Cameco Announces Filing of Preliminary Base Shelf Prospectus Relating to the Issuance of Debentures

SASKATOON, SASKATCHEWAN--(Marketwire - Aug. 17, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWS OR WIRE SERVICES

ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)

Cameco Corporation (TSX:CCO) (NYSE:CCJ) has filed today a preliminary short form base shelf prospectus with securities regulatory authorities in each of the provinces and territories of Canada, relating to the issuance of senior unsecured debentures having an aggregate offering price of up to $1 billion (or its equivalent in one or more foreign currencies or currency units). Once a receipt for the final short form base shelf prospectus has been obtained from applicable Canadian securities regulatory authorities, Cameco may offer and issue from time to time one or more series of senior unsecured debentures during the 25-month period that the final short form base shelf prospectus remains valid. The specific terms of any offering of debentures will be set forth in a shelf prospectus supplement.

No securities may be sold nor may offers to buy be accepted prior to the time at which a receipt for the final base shelf prospectus is obtained from applicable Canadian securities regulatory authorities. This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. This news release does not constitute an offer of securities for sale in the United States and the securities referred to in this news release may not be offered or sold in the United States absent registration or an exemption from registration.

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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.