Claude Resources Inc. Completes PPO

[Franko10 ™]

Claude Resources Inc. Completes
Private Placement Offering

Claude Resources Inc. ("Claude") is pleased to announce that it has completed a private placement offering of 2,500,000 units, each unit consisting of one common share and one half of one common share purchase warrant, at a price of $2.00 per unit, for gross proceeds of $5,000,000. Each whole purchase warrant will entitle the holder, upon exercise at any time up to and including June 22, 2005, and upon payment of $2.50, to subscribe for one common share.

The proceeds of this offering will be used by Claude to expand development at its Seabee gold mine and for general corporate purposes.




For further information please contact:

Neil McMillan
President
306.668.7505
306.668.7500 Fax
[e-mail]



Renmark Financial Communications Inc.
514.939.3989
514.939.3717 Fax
Neil Murray-Lyon [e-mail]

Edith English [e-mail]

Media: Dominic Sicotte [e-mail]