Quarterly Reports - 2007 - Q3

Cameco Corporation today reported increased net earnings for the third quarter of 2007 due to higher earnings in the uranium business driven by significant increases in the realized selling price and higher deliveries. Results from the electricity and gold businesses were also stronger due to higher realized prices.

"This quarter we set a new Cameco record for the average price we received for our uranium," said Jerry Grandey, Cameco's president and CEO. "Our long-term contracting strategy will ensure that we continue to enjoy expanding margins and strong cash flow."

"Our increasing financial strength allows us to invest in our assets, the best in the industry, while simultaneously pursuing growth when and where it is most promising for our shareholders," he added.