Cameco updates on Saskatchewan flooding impact

Cameco Corporation reported an operational update for its northern Saskatchewan sites following regional flooding that has damaged transportation routes.

Rhea-AI Filing Summary

Cameco Corporation reported an operational update for its northern Saskatchewan sites following regional flooding that has damaged transportation routes. Flooding caused the collapse of the Smoothstone River Bridge on the primary supply route to the McArthur River mine and Key Lake mill, and restrictions exist on an alternative road.

As a result, Cameco has temporarily halted production activities at the Key Lake mill and reduced activity at the McArthur River mine until normal deliveries of critical operating materials can resume, with the timing currently unknown. The Cigar Lake mine continues to operate, and the company’s consolidated annual production plan remains unchanged, although Cameco notes a risk that its 2026 production outlook for the McArthur River/Key Lake operation could be affected depending on the duration of road restrictions and delivery capabilities.

Insights

Mining operations and risk analyst

Cameco faces logistics-driven disruptions at two key Saskatchewan assets while maintaining its overall annual production plan.

Cameco temporarily halted the Key Lake mill and reduced activity at the McArthur River mine because flooding collapsed a key bridge and constrained an alternative route. The sites themselves are not flooded; the issue is logistics for critical operating materials.

The company states its consolidated annual production plan remains unchanged, but it acknowledges that the 2026 production outlook for the McArthur River/Key Lake operation could be impacted if road restrictions persist. Actual effects will depend on how quickly normal deliveries resume and whether alternative transport arrangements can reliably support operations.

Cigar Lake continues to operate, which helps support Cameco’s broader uranium supply position. Subsequent company communications may clarify any revisions to the McArthur River/Key Lake 2026 outlook if access challenges continue beyond the current, unspecified timeline.

Key Terms

northern Saskatchewan sites, McArthur River mine, Key Lake mill, consolidated annual production plan, +2 more

6 terms

northern Saskatchewan sites financial

"provided an operational update for our northern Saskatchewan sites amidst flooding in the region"

McArthur River mine financial

"reduced activity at McArthur River mine until the normal delivery of critical operating materials can resume"

Key Lake mill financial

"temporarily halted production activities at Key Lake mill and reduced activity at McArthur River mine"

consolidated annual production plan financial

"At present, the Cigar Lake mine continues to operate, and our consolidated annual production plan remains unchanged"

uranium fuel financial

"Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future"

nuclear fuel cycle financial

"significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company"

The nuclear fuel cycle is the full supply chain that turns raw uranium into usable reactor fuel, manages its use in power generation, and handles spent fuel and any recycling or disposal. Think of it like the path from coffee beans to a brewed cup and the leftover grounds — each step (mining, conversion, enrichment, fabrication, reactor use, storage or reprocessing) affects cost, regulatory risk, supply security and long-term liabilities, all of which influence the value and prospects of companies involved.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How is Cameco (CCJ) affected by flooding in northern Saskatchewan?

Cameco’s northern Saskatchewan sites are not directly flooded, but regional flooding caused the collapse of the Smoothstone River Bridge and restrictions on an alternative road. These transportation issues disrupted deliveries of critical operating materials, forcing operational changes at the Key Lake mill and McArthur River mine.

Which Cameco (CCJ) operations have been halted or reduced due to the flooding?

Cameco has temporarily halted production activities at the Key Lake mill and reduced activity at the McArthur River mine. These steps are in place until normal deliveries of critical operating materials can resume via road access, which is currently affected by the collapsed bridge and roadway restrictions.

Is Cameco’s (CCJ) Cigar Lake mine still operating despite the flooding?

Yes, Cameco states that the Cigar Lake mine continues to operate. The flooding issues are impacting transportation routes rather than directly affecting the mine sites themselves, so Cigar Lake remains in operation while the company addresses logistics challenges for other northern Saskatchewan operations.

Has Cameco (CCJ) changed its consolidated annual production plan after the flooding?

Cameco indicates that its consolidated annual production plan remains unchanged at this time. Although the company has halted and reduced some activities, it has not yet revised its overall annual production expectations, while it works to manage delivery disruptions and assess the duration of road restrictions.

What risk does Cameco see to its 2026 production outlook for McArthur River/Key Lake?

Cameco notes a risk that its 2026 production outlook for the McArthur River/Key Lake operation could be impacted. This depends on how long road restrictions last and the company’s ability to deliver critical operating materials to those sites under the current transportation constraints.

How is Cameco (CCJ) responding to the Saskatchewan flooding and bridge collapse?

Cameco is in regular contact with the Saskatchewan Ministry of Highways and working with its sites to minimize the impact of delivery disruptions. Operationally, it has temporarily halted Key Lake mill production and reduced McArthur River mine activity until normal deliveries of critical operating materials resume.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 02:59 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May, 2026

Commission File Number 1-14228

Cameco Corporation

(Translation of Registrant’s Name into English)

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       Form 40-F ✓   

Exhibit Index
Exhibit No.		Description
99.1		Press Release dated May 10, 2026

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 11, 2026		Cameco Corporation
		By: /s/ R. Liam Mooney
		R. Liam Mooney
		Senior Vice-President and Chief Legal Officer

Exhibit 99.1

NEWS RELEASE   All amounts in Canadian dollars unless specified otherwise www.cameco.com Saskatoon   Saskatchewan Canada

Northern Saskatchewan Operations Update

May 10, 2026

Cameco (TSX: CCO; NYSE: CCJ) today provided an operational update for our northern Saskatchewan sites amidst flooding in the region, which is impacting roadways.

Our northern Saskatchewan sites are not directly impacted by flood waters. However, flooding has caused the collapse of the Smoothstone River Bridge, which is on the primary route we use to transport supplies to the McArthur River and Key Lake sites, and there are restrictions in place on the use of an alternative roadway. We are in regular contact with the Saskatchewan Ministry of Highways, and we are working with our sites to minimize the impact of delivery disruptions. However, we have temporarily halted production activities at Key Lake mill and reduced activity at McArthur River mine until the normal delivery of critical operating materials can resume. The timeline for the resumption of normal deliveries is currently unknown.

At present, the Cigar Lake mine continues to operate, and our consolidated annual production plan remains unchanged. Depending on the duration of the road restrictions and our ability to make deliveries of critical operating materials, there is a risk that our 2026 production outlook for the McArthur River/Key Lake operation could be impacted.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.

As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.

- End -

Investor inquiries		Media inquiries
Cory Kos		Veronica Baker
306-716-6782		306-385-5541
cory_kos@cameco.com		veronica_baker@cameco.com

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 7.5 KB