Cigar Lake Mine Resumes Production

All amounts in Canadian dollars unless specified otherwise

Cameco (TSX: CCO; NYSE: CCJ) today announced our Cigar Lake mine in northern Saskatchewan has resumed production activities following a temporary suspension due to challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed.

The McClean Lake mill has now resumed operations. Cigar Lake has begun shipping stockpiled ore to the mill and has restarted production at the mine.

Our 2026 production outlook range for Cigar Lake has not been impacted by the temporary suspension of production and remains between 17.5 million and 18.0 million pounds of U3O8 (100% basis).