Saskatchewan Canada Cameco Announces McArthur River/Key Lake Operation Resumes Production
Saskatoon
Saskatchewan
Canada
Cameco Announces McArthur River/Key Lake Operation Resumes Production
May 27, 2026
Cameco (TSX: CCO; NYSE: CCJ) today announced that the Key Lake mill and McArthur River mine have returned
to full production activities following a disruption caused by flooding in northern Saskatchewan. Our 2026
consolidated production outlook remains unchanged.
On May 10, 2026, Cameco announced that Key Lake had temporarily halted production activities and McArthur
River had reduced activities due to the impact of flooding in northern Saskatchewan. While our northern
Saskatchewan sites were not directly impacted by flood waters, the Smoothstone River Bridge, which is on the
primary route we use to transport supplies to the McArthur River and Key Lake sites, partially collapsed due to
flood waters. There were also weight and traffic restrictions on the alternative roadway, which interrupted the
delivery of critical operating materials.
We are in regular contact with the Saskatchewan Ministry of Highways, and while the timing to restore access to
our primary supply route is still being confirmed, we have now been able to consistently deliver the volume of
critical materials required to resume full operations at Key Lake and McArthur River using the secondary route.
However, as is the case every spring season, there remains a risk that continued thawing and precipitation events
could result in further road restrictions, which could cause delays in future deliveries of critical operating materials
to our sites.
Our 2026 production plan for the McArthur River/Key Lake operation has not been impacted by this disruption.
Cigar Lake mine was not impacted and continues to operate. Our consolidated 2026 production outlook remains
unchanged at 19.5 million to 21.5 million pounds of U3O8 (our share).
Caution about forward-looking information
This news release includes statements and information about expectations for the future, which are referred to as
forward-looking information. This forward-looking information is based on current views, which can change
significantly, and actual results and events may be significantly different from what is currently expected.
Examples of forward-looking information in this news release include: statements regarding our 2026 consolidated
production outlook and production plan; the uncertainty of the timing to restore access to our primary supply route;
and the possibility of further road restrictions resulting in delays in future deliveries of operating materials. Material
risks that could lead to different results in our 2026 production plan and outlook include: the risk of delays in
restoring access to our primary supply route; delays in future delivery of operating materials due to spring thawing
and precipitation events, or for other reasons; or other factors that prevent us from achieving the expected
production plan and outlook. In presenting the forward-looking information, we have made material assumptions
which may prove incorrect about our supply routes and our ability to deliver operating materials, and otherwise
about our ability to meet our production plan and outlook. Other material risks and assumptions which may impact
our 2026 production plan and outlook are described in greater detail in Cameco’s current annual information form
www.cameco.com
NEWS RELEASE
All amounts in Canadian dollars
unless specified otherwise
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and its most recent annual and subsequent quarterly management’s discussion and analysis. Forward-looking
information is designed to help you understand management’s current views of our near-term and longer-term
prospects, and it may not be appropriate for other purposes. Cameco will not necessarily update this information
unless required by securities laws.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based
on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across
the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the
world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares
trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless
otherwise indicated.
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Cory Kos Veronica Baker
306-716-6782 306-385-5541