<SEC-DOCUMENT>0000950123-11-080441.txt : 20110826
<SEC-HEADER>0000950123-11-080441.hdr.sgml : 20110826
<ACCEPTANCE-DATETIME>20110826135427
ACCESSION NUMBER:		0000950123-11-080441
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110801
FILED AS OF DATE:		20110826
DATE AS OF CHANGE:		20110826

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMECO CORP
		CENTRAL INDEX KEY:			0001009001
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				980113090
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14228
		FILM NUMBER:		111059231

	BUSINESS ADDRESS:	
		STREET 1:		2121 11TH ST W
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
		BUSINESS PHONE:		3069566200

	MAIL ADDRESS:	
		STREET 1:		2121 11TH ST W.
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>c21969e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 10pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 10pt"><B>FORM 6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 10pt"><B>Report of Foreign Private Issuer<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16 Under<BR>
the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 10pt"><B>For the month of August, 2011</B>

</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 10pt"><B>Cameco Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Commission file No.&nbsp;1-14228)</DIV>



<DIV align="Center" style="font-size: 10pt; margin-top: 10pt"><B>2121-11th Street West<BR>
Saskatoon, Saskatchewan, Canada S7M 1J3</B><BR>
(Address of Principal Executive Offices)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 10pt">Form&nbsp;20-F <FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form 40-F <FONT face="Wingdings">&#254;</FONT>

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under the
Securities Exchange Act of 1934.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 10pt">Yes <FONT face="Wingdings">&#111;</FONT> No <FONT face="Wingdings">&#254;</FONT>

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2(b):_____
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;Index</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Page No.</TD>
</TR>


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<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press Release dated
August&nbsp;26, 2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="CENTER" valign="top">3 &#150; 6</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>SIGNATURE</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date:  August 26, 2011&nbsp;</TD>
    <TD colspan="3" align="left">Cameco Corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ <I>&#147;Gary M. S. Chad&#148;</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Gary M. S. Chad&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" NOWRAP>Senior Vice-President, Governance,<BR>
Law and Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 2<!-- /Folio -->
</DIV>



</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c21969exv99w1.htm
<DESCRIPTION>EXHIBIT 1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;1</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><B>TSX: </B>CCO<br>
<B>NYSE: </B>CCJ
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><IMG src="c21969c2196901.gif" alt="(CAMECO LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>website: </B>cameco.com<br>
<B>currency: </B>Cdn (unless noted)</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt">2121 &#151; 11<SUP style="font-size: 85%; vertical-align: text-top">th </SUP>Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada<BR>
Tel: (306)&nbsp;956-6200 Fax: (306)&nbsp;956-6201
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Cameco Announces Intention to Acquire Hathor Exploration Limited<BR>
Conference Call and Webcast at 9:00 a.m. EDT Today</B>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All-cash offer of $3.75 per Hathor share</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Premium of 40% over Hathor&#146;s closing share price and 33% over Hathor&#146;s 20-day
volume-weighted average price as at August&nbsp;25, 2011</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Immediate liquidity and elimination of risk for Hathor shareholders</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Investor conference call today at 9:00 a.m. EDT</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Saskatoon, Saskatchewan, Canada, August&nbsp;26, 2011
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Cameco </B>(TSX: CCO; NYSE: CCJ) announced that it intends to make an offer (the &#147;Offer&#148;) to acquire
all of the outstanding shares of Hathor Exploration Ltd. (TSX: HAT) for cash consideration of $3.75
per share in a transaction which values the fully diluted share capital of Hathor at approximately
$520&nbsp;million<SUP style="font-size: 85%; vertical-align: text-top">1</SUP>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Cameco delivered a written proposal to Hathor following the close of market on Friday, August&nbsp;19,
2011 outlining its interest in acquiring the company for cash in a transaction valued at $3.75 per
share. Cameco made today&#146;s announcement after discussions with Hathor regarding a potential
board-supported transaction failed to result in an agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Hathor is a junior uranium company focused on exploration projects in the Athabasca Basin of
northern Saskatchewan, Canada. The company&#146;s most significant asset is the Roughrider uranium
deposit. The Roughrider deposit is estimated to contain indicated and inferred resources of
approximately 17.2 and 40.7&nbsp;million pounds of uranium (U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>)
respectively<SUP style="font-size: 85%; vertical-align: text-top">2</SUP>. The deposit is located approximately 25 kilometres northwest of Cameco&#146;s
Rabbit Lake mill.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Compelling Offer for Hathor Shareholders</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The Offer is compelling for Hathor shareholders as it provides:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Attractive Premium: The Offer price of $3.75 per Hathor share represents an attractive
premium of 40% over Hathor&#146;s closing price and 33% over Hathor&#146;s 20-day volume-weighted
average price as at August&nbsp;25, 2011.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Liquidity and Certainty of Value: The consideration offered is cash, which provides Hathor
shareholders with certainty of value and immediate liquidity, while removing the inherent
execution risk to shareholders that is associated with companies in the early stages of
development such as Hathor.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">1</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated fully diluted share capital of approximately 139&nbsp;million
shares, based on Hathor&#146;s public disclosure.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">2</TD>
    <TD>&nbsp;</TD>
    <TD>Indicated and inferred resources of the Roughrider deposit as
reported by Hathor in a press release dated June&nbsp;17, 2011. The deposit&#146;s west
zone has an indicated resource estimate of 394,200 tonnes of ore containing
17.2&nbsp;million pounds at an average grade of 1.98% U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> and
an inferred resource estimate of 43,600 tonnes of ore containing 10.6&nbsp;million
pounds at an average grade of 11.03% U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>. The deposit&#146;s
east zone has an inferred resource estimate of 118,000 tonnes of ore containing
30.1&nbsp;million pounds at an average grade of 11.58% U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">





<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fully Financed Offer: The Offer is not subject to a financing condition and will be funded
using existing cash on hand, providing Hathor shareholders with little execution risk.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Avoidance of Dilution: Continued development of the Roughrider deposit and Hathor&#146;s other
projects will require substantial additional funds; any additional equity financing, joint
venture agreement(s) or other transaction(s) that are undertaken could result in material
dilution to existing Hathor shareholders.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;Our offer provides Hathor shareholders an opportunity to receive an immediate and substantial
premium for their shares and eliminate the inherent risks of a company at Hathor&#146;s early stage of
development,&#148; said Tim Gitzel, president and CEO of Cameco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;The market has recognized the exceptional job Hathor has done with the Roughrider deposit and the
company&#146;s other properties. Given our financial strength, development expertise, existing
infrastructure and experience in the Athabasca region, we feel we are in a unique position to build
on that success and further advance the Roughrider deposit.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The Offer will commence as soon as possible by publication of an advertisement and filing of a
take-over bid circular which includes the full details of the Offer, including applicable terms and
conditions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Further Details of the Offer</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The Offer will be made by way of a formal offer and take-over bid circular to be mailed to
shareholders of Hathor and will be subject to usual and customary conditions, including receipt of
all required regulatory approvals, termination or waiver of Hathor&#146;s shareholder rights plan and
not less than
66<SUP style="font-size: 85%; vertical-align: text-top">2</SUP>/<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>% of the Hathor shares being deposited under the Offer and not withdrawn. Further
details concerning the Offer will be included in the formal offer and take-over bid circular. The
Offer will be open for acceptance for at least 60&nbsp;days following the commencement of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Advisors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">CIBC World Markets Inc. is acting as financial advisor to Cameco in connection with the proposed
takeover offer and Osler, Hoskin &#038; Harcourt LLP is acting as Cameco&#146;s legal counsel.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Investor Conference Call and Webcast</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Cameco invites investors and the media to join a conference call and webcast with the company&#146;s
president and CEO Tim Gitzel and senior vice-president, marketing and business development Ken
Seitz on Friday, August&nbsp;26, 2011 at 9:00 a.m. Eastern.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">To join the call, please dial (877)&nbsp;240-9772 (Canada and US) or (416)&nbsp;340-8530. An operator will
put your call through. A live audio feed of the conference call will be available from a link on
cameco.com. The presentation slides for the webcast will be available for download on our website.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">A recorded version of the proceedings will be available on our website, shortly after the call, and
on post view until midnight, Eastern, September&nbsp;26, 2011, by calling (800)&nbsp;408-3053 (Canada and US)
or (905)&nbsp;694-9451 (Passcode 2856426 #).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The live webcast will be available on cameco.com by using Windows Media Player or Real Player
software. See the link on the home page. A replay will be available shortly after the conference
call on our website.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Caution Regarding Forward-Looking Information and Statements</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Certain information contained in this news release constitutes &#147;forward-looking information&#148; (or
&#147;forward-looking statements&#148;) within the meaning of Canadian and U.S. securities laws. All
statements, other than statements of historical or present fact, constitute forward-looking
information and typically include words and phrases about the future such as will, anticipate,
estimate, expect, plan, intend, predict, goal, target, project, potential, strategy and outlook.
Forward-looking information is necessarily based upon a number of assumptions that, while
considered reasonable by management, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Cameco cautions the reader that such forward-looking
information involves known and unknown risks, uncertainties and other factors that may cause actual
results and developments to differ materially from those expressed or implied by such
forward-looking information. These risks, factors and assumptions include, but are not limited to:
the assumption that Cameco will acquire a 100% interest in Hathor through the Offer; the risk of
changes in the price of uranium; the assumption that there are no inaccuracies or material
omissions in Hathor&#146;s publicly available information and the risk that Hathor has not disclosed
events or facts which may have occurred or which may affect the significance or accuracy of any
such information; assumptions about anticipated operations and planned exploration and development
activities; the risk of operating or technical difficulties in connection with mining or
development activities; and the risks involved in the exploration, development and mining business.
Certain of these factors are discussed in greater detail in Cameco&#146;s and Hathor&#146;s most recent
Annual Information Form and MD&#038;A on file with the Canadian securities regulatory authorities, which
we recommend that you review for more information about these assumptions and risks. The
information concerning Hathor contained in this press release has been taken from or is based upon
Hathor&#146;s publicly available documents on file with Canadian securities regulatory authorities.
Neither Cameco nor any of its directors or officers assumes any responsibility for the accuracy or
completeness of such information, or for any failure by Hathor to disclose events or facts which
may have occurred or which may affect the significance or accuracy of any such information, but
which are unknown to Cameco. Forward-looking information is designed to help you understand
management&#146;s current views of our near and longer term prospects, 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 required.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Profile</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Cameco, with its head office in Saskatoon, Saskatchewan, is one of the world&#146;s largest uranium
producers. The company&#146;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&#146;s shares
trade on the Toronto and New York stock exchanges.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">As used in this news release, &#147;Cameco&#148; or the &#147;company&#148; means Cameco Corporation, a Canadian
corporation and its subsidiaries and affiliates unless stated otherwise.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">- End -
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Investor inquiries:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rachelle Girard
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(306) 956-6403</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Media inquiries:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gord Struthers
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(306) 956-6593</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 6<!-- /Folio -->
</DIV>



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