Cigar Lake Receives Operating Licence

Cigar Lake Receives Operating Licence 
SASKATOON, SASKATCHEWAN -- (Marketwired) -- 06/14/13 --  
Cameco (TSX:CCO)(NYSE:CCJ) announced that the CNSC has granted a
uranium mining licence authorizing construction and operation of the
Cigar Lake project. The licence will be valid from July 1, 2013 to
June 30, 2021. 
"We are pleased with this decision," said Tim Gitzel, Cameco's
president and CEO. "This licence will allow Cameco to advance the
Cigar Lake project into production and shows Canada's nuclear
regulator has confidence in our team." 
As planned, we expect to begin jet boring in ore this summer, with
the first packaged pounds expected in the fourth quarter of this
Qualified Person 
The above scientific and technical information was approved by Grant
Goddard, vice-president, Saskatchewan mining north, Cameco, who is a
qualified person for the purposes of NI 43-101. 
Cameco, 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
As used in this news release, "Cameco" or the "company" means Cameco
Corporation, a Canadian corporation and its subsidiaries and
affiliates unless stated otherwise. 
Caution Regarding Forward-Looking Information and Statements 
Certain information contained in this news release constitutes
"forward-looking information" or "forward-looking statements" within
the meaning of Canadian and U.S. securities laws. These include the
statement that we expect to begin jet boring in ore this summer, with
the first packaged pounds expected in the fourth quarter of this
year. 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: there is no
material delay or disruption in our plans as a result of ground
movements, cave ins, additional water inflows, natural phenomena,
delay in acquiring critical equipment, equipment failure, labour
disputes, failure to obtain or maintain regulatory approvals, or
other causes; the McClean Lake mill is available and functions as
designed; our Cigar Lake mining and production plans succeed; and the
jet boring mining method will be successful and that we will be able
to solve technical challenges as they arise. This forward-looking
information also involves known and unknown risks, uncertainties and
other factors that may cause actual results and developments to
differ materially from those expressed or implied. They include the
risks that: unexpected geological, hydrological, underground
condition, or ground movements and cave ins or an additional water
inflow delays or disrupts our plans; natural phenomena, labour
disputes, equipment failure, failure to obtain or maintain regulatory
approvals, delay in obtaining the required equipment or other reasons
cause a material delay or disruption in our plans; the McClean Lake
mill is not available or does not function as designed; and our
mining or production plans for Cigar Lake are  delayed or do not
succeed for any reason, including technical difficulties with the jet
boring mining method. We are providing this forward-looking
information to help you understand management's views regarding Cigar
Lake production in 2013 and it may not be appropriate for other
purposes. Cameco does not undertake any obligation to update or
revise forward-looking information, whether as a result of new
information, future events or otherwise, except to the extent legally
Investor inquiries:
Rachelle Girard
(306) 956-6403 
Media inquiries:
Gord Struthers
(306) 956-6593
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