Cameco welcomes EPA report and recommendations

All, July 28, 2014

Western Australia's Environmental Protection Authority (EPA) has completed assessment of Cameco and Mitsubishi Development's Kintyre uranium project in the remote East Pilbara region of Western Australia.

The EPA has today released its report and recommendations to the Minister for Environment for assessment.

Cameco Australia managing director Brian Reilly has welcomed the report and recommendations which play an important role in the company's plans to advance the project.

"The EPA's report and recommendations are a significant step in the environmental assessment process and the culmination of more than four years of extensive community consultation and rigorous environmental and technical studies," Mr Reilly said.

"We are confident the project can be constructed, operated and closed in a way which maintains the ecological functions and environmental values in the area and will ensure all regulatory conditions, including those recommended by the EPA are met."

Cameco is taking prudent steps to prepare its Australian projects for a development decision when market conditions signal new uranium production is required.

"For Kintyre, this means advancing the project through the environmental assessment process, continuing to build strong relationships with stakeholders and identifying additional resources to improve the economics of the project," Mr Reilly said.

Cameco released the Kintyre Environmental Review and Management Programme for public consultation from November 8, 2013 until February 14, 2014. A total of 43 individual submissions and 2,569 proforma submissions were received, including ten individual submissions from government agencies.

Cameco provided comprehensive responses to all submissions to enable the EPA to finalise its assessment. The EPA decision is now open to public appeal for a two week period.

Kintyre is 70% owned by Cameco, one of the world's largest uranium producers, and 30% by Mitsubishi Development (MDP Uranium Pty Ltd).

The project land is located 60km south of Telfer and 260km northeast of Newman, at the western edge of the Great Sandy Desert in the East Pilbara region of Western Australia.

The uranium deposit was acquired by the JV partners in 2008 and is estimated to contain indicated resources of about 55 million pounds.



Cameco is one of the world's largest uranium producers, with operations in Canada, America, Asia and Australia. The company has been actively exploring for uranium in Australia since 1996 and is involved in a number of projects across the country, including two of Australia's largest undeveloped uranium deposits, Kintyre and Yeelirrie. Cameco's uranium products are used to generate clean electricity in nuclear energy plants around the world. Cameco's shares trade on the Toronto and New York stock exchanges.

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Cadence Willis
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