Cameco Announces Filing of a Technical Report for the McArthur River Operation

SASKATOON, SASKATCHEWAN--(Marketwire - Nov. 2, 2012) -

Cameco (TSX:CCO) (NYSE:CCJ) announced today that it filed a technical report under Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects for its McArthur River operation in Northern Saskatchewan titled "McArthur River Operation, Northern Saskatchewan, Canada" dated November 2, 2012, with an effective date of August 31, 2012.

The technical report is posted on our website at cameco.com. Shareholders may obtain hard copies of the technical report free of charge by contacting:

Cameco Investor Relations

2121 11th Street West

Saskatoon, SK S7M 1J3

Phone: (303) 956-6340

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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.

As used in this news release, "Cameco" or the "company" means Cameco Corporation, a Canadian corporation and its subsidiaries and affiliates unless stated otherwise.