Cameco provides a preliminary third quarter operating update. Canadian Business Journal

SASKATOON, Saskatchewan, Oct. 11, 2022 (GLOBE NEWSWIRE) — Cameco (TSX: CCO; NYSE: CCJ) today announced preliminary financial results for the third quarter ended September 30, 2022. did.

We plan to announce Q3 2022 results before the market opens on October 27, 2022. Uranium segment deliveries for the quarter ended 30 September 2022 are expected to be £5m to £5.5m, in line with the third quarter 2022 delivery pattern disclosed in the annual MD&A. increase. Our Fuel Services segment will announce deliveries of 2.1 to 2.4 million kilograms of uranium (“kgU”) during the same period.

Uranium segment production for the quarter ended 30 September 2022 is expected to be £2 million (our share) from Cigar Lake. The production of the fuel services segment is expected to be 1.5 million kgU during the same period.

Restart activities at the MacArthur River and Key Lakes continue to progress, with first production from the plant scheduled for late Q4 2022.

The Inkai Joint Venture continues to experience delays in the shipment of materials via the Trans-Caspian route. The timing of Inkai receiving shipments of his 2022 production will affect the timing of his 2022 share of profits from this equity accounted investee and receipt of dividends from the joint venture. There is a possibility.

Third-party interest in contracting with us for the supply of our uranium and fuel services remains strong. The utility remains focused on securing necessary conversion and enhancement services under long-term contracts. As a result, conversion prices have remained at historical highs and we have focused on agreeing long-term supply terms with our customers to meet growing demand. Since the beginning of the year, we have added over 50 million pounds in the uranium segment and over 7 million kgU in UF to our long-term contract portfolio.₆ Transformation of the fuel services sector.

qualified person

The technical and scientific information contained in this document regarding the material properties of Cigar Lake and MacArthur River/Key Lake was obtained from Lloyd Lawson, General Manager of Cigar Lake and Cameco, and Greg, General Manager of MacArthur River/Key Lake, respectively. Endorsed by Murdoch. He is a Cameco qualified person for purposes of NI 43-101.

Cautionary Note Regarding Forward-Looking Statements

Examples of forward-looking information contained in this news release include: Projected production in the Uranium and Fuel Services segments from Cigar Lake in Q3 2022. First production expected from reopening at McArthur River and Key Lake. Expected release date for Q3 2022 results. Such statements constitute forward-looking information within the meaning of applicable securities laws in Canada and the United States, including the Private Securities Litigation Reform Act of 1995. “plan”, “goal”, “expect” or “not expect”, “expect”, “should”, “opportunity exists”, “positioned”, “estimate”, “intend,” “assume,” “predict,” “do not predict,” “believe,” or any variation of such words or phrases, or that any particular action, event, or outcome “could” , “may”, “will”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, statements that refer to expectations, forecasts or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates and is subject to known and unknown risks, uncertainties and risks that we believe to be reasonable as of the date of this press release. Subject to certainty, assumptions and other possible causative factors. actual results, level of activity, performance or achievements that may differ materially from those expressed or implied by such forward-looking information; The factors detailed in the “Risk Factors” section of our current Annual Information Form and our other materials filed with the Canadian securities regulators and the SEC from time to time are available at www.sedar.com and www.sedar.com. Available at .sedar.com. sec.gov, respectively. These factors are not intended to represent an exhaustive list of factors that may affect the company. However, these factors should be carefully considered. There is no assurance that such estimates or assumptions will prove correct. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not make statements that include forward-looking information or the factors or assumptions underlying them. We expressly disclaim any obligation to update or modify. new information, future events or other results, except as required by law;

provisional results

All financial forecasts in this press release are preliminary as the third quarter financial close process has not yet been completed. These estimates are not comprehensive statements of our financial condition and results of operations. Forecasts contained herein are based on and are based on a number of assumptions, estimates and business decisions that are inherently subject to important business and economic conditions, competitive uncertainties and contingencies. Many are beyond our control. Actual results may differ materially from these estimates as a result of the completion of normal quarter-end procedures and adjustments, including the execution of internal controls over financial reporting, completion of preparations and management’s review of the relevant period’s financial statements. may vary. Occurrence or identification of subsequent events prior to the release of financial results for the quarter ended September 30, 2022.

profile

Cameco is one of the world’s largest providers of the uranium fuel needed to power a clean-air world. Our competitive edge is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Power companies around the world rely on our nuclear fuel products to generate safe, reliable and carbon-free nuclear power. Our shares are traded on the Toronto and New York stock exchanges. The company is headquartered in Saskatoon, Saskatchewan.

The terms “we”, “us” and “Cameco” as used in this news release mean Cameco Corporation and its subsidiaries unless otherwise stated.

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