Cameco Announces Operational Changes in Saskatchewan and the United States - Seite 3

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.

Caution Regarding Forward-Looking Information and Statements

Certain statements in this press release are "forward-looking information" or "forward-looking statements" within the meaning of Canadian and U.S. securities laws. They include: our ability to ensure a safe and orderly implementation; our ability to resume production when market conditions significantly improve; that these measures will allow us to continue to deliver value and will support the long-term health of the company; the expectation that transition to care and maintenance will begin immediately and be completed by the end of August 2016; the ability of the U.S. operations to continue ongoing licensing efforts to facilitate future resumption of production; the expected production levels at Rabbit Lake, our U.S. operations and Cigar Lake for 2016, and our overall 2016 expected production level; the impact of additional scheduled downtime for the Key Lake mill on McArthur River/Key Lake's production target; the expected cost of placing Rabbit Lake into care and maintenance for 2016; our expected reduction in capital expenditures for 2016; and the expected severance costs.

This information is based upon a number of assumptions that, while considered reasonable by management, are subject to significant uncertainties and contingencies. We have assumed that: we will be able to implement the suspension of production at Rabbit Lake and the curtailment of our U.S. operations by deferral of wellfield development in the manner, within the timelines, at the cost levels and with the benefits anticipated; we will be able to resume production at Rabbit Lake and continue wellfield development at our U.S. operations successfully when market conditions warrant; the impact of these decisions on our production levels and capital expenditures will be as expected; our production plans succeed; and that the McClean Lake mill will receive the necessary regulatory approvals, and will not be affected by any labour dispute, so that we will be able to achieve our production target at Cigar Lake.