Cameco Recognized For Outstanding Safety Performance

SASKATOON, SASKATCHEWAN, CANADA--(May. 11, 2010) -CURRENCY: CDN (UNLESS NOTED)

Cameco Corporation (TSX: CCO; NYSE: CCJ) has been recognized for its outstanding safety performance in 2009 by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM).

Cameco's McArthur River mine was awarded the CIM's prestigious John T. Ryan National Safety Trophy for the best safety performance in the metal mine category in 2009. In 2009, McArthur River recorded one reportable injury for 756,990 working hours.

Cameco's Cigar Lake mine, which recorded one reportable injury for 717,932 working hours in 2009, was recognized with a Special Award Certificate by the CIM.

"These awards are a reflection of our commitment to safety," said Tim Gitzel, Cameco's senior vice-president and COO. "We are proud of our employees, who have helped make our mines and facilities among the safest in Canada."

Cameco, with its head office in Saskatoon, Saskatchewan, is one of the world's largest uranium producers. 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.

Investor inquiries:
Bob Lillie (306) 956-6639

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Lyle Krahn (306) 956-6316