Claude Resources Inc. Completes $57.5 Million Bought Deal Equity Financing

SASKATOON, May 4 /CNW/ --
Trading Symbols


TSX - CRJ  


NYSE Amex - CGR

SASKATOON, May 4 /CNW/ - Claude Resources Inc. (TSX: CRJ) (NYSE Amex: CGR) - Claude Resources Inc. ('Claude' or the 'Company') is pleased to announce that it has completed the short form
prospectus offering (the 'Offering') previously announced on April 6, 2011.

An underwriting syndicate was led by Wellington West Capital Markets
Inc., as co-lead underwriter and sole bookrunner, and NCP Northland
Capital Partners Inc., as co-lead underwriter, and also included
Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities
Inc., National bank Financial Inc., Scotia Capital Inc. and Toll Cross
Securities Inc. (collectively, the 'Underwriters').

The Offering consisted of the issuance of 20,000,000 common shares (the
'Shares') of the Company, on a bought deal basis, at a price of $2.50 per
Share, as well as the issuance of 3,000,000 Shares of the Company, at a
price of $2.50 per Share, to the Underwriters pursuant to the
over-allotment option, for aggregate gross proceeds of $57,500,000.

Claude plans to use the net proceeds of the Offering for the exploration
and development of the Company's projects and for general corporate
purposes.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the '1933 Act'), or any
state securities laws and may not be offered or sold within the United
States absent such registration or an applicable exemption from such
registration requirements.

Claude Resources Inc. is a public company based in Saskatoon,
Saskatchewan, whose shares trade on the Toronto Stock Exchange
(TSX-CRJ) and the NYSE Amex (NYSE Amex-CGR). Claude is a gold
exploration and mining company with an asset base located entirely in
Canada. Since 1991, Claude has produced over 930,000 ounces of gold
from its Seabee mining operation in northeastern Saskatchewan. The
Company also owns 100 percent of the 10,000 acre Madsen property in the
prolific Red Lake gold camp of northwestern Ontario and has a 65
percent working interest in the Amisk Gold Project in northeastern
Saskatchewan.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This Press Release may contain 'forward-looking' statements regarding
the plans, intentions, beliefs and current expectations of the Company,
its directors, or its officers with respect to the future business
activities 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 the
Company, or its management, are intended to identify such
forward-looking statements. Specific forward-looking statements in this
press release include statements regarding the anticipated use of
proceeds. Investors are cautioned that any such forward-looking
statements are not guarantees of future business activities or
performance and involve risks and uncertainties, and that the Company's
future business activities may differ materially from those in the
forward-looking statements as a result of various factors. Such risks,
uncertainties and factors are described in the periodic filings with
the Canadian securities regulatory authorities, including the Company's
Annual Information Form and quarterly and annual Management's
Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward-looking statements prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected. The closing of the Offering could be delayed if the Company
is not able to obtain the necessary regulatory approvals on the
timelines planned. The Offering will not be completed at all if these
approvals are not obtained or some other condition to the closing is
not satisfied. Accordingly there is a risk that the Offering will not
be completed within the anticipated time, or at all. Further, the
intended use of the net proceeds of the Offering might change if the
board of directors determines that it would be in the best interests of
the Company to deploy the proceeds for some other purpose. Although the
Company has attempted to identify important risks, uncertainties and
factors which could cause actual results to differ materially, there
may be others that cause results not anticipated, estimated or
intended. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2011/04/c9210.html

Neil McMillan, President & CEO
Phone: (306) 668-7505
or
Marc Lepage, Manager, Investor Relations
Phone: (306) 668-7505

Email: ir@clauderesources.com
Website: www.clauderesources.com