New Director Appointed to Cameco's Board

SASKATOON, SASKATCHEWAN--(Marketwired - Dec. 17, 2015) -

ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)

Cameco (TSX:CCO) (NYSE:CCJ) announced today that its board appointed Don Kayne as a director effective January 1, 2016 until the next annual general shareholders' meeting where he will stand for election by the shareholders with the rest of the board.

Kayne is president and CEO of Canfor Corporation, as well as CEO of Canfor Pulp Products Inc. He has spent his entire career at Canfor and led the company's effort to develop markets for Canadian forest products in China.

"Don's expertise doing business in developing markets, such as China, will be very valuable to Cameco," said board chair Neil McMillan. "He is connected to important emerging markets around the world and we look forward to welcoming him to the board."

Kayne is a director and past chair of the Forest Products Association of Canada, Council of Forest Industries, Alberta Forest Products Association and the BC Lumber Trade Council. In 2014, he was appointed to the bi-national Softwood Lumber Board. Mr. Kayne is also chair of the Educating Girls of Rural China Foundation, a charitable organization that works to improve the lives of women in rural areas of western China by providing access to education.

Profile

Cameco is 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.