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Production

      Cameco's   Three Months Ended   Six Months Ended  
      Share   June 30/99   June 30/98   June 30/99 June 30/98  

Uranium production (in thousands lbs U3O8)                            
  Key Lake   100.0%     3,757     3,406     7,381   6,723    
  Rabbit Lake   100.0%     1,850     3,577     3,302   6,600    
  Highland   100.0%     236     255     541   534    
  Crow Butte   90.0%     195     167     375   329    

  Total         6,038     7,405     11,599   14,186    

                                 
Uranium conversion (tU)  

100.00%

    2,785     2,865     6,384   6,325    
                                 
Gold (troy ounces)                              
  Contact Lake   100.0%     -     12,408     -   26,648    
  Kumtor   33.3%     47,996     51,495     96,777   105,926    

  Total         47,996     63,903     96,777   132,574