Cameco Receives 10-year Operating Licence for Port Hope Conversion Facility from CNSC

Port Hope, February 27, 2017

Cameco (TSX: CCO; NYSE: CCJ) has been granted a 10-year operating licence for its conversion facility in Port Hope, Ontario by the Canadian Nuclear Safety Commission (CNSC). The new licence expires on February 28, 2027.

"We are very pleased that the CNSC has accepted our application for a 10-year operating licence," said Dale Clark, vice-president of Cameco's fuel services division. "The decision demonstrates the commission's confidence in our ability to safely produce and protect the environment at this facility both now and far into the future."

The licence was granted after an in-depth public hearing process which occurred in Port Hope in November, 2016. Members of the public were invited to voice their support or concerns about the continued operation of the facility.

"We are very grateful to all those who participated in the relicensing hearing," said Clark. "Public participation in the process ensures that all viewpoints can be considered by members of the Commission when they are making their decision. We're very pleased with the outcome."

Profile

Cameco is one of the world's largest uranium producers, a significant supplier of conversion services and one of two Candu fuel manufacturers in Canada. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations. Our uranium products are used to generate clean electricity in nuclear power plants around the world. We also explore for uranium in the Americas, Australia and Asia. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

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