Claude Resources Announces 22,000 meter Underground Drill Program at Madsen, Red Lake

Claude Resources Inc. will continue its underground drill program, targeted at the historic high grade 8 Zone, and concurrently execute its surface exploration program at the Company’s Madsen property located at Red Lake, Ontario.

Phase 1 of the underground program, launched from the 10th level in December 2008, is targeting the 8 Zone system with 12,000 meters of drilling. The program will utilize directional drilling technology and consist of a minimum of 3 mother holes, with up to 20 daughter holes. Phase 1 will include detailed testing (25 to 50 meter centers) of the plunge extension within 150 meters of infrastructure, widely-spaced testing (50 to 100 meter centers) of the plunge and strike extensions to 400 meters and drilling of conceptual targets along the 8 Zone shear system. It is envisaged the program will operate through the second quarter of 2009.

Phase 2, to be launched in the second half of 2009, will target infill-drilling of the 8 Zone to 250 meters on-plunge from infrastructure as well as the testing of conceptual targets on strike and on plunge. The 10,000 meter Phase 2 component of the underground program is expected to operate until the end of 2009.

The 8 Zone was discovered in 1969 and produced through to mine closure in 1976 between the 23rd and 27th levels. Underground mapping and historic documentation shows a series of high-grade, quartz-vein systems and silicification associated with a complexly-folded package of mafic and ultramafic lithologies. Historic drilling immediately above and below the 27th level, the deepest production level, returned drill intercepts including 0.81 oz/ton over 14.4 feet, 2.76 oz/ton over 6.6 feet, 2.22 oz/ton over 3 feet and 1.25 oz/ton over 3 feet.

“The launch of the 8 Zone underground drill program has been a critical step in the ongoing advanced exploration project at Madsen. When combined with existing discoveries from the 2008 surface drill program at the Fork Zone and Starratt-Olsen, and the surface drill program planned for 2009, this promises to be an exciting year at Madsen,” stated Brian Skanderbeg, Vice-President Exploration, Claude Resources Inc.

In addition to the underground program, Claude will undertake a 10,500 meter surface exploration program testing three target areas. Drilling at the Fork Zone will include a 3,000 meter, 15-hole, infill program. 2008 drilling indicated the target hosts two sub-parallel, moderately, southeast-dipping shear systems that host southwest plunging ore-shoots. The potential of the target is highlighted by drill intercepts including 0.61 oz/ton over 33.89 feet and 0.90 oz/ton over 8.86 feet (see Media Releases: April 16th and December 11th, 2008). The mineralized shear systems have been intercepted over a strike length in excess of 450 meters and remain open along strike and at depth.

In addition, Claude Resources will undertake a five hole, 2,500 meter surface program evaluating an up-plunge 8 Zone target as well as a 5,000 meter, 20-hole program at Starratt Olsen. The potential of the Starratt-Olsen footwall environment was highlighted by the discovery of several, narrow high-grade vein systems that returned intercepts of 5.97 oz/ton over 1.35 feet and 0.86 oz/ton over 1.90 feet in hole ST-08-03 (see Media Release: April 8th, 2008). Assay results from 13 follow-up holes completed during late 2008 are expected in early Q1.

Throughout the course of the 2009 Madsen exploration program, the dewatering of the shaft will continue. The dewatering program was launched from the sixth level and in December 2008, passed the twelfth level. Madsen is an advanced exploration property containing extensive infrastructure including a 500 tonne per day mill with expansion capacity, a permitted tailings management facility and a five compartment 4,000 foot operating shaft.

“Claude’s management is enthused about the potential of this major drilling program. With the extensive infrastructure at the Madsen site and strong working capital, we are well-positioned to take advantage of this opportunity,” stated Neil McMillan, President and Chief Executive Officer of Claude Resources.

A Madsen property location map and schematic cross section of the Madsen mine are available on the Claude website.