Cameco's uranium exploration strategy is designed to leverage our industry leadership and financial strength to expand and diversify our base of quality assets.

Cameco has maintained an active exploration program through uranium market cycles preserving our knowledge base. Since 1988 we have assembled about 4.8 million hectares of Cameco and partner-operated lands in the world's most prospective areas for uranium including the Athabasca Basin where we hold a dominant land position. Being consistently engaged in uranium exploration over the long term allows Cameco to preserve knowledge and talent and recognize opportunities.

Cameco's long-term commitment to uranium, combined with our record for sustainability, financial strength, and in-house geological and mining expertise, makes us a partner of choice for juniors as well as larger players. Through partnerships and conditional equity investments Cameco seeks to expand the reach of the technical and financial resources we commit to exploration. We have forged relationships with numerous companies large and small and have entered into joint ventures and strategic alliances with rights to obtain majority ownership in and develop significant discoveries.

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