Claude Resources, Inc. (fka CLGRF)

[flemsnopes]

Claude Enters Into Royalty Transaction with Orion Mine Finance
March 20, 2014 - Saskatoon, Saskatchewan, Canada: Claude Resources Inc. (“Claude” and or the “Company”)
(TSX: CRJ; OTCQB: CLGRF) today announced that it has completed a Net Smelter Return (“NSR”) royalty agreement
with Orion Mine Finance Fund (“Orion”) on the Seabee Gold Operation for proceeds of U.S. $12 million for a three (3)
percent NSR.
Neil McMillan, President and CEO stated, “Orion’s partnership comes at a pivotal time for Claude and specifically for
the Seabee Gold Operation as we move the Santoy Gap into our production profile. Orion’s confidence in our
long-term plan demonstrates the opportunities that exist at the Seabee Gold Operation to increase production,
margins and, in turn, shareholder value. The combination of the royalty proceeds and the sale of the Madsen Gold
Project provide the Company with the financial strength to execute on our long-term plan.”
Transaction Summary
Under the terms of the NSR, Claude will receive U.S. $12 million for a three (3) percent NSR on production from the
Seabee Gold Operation. The NSR provides Claude with the option to repurchase half or 1.5 percent of the 3 percent
NSR for U.S. $12 million, expiring on December 31, 2016. The NSR payments will be paid quarterly in cash or in
physical gold at the average price of gold in each calendar month.
The use of proceeds from the transaction will be used for further development at the Seabee Gold Operation and for
general working capital purposes.
Medalist Capital Ltd has acted as advisor to Claude with respect to the NSR purchase.
Claude Resources Inc. is a public company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto
Stock Exchange (TSX: CRJ) and the OTCQB (OTCQB: CLGRF). Claude is a gold exploration and mining company with
an asset base located entirely in Canada. Since 1991, Claude has produced over 1,000,000 ounces of gold from its
Seabee Gold Operation in northeastern Saskatchewan. The Company also owns 100 percent of the Amisk Gold
Project in northeastern Saskatchewan.

For further information please contact:
Neil McMillan, President & CEO
Phone: [phone]
or
Marc Lepage, Manager, Investor Relations
Phone: [phone]
Email:[e-mail]
Website: www.clauderesources.com