Cameco Gold Appoints Kumtor President

Toronto, Ontario, Canada, December 09, 2002

Len Homeniuk, chair of Kumtor Operating Company (KOC), Cameco Corporation's gold operation in Kyrgyzstan, Central Asia, is pleased to announce the appointment of Andrew Lewis to the position of president of KOC, effective January 15, 2003.

As president, Andrew Lewis will report to Len Homeniuk and be responsible for all technical and operational aspects of KOC.

Lewis brings 20 years of international experience in the mining industry, having held various management and technical positions in Bulgaria, Spain, Philippines, and the United Kingdom. He holds a MBA from the Cranfield School of Management and a degree from the Royal School of Mines, Imperial College, London, England.

Cameco Gold Inc. with its head office in Toronto, Ontario, is a wholly owned subsidiary of Cameco Corporation, which is based in Saskatoon, Saskatchewan. The shares of Cameco Corporation trade on the Toronto and New York stock exchanges.

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