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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 (181)	3/12/1999 9:23:00 AM
From: Gord Bolton	Respond to of 359

Good Morning DD, I think the answer lies in the murky world of accounting and taxation. The mine is in testing and startup until they announce that it is "in production". At that point in time certain taxation obligations kick in. Any gold produced at Madsen to date will be applied against start up costs I believe. Should be news on full production soon I would expect. Also looking for assay results from SeaBee and Madsen.

To: Enigma who wrote (181)	3/12/1999 10:27:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 359

Claude Resources Inc. West McVeigh Plunge Projection Confirmed SASKATOON, March 12 /CNW/ - Claude Resources Inc. is pleased to announce the following interim results from its West McVeigh drilling program at the Madsen Mine in northwestern Ontario. Drilling to date from a station on the 4th Level (212m below surface) has totalled 10,480 feet (3195m) in nineteen holes. Results are reported for the eleven drill holes for which assay data are available. This phase of drilling was designed to evaluate the potential extension of known mineralization between the 2nd and 6th Levels. Although assessment of the zone's full extent must await the program's completion, drilling to date has confirmed the persistence of the gold-bearing system down its plunge projection. The ensuing intervals reported possess grades and widths consistent with intervals recorded up plunge between Surface and the 2nd Level. The ratio of successful hits to misses is interpreted as encouraging. << West McVeigh Intersections (2nd - 6th Levels) ------------------------------------------------------------------------- Hole No. Intersection Coordinates Core g/tonne Comments Length Uncut Zone (m) ------------------------------------------------------------------------- Easting(m) Northing(m) Elevation(m) ------------------------------------------------------------------------- 4m147 4041.3 2669.6 1370.3 4.1 5.83 Main 4041.3 2686.3 1379.8 3.8 3.77 FW 4m148 4047.0 2667.7 1327.9 1.7 0.34 Main 4m149 4038.7 2661.6 1377.1 10.9 1.03 FW 4038.7 2630.5 1354.6 1.8 4.46 Main 4m150 4046.7 2667.2 1345.6 5.5 5.49 Main 4m151 4036.7 2665.8 1329.2 1.3 5.49 Main 4036.6 2675.6 1330.2 0.4 6.17 FW 4m152 4028.3 2666.0 1364.1 1.6 18.17 Main 4m153 4026.8 2669.5 1336.0 3.1 1.03 Main 4m154 4019.7 2666.3 1342.0 0.6 5.49 Main 4018.4 2672.6 1344.0 0.7 6.51 FW 4m158 4017.7 2658.3 1273.3 0.6 18.86 Main 4012.2 2681.8 1263.0 0.9 5.14 FW 4m159 4011.0 2637.2 1265.2 1.8 1.03 Main 4004.9 2650.9 1261.9 0.4 4.46 FW 4m163 3935.2 2712.3 1222.0 3.7 0.34 ------------------------------------------------------------------------- >> Note: Intersections are reported as actual cored intervals and quoted in grams per tonne Au. The Madsen Mine operates on the Imperial measurement system; results herein are converted to Metric units. All assays for this program were done by the mine's onsite analytical facility. %SEDAR: 00000498E -30- For further information: Arnie E. Hillier, Vice Chairman, CEO, CFO, Neil McMillan, President, (306) 668-7505