GOLD EXPLORATION: Drilling at Madsen intersects bonanza grades

ONTARIO — Claude Resources of Saskatoon has intersected bonanza grades, over 4 oz of gold per ton, while diamond drilling at its Madsen gold project near Red Lake. The highest grades so far were 141.80 g/t over 0.75 metres and 127.12 g/t over 0.75 metres. Visible gold was present in these and other holes.

The former producer is being rehabilitated ahead of underground exploration. The shaft has been dewatered down to the 14th level. When the 16th level is dewatered, probably during the second half of 2010, exploration will move to that level as part of the second phase of deep drilling the 8 Zone Trend.

The Madsen property includes a 500-t/d mill. Details are posted at www.ClaudeResources.com.