Cameco's global exploration effort will sustain our position as a world leader in uranium production for the future. Our portfolio includes about 66 active projects in nine countries ranging from advanced-stage work in the vicinity of our existing operations to early-stage projects in areas of promising geology around the world. We also hold interests in 18 other projects both directly and through our strategic alliances. Cameco maintained an active exploration program throughout the uranium price cycle, securing talent and some of the world's most prospective land. Today, we have more than 100 experienced exploration professionals searching for the next generation of deposits. Including partner-operated projects, we hold about 5.9 million hectares of land, primarily in Canada, Australia, the US, Mongolia and Africa.

For more on Cameco's exploration strategy see the 2008 Annual Financial Review