St. Eugene Mining Corporation Ltd.
TSX VENTURE : SEM

St. Eugene Mining Corporation Ltd.

May 03, 2011 12:26 ET

Claude Resources Elects Five of St. Eugene's New Claims for Amisk Gold Joint Venture

TORONTO, ONTARIO--(Marketwire - May 3, 2011) -

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

St. Eugene Mining Corporation Limited (TSX VENTURE:SEM) ("St. Eugene") announces that Claude Resources Inc. (TSX:CRJ) elected that five (5) of St. Eugene's newly staked mineral claims, announced by the Company on April 1, 2010, become part of the Amisk Gold joint venture project, in accordance with the area of influence provisions of the Amisk Gold joint venture agreement.

All of St. Eugene's newly staked claims are located adjacent to and north of the Amisk Gold Joint Venture Project and comprise approximately 10,000 hectares. Certain of the claims fall within the area of influence defined by the Amisk Gold joint venture agreement, and Claude Resources, as a 65% joint venture partner, had the right to elect to participate in certain of the newly staked claims that were subject to the area of influence. The five new claims selected by Claude comprise 1,878 hectares, are now included in the Amisk Gold Project joint venture, which now totals approximately 15,500 hectares.

The newly staked claims that do not form the Amisk Gold joint venture project are held 100% by St. Eugene and are referred to as the Amisk North Project. Although a detailed plan and budget has not yet been finalized for the 100% held Amisk North Project, St. Eugene will immediately be conducting an airborne survey.

A detailed map of the Amisk North Project is presented on St. Eugene's website www.steugenemining.ca.

Tania Ilieva, P.Geo., Vice President, Exploration, is the Qualified Person who has reviewed and approved the contents of this news release for and on behalf of St. Eugene.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of St. Eugene contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause St. Eugene's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding St. Eugene's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which St. Eugene has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from St. Eugene's expectations. St. Eugene undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, unless otherwise required by law.

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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