Cameco Annual Report 2011
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Mineral resources

As at December 31, 2011 (100% – only the last column shows Cameco's share)

Measured and indicated

(tonnes in thousands; pounds in millions)

    Measured Indicated Total measured and indicated
Property Mining
method		 Tonnes Grade
% U3O8		 Content
(lbs U3O8)		 Tonnes Grade
% U3O8		 Content
(lbs U3O8)		 Tonnes Grade
% U3O8		 Content
(lbs U3O8)		 Cameco's
share
(lbs U3O8)
McArthur River underground 73.7 5.58 9.1 114.4 25.40 64.0 188.1 17.63 73.1 51.0
Cigar Lake underground 18.9 1.68 0.7 25.5 2.71 1.5 44.4 2.25 2.2 1.1
Kintyre open pit 4,315.4 0.58 55.2 4,315.4 0.58 55.2 38.7
Rabbit Lake underground 362.4 0.53 4.3 362.4 0.53 4.3 4.3
Dawn Lake open pit, underground 347.0 1.69 12.9 347.0 1.69 12.9 7.4
Millennium underground 507.8 4.55 50.9 507.8 4.55 50.9 21.4
Phoenix underground 89.9 17.98 35.6 89.9 17.98 35.6 10.7
Tamarack underground 183.8 4.42 17.9 183.8 4.42 17.9 10.3
Inkai ISR 28,613.1 0.08 48.0 28,613.1 0.08 48.0 28.8
Gas Hills-Peach ISR 1,964.2 0.08 3.4 7,821.9 0.11 18.8 9,786.1 0.10 22.2 22.2
North Butte-Brown Ranch ISR 7,248.9 0.08 12.3 7,248.9 0.08 12.3 12.3
Smith Ranch-Highland ISR 2,158.3 0.11 5.1 14,778.0 0.06 18.6 16,936.3 0.06 23.7 23.7
Crow Butte ISR 2,592.2 0.21 11.9 2,592.2 0.21 11.9 11.9
Ruby Ranch ISR 2,215.3 0.08 4.1 2,215.3 0.08 4.1 4.1
Ruth ISR 1,080.5 0.09 2.1 1,080.5 0.09 2.1 2.1
Shirley Basin ISR 89.2 0.16 0.3 1,638.2 0.11 4.1 1,727.4 0.12 4.4 4.4
Total 4,304.3 – 18.6 71,934.3 – 362.2 76,238.6 – 380.8 254.4

Inferred

(tonnes in thousands; pounds in millions)

Property Mining
method		 Tonnes Grade
% U3O8		 Content
(lbs U3O8)		 Cameco's
share
(lbs U3O8)
McArthur River underground 405.2 9.67 86.4 60.3
Cigar Lake underground 448.0 12.59 124.4 62.2
Kintyre open pit 950.2 0.46 9.6 6.7
Rabbit Lake underground 331.9 1.42 10.4 10.4
Millennium underground 297.8 2.54 16.7 7.0
Phoenix underground 23.8 7.27 3.8 1.1
Tamarack underground 45.6 1.02 1.0 0.6
Inkai ISR 254,696.0 0.05 255.1 153.0
Gas Hills-Peach ISR 861.5 0.07 1.3 1.3
North Butte-Brown Ranch ISR 594.3 0.06 0.8 0.8
Smith Ranch-Highland ISR 6,404.0 0.05 6.6 6.6
Crow Butte ISR 2,282.2 0.12 6.0 6.0
Ruby Ranch ISR 56.2 0.14 0.2 0.2
Ruth ISR 210.9 0.08 0.4 0.4
Shirley Basin ISR 508.0 0.10 1.1 1.1
Total   268,115.6 – 523.8 317.7

Notes

ISR – in situ recovery

Mineral resources do not include amounts that have been identified as mineral reserves.

Mineral resources do not have demonstrated economic viability. Totals may not add up due to rounding.