Cigar Lake Operation Update

About this update from Cameco Corporation

Cigar Lake Operation Update .bwalignc { text-align: center; list-style-position: inside } All amounts in Canadian dollars unless specified otherwise. Cameco (TSX: CCO; NYSE: CCJ) today announced our Cigar Lake mine in northern Saskatchewan has temporarily suspended operations due to challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed. Orano’s McClean Lake mill has encountered operational challenges with its sulfuric acid plant that caused it to shut down in order to repair the issue. Orano is currently working to bring the acid plant back online and is assessing options to obtain acid supply from an alternative source while it waits for replacement parts to complete the repair. With limited ore storage capacity at Cigar Lake, we have temporarily suspended mining activities until sufficient acid is available to allow milling to resume at McClean Lake. At present, we expect the McClean Lake mill to return to operation in approximately two weeks, and we do not expect the disruption to impact our 2026 production outlook for Cigar Lake. However, there is a risk that the repairs to the acid plant take longer than planned and that mining at Cigar Lake is unable to resume on the expected schedule. Depending on the duration of any additional delays, our 2026 production outlook could be impacted. Caution about forward-looking information This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include the temporary nature of the suspension, our expectations regarding the return to regular operations at the McClean Lake mill, and our expectations regarding the impact on our 2026 production outlook for Cigar Lake. Material risks that could lead to different results include the possibility of a longer suspension of operations, due to the repairs to the acid plant taking longer than expected, difficulties in sourcing sulfuric acid from an alternative source, or for other reasons. In presenting this forward-looking information, we have made assumptions which may prove incorrect, including assumptions regarding...

View stock analysis, news, and events for Cameco Corporation