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

To: Enigma who wrote (241)	5/15/2000 5:05:00 PM
From: Gord Bolton	Respond to of 359

Here is the beef! Deeper drilling successful at Claude Resource's Seabee mine SASKATOON, May 15 /CNW/ - Underground diamond drilling by Claude Resources Inc. at its Seabee gold mine has substantially expanded its recently discovered 2d zone. Previous work had outlined this structure on the 80, 140 and 190 metre levels at grades and widths above the mine's nine year production average. As announced previously, drilling above the 290-metre level averaged 9.34 grams per tonne (gpt) over 2.37 metres true width in 27 holes. New drilling from the 290-metre level to date has produced three significant intersections near the 350 metre level and one high grade hole at the 500 metre level (vertically below surface). Significant intersections are listed below: << Hole Section (m) Intersect Depth True Width Grade (gpt) U00-60 50E 340 m 7.3m 10.76 U00-74 50E 365 m 5.5m 11.03 U00-75 10E 505 m 2.3m 11.19 U00-76 15E 365 m 1.1m 8.58 >> The 2d vein appears to be uniquely defined by the occurrence of two shear veins hosting massive pyrite. Other drill holes in the program have established the eastern margin of the 2d vein in the upper levels, however the structure remains open on strike and at depth. Intersections reported are length weighted averages of cored intervals assayed at the Seabee mine's onsite facility. As per standard mine practice, all assay values in excess of 75 gpt have been cut to 75 gpt. The Seabee mine has been in continuous production since November 1991 averaging 54,000 ounces per year at a historic grade of 8.90 gpt over average widths of approximately 2 metres. As of March 14, 2000 an independent estimation by A.C.A. Howe International established Seabee reserves and resources at 853,104 tonnes @ 8.56 gpt of reserves and 1,474,000 tonnes @ 8.00 gpt in the resource category. Claude Resources Inc. is listed on the Toronto Stock Exchange under the symbol CRJ. %SEDAR: 00000498E -30- For further information: Philip E. Olson, P. Geo, Vice President Exploration, or Neil McMillan, President, Phone: (306) 668-7505

To: Enigma who wrote (241)	6/18/2000 12:28:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 359

It might be time to buy up some of the loose shares that are available. I understand that CRJ has filed a claim for recovery of some $20,000,000.00 owed to them as a result of errors in calculating royalties from the oil and gas side. The development of the Madsen mine is currently being funded out of earnings from the Seabee. As the POG escalates the development schedual may be stepped up. I understand that there are a growing number of parties showing a keen interest in the Madsen project. Many things are possible in the future. The trading pattern and current share price is much more a reflection of fund managers adjusting their portfolios in accordance with other objectives than a reflection of current and future value. That can all change very quickly if there is a shift in the supply demand ratio--in other words we currently have a buying opportunity of limited duration.