Claude Resources August 2012 Corporate Presentation

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Presented by Neil McMillanPresident & CEO

August 2012

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Cautionary Note Regarding Forward-Looking InformationThis document contains certain forward-looking statements relating but not limited to the Company’s expectations, intentions, plans andbeliefs. 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 reserveand 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 todiffer materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves,the grade and recovery of mined ore varying from estimates, capital and operating costs varying significantly from estimates, delays inobtaining 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 torisks, 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 known and unknown risks,uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-lookingstatements. Shareholders are cautioned not to place undue reliance on forward-looking information. By its nature, forward-lookinginformation involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibilitythat the predictions, forecasts, projections and various future events will not occur. Claude Resources undertakes no obligation to updatepublicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factorswhich affect this information, except as required by law.

Cautionary note to U.S. investors concerning resource estimateThe resource estimates in this document were prepared in accordance with National Instrument 43-101, adopted by the CanadianSecurities Administrators. The requirements of National Instrument 43-101 differ significantly from the requirements of the United StatesSecurities 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. miningcompanies, in their filings with the SEC, to disclose only those mineral deposits that constitute “reserves”. Under United Statesstandards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could beeconomically and legally extracted at the time the determination is made. United States investors should not assume that all or anyportion of a measured or indicated resource will ever be converted into “reserves”. Further, “inferred resources” have a great amount ofuncertainty as to their existence and whether they can be mined economically or legally, and United States investors should not assumethat “inferred resources” exist or can be legally or economically mined, or that they will ever be upgraded to a higher category.

Cautionary Statement

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Claude Resources Inc. has three Canadian Gold Projects: Seabee, Amisk and Madsen.

Each project is expected to host multi-million ounce ore bodies and has the potential to produce over 100 thousand ounces per year.

What is Claude All About?

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Corporate Overview

Stock Exchanges:TSX CRJNYSE MKT CGR

Shares Outstanding (June 30, 2012):Basic 173.7 millionFully Diluted 183.2 million

Market Cap $115 million CDN(August 13, 2012)

Analyst Coverage:Brian Christie Desjardins SecuritiesCosmos Chui CIBCPaolo Lostritto National BankRon Stewart Dundee SecuritiesSam Crittenden RBC

Cash & Short Term Investments: ($1.6 million) (June 30, 2012)

Debt (June 30, 2012):Short Term $18.2 millionLong Term $1.0 million

Cash Costs per Ounce:Q2 2012 $1,082 CDN

$1,071 US

TSX:52 Week High $2.3652 Week Low $0.55Avg. Volume 300,000

NYSE MKT:52 Week High $2.3752 Week Low $0.56Avg. Volume 400,000

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Focused on Growth

Great Risk vs. Reward Investment Opportunity Cash flow from operations and net earnings from Seabee Operation Significant exploration upside at all three projects Experienced management team

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10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Prod

uctio

n O

unce

s

Increasing Seabee Gold Production(2007-2016)

806,000 735,000 662,0001,300,000

1,225,000 1,225,000

1,225,000

1,018,000

1,566,000

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1000000

1500000

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3000000

3500000

4000000

4500000

2008 2009 2010 2011

Resource Base

Amisk

Madsen

Seabee

0.81 Moz

1.96 Moz

2.91 Moz

4.09 Moz

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AMISK PROJECT

Operations & Projects

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Seabee Gold Operation

• 100% ownership • 14,400 hectare property• Produced over 1,000,000 ounces of gold from 1991 to 2012• 1.30 million ounces in NI 43-101 reserve & resources• Full infrastructure including a 1,050 tonne per day mill• Two producing mines: Seabee Gold Mine and the Santoy 8 Gold Mine • Exploration focused on Santoy Gap, L62, Santoy 8, Seabee Deep, and Neptune

110,700 metre exploration program planned for 2012

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Seabee Property

Seabee Property: 14,400 Hectares

• Established fully-permitted infrastructure• Underexplored productive belt• $5.9 M, 50,700m regional exploration in 2012

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L62 MRMRP & P Reserve – 70,400 Oz @ 7.62 g/tInf Resource – 40,300 Oz @ 7.57 g/t

Seabee Total MRMRP & P Reserve – 224,900 Oz @ 6.58 g/t

Resource – 178,800 Oz @ 6.83 g/t

Seabee Mine

• L62 deposit discovery 200 m

from infrastructure

• Open up-dip to surface

• Currently developed on 3 levels

Shaft ExtensionQ3 2012 completion

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Santoy 8 & Gap

• Inferred Mineral Resources of 495,000 ounces at 6.63 g/t (NI 43-101 compliant)

• 65 holes completed in 2012 – focused on step-out and infill drilling

• Initiated exploration drift from current mining infrastructure

• Santoy region (Santoy Gap and Santoy 8) resource currently at 777,000 ounces

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Amisk Gold Project

• 100% ownership • 40,373 hectare property• 1.57 million ounces in NI 43-101 resource calculation• Proven mining district and “mining friendly” community• Close to infrastructure • Large bulk mineable potential• Mineralization begins at surface and has been drill tested to approximately 600 metres below surface

NI 43-101 Resource and PEA to be completed in 2H 2012

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Amisk Location

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Amisk Pit Shell

Claude Resources - Amisk Lake Project - Grade - Tonnage Sensitivity Table

Au Eq Cut-OffTotal Resource Indicated Inferred

Tonnage Au Eq (gpt) Au (gpt) Ag (gpt) Total Oz Ind Oz % Inf Oz %

0.30 82,422,879 0.69 0.62 4.35 1,828,471 998,622 55% 824,675 45%

0.40 58,803,225 0.83 0.75 5.11 1,569,171 920,881 59% 644,854 41%

0.50 42,979,475 0.97 0.88 5.85 1,340,368 824,702 62% 512,676 38%

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Madsen Exploration Project

• 100% ownership • 10,000 hectare property• 1.23 million ounces in NI 43-101 resource calculation• Historic production was 2.45 million ounces of gold from 1938 to 1976• Similar type of geology to that of Goldcorp’s Red Lake Assets• All existing infrastructure is fully permitted

23,550 metre exploration program planned for 2012

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Madsen Property

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Madsen Mine TrendExploration is focused on continued testing of the 8 Zone Trend as well as the McVeigh 

and Austin Tuff depth continuity. 

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Madsen Property: Red Lake Camp

Starratt Olsen164,000 oz @ 0.18 opt

Madsen Mine Historic Production2.4 M oz @ 0.30 opt Austin East

UndergroundDrill Chambers

2012 exploration target areas

8 Zone

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Madsen Infrastructure

Modern equipment and facilities:

• 500 ton per day permitted mill

• 5 compartment shaft to 4,125 feet

• Shaft capable of skipping 1,925 tpd

• Permitted tailings facility

Minimal capital required to bring Madsen into production

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Exploration Summary

2012 2012 2011 2011

$ (in millions) Metres $ (in millions) Metres

Seabee $5.90* 50,700 $4.90* 100,000

Madsen $5.40 23,550 $3.85 18,000

Amisk $1.20 3,750 $1.74 10,000

Total $12.50 78,000 $10.49 128,000

*Excluding underground expenditures.

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Rubicon

Kirkland Lake

Average

Non‐producer

Producer

Peer Valuation(as of August 10, 2012)

Mar

ket

Cap/

Oz

*Calculation based on National Instrument 43‐101 ounces 

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Claude Resources Inc.Experience. Stability. Potential.

Creating the Capacity toDiscover. Develop. Deliver.

TSX: CRJ NYSE MKT: CGR

200, 224 ‐ 4th Avenue SouthSaskatoon, Saskatchewan, S7K 5M5Canada

P. 306.668.7505F. 306.668.7500