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Message: Announces Kyrgyz Parliamentary Ratification of Agreement

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Announces Kyrgyz Parliamentary Ratification of Agreement

posted on Apr 30, 09 06:25AM

April 30, 2009

Cameco Announces Kyrgyz Parliamentary Ratification of Agreement

SASKATOON, SASKATCHEWAN--(Marketwire - April 30, 2009) -

ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)

Cameco Corporation (TSX:CCO) (NYSE:CCJ) announced today that the Kyrgyz Parliament has ratified the agreement that Cameco and Centerra Gold Inc. signed with the Kyrgyz government that is described in Cameco's April 24, 2009 news release. In addition, the Kyrgyz Parliament has passed legislation authorizing the implementation of all of the terms of the agreement. The legislation has been forwarded to the Kyrgyz President for signature.

As previously announced, the agreement resolves all outstanding issues with respect to the Kumtor gold mine and is expected to further align the parties' business interests and provide additional certainty for continuing operations and future development of the Kumtor project.

Closing of the transactions under the agreement is dependent upon the satisfaction of certain conditions including withdrawal of all claims and proceedings before the Kyrgyz courts, and any necessary regulatory and other approvals, including TSX approval. The parties have agreed to apply reasonable efforts to close the transaction on or before May 25, 2009.

Cameco Corporation

Cameco, with its head office in Saskatoon, Saskatchewan, is one of the world's largest uranium producers. The company'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's shares trade on the Toronto and New York stock exchanges.

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