Cigar Lake Phase II

2016

©Permission Granted Cameco Corp Copyright Files

Scope

“The Cigar Lake uranium deposit, …is subdivided into the eastern Phase 1 and western Phase 2 zones” [1] James as a Cameco Program Manager started an exploration program and a technical study at the PFS level for Phase II in 2016, which included at team of Cameco staff, consultants and contractors. The icons to the left represent areas lead by James and team during his time with the project.

[1] Technical report titled “Cigar Lake Operation, Northern Saskatchewan, Canada”, dated March 29, 2016 with an effective date of December 31, 2015.

Value Engineering and Project De-Risking

Environment, Social, and Governance (ESG)

Scale

Limited information is available in the public domain, refer to past Cigar Lake Technical Report dated March 2016 or future technical reports. [1]

[1] Technical report titled “Cigar Lake Operation, Northern Saskatchewan, Canada”, dated March 29, 2016 with an effective date of December 31, 2015.

Results

The Cigar Lake Phase I zone is in production; however, “…the timelines associated with exploring, designing, permitting and developing new uranium deposits are long. And, given the estimated pounds U3O8 and average grade of the inferred mineral resources at Phase 2, it is recommended that resources continue to be allocated to advance and complete the delineation drilling initiated in early 2016, and to initiate the appropriate engineering studies within the planned timeframe to assess the economic viability of this deposit..” [1]

[1] Technical report titled “Cigar Lake Operation, Northern Saskatchewan, Canada”, dated March 29, 2016 with an effective date of December 31, 2015.