Saskatoon, Saskatchewan, Canada, June 17, 2009

Cameco Corporation (TSX: CCO; NYSE: CCJ) announced today that it has resumed production of uranium hexafluoride (UF₆) at its Port Hope, Ontario conversion facility.

Production of UF₆ at the facility has been suspended since December 2008 as the company could not obtain a supply of hydrofluoric acid (HF) on acceptable terms. In May 2009, Cameco announced that it had signed a contract with its historic supplier of HF under terms that are mutually beneficial to both parties. HF is a primary feed material for the production of UF₆.

Cameco continues to make progress in negotiations with other suppliers to broaden and diversify its supply base.

Restart of UF₆ production in Port Hope does not alter Cameco's 2009 fuel services production forecast of 8 to 12 million kilograms uranium.

Cameco, with its head office in Saskatoon, Saskatchewan, is one of the world's largest uranium producers. The company's uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. Cameco's shares trade on the Toronto and New York stock exchanges.

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