Athabasca Basin Communities Renew Partnership with the Uranium Mining Industry

Press Release

Saskatoon, Saskatchewan, Canada, June 21, 2016 – The Athabasca communities, Cameco Corporation (Cameco) and AREVA Resources Canada Inc. (AREVA) are proud to announce the signing of a collaboration agreement that builds upon an enduring partnership in the development of uranium resources in the Athabasca Basin.

The Ya’Thi Néné (“Lands of the North” in Dene) collaboration agreement confirms the continued support of the communities historically and traditionally associated with the Cigar Lake, McClean Lake and Rabbit Lake uranium mining operations.

The comprehensive and unique agreement builds on the existing relationships and commercial arrangements between Cameco, AREVA and the three First Nation communities of Black Lake, Fond du Lac and Hatchet Lake, and the four communities of Stony Rapids, Wollaston Lake, Uranium City and Camsell Portage.

“The renewed partnership agreement gives the Athabasca communities certainty, to help ensure that the companies operate sustainably, bringing positive changes for the future generation.”

Diane McDonald, lead negotiator for the Athabasca communities

“By working with industry, people living in the north have found ways to enhance the capacity and vitality of their communities while protecting their traditional values and lands. This agreement assures that strong partnership will continue.”

Tim Gitzel, president and CEO of Cameco

“This agreement further solidifies our longstanding collaboration with these communities. It speaks to our joint vision and commitment to the prosperity of northern Saskatchewan for decades to come.”

Vincent Martin, president and CEO of AREVA Resources Canada

The Ya’Thi Néné collaboration agreement builds on the existing impact management agreement signed in 1999. The new agreement is structured on five pillars of workforce development, business development, community engagement, environmental stewardship, and community investment. Terms of the agreement include commitments to:

Workforce Development

• Continue the hiring preference for residents of the Athabasca communities for the Cigar Lake, McClean Lake and Rabbit Lake operations and the establishment of employment targets in consultation with communities
• Continue providing career awareness programs and scholarship funding for community residents

Business Development

• Continue preference for community-owned businesses in meeting the service requirements for Cameco and AREVA operations and develop new opportunities in specific areas
• Create a business advisory committee to ensure strategic discussions take place and business targets are achieved

Community Engagement and Environmental Stewardship

• Establish new structures, in consultation with communities, to engage and inform the Athabasca residents on environmental and operational matters related to the Cameco and AREVA’s operations
• Sustain and enhance the community-based environmental monitoring program currently overseen by the Athabasca Working Group
• Provide annual funding to support the Ya’Thi Néné Land and Resource Office which will serve as a point of contact for the companies on environment-related matters

Community Investment

• Cameco and AREVA will provide annual production-based payments to a community-administered trust to be used for initiatives that promote the health and well-being of residents, address housing needs, preserve language, culture and traditional practices, improving community infrastructure and generate education and economic opportunities for residents.

The agreement will remain in force until the existing Athabasca Basin operations of Cameco and AREVA are decommissioned.

Cameco

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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