1. 1
Annual General
Meeting
Presented By:
Neil McMillan
President & CEO
May 9, 2013

2. 2
Cautionary Note Regarding Forward-Looking Information
This document contains certain forward-looking statements relating but not limited to the Company’s expectations, intentions, plans and
beliefs. Forward-looking information can often be identified by forward-looking words such as
“anticipate”, “believe”, “expect”, “goal”, “plan”, “intent”, “estimate”, “may” and “will” or similar words suggesting future outcomes or
other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-
looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects and
timing of commencement of operations, and is based on current expectations that involve a number of business risks and uncertainties.
Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to
establish estimated resources and reserves, the grade and recovery of mined ore varying from estimates, capital and operating costs
varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project
approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other
factors. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ
materially from expected results.
Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown
risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking
statements. Shareholders are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility
that the predictions, forecasts, projections and various future events will not occur. Claude Resources undertakes no obligation to update
publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors
which affect this information, except as required by law.
Cautionary Note to U.S. Investors Concerning Resource Estimate
The resource estimates in this document were prepared in accordance with National Instrument 43-101, adopted by the Canadian
Securities Administrators. The requirements of National Instrument 43-101 differ significantly from the requirements of the United States
Securities and Exchange Commission (the “SEC”). In this document, we use the terms “measured”, “indicated” and “inferred” resources.
Although these terms are recognized and required in Canada, the SEC does not recognize them. The SEC permits U.S. mining
companies, in their filings with the SEC, to disclose only those mineral deposits that constitute “reserves”. Under United States
standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be
economically and legally extracted at the time the determination is made. United States investors should not assume that all or any
portion of a measured or indicated resource will ever be converted into “reserves”. Further, “inferred resources” have a great amount of
uncertainty as to their existence and whether they can be mined economically or legally, and United States investors should not assume
that “inferred resources” exist or can be legally or economically mined, or that they will ever be upgraded to a higher category.
Cautionary Statement

3. 3
• The Company’s mission is to create and deliver
outstanding stakeholder value through the
exploration, development, and mining of gold and
other precious metals
• Its vision is to be highly valued by all stakeholders for
its ability to discover, develop and produce gold and
other precious metals in a safe, environmentally
responsible and profitable manner.
Mission & Vision

4. 4
• 3 Canadian gold assets:
– Low risk jurisdictions
– Located in proven mining regions
– Each hosting over 1 million ounces of gold
• 20+ years of operating experience
• Excellent growth potential at Seabee
• Focused on cost reduction initiatives
• Excellent reserve and resource growth potential
near current mining infrastructure
Claude Resources Today

5. 5
Resource Growth
391,000
617,000
976,300
1,815,400
1,545,400
196,000
1,135,200
1,576,300
1,919,600
2,193,200
219,000
208,200
352,600
355,600 311,100
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
2008 2009 2010 2011 2012
Global Resource Base
December 31, 2012
Proven &
Probable
Measured
&
Indicated
Inferred
Reserves:
• Grade 14% to 6.14 g/t from 5.37 g/t.
• Ounces 13% or 44,500 after mining
49,570 ounces in 2012.
• Anticipate significant reserve growth in
2013 from Santoy Gap
Indicated and Measured:
• Grade 46% to 7.82 g/t from 5.35 g/t.
• Ounces 344,200 ozs from 70,700 ozs.
Inferred:
• Ounces 31% as 270,000 ounces from
Santoy Gap was upgraded into the
Measured and Indicated category

6. 6
2012 Highlights
 Net profit of $5.6 million, or $0.03 per share.
 Cash flow from operations* of $25.8 million, or $0.15 per share.
 Cash cost per ounce of gold* for 2012 of $997 (U.S. $998).
 Increased revenue by 16% to $80.8 million.
 Produced 49,570 ounces after achieving a record mill throughput of 275,235
tonnes at 5.86 g/t.
 Mineral Reserves grade at the Seabee Gold Operation increased by 14%.
 Measured and Indicated Resources increased to 344,200 ounces from
70,700 ounces and the grade increased 46% to 7.82 g/t from 5.35 g/t year
over year.
 Expanded debt facilities with Canadian Western Bank and Crown Capital
Partners.
 Surpassed one million ounces of total production at the Seabee Gold
Operation.
 Shaft extension project was completed.
* See description and reconciliation of non-IFRS performance measures in the “Non-IFRS Performance Measures and
Reconciliations” section of the Company’s 2012 Annual MD&A available on www.sedar.com

7. 7
Positive Trends in Production
& Cash Costs
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Ounces Produced
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Cash Cost Per Ounce (*)
(CDN$ per ounce)
Q4 2012: 12,757 ounces Q4 2012: CDN $822
* See description and reconciliation of non-IFRS performance measures in the “Non-IFRS Performance Measures and Reconciliations” section of the
Company’s 2012 Annual MD&A available on www.sedar.com

8. 8
Increasing Revenue &
Continued Strong Gold Price
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Revenue
($ millions)
$1,250
$1,300
$1,350
$1,400
$1,450
$1,500
$1,550
$1,600
$1,650
$1,700
$1,750
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Average Realized Gold Price
(CDN$ per ounce)
Q4 2012: $21.3 million Q4 2012: CDN $1,668

9. 9
Increasing Cash Flow & Net Profit
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$9.0
$10.0
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Cash Flow From Operations Before
Net Changes in Non-Cash
Operating Working Capital (*)
($ millions)
-$1.0
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Net Profit (Loss)
($ millions)
Q4 2012: $2.4 millionQ4 2012: $9.4 million
* See description and reconciliation of non-IFRS performance measures in the “Non-IFRS Performance Measures and Reconciliations” section of the
Company’s 2012 Annual MD&A available on www.sedar.com

10. 10
• During the first and second quarters of 2013, the Company
expanded its debt facilities.
– $25.0 million with Canadian Western Bank (up from
$14.0 million)
– $25.0 million with Crown Capital Partners Inc. (closed on
April 5, 2013)
• The new debt facilities are expected to permit the
retirement of the Company’s outstanding debentures, allow
for the development of Santoy Gap, the Seabee Mine and
for working capital purposes.
Financial Capacity

11. 11
Operations and Projects

12. 12
Seabee Gold Operation
2012 Production
• Met forecast production of 48,000 – 50,000 ounces
of gold with 49,570 ounces
• Unit cash costs of $997 CDN; 10% higher than 2011
unit cash costs of $908 CDN.
• L62 Zone production tonnage began during the
fourth quarter
• Staked an additional 3,350 hectares (total land
package of 17,200 ha)
Exploration Program
• 101,000 metres at Seabee Operation in 2012
o 60,000 metres underground
o 41,000 metres regionally
• 2013 exploration will focus on near-mine targets at
Seabee and Santoy as well as infill drilling.

13. 13
Santoy Gap
• Indicated Mineral Resources of 281,000 ounces at 8.80 g/t (NI 43-101 compliant)
• Inferred Mineral Resources of 357,000 ounces at 5.92 g/t (NI 43-101 compliant)
• Initiated exploration ramp to the Santoy Gap from current mining infrastructure –
currently 485 metres into the 800 metre ramp

14. 14
Amisk Gold Project
• 100% ownership
• 40,373 hectare property
• 1.6 million ounces in NI 43-101 resource
calculation
• Proven mining district and “mining friendly”
community
• Greenfield site is close to infrastructure
• Large bulk mineable potential
• Mineralization begins at surface and has been drill
tested to approximately 600 metres below surface
NI 43-101 Resource and PEA to be completed
in 1H 2013

15. 15
Amisk Location

16. 16
Madsen Gold Project
Project Overview:
• 100% ownership
• 1.23M oz resources (NI 43-101 compliant)
• Historic production of 2.45 million ounces of gold from
1938 to 1976
• 10,000 acre land package
• Fully permitted mill, shaft and tailings management
facility
• Similar type of geology to that of Goldcorp’s Red Lake
Assets
Exploration Program
• 19,000 metres completed in 2012
• Results from the 2012 drill program extended the 8 Zone
system at depth and confirmed conceptual potential
beneath the Austin Tuff.
• The Company is focused on an internal scoping level
analysis of the Madsen Gold Project in 2013.

17. 17
Madsen Property

18. 18
2013 Outlook
• Forecast gold production of 50,000 to 54,0000 ounces
– Approximately 60% from Seabee and 40% from the Santoy 8
• Unit costs are estimated to improve modestly from 2012
cash costs of CDN $997
• Q1 production was lower than budgeted but annual
guidance maintained
• Ongoing cost reduction and cash flow optimization plans

19. 19
Claude Resources Inc.
Experience. Stability. Potential.
Creating the Capacity to
Discover. Develop. Deliver.
TSX: CRJ NYSE MKT: CGR
200, 224 - 4th Avenue South
Saskatoon, Saskatchewan, S7K 5M5
Canada
P. 306.668.7505
F. 306.668.7500
E: ir@clauderesources.com

20. 20
Annual General
Meeting
Presented By:
Neil McMillan
President & CEO
May 9, 2013