past 5 years. 1,576,300 Indicated
1,500,000 Inferred
1,135,200
We continue to focus on exploration 1,000,000
1,815,400
around our Seabee Gold Operation while 219,000 1,545,400
500,000 196,000 976,300
advancing the Amisk and Madsen Gold 617,000
391,000
Projects. 0
2008 2009 2010 2011 2012
(*Source: Mi nex Consulting Pty Ltd.)
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5. Increasing Cash Flow & Net Profit
Cash Flow From Operations Before
Net Changes in Non-Cash Net Profit (Loss)
Operating Working Capital (1) ($ millions)
($ millions)
$10.0 $6.0
$9.0
$5.0
$8.0
$7.0 $4.0
$6.0 $3.0
$5.0
$2.0
$4.0
$3.0 $1.0
$2.0
$0.0
$1.0
$0.0 -$1.0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2011 2011 2011 2012 2012 2012 2012 2011 2011 2011 2011 2012 2012 2012 2012
Q4 2012: $9.4 million Q4 2012: $2.4 million
(1) See description and reconciliation of this performance measure in the “Other Performance Measures” section of the Company’s MD&A.
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6. Why Invest in Gold?
• Demand & Supply
– Long lead times in gold mining mean production of gold is relatively inelastic, regardless of increases in demand.
That’s why the rally in the gold price since 2001 has not resulted in a meaningful increase in gold production
levels.
– Demand for gold has shown sustained growth recently, due at least in part to rising income levels in key markets.
• Portfolio Diversification
– Diversifying your portfolio can offer added protection against fluctuations in the value of any single asset or group
of assets. Risk factors that may affect the gold price are quite different in nature from those that affect other
assets. Statistically, portfolios containing gold are generally more robust and less volatile than those that do not.
• Inflation Hedge
– Market cycles come and go, but over the long term, gold retains its purchasing power. Gold’s value, in terms of
real goods and services that it can buy, has remained remarkably stable for centuries. In contrast, the purchasing
power of many currencies has generally declined, due for the most part to the rising price of goods and services.
• Currency Hedge
– Gold is employed as a hedge against fluctuations in currencies, particularly the U.S. dollar. If the world’s main
trading currency appreciates, the dollar gold price generally falls, and vice versa. For this reason, gold has
consistently proved to be one of the most effective assets in protecting against dollar weakness.
• Risk Management
– Gold is significantly less volatile than most commodities and many equity indices. It tends to behave more like a
currency. Assets with low volatility will help to reduce overall risk in your portfolio, adding a beneficial effect on
expected returns.
(Source: World Gold Council “Why Invest”)
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7. If you need more reasons on why to invest,
please contact us at 306-668-7505 or at
ir@clauderesources.com.
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8. Cautionary Statement
Cautionary Note Regarding Forward-Looking Information
This document contains certain forward-looking statements relating but not limited to the Company’s expectations, intentions, plans and
beliefs. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”,
“plan”, “intent”, “estimate”, “may” and “will” or similar words suggesting future outcomes or other expectations, beliefs, plans,
objectives, assumptions, intentions or statements about future events or performance. Forward-looking information may include reser ve
and resource estimates, estimates of future production, unit costs, costs of capital projects and timing of commencement of operations,
and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to
differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reser ves,
the grade and recover y of mined ore varying from estimates, capital and operating costs var ying significantly from estimates, delays in
obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual results to differ materially from expected results.
Potential shareholders and prospective investors should be aware that these statements are subject to know n and unknown risks,
uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking
statements. Shareholders are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility
that the predictions, forecasts, projections and various future events will not occur. Claude Resources undertakes no obligation to update
publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors
which affect this information, except as required by law.
Cautionary note to U.S. investors concerning resource estimate
The resource estimates in this document were prepared in accordance with National Instr ument 43-101, adopted by the Canadian
Securities Administrators. The requirements of National Instr ument 43-101 differ significantly from the requirements of the United States
Securities and Exchange Commission (the “SEC”). In this document, we use the terms “measured”, “indicated” and “inferred” resources.
Although these terms are 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 as a reserve unless the determination has been made that the mineralization could be
economically and legally extracted at the time the determination is made. United States investors should not assume that all or any
portion of a measured or indicated resource will ever be conver ted into “reserves”. Fur ther, “inferred resources” have a great amount of
uncertainty as to their existence and w hether they can be mined economically or legally, and United States investors should not assume
that “inferred resources” exist or can be legally or economically mined, or that they will ever be upgraded to a higher category.
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9. Claude Resources Inc.
Experience. Stability. Potential.
Creating the Capacity to
Discover. Develop. Deliver.
TSX: CRJ NYSE MKT: CGR
200, 224 - 4th Avenue South
Saskatoon, Saskatchewan, S7K 5M5
Canada
P. 306.668.7505
F. 306.668.7500
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