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Q2 Financials Presented By: Neil McMillan President & CEO August 13, 2012

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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

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Q2 2012 Highlights

• Production of 12,166 ounces of gold.

• Net profit of $0.7 million.

• Cash costs decreased to CDN $1,082 from CDN $1,236 in the first

quarter.

• Increased land position at the Amisk Gold Project by staking 14 new

mineral claims covering an additional 16,000 hectares.

• 2 underground rigs and 1 surface rig continued to focus on testing

the 8 Zone Trend as well as the McVeigh and Austin Tuff depth

continuity at the Madsen Gold Project.

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Financial Highlights

3 months ended June 30

2012

3 months ended June 30

2011

Revenues (millions) $20.1 $18.2

Average realized gold price (CDN) $1,633 $1,469

Total cash cost per ounce (CDN) $1,082 $717

Cash flow from operations before net changes in non-cash operating working capital (millions) (1)

$5.3 $8.3

Cash flow per share (1) $0.03 $0.05

(1) For an explanation of non-IFRS performance measures, refer to the “Non-IFRS Performance Measures” section in the Company’s MD&A filed on www.sedar.com.

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Operational Highlights

3 months ended June 30

2012

3 months ended June 30

2011

Gold production (oz) 12,166 12,624

Gold sales (oz) 12,306 12,418

Net profit (millions) $0.7 $5.2

Net profit per share $0.00 $0.03

Cash Operating Costs (CDN$/oz)(2) $1,082 $717

Cash Operating Costs (US$/oz)(2) $1,071 $741 (2) Cash operating cost per ounce of gold is a non-IFRS performance measure. For an explanation of non-IFRS performance measures refer to the “Non-IFRS Performance Measures” section of the Company’s MD&A.

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Financial Position

June 30 2012

Cash and cash equivalents (millions) ($1.6)

Short term debt (millions) $18.2

Long term debt (millions) $1.0

Common shares outstanding, basic (millions) 173.7

Common share outstanding, fully diluted (millions) 183.2

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Operations and Projects

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Seabee Gold Operation

2012 Production • Forecast: 48,000 – 50,000 ounces of gold • The Company anticipates initial production at L62

deposit in the fourth quarter of 2012.

Exploration Program for 2012 • 110,700 metres at Seabee Operation

o 60,000 metres underground (35,000 m completed)

o 50,700 metres regionally (35,000 m completed)

• Focused on continued reserve and resource growth at the Seabee and Santoy 8 Mines and the Santoy Gap and L62 deposits.

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Seabee Property

Seabee Property: 14,400 Hectares

• Established fully-permitted infrastructure • Underexplored productive belt • $5.9 M, 50,700 m regional exploration in 2012

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• Current resources of 495,000 ounces at 6.63 g/t (3 gram cut off)

• 367,000 ounces at 8.75 g/t (5 gram cut off)

• 65 holes completed in 2012 – focused on step-out and infill drilling

• Santoy region (Santoy Gap and Santoy 8) resource currently at 777,000 ounces

Santoy Gap

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Reserve & Resource

Resource Class Zone Tonnes Grade (g/tonne)

Contained Gold (oz)

Proven & Probable Seabee 1,062,900 6.58 224,900

Santoy 8 997,100 4.08 130,600 Total 2,059,900 5.37 355,600 Measured & Indicated Seabee 127,400 4.65 19,000

Santoy 8 12,600 5.04 2,000 Porky Main 160,000 7.50 38,600 Porky West 111,000 3.10 11,000 Total 410,900 5.35 70,600 Inferred Santoy Gap 2,321,000 6.63 495,000 Seabee 813,900 6.83 178,800 Santoy 8 850,000 5.46 149,300 Porky Main 70,000 10.43 23,500 Porky West 138,300 6.03 26,800 Total 4,193,200 6.48 873,400

Mineral Reserves and Mineral Resources for Seabee Gold Property, Saskatchewan (December 31, 2011)

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Mill Expansion • Peak capacity expanded to 1,050 tonnes per day. Further expansions are being

evaluated. • During the third quarter, a planned mill shutdown will coincide with the shaft tie-in.

Shaft Extension • Shaft will be deepened from 600 metres to 980 metres. • Development is running on schedule and anticipated to be completed during the third

quarter.

Camp Upgrades • Completion targeted for mid-third quarter and occupancy slated by the end of the

same quarter.

Capital Projects: Seabee Gold Operation

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Amisk Gold Project

• Work on the external Preliminary Economic Assessment as well as an evaluation of the underground potential and detailed exploration continued during the second quarter.

• The Company increased its land position at its Amisk Gold Project by

staking 14 new mineral claims covering an additional 16,000 hectares on the western side of its existing land package.

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Amisk Location

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Amisk Pit Shell

Claude Resources - Amisk Lake Project - Grade - Tonnage Sensitivity Table

Au Eq Cut-Off Total Resource Indicated Inferred

Tonnage Au Eq (gpt) Au (gpt) Ag (gpt) Total Oz Ind Oz % Inf Oz %

0.30 82,422,879 0.69 0.62 4.35 1,828,471 998,622 55% 824,675 45%

0.40 58,803,225 0.83 0.75 5.11 1,569,171 920,881 59% 644,854 41%

0.50 42,979,475 0.97 0.88 5.85 1,340,368 824,702 62% 512,676 38%

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Madsen Gold Project

Exploration Program • Metres: 23,550 • 2 underground rigs and 1 surface rig, targeting 30

holes

Exploration is focused on continued testing of the 8 Zone Trend as well as the McVeigh and Austin Tuff depth continuity.

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Madsen Property: Red Lake Camp

Starratt Olsen 164,000 oz @ 0.18 opt

Madsen Mine Historic Production 2.4 M oz @ 0.30 opt Austin East

Underground Drill Chambers

2012 exploration target areas

8 Zone

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Fully operational equipment and facilities: • 500 ton per day permitted mill • 5 compartment operating shaft to

4,125 feet • Permitted tailings pond

Madsen Infrastructure

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Exploration Summary

2012 2012

$ (in millions) Metres

Seabee $5.90 50,700

Madsen $5.40 23,550

Amisk $1.20 3,750

Total $12.50 78,000

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For 2012, and looking forward, the Company will continue to:

1) Pursue best practices in the areas of safety, health and the environment;

2) Increase production and improve unit operating costs at the Seabee Gold Operation by

investing in capital projects and equipment to further develop satellite deposits;

3) Sustain or increase reserves and resources at the Seabee Gold Operation through further

exploration and development;

4) Advance surface and underground exploration drill programs at the Company's 100

percent owned Madsen Exploration Project with continuation of Phase II of underground

drilling from the 16th level drill platform;

5) Expand the scope of the Amisk Gold Project, and complete a preliminary economic

assessment; and

6) Updating the Life of Mine Plan at the Seabee Gold Operation.

2012 Outlook

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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