Claude Resources (CRJ.TSX, AMEX: CGR) announced that Auriga Gold Corp. has
agreed to acquire the 46% minority interest in the Nokomis Property currently
held by Claude. Prior to the acquisition, Auriga Gold held a 54% interest in the
Nokomis Property, which is contiguous to the Puffy Lake Property, part of the
Maverick Gold Project in Canada. The 2,200 hectare, Nokomis property consists of
39 claims and is located less than 8 kilometers northeast of the Puffy Lake
Mill. Highlights: * Under the terms of agreement, Auriga Gold has agreed to
issue to Claude 3.4 million common shares of Auriga Gold at an issue price of
C$0.35 per share * The shares represent approximately 7.8% of Auriga Gold's
outstanding common shares * The issued shares will be subject to a hold period
of four months from the closing date of the definitive agreement * The
transaction is expected to close on or about November 15, 2011 Neil McMillan,
Claude's President and CEO: "This disposition is consistent with Claude's
strategy to streamline our property portfolio while maintaining upside to
project success via participation in Auriga Gold shares." Paolo Lostritto,
National Bank Financial: "We reiterate our Outperform rating and C$3.30 target
on Claude Resources sharesCatalysts continue to be:1) Madsen underground drill
results, 2) Seabee shaft deepening coupled with Santoy ramp up, and 3) more
Amisk drilling."
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