OWNERSHIP:

Cameco Corporation (50%)
AREVA Resources (37%)
Idemitsu Uranium Exploration Canada Limited (8%)
TEPCO Resources Inc. (5%)

OPERATOR:

Cameco Corporation (Cameco assumed operation in January 2002)

DISCOVERED:

1981 by AREVA Resources

OPERATION:

Cigar Lake is the world's second-largest known high-grade orebody. Construction of the mine is ongoing. When in production, the slurry will be trucked about 70 kilometres to the McClean Lake mill for processing. As production ramps up, about half of the uranium solution will be trucked from the McClean Lake mill to Cameco's Rabbit Lake operation for final processing and packaging. Mill expansions are planned for both sites.

CAPACITY:

Planned annual production of 18 million lbs. U₃O₈ (6,924 tonnes uranium)

PRODUCTION:

Production is targeted for mid-2013 based on current information

RESERVES:

Proven and probable reserves of 209.3 million lbs. U₃O₈ (80,500 tonnes uranium) with an average grade of 17.0% U₃O₈

PLANS FOR 2010:

The project has been delayed due to water inflows; therefore, the plans for 2010 include:

• Complete work to secure the underground before October 2010, depending on the condition of the mine.
• Begin to restore the underground mine systems and infrastructure.

2009