Cameco Releases Kintyre ERMP for Public Review

All, November 8, 2013

Cameco has released the Environmental Review and Management Programme (ERMP) for the Kintyre uranium project in the remote East Pilbara region of Western Australia.

The ERMP outlines how Cameco proposes to responsibly develop the project in the future, subject to favorable market conditions. The ERMP includes all the information required for the State and Federal governments to make their assessment of the project.

The documentation is available for public review for 14 weeks and submissions can be made to Western Australia's Environmental Protection Authority (EPA).

Once the public review period has closed, Cameco will consider the public submissions and submit a response to the EPA for consideration as they prepare a report with recommendations to the Minister for Environment for assessment.

Cameco Australia managing director Brian Reilly says the company is taking prudent steps to prepare its projects for a development decision when market conditions signal new uranium production is required.

"We are advancing Kintyre through the environmental assessment process, continuing to build strong relationships with stakeholders and identifying additional resources to improve the economics of the project," Mr Reilly said.

"The public review phase is a significant step in the environmental assessment process and the culmination of more than four years of extensive community consultation and rigorous environmental and technical studies."

Kintyre is 70% owned by Cameco, one of the world's largest uranium producers, and 30% by Mitsubishi Development (MDP Uranium Pty Ltd).

The project land is located 60km south of Telfer and 260km northeast of Newman at the western edge of the Great Sandy Desert in the East Pilbara region of Western Australia.

The uranium deposit was acquired by the JV partners in 2008 and is estimated to contain indicated resources of about 55 million pounds.

Mineral resources

As at December 31, 2012 (100% basis – only the last column shows Cameco's share)
(tonnes in thousands; pounds in millions)

Cameco

Canadian-based Cameco Corporation, with its head office in Saskatoon, Saskatchewan, is one of the world's largest uranium producers. The company's uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. Cameco's shares trade on the Toronto and New York stock exchanges.

Mitsubishi

Mitsubishi Development (MDP Uranium Pty Ltd) is a wholly owned subsidiary of Mitsubishi Corporation, a global integrated business enterprise that develops and operates businesses across virtually every industry including environmental and infrastructure business, industrial finance, energy, metals, machinery, chemicals and foods.

Media inquiries:

Australia
Cadence Willis
08 9318 6600

North America
Robert Gereghty
306 956 6190