Cameco Welcomes Signing of Canada-Kazakhstan Nuclear Co-operation Agreement

SASKATOON, SASKATCHEWAN, CANADA--(Nov. 13, 2013) -

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Cameco (TSX: CCO; NYSE: CCJ) welcomes the Government of Canada’s announcement that a nuclear co-operation agreement (NCA) between Canada and Kazakhstan has been signed.

The NCA and related administrative arrangements are complete and next steps will include tabling of the agreement in both parliaments and exchange of diplomatic notes before the agreement is in force.

For Cameco, the NCA opens opportunities to advance our partnership with Kazatomprom which will strengthen our business and support continued growth.

“Kazakhstan has an ambitious plan for its uranium mining and nuclear energy program, and this agreement allows us to work closely with our partners to realize that potential,” said president and CEO of Cameco Tim Gitzel.

“We commend the work of both the Canadian and Kazakh governments on finalizing this agreement and look forward to exploring opportunities for further development of the industry,” he added.

Gitzel thanked Foreign Affairs Minister John Baird and Minister of State (Foreign Affairs and Consular) Lynne Yelich for their efforts, which were instrumental in the completion of the NCA.

Under the 2012 memorandum of agreement (MOA) between Cameco and Kazatomprom, further investments for increasing production or developing processing facilities will be subject to market conditions and depend on results of pre-feasibility and feasibility studies on all projects.

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