Cameco Reports Document Filings

All amounts in Canadian dollars unless specified otherwise

Cameco( TSX: CCO; NYSE: CCJ) reported today that it filed a technical report for the Inkai operation on a voluntary basis under National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101"). The technical report is being filed to provide updated information relating to the Inkai operation and not as a result of a requirement under NI 43-101. The technical report has been posted on our website and SEDAR+ at www.sedarplus.ca and on EDGAR on the SEC website at www.sec.gov . Our website, SEDAR+ and EDGAR are not part of this press release and are not incorporated by reference herein. Readers are encouraged to read the technical report in its entirety, including all qualifications, assumptions and exclusions therein.

Additionally, Cameco filed a short form base shelf prospectus dated November 12, 2024 (the "Base Shelf Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada, and a corresponding shelf registration statement on Form F-10 with the United States Securities and Exchange Commission under the Multijurisdictional Disclosure System (File No. 333-283140) (the "U.S. Registration Statement"). These filings allow Cameco to make offerings of common shares, preferred shares, warrants, subscription receipts, debt securities and units or any combination thereof, having an aggregate offering price of up to $2 billion (US) (or its equivalent in another currency) during the next 25 months in Canada and the United States. The specific terms of any offering of securities will be set forth in a shelf prospectus supplement.

In addition, Cameco has entered into an equity distribution agreement (the "Distribution Agreement") dated November 12, 2024 with TD Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc., as Canadian agents, and TD Securities (USA) LLC, CIBC World Markets Corp. and Scotia Capital (USA) Inc., as U.S. agents, to establish an at-the-market equity program (the "ATM Program") that allows Cameco to issue, at its discretion, up to $500 million (US) (or its Canadian dollar equivalent) of common shares from treasury to the public from time to time. The ATM Program is established pursuant to a prospectus supplement to the Base Shelf Prospectus (the "Canadian ATM Supplement"), and a corresponding prospectus supplement to the U.S. Registration Statement (the "U.S. ATM Supplement"). The ATM Program will be effective until December 12, 2026, unless fully utilized or terminated before such date in accordance with the terms of the Distribution Agreement.

Subject to the terms of the Distribution Agreement, the volume and timing of distributions under the ATM Program, if any, will be determined at Cameco's sole discretion. As common shares sold in the ATM Program will be distributed at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the distribution. Any common shares sold in the ATM Program will be sold in transactions that are deemed to be "at-the-market distributions" as defined in National Instrument 44-102 - Shelf Distributions, through the Toronto Stock Exchange, the NYSE or by any other method permitted by law, at the prevailing market price at the time of sale.

Net proceeds of the ATM Program, if any, are expected to fund development opportunities, future acquisitions, repayment of indebtedness, and/or other general corporate purposes.

"Today, our balance sheet is strong, and with the return to our tier-one production run rate and cost basis, we expect continued strong cash flow generation," said Grant Isaac, Cameco's Executive Vice-President and CFO. "And, we are adding to the tools we have available to fund future capital requirements, which include our operating cash flow, our existing credit facilities, new credit facilities, and additional capital raised through debt or equity financings. We believe having all these financial tools in place is prudent, providing us with added flexibility to support our strategy and to self-manage risk into the future."

Cameco has filed the Base Shelf Prospectus and the Canadian ATM Supplement with the securities regulatory authorities in each of the provinces and territories of Canada, and has filed the U.S. Registration Statement and the U.S. ATM Supplement with the United States Securities and Exchange Commission (the "SEC"). Before you invest, you should read these documents and other documents Cameco has filed with the securities regulatory authorities in each of the provinces and territories of Canada or the SEC, as applicable, for more complete information about Cameco and the ATM Program. Copies of the Base Shelf Prospectus, the Canadian ATM Supplement and the Distribution Agreement are available free of charge on SEDAR+ at www.sedarplus.ca , and copies of the U.S. Registration Statement, the U.S. ATM Supplement and the Distribution Agreement are available free of charge on EDGAR on the SEC website at www.sec.gov .

You may also obtain copies of the Base Shelf Prospectus and the Canadian ATM Supplement in Canada from: TD Securities Inc., 1625 Tech Avenue, Mississauga, Ontario, L4W 5P5, Attention: Symcor, NPM, or by telephone at 289-360-2009 or by email at sdcconfirms@td.com ; CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 1-416-956-6378 or by email at Mailbox.CanadianProspectus@cibc.com ; or Scotia Capital Inc., 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, Attention: Equity Capital Markets, or by telephone at 416-863-7704, or by email at equityprospectus@scotiabank.com . You may also obtain copies of the U.S. Registration Statement and the U.S. ATM Supplement in the United States from: TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, Attention: Equity Capital Markets or by email at TD.ECM_Prospectus@tdsecurities.com ; CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 1-416-956-6378 or by email at Mailbox.USProspectus@cibc.com ; or Scotia Capital (USA) Inc., 250 Vesey Street, 24th Floor, New York, NY 10281, Attention: Equity Capital Markets or by telephone at 212-255-6854 or by email at us.ecm@scotiabank.com .

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities in any province, territory, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, territory, state or jurisdiction.

Caution about forward-looking information

Certain information in this news release, including statements regarding potential sales of common shares through the ATM Program, the anticipated use of the net proceeds of the ATM Program and expected continued strong cash flows, constitutes "forward-looking information" within the meaning of applicable securities laws in Canada and the United States, including the U.S. Private Securities Litigation Reform Act of 1995.

Forward-looking information and statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by them. Sentences and phrases containing words such as "believe", "estimate", "anticipate", "plan", "will", "intend", "predict", "outlook", "goal", "target", "forecast", "project", "scheduled", "proposed", "expect", "potential", "strategy", and the negative of any of these words, or variations of them, or comparable terminology that does not relate strictly to current or historical facts, are all indicative of forward-looking information or statements.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Cameco as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" section of Cameco's current annual information form, the Canadian ATM Supplement, the U.S. ATM Supplement and in Cameco's other materials filed with the Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.ca and www.sec.gov , respectively. These factors are not intended to represent a complete list of the factors that could affect Cameco; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and Cameco expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.

As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.

Investor inquiries:  
Cory Kos
306-716-6782
cory_kos@cameco.com

Media inquiries:  
Veronica Baker
306-385-5541
veronica_baker@cameco.com

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Cameco and Energoatom Agree on Commercial Terms to Supply Ukraine's Full Natural UF6 Needs through 2035

Cameco and Energoatom Agree on Commercial Terms to Supply Ukraine's Full Natural UF6 Needs through 2035

SE NNEGC Energoatom (Energoatom), Ukraine's state-owned nuclear energy utility, and Cameco Corporation (Cameco) (TSX: CCO; NYSE: CCJ), one of the largest global producers of uranium fuel based in Canada, have reached agreement on commercial terms for a major supply contract for Cameco to provide sufficient volumes of natural uranium hexafluoride, or UF 6 (consisting of uranium and conversion services), to meet Ukraine's full nuclear fuel needs through 2035. Key commercial terms, such as pricing mechanism, volume and tenor, have been agreed to, but the contract is subject to finalization, which is anticipated in the first quarter of 2023.

"Energoatom will keep working on achieving the energy independence of Ukraine. The development of cooperation between companies in the production and supply of nuclear materials and nuclear fuel is one of the most important conditions for the further safe functioning of our domestic nuclear power generation," said Petro Kotin, President of Energoatom.

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Cameco and Brookfield Renewable Form Strategic Partnership to Acquire Westinghouse Electric Company

Cameco and Brookfield Renewable Form Strategic Partnership to Acquire Westinghouse Electric Company

Currency: U.S. dollars unless otherwise stated

  • Westinghouse is an industry leader with a strong market position across the nuclear value chain
  • Nuclear power expected to see significant growth driven by energy security and decarbonization trends
  • Acquisition will provide opportunities to generate value and grow the business globally

Cameco Corporation ("Cameco") (NYSE: CCJ; TSX: CCO) and Brookfield Renewable Partners ("Brookfield Renewable") (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners ("the consortium"), are forming a strategic partnership to acquire Westinghouse Electric Company ("Westinghouse"), one of the world's largest nuclear services businesses.

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Baselode Energy

Baselode Intersects Best Drill Hole To Date, 25 Metres From Surface

  • AK22-051 intersected 2,320 cps over 30.1 m starting at 27.0 m drill hole depth, ranks as the best drill hole on the project, and includes six separate intervals of >10,000 cps*
  • AK22-047 intersected 5,229 cps over 7.35 m at 140.65 m , ranks as second-best drill hole on the project, and includes eight separate intervals of >10,000 cps

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (" Baselode " or the " Company ") is pleased to provide an update on the ongoing 20,000 metre diamond drilling program (the " Program ") on the ACKIO high-grade uranium discovery (" ACKIO "), Hook project (" Hook "), Athabasca Basin area (the " Basin "), northern Saskatchewan ( see Figure 1 and Table 1 ).

"We continue to hit mineralization at the overburden contact; within 25 m from surface. The mineralization from AK22-051 is the shallowest being drilled in the Basin. This rarity of near-surface mineralization with high levels of radioactivity sets Baselode apart from our peers as there's no other recent discovery this close to surface. Near-surface mineralization has been a key characteristic required for numerous Basin deposits going into production as open pit mines. Holes AK22-051 and AK22-047 are substantially the two best drill holes on ACKIO to date in terms of continuously elevated radioactivity. They also have the highest average levels of radioactivity, and each includes multiple discrete intersections with greater than 10,000 cps. We're excited to see ACKIO grow with near-surface mineralization, including consistently higher levels of radioactivity. AK22-051 remains open in all directions and AK22-047 remains open to the east," said James Sykes , CEO, President and Director of Baselode.

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  Boss Energy

2024 Infill Drilling on Satellite Uranium Growth Deposits Complete

Resource update underway in preparation for bringing significant satellite deposits into the mine plan

Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to announce the conclusion of a successful infill drilling program at the Gould's Dam and Jason's satellite deposits within its Honeymoon Uranium project in South Australia.

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NexGen Achieves Major Permitting Milestone

  • The Canadian Nuclear Safety Commission ("CNSC") has notified NexGen of successful completion of final Federal technical review.
  • This is the key requirement to scheduling a Federal Commission Hearing date and subsequent Federal Project approval decision.
  • The Federal Environmental Assessment ("EA") and License represent the final major approval steps after having received Provincial EA approval in November 2023 .
  • In production, the Rook I Project is poised to make NexGen one of the world's largest and most environmentally conscious mining companies.

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is excited and proud to announce a major milestone in the Federal EA process for its 100%owned Rook I Project ("the Project"). The CNSC has provided NexGen formal confirmation that the Company has successfully addressed all information requests received as part of the Federal technical review. With completion of the CNSC technical review, the next and final steps in the Federal approval process include scheduling a Commission Hearing Date for the Project, subject to which the CNSC will render an approval decision on the Project.

NexGen Energy Ltd. Logo (CNW Group/NexGen Energy Ltd.)

This historic milestone marks a crucial step forward for the Project that has been undergoing Canada's robust and rigorous regulatory process since 2019. Completion of the Federal EA technical review stage follows the CNSC having deemed NexGen's Federal licence application sufficient in September 2023 , and receipt of Provincial EA approval in November 2023 . This development reinforces Canada's path to re-establish itself as the leader in global uranium supply and partner of choice.

Leigh Curyer, Chief Executive Officer, commented: "This exciting outcome is a testament to the exceptional efforts of our entire NexGen team, the collaborative support of our valued Indigenous Nation partners, and our transparent approach with the CNSC to ensure a robust and thorough review that meets the highest standards of environmental protection for the sustainable development of the Rook I Project. Since inception, our honest and innovative holistic approach to the successful development of this generational project has set new industry standards as to what is possible, whilst positively impacting all our valued stakeholders.

Together with the Clearwater River Dene Nation, Métis Nation – Saskatchewan Northern Region 2 and Métis Nation – Saskatchewan , Buffalo River Dene Nation, and Birch Narrows Dene Nation, we are construction ready to deliver transformative and unprecedented social, economic and environmental benefits to local communities, the Province of Saskatchewan, Canada , and the world.

We're not just developing a mine - we're building strong communities while shaping a sustainable and secure global energy future. With over $800 million in cash and liquid assets, we are ready pending a positive Commission decision with all activities required to immediately commence major site works in place."

NexGen is poised to propel Canada back to the forefront of global clean energy fuel production. The Rook I Project embodies NexGen's commitment to elite environmental performance, unprecedented community inclusion, and responsible alignment with global net-zero goals.

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company's flagship Rook I Project is being optimally developed into the largest, low-cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations, and closure. NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically, and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada , and the world.

NexGen is listed on the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol "NXE," and on the Australian Securities Exchange under the ticker symbol "NXG," providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security, and access to power. The Company is headquartered in Vancouver, British Columbia , with its primary operations office in Saskatoon , Saskatchewan.

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission ("SEC") set by the SEC's rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to estimates for CapEx, OpEx and a payback period of 12 months, the appointment of a lead lender group, the availability of financing for the Project, the advancement of detailed engineering and contract negotiations, bolstering the globe's uranium supply chains to meet the rising demand for nuclear energy, the timing and cost of reclamation, including as part of the UGTMF and after-tax free cash flow remaining materially consistent with the FS, Free Cash Flow, Payback Period and IRR relative to various uranium prices, the delivery of clean energy fuel for the future, the development of the largest low cost producing uranium mine globally and incorporating elite standards in environmental and social governance, delivering a project that leads the entire mining industry socially, technically and environmentally, providing generational long-term economic, environmental and social benefits for Saskatchewan, Canada and the world, planned exploration and development activities and budgets, the interpretation of drill results and other geological information, mineral reserve and resource estimates (to the extent they involve estimates of the mineralization that will be encountered if a project is developed), requirements for additional capital, capital costs, operating costs, cash flow estimates, production estimates, the future price of uranium and similar statements relating to the economics of a project, including the Rook I Project. Generally, forward-looking information and statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Forward-looking information and statements are based on NexGen's current expectations, beliefs, assumptions, estimates and forecasts about its business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including, among others, that financing for the Project will be available in a timely manner and on terms acceptable to the Company, the results of planned exploration and development activities will be as anticipated and on time; the price of uranium; the cost of planned exploration and development activities; that, as plans continue to be refined for the development of the Rook I Project, there will be no changes in costs, engineering details or specifications that would materially adversely affect its viability; that financing will be available if and when needed and on reasonable terms; that third-party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration and development activities will be available on reasonable terms and in a timely manner; that there will be no revocation of government approvals; that general business, economic, competitive, social and political conditions will not change in a material adverse manner; the assumptions underlying the Company's mineral reserve and resource estimates and updated/revised CapEx, OpEx, SusEx, and pay back period; assumptions made in the interpretation of drill results and other geological information; the ability to achieve production on the Rook I Project; and other estimates, assumptions and forecasts disclosed in the Feasibility Study for the Rook I Project. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements were considered reasonable by management at the time they were made, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third-party financing, uncertainty of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, the imprecision of mineral reserve and resource estimates, the price and appeal of alternate sources of energy, sustained low uranium prices, aboriginal title and consultation issues, development risks, climate change, uninsurable risks, reliance upon key management and other personnel, risks related to title to its properties, information security and cyber threats, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, changes in laws, regulations and policy, competition for resources, political and regulatory risks, general inflationary pressures, industry and economic factors that may affect the business, and other factors discussed or referred to in the Company's most recent Annual Information Form under "Risk Factors" and management's discussion and analysis under "Other Risks Factors" filed on SEDAR+ at www.sedarplus.ca and 40-F filed on Edgar at www.sec.gov   .

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/nexgen-achieves-major-permitting-milestone-302309673.html

SOURCE NexGen Energy Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/19/c8458.html

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Russia Restricts US Uranium Exports, Retaliating to American Ban

The Russian government has imposed temporary restrictions on enriched uranium exports to the US.

Announced on November 15, the move follows the US' decision toban imports of Russian uranium.

While the US legislation went into effect in August, it allows for waivers to address potential supply disruptions through 2027. The new Russian policy introduces uncertainty during this time period.

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Foremost Clean Energy Announces Strategic Engagement with Red Cloud Financial Services

Foremost Clean Energy Ltd. ( NASDAQ: FMST ) ( CSE: FAT ) (" Foremost " or the " Company "), an emerging North American uranium and lithium exploration company, is pleased to announce today that it has entered into a strategic agreement (the " Agreement ") with Red Cloud Financial Services Inc. (" RCFS" or " Red Cloud "), an arms-length independent contractor, to provide promotional services, including advice on marketing, communications and social media activities. Under the engagement, Red Cloud will be paid a fee of $10,000 per month effective October 14, 2024, for a twelve-month term which automatically renews month-to-month thereafter unless either party provides written notice of termination to the other party thirty (30) days prior to the date of termination.

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Nuclear reactors and a stock chart.

US Plans to Triple Nuclear Power Capacity by 2050

The Biden administration has announced a strategic roadmap to significantly expand the United States' nuclear energy capacity, setting a target to triple capacity by 2050.

In a new nine pillar framework, the Biden-Harris administration has laid out its plans to add 200 gigawatts (GW) of new nuclear energy through new reactor builds, reactivations and upgrades to existing facilities.

The initiative seeks to meet a growing demand for reliable, carbon-free power as the nation transitions away from fossil fuels and toward cleaner energy sources.

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Red graph and arrow pointing down.

Paladin Cuts Uranium Production Forecast, Share Price Declines

Shares of Paladin Energy (ASX:PDN,OTCQX:PALAF) declined this week after the company shared an update on its Langer Heinrich mine and revised its 2025 fiscal year production guidance.

The company now expects the mine to produce 3 million to 3.6 million pounds of U3O8, lower than its earlier prediction of 4 million to 4.5 million pounds. According to Paladin, the drop is the result of lower-than-expected output in October, which was caused by water supply disruptions, as well as continued variability in stockpiled ore.

Production from Langer Heinrich amounted to 186,667 pounds during the month.

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