Quarterly Reports - 2014 - Q3

Summary Information

• annual uranium sales outlook confirmed
• first uranium concentrate from Cigar Lake ore produced from the McClean Lake mill
• recorded $184 million write-down on Global Laser Enrichment
• unionized workers at McArthur River and Key Lake accept new contract offer

Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the third quarter ended September 30, 2014 in accordance with International Financial Reporting Standards (IFRS).

“Our results for the quarter reflect the ongoing challenges our industry is facing,” said president and CEO, Tim Gitzel. “But we continue to show that we’re up for the near-term challenge, as we prepare for the increased demand we see coming over the long term,” he added.

“To maintain the flexibility to adapt to the evolving market, we continue to work on things that are within our control and focus on efficiency at our operations. Our announcement of first production of packaged pounds from ore mined at Cigar Lake, and our recent contract agreement with our McArthur River and Key Lake unionized employees, speak to that focus.”