Cameco to Announce Q2 Earnings from Bruce Power on July 23.

SASKATOON, Saskatchewan -- Cameco Corporation (NYSE:CCJ) (TSX:CCO) will report its share of Bruce Power's second quarter results on July 23, 2004. Cameco's full second quarter results will be released one week later on July 30.

Reporting of Cameco's full second quarter results is being delayed to coincide with the release of the initial quarterly results of Centerra Gold Inc. which now holds Cameco's gold assets. The new Canadian-based gold company completed its initial public offering on June 30, 2004 and began trading on the Toronto Stock Exchange.

The release of Bruce Power's quarterly results is timed to coincide with those of TransCanada Corporation, which include earnings from Bruce Power.

Cameco has scheduled a conference call on Friday, July 30 at 3:15 p.m. Eastern time (1:15 p.m. Saskatoon time) to discuss its second quarter results. The call will be open to all investors and the media. Members of the media will be invited to ask questions at the end of the call. In order to join the conference call, please dial [phone] or [phone] (Canada and US). An operator will put your call through. Alternatively an audio feed of the conference call will be available on the web site at www.cameco.com by using Windows Media Player or Real Player software. See the link on the home page on the day of the call.

A recorded version of the proceedings will be available:

- on our web site, www.cameco.com, shortly after the call, and

- on post view until midnight on Friday, August 13 by calling [phone] or [phone] (pass code: 3076124)