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Gold/Mining/Energy : Claude Resources TSE.CRJ Undervalued Junior Gold Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: Jimsy who wrote (239)	4/6/2000 3:35:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 359

Jimsy, I feel like the guy who packed in the Tiger Hedge funds. I don't know how to value things in todays market. FWIW here is a recent MRDI prefeasibility calculation on a rich little gold mine. The additional adits are essential in the evaluation of this high-grade vein structure as drilling alone will not define the grade sufficiently accurately. The project has currently defined 425,000 ounces in the "indicated" and "inferred" categories in a limited part of a geological resource of 1.8 million ounces, which has a significant potential for further expansion. A March 1999 pre-feasibility study by MRDI (H.A. Simons) estimated for a production rate of 500 tonnes per day and a gold price of US$300/ounce, the following: NPV (10%) US$39.8 million IRR 51% Capital cost US$19.8 million Payback 1.8 years Life of mine 7.2 years Cash cost US$160/ounce Production 148,000 ounces/year Hope this helps.

To: Jimsy who wrote (239)	7/28/2000 8:38:31 AM
From: Gord Bolton	Respond to of 359

I thought that I would repost this 1999 release as the time is drawing near for some results! Claude Resources Plans to Undertake Major Drill Program at Madsen Mine SASKATOON, Sept. 3 /CNW/ - Claude Resources Inc. will initiate a $10 million diamond drilling program at its Madsen property at Red Lake, Ontario, Canada. In conjunction with the drilling program, modifications will be made to the mill to expand its capacity to more than 1,000 tons per day. The decision to proceed with these programs is based on the successful mining and milling of ore from the McVeigh structure and the Company's confidence in its ability to build reserves on the McVeigh and related structures. The drill program will have two objectives: Firstly, the Company intends to develop at least 1,000,000 tons of reserves in the ``upper levels'' of the mine to support a commercially viable 1,000 ton per day milling operation. This program will utilize both surface and underground drills and total 270,000 feet (82,000 metres) costing approximately $5 million. Secondly, Claude intends to delineate the high-grade reserves at depth, including the mafic/ultramafic structure known as the No. 8 zone. The deep reserves will be pursued from a major exploration drift on the 16th level of the Madsen mine and will total 150,000 feet (46,000 metres) of drilling at a cost of approximately $5 million as well. Both drill programs will run concurrently with upper level drilling expected to be completed in 9 to 12 months and the deep program expected to be completed in 12 to 18 months. Starting November 1, 1999, milling will be suspended to accommodate changes to the mill. %SEDAR: 00000498E -30- For further information: Neil McMillan, President, (306) 668-7505