Quarterly Report - 2015 - Q1

Summary information

• Higher revenue and gross profit
• Lower uranium production due to unplanned Key Lake mill outage, still on track for year
• Continued success ramping up production at Cigar Lake mine and McClean Lake mill
• McArthur River production limit increase to 25 million pounds annually approved by CNSC
• Supply agreement signed between Cameco Inc. and India’s Department of Atomic Energy

Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the first quarter ended March 31, 2015 in accordance with International Financial Reporting Standards (IFRS).

“We have continued to perform well in an uncertain market,” said president and CEO, Tim Gitzel.

“We have not only achieved success at the operational level, with excellent progress at Cigar Lake, and permission for a higher production level at McArthur River, but our company as a whole has focused on remaining a market leader, by maintaining strong relationships with our customers, and forging new relationships, as Cameco Inc. did by signing a long-term supply agreement with India. Our strengths have always been great people, great assets, and a strong portfolio of contracts, and we continue to build on those strengths, even in a depressed market.”