Ms. Rachelle Girard reports

CAMECO ANNOUNCES FILING OF PRELIMINARY BASE SHELF PROSPECTUS

Cameco Corp. has filed a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada, and a corresponding registration statement with the U.S. Securities and Exchange Commission under the Multijurisdictional Disclosure System. These filings, when made final or effective, will allow Cameco to make offerings of common shares, preferred shares, warrants, subscription receipts and debt securities, or any combination thereof, having an aggregate offering price of up to $1-billion during the next 25 months in Canada and the United States. The specific terms of any offering of securities will be set forth in a shelf prospectus supplement. Cameco does not have any immediate plans to offer securities under the shelf prospectus or registration statement.

No securities may be sold nor may offers to buy be accepted prior to the time at which a receipt for the final base shelf prospectus is obtained from applicable Canadian securities regulatory authorities.