Mr. Tim Gitzel reports

CAMECO SIGNS LONG-TERM UF6 SUPPLY AGREEMENT WITH SLOVENSKE ELEKTRARNE

Cameco Corp. has finalized a new long-term agreement to supply natural uranium hexafluoride to Slovenske elektrarne for use in its nuclear power plants in Slovakia. This agreement, which consists of uranium and conversion services, is expected to provide a diversified and secure source of natural UF6 for SE through 2036. The material will support operations at SE's Bohunice and Mochovce nuclear facilities, starting in 2028.

Members of Cameco's marketing team joined SE representatives for a small gathering in London earlier this month to celebrate the agreement.

"Cameco is proud to play an essential role helping Slovakia meet its nuclear fuel needs. With this long-term agreement, we are adding a new market to our global commercial portfolio and supporting Slovakia with a stable, reliable supply of uranium fuel that is expected to enhance energy security in the region," said Cameco chief executive officer Tim Gitzel.

"Conversion is one of the most critical parts of the nuclear fuel cycle -- the process by which natural uranium is converted into a form suitable for enrichment and reprocessing. Slovenske elektrarne has succeeded in securing a long-term and reliable supply of a significant share of this key raw material until 2036, which is a significant step for Slovakia's energy security. The contract is strategic for Slovenske elektrarne -- allowing us to diversify our suppliers, reduce our dependence on one source and at the same time guarantee the smooth operation of our nuclear power plants," said Branislav Strycek, chairman and chief executive officer of Slovenske elektrarne.

Details of the contract are commercially confidential.

About Cameco Corp.

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Its competitive position is based on the company's controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Its shares trade on the Toronto and New York stock exchanges. Its head office is in Saskatoon, Sask., Canada.

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