Claude Resources Inc. Completes Sale of 46% Interest in Nokomis Property, Flin Flon, Manitoba to Auriga Gold
TSX – CRJ
NYSE Amex – CGR
SASKATOON, Nov. 22, 2011 /PRNewswire/ – Claude Resources Inc. (TSX:CRJ)
(NYSE:CGR) (Amex:CGR) (“Claude” or the “Company”) announces that it has
completed the sale to Auriga Gold Corp. (“Auriga Gold”) of 46% minority
interest in the Nokomis property, which was previously announced on
November 3, 2011. Prior to the acquisition, Auriga Gold held a 54%
interest in the Nokomis property, which is contiguous to the Puffy Lake
Property, part of the Maverick Gold Project. The 2,200 hectare,
Nokomis property comprises 39 staked claims and is located less than 8
kilometres northeast of the Puffy Lake Mill, near Flin Flon, Manitoba.
Under the terms of acquisition, Auriga Gold has issued to Claude
3,428,571 common shares of Auriga Gold at an issue price of $0.35 per
share. This represents approximately 7.8% of the outstanding shares of
Auriga Gold. The issued shares are subject to a hold period of four
months from November 14, 2011.
About Claude Resources Inc.
Claude Resources Inc. is a gold producer with shares listed on both the
Toronto Stock Exchange (TSX-CRJ) and the NYSE Amex (NYSE Amex-CGR).
The Company is also engaged in the exploration and development of gold
mineral reserves and mineral resources. The Company’s entire asset base
is located in Canada. Its main revenue generating asset is the 100
percent owned Seabee gold operation, located in northern Saskatchewan.
Since 1991, Claude has produced over 962,000 ounces of gold from the
Seabee Gold Operations. Claude 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
Property 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. 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. 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
SOURCE CLAUDE RESOURCES INC.