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Press release from Marketwire

Cameco Elects New Board Member

Tuesday, May 15, 2012

Cameco Elects New Board Member16:36 EDT Tuesday, May 15, 2012SASKATOON, SASKATCHEWAN--(Marketwire - May 15, 2012) -Cameco (TSX:CCO) (NYSE:CCJ) announced the election of new board member Ian Bruce at the company's annual meeting today.Bruce, a chartered accountant and former co-chairman of the board of independent investment dealer Peters & Co. Limited, brings extensive experience in investment banking, finance, and mergers and acquisitions, and has provided investment underwriting and advisory services to energy industry corporations, institutional investors and private clients."Ian's experience with capital markets and investment banking will further enhance the quality of the board's decision-making and its oversight of management and our business affairs," said board chair Victor Zaleschuk.Shareholders also re-elected board members Daniel Camus, John Clappison, Joe Colvin, James Curtiss, Donald Deranger, Tim Gitzel, James Gowans, Nancy Hopkins, Oyvind Hushovd, Anne McLellan, Neil McMillan and Victor Zaleschuk. ProfileCameco, 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.FOR FURTHER INFORMATION PLEASE CONTACT: Rachelle GirardCamecoInvestor inquiries(306) 956-6403ORMedia inquiriesRob Gereghty(306) 956-6190