SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 Under
the Securities Exchange Act of 1934
For the month of September, 2006
(Commission file No. 1-14228)
2121-11th Street West
Saskatoon, Saskatchewan, Canada S7M 1J3
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
Form 20-F o Form 40-F þ
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No þ
If Yes is marked, indicate below the file number assigned to the registrant in connection with
web site address:
2121 11th Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada
Tel: (306) 956-6200 Fax: (306) 956-6201
Cameco Confirms Uranium Supply
Saskatoon, Saskatchewan, Canada, September 25, 2006 . . . . . . . . . . . . .
Cameco Corporation became aware today of incorrect and misleading speculation about the companys
recent uranium purchase and existing supplies.
Cameco confirms that the company has sufficient uranium to meet all current and future sales
commitments based on its inventory of uranium, current mining plans, reserve base and long-term
purchase agreements. The companys uranium supply situation remains unchanged from the disclosure
in the last quarters managements discussion and analysis.
In addition to being the worlds largest uranium producer, Cameco is one of the worlds largest
uranium traders. The recent purchase of about 1 million pounds U3O8 (400
tonnes as UF6) at an average weighted price of less than $51 (US) per pound
U3O8 was one example of trading activity. The company identified this
purchase as a buying opportunity and has already sold a portion of this material at higher prices.
Cameco expects to sell the remainder of this material at a profit. Since the company purchased this
material, the uranium spot price has increased to more than $53 (US) per pound
U3O8. Cameco will continue to look for trading opportunities.
The statements regarding the companys future financial outlook are based on the following key
assumptions: no significant changes in our estimates for sales volumes, costs and prices as well
as no disruption of supply from our mines or third-party sources.
Cameco, with its head office in Saskatoon, Saskatchewan, is the worlds largest uranium producer.
The companys uranium products are used to generate electricity in nuclear energy plants around the
world, providing one of the cleanest sources of energy available today. Camecos shares trade on
the Toronto and New York stock exchanges.
Statements contained in this news release, which are not historical facts, are forward-looking
statements that involve risks, uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such forward-looking statements. Factors that
could cause such differences, without limiting the generality of the following, include: the impact
of the sales volume of fuel fabrication services, uranium, conversion services, electricity
generated and gold; volatility and sensitivity to market prices for uranium, conversion services,
electricity in Ontario and gold; competition; the impact of change in foreign currency exchange
rates and interest rates; imprecision in decommissioning, reclamation, reserve and tax estimates;
environmental and safety risks including increased regulatory burdens and long-term waste
disposal; unexpected geological or hydrological conditions; adverse mining conditions; political
risks arising from operating in certain developing countries; terrorism; sabotage; a possible
deterioration in political support for nuclear energy; changes in government regulations and
policies, including tax and trade laws and policies; demand for nuclear power; replacement of
production; failure to obtain or maintain necessary permits and approvals from government
authorities; legislative and regulatory initiatives regarding deregulation, regulation or
restructuring of the electric utility industry in Ontario; Ontario electricity rate regulations;
natural phenomena including inclement weather conditions, fire, flood, underground floods,
earthquakes, pit wall failure and cave-ins; ability to maintain and further improve positive labour
relations; strikes or lockouts; operating performance, disruption in the operation of, and life of
the companys and customers facilities; decrease in electrical production due to planned outages
extending beyond their scheduled periods or unplanned outages; success of planned development
projects; and other development and operating risks.
Although Cameco believes that the assumptions inherent in the forward-looking statements are
reasonable, undue reliance should not be placed on these statements, which only apply as of the
date of this report. Cameco disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
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