Cameco to Participate in Restart of Bruce Reactors

Saskatoon, Saskatchewan, Canada, April 6, 2001

Cameco Corporation is pleased with the decision by Bruce Power Limited Partnership (Bruce Power) to proceed with the restart of the two Bruce A nuclear reactors whose operation was previously suspended by Ontario Hydro.

Cameco owns a 15% interest in Bruce Power and is the exclusive supplier of fuel to the Bruce reactors.

“Restarting the two Bruce A reactors in addition to operating the four Bruce B units is good news for Cameco. The decision underlines the competitiveness of nuclear electricity in Ontario and enhances the attractiveness of Cameco's investment in Bruce Power,” said Bernard Michel, Cameco's chair and chief executive officer. “This additional commitment to work with British Energy, the Power Workers' Union and the Society of Energy Professionals underscores Cameco's confidence in its Bruce Power partners and in the future of nuclear electricity.”

The Bruce nuclear power station consists of four Bruce B reactors currently operating and four Bruce A reactors, two of which have been the subject of a comprehensive condition assessment that has resulted in the decision to restart. The restart program has now been launched with a plan for the two Bruce A reactors to be back in operation by the summer of 2003, subject to regulatory approvals. The total cost of the restart is estimated to be in the order of $340 million (Cdn).

The financial close of the Bruce Power transaction with Ontario Power Generation is expected early this summer following completion of the regulatory review by the Canadian Nuclear Safety Commission.

Cameco, with its head office in Saskatoon, Saskatchewan, is the world's largest uranium supplier and the leading supplier of UO₂ to Candu operators. 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.

Certain statements in this news release constitute forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cameco or of the nuclear or gold business to be materially different from future results, performance or achievements expressed or implied by those forward-looking statements. These factors are discussed in greater detail in Cameco's most recent annual information form and management's discussion and analysis on file with the Canadian provincial securities regulatory authorities and the United States Securities and Exchange Commission.

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For further information, please contact:		For media inquiries, please contact:
Bob Lillie       Manager, Investor Relations   Cameco Corporation Phone:(306) 956-6639 Fax:(306) 956-6318		Jamie McIntyre Director, Investor & Corporate Relations Cameco Corporation Phone:(306) 956-6337 Fax:(306) 956-6318