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2013 First Quarter Results Presented By: Neil McMillan President & CEO May 10, 2013

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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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Q1 2013 Highlights

ü Net loss of $2.5 million, or $0.01 per share.

ü Cash flow from operations before net changes in non-cash operating working capital (1) of $1.4 million, or $0.01 per share.

ü Produced 8,082 ounces of gold.

ü Gold sales of 9,301 ounces at an average realized price of $1,643 (U.S. $1,629) for revenue of $15.3 million.

ü Total cash cost per ounce of gold (2) for the first quarter of 2013 was $1,245 (U.S. $1,235).

ü 2013 winter road re-supply program was successfully completed.

ü Seabee Gold Mine shaft extension project was completed to 980 metres in January.

ü Closed debt financing with Canadian Western Bank and with Crown Capital Partners on April 5, 2013.

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Ounces Produced & Cash Costs

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Ounces Produced

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Cash Cost Per Ounce (2)

(CDN$ per ounce)

Q1 2013: 8,082 ounces Q1 2013: CDN $1,245

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Revenue & Gold Price

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Revenue ($ millions)

$1,350

$1,400

$1,450

$1,500

$1,550

$1,600

$1,650

$1,700

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Average Realized Gold Price (CDN$ per ounce)

Q1 2013: $15.3 million Q1 2013: CDN $1,643

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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

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Cash Flow From Operations Before Net Changes in Non-Cash

Operating Working Capital (1)

($ millions)

-$3.0

-$2.0

-$1.0

$0.0

$1.0

$2.0

$3.0

$4.0

$5.0

$6.0

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Net Profit (Loss) ($ millions)

Q1 2013: ($2.5 million) Q1 2013: $1.4 million

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Financial Position

March 31 2013

Short term debt* (millions) $20.8

Long term debt (millions) $0.0

Common shares outstanding, basic (millions) 175.8

Common share outstanding, fully diluted (millions) 184.1

*Includes $9.7 of debentures outstanding which mature in May of 2013

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• During the first quarter 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

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• Since the second quarter of 2012 the Company has aggressively taken steps to reduce corporate expenditures.

• In 2013, Claude has identified and implemented an

additional $6.0 million (annualized) of expenditure cuts and continues to review and adjust capital expenditures.

• Year over year, Claude expects to reduce expenditures by over 20%.

Cost Reduction Initiatives

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Operations and Projects

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Seabee Gold Operation

2013 Production • Forecast gold production of 50,000 to 54,0000

ounces o Approximately 60% from Seabee and 40% from the

Santoy Mine Complex

• Unit costs are estimated to improve modestly from 2012 cash costs of CDN $997

• L62 Zone now in production

Exploration Program for 2013 • Exploration budget of $1.6 million mainly focused on

the Seabee and Santoy regions

• Approximately 15,000 metres of underground drilling was completed during the first quarter of 2013.

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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

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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 á14% to 6.14 g/t from 5.37 g/t.

• Ounces â13% or 44,500 after mining 49,570 ounces in 2012.

• Anticipate significant reserve growth in 2013 from Santoy Gap

Indicated and Measured:

• Grade á46% to 7.82 g/t from 5.35 g/t.

• Ounces á344,200 ozs from 70,700 ozs.

Inferred:

• Ounces â31% as 270,000 ounces from Santoy Gap was upgraded into the Measured and Indicated category

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Amisk Gold Project Project Overview: • 100% ownership

• 1.56M oz resources (NI 43-101 compliant)

• 40,400 hectare property

• Open pit potential

Exploration Program for 2013 • Advancement of a Preliminary

Economic Assessment of the Amisk Gold Project was ongoing during the first quarter.

• Exploration activities were minimal with planned fiscal 2013 expenditures being deferred.

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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 for 2013 • The Company will focus on completion of an internal

scoping study of the Madsen Project in 2013.

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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

• Exploration budget of $1.6 million mainly focused on the Seabee and Santoy regions

• Budgeted capital expenditures forecasted to decrease 25% year over year at approximately $31.9 million

• Continued review and adjustments on expenditures in 2013

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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 E: ir@clauderesources.com

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Neil McMillan President Chief Executive Officer Board Director

17 years as President & CEO of Claude. 16 years managing the RBC Dominion Securities operation in Saskatoon. Shore Gold Inc. and Cameco Corporation Board Director.

Rick Johnson, C.A.

Chief Financial Officer Vice President Finance

16 years with Claude including 8 years as CFO and VP Finance.

Brian Skanderbeg, P.Geo.

Chief Operating Officer Senior Vice President

5 years with Claude leading the exploration team. Appointed Sr. VP and COO September 1, 2012. Previously employed with Goldcorp, INCO and Helio Resources.

Peter Longo, P.Eng., MBA

Vice President, Operations Joined Claude in 2011 as Manager of Capital Projects and appointed VP Operations in 2012. Previously worked for Areva Resources, Cameco Corporation and INCO.

Appendix A: Management Team

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Ted J. Nieman, Q.C.

Chairman Senior Vice-President, General Counsel and Corporate Secretary of Canpotex. A board member of all of Canpotex’s subsidiaries and affiliates. Joined the Board of Directors in 2007.

Ronald J. Hicks, C.A.

Director Spent 41 years with Deloitte where he was a partner. Has served as a Director with Dickenson Mines Ltd., Kam Kotia Mines Ltd., Saskatchewan Government Insurance and Prairie Malt Ltd. Joined the Board of Directors in 2007.

Ray A. McKay Director Held numerous senior positions within the aboriginal business community, provincial government and in the education sector. Most recently retired as the CEO of Kitsaki Management, a business arm of the Lac La Ronge Indian Band.

J. Robert Kowalishin, P.Eng.

Director Held a number of senior positions with the Trane Company over the course of his 42 year career with the company. Joined the Board of Directors in 2007.

Rita Mirwald, C.M.

Director Held a number of senior positions with Cameco Corporation, including that of Senior Vice President Corporate Services. Joined the Board of Directors in 2011.

Mike Sylvestre, P.Eng.

Director Currently the President and Chief Executive Officer for Castle Resources Inc. Holds an MSc and BSc in Mining Engineering from McGill University and Queen’s University. Previous experience with Inco Ltd. Over 35 years of mining experience. Joined the Board of Directors in 2011.

Brian Booth, P.Geo.

Director Currently serves as the President and Chief Executive Officer of Pembrook Mining Corp. Previous work experience includes Inco Ltd. and Lake Shore Gold Corp. Over 30 years of experience in mineral exploration. Joined the Board of Directors in 2012.

Neil McMillan President & CEO Director

17 years as President & CEO of Claude. 16 years managing the RBC Dominion Securities operation in Saskatoon. Serves on the Board of Shore Gold Inc. and Cameco Corporation.

Appendix B: Board of Directors

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Appendix C: Footnotes

(1) See description and reconciliation of this performance measure in the “Other Performance Measures” section of the Company’s MD&A.

(2) See description and reconciliation of non-IFRS performance measures in the “Non-IFRS Performance Measures and Reconciliations” section of the Company’s MD&A.