Crow Butte

2015 Production (Cameco’s share): 0.4m lbs U3O8

Estimated Reserves (Cameco’s share): 1.7m lbs U3O8

2016 Production Outlook (Cameco’s share): 0.2m lbs U3O8

Proportion of
2015 U production

	McArthur River mine / Key Lake mill	Cigar Lake	Inkai	Rabbit Lake	Smith Ranch-Highland and Satellite Facilities	Crow Butte
Proportion of 2015 U production	47%	20%	12%	15%	5%	1%

North America map showing location of Crow Butte property

Crow Butte was discovered in 1980 and began production in 1991.

Location	Nebraska, US
Ownership	100%
End product	Uranium concentrates
ISO certification	ISO 14001 certified
Estimated reserves	0.7 million pounds (proven), average grade U₃O₈: 0.08%
Estimated resources	15.2 million pounds (measured and indicated), average grade U₃O₈: 0.25% 2.9 million pounds (inferred), average grade U₃O₈: 0.12%
Mining methods	In situ recovery (ISR)
Licensed capacity (processing plants and wellfields)	2.0 million pounds per year
Licence term	Through October, 2024
Total production: 2002 to 2015	10.1 million pounds
2015 production	0.4 million pounds
2016 production outlook	0.2 million pounds
Estimated decommissioning cost	$46 million (US)

2015 update

Production

Production this year was higher than forecast, but 33% lower than 2014 due to declining head grade.

Planning for the future

Production

In 2016, we expect to produce 0.2 million pounds. The head grade and overall production at Crow Butte is expected to continue to decline, as there are no new wellfields being developed under the current mine plan.

Managing our risks

We manage the risks listed here.