2014 Q2 Conference Call

August 6, 2014

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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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Executive

Mike Sylvestre, P.Eng., ICD.D Chair, Interim President & CEO

Rick Johnson, CA Vice President of Finance &

CFO

Brian Skanderbeg, P.Geo Senior Vice President & COO

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Q2 Financial Highlights

ü Revenue of $24.7 million à 53% increase vs. Q2 2013

ü Total cash cost per ounce of gold (1) of $753 à 14% decrease vs. Q2

2013

ü Cash flow from operations before net changes in non-cash operating

working capital (1) of $9.9 million, or $0.05 per share

ü Net profit of $3.3 million, or $0.02 per share

ü Debt reduction totaling $7.1 million during the first half of 2014

§ Forecast approximately $10 million for full year

(1) See description and reconciliation of non-IFRS financial measures in the “Non-IFRS Financial Measures and Reconciliations” section of the Company’s 2014 Q2 MD&A.

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Q2 Operations Highlights

ü Set new highs in safety and environment performance

ü Record production of 18,742 ounces à 51% increase vs. Q2 2013

ü Head grade of 7.7 g/t à 50% increase vs. Q2 2013

ü Santoy Gap contributed on average 110 tonnes per day at ~7.1 g/t to

the Seabee Mill in May and June

ü Production and cost guidance revised

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Q2 Financial Results

(1) See description and reconciliation of non-IFRS financial measures in the “Non-IFRS Financial Measures and Reconciliations” section of the Company’s 2014 Q2 MD&A.

Financial Results (all $ amounts in $CDN)

Q2 2014 Q2 2013

Revenue (in 000’s) $ 24,718 $ 16,070

Production costs (in 000’s) $ 12,594 $ 10,088

Production royalty (NSR) (in 000’s) $ 734 $ -

Depreciation and depletion (in 000’s) $ 6,644 $ 5,794

Gross profit (loss) (in 000’s) $ 4,746 $ 188

Net profit (loss) (in 000’s) $ 3,327 $ (9,915)

Earnings (loss) per share (basic and diluted) $ 0.02 $ (0.06)

Average Realized Price per Ounce $ 1,397 $ 1,393

Total cash costs per ounce (1) $ 753 $ 875

Net Cash Margin per Ounce Sold (1) $ 644 $ 518

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Q2 Operating Results

Seabee Gold Operation Production Statistics

Q2 2014 Q2 2013 Change

Tonnes Milled 79,746 79,077 1%

Head Grade (g/t) 7.70 5.13 50%

Recovery 95.0% 95.3%

Gold Ounces

Produced 18,742 12,438 51%

Sold 17,690 11,532 53%

Q2 2014 production was the highest in the Company’s history!

*Set new highs in safety and environmental performance!

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Santoy Gap Update Key Project Milestones Goal Status

Ventilation Raise Q2 Completed beginning of June

Development Ore Production Q2 Ongoing - averaged 110 tonnes per day at ~7.1 g/t in May and June

Initial Production Ore Q4 Ahead of schedule – Q3

UG Drilling 27,000 m Ongoing – results to date have been encouraging

Long Hole Production (200 to 300 tpd)

2015 Forecast in late Q3

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2014 Outlook

• Targeting production of 50,000 to 54,000 ounces (previously 47,000 to

51,000).

• Unit costs to be approximately 10% lower than 2013.

• Capital expenditures to decrease approximately 28% from 2013.

• Focus on increasing production and margins by prioritizing Santoy Gap

development and L62 production.

• Continue Strategic Alternative Review.

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Strategy Going Forward

Strengthen Balance Sheet

Strategic Alternative Review Decrease Debt

Operating Execution

Improved Planning Prioritization of Santoy Gap New Mining Method Improved Grade

Cash Flow Optimization

Focus on Margins Financial Discipline Disciplined Capital Allocation

Focused Exploration

Key priorities aimed at delivering shareholder value

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(1) See footnotes located on page 17

Claude Resources Inc. Experience. Stability. Potential.

Creating the Capacity to

Discover. Develop. Deliver.

TSX: CRJ OTCQB: CLGRF

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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Mike Sylvestre, P.Eng., ICD.D

Chair, Interim President & CEO

Joined the Board of Directors in 2011. Holds a MSc and BSc in Mining Engineering from McGill University and Queen’s University. Previous experience with Inco Ltd. Over 35 years of mining experience.

Rick Johnson, C.A.

Chief Financial Officer Vice President Finance

16 years with Claude including 10 years as CFO and VP Finance.

Brian Skanderbeg, P.Geo.

Chief Operating Officer Senior Vice President

7 years with Claude. Prior to being appointed. Appointed Sr. VP and COO September 1, 2012, lead the exploration team as VP Exploration. Previously employed with Goldcorp, INCO and Helio Resources.

Appendix A: Executive Team

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Appendix B: Board of Directors

Mike Sylvestre, P.Eng., ICD.D

Chair, Interim President & CEO

Currently the President and Chief Executive Officer for Castle Resources Inc. Holds a 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.

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.

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.

Brian Booth, P.Geo.

Lead 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.