Please also review the discussion in our first quarter and annual MD&A and our most recent annual information form for other material risks that could cause actual results to differ significantly from our current expectations, and other material

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unanticipated consequences; the risk we do not obtain regulatory approvals and agreement from joint venture partners to

expand production capacity; and the risk our estimates and forecasts prove to be inaccurate. In presenting the forward-looking

information, we have made material assumptions which may prove incorrect about: expanding capacity at our tier-one assets

and their future production costs; uranium demand and prices; our production, sales, average realized price, capital

expenditures, and costs; the accuracy of our mineral reserve and other estimates; the absence of new and adverse

government regulations or policies; the successful outcome of any litigation or arbitration claims against us; our ability to

complete contracts on the agreed-upon terms; and that our cost reduction strategies will successfully achieve their objectives.

Please also review the discussion in our first quarter and annual MD&A and our most recent annual information form for other

material risks that could cause actual results to differ significantly from our current expectations, and other material

assumptions we have made. Forward-looking information is designed to help you understand management’s current views of

our near- and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this

information unless we are required to by securities laws.

Conference call

We invite you to join our first quarter conference call on Friday, April 28, 2017 at 1:00 p.m. Eastern.

The call will be open to all investors and the media. To join the call, please dial (800) 319-4610 (Canada and US) or (604) 638-

5340. An operator will put your call through. The slides and a live webcast of the conference call will be available from a link at

cameco.com. See the link on our home page on the day of the call.

A recorded version of the proceedings will be available:

 on our website, cameco.com, shortly after the call

 on post view until midnight, Eastern, May 28, 2017, by calling (800) 319-6413 (Canada and US) or (604) 638-9010

(Passcode 1249)

2017 quarterly report release dates

We plan to announce our remaining 2017 quarterly results as follows:

 second quarter consolidated financial and operating results: before markets open on July 27, 2017

 third quarter consolidated financial and operating results: before markets open on October 27, 2017

The 2018 date for the announcement of our fourth quarter and 2017 consolidated financial and operating results will be

provided in our 2017 third quarter MD&A. Announcement dates are subject to change.

Profile

We are 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.

As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its

subsidiaries; including NUKEM Energy GmbH, unless otherwise indicated.

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Investor inquiries: Rachelle Girard (306) 956-6403

Media inquiries: Gord Struthers (306) 956-6593