Contents:

1 Table Of Contents 1.1 List of Tables 1.2 List of Figures 2 Executive Summary 2.1 Uranium Mining Industry Scenario in Canada 2.2 Trends and Developments in Canada’s Uranium Mining Industry 3 Uranium Mining Industry in Canada 3.1 Overview 3.2 Uranium Reserves in Canada 3.3 Uranium Production in Canada 3.3.1 Canada uranium production vs. Global uranium production 3.3.2 Canada uranium production vs. North America uranium production 3.4 Major Mines in Canada 3.5 Uranium mining sector development 3.5.1 Canada’s Historical and Projected Uranium Production 3.5.2 McArthur River Mine 3.5.3 McClean Lake Mine 3.5.4 Rabbit Lake Mine 3.5.5 Cigar Lake Mine 3.5.6 Midwest Mine 3.5.7 Uranium Mines under Exploration 3.6 Regulatory Framework 3.6.1 Mining Policy 3.6.2 Regulations 4 Trends and Developments in Canada's Uranium Mining Industry 4.1 Key drivers, Challenges and Trends 4.1.1 Key drivers 4.1.2 Challenges 4.1.3 Trends 4.2 Canada's Uranium Mining Outlook 4.2.1 Investment Opportunities: Uranium mining 5 Key Players in Canada's Uranium Mining Industry 5.1 Cameco Corporation 5.1.1 Key Information 5.1.2 Company Overview 5.1.3 Industry Outlook – Nuclear 5.1.4 Business Description 5.1.5 Major Products and Services 5.1.6 Key Employees 5.1.7 Key Employee Biographies 5.1.8 Locations And Subsidiaries 5.2 Areva Resources Canada Inc 5.2.1 Company Overview 5.2.2 Key Information 5.2.3 Major Products and Services 5.2.4 Competitors 5.2.5 Key Employees 5.2.6 Locations And Subsidiaries 6 Canada, Deals, Year 2004 to YTD 2009 7 Recent Developments 7.1 New Contracts 7.1.1 Apr 27, 2009: Denison Announces Five Year Uranium Sales Contract 7.1.2 Dec 04, 2008: KRI Signs LoI With Marubeni For Dornod Uranium Mining Project 7.1.3 Nov 05, 2008: AREVA Receives Contract From Cameco To Supply Uranium Powder For Ontario Reactors 7.1.4 Jan 16, 2008: Bluerock Signs LoI With Denison For Uranium Toll Milling 7.1.5 Aug 21, 2007: Uranium One Signs Uranium Toll Milling Agreement With PRI 7.1.6 Jun 28, 2007: Crescent Resources Signs Drilling Contract With Compania Paraguaya For Oviedo Uranium Project 7.2 Operations Updates 7.2.1 May 14, 2009: JNR Resources Provides Update On Rocky Brook Project, Western Newfoundland 7.2.2 May 12, 2009: ESO Uranium Completes Airborne Geophysical Survey On East Athabasca Claims 7.2.3 May 11, 2009: Santoy Resources Announces Plans For 2009 Quebec Exploration 7.2.4 May 11, 2009: Kodiak Exploration Discovers Uranium Mineralized Zone With Multiple Drill Holes At West Millennium Project, Saskatchewan 100 7.2.5 May 07, 2009: Uracan Resources Reports Drilling Results On Double S Zone At North Shore Property, Quebec 7.2.6 May 07, 2009: Equinox Minerals To Construct Uranium Plant In Zambia 7.2.7 May 07, 2009: Forum Uranium Completes EM And Gravity Survey On Costco Area At Key Lake Road Project, Athabasca Basin 7.2.8 May 07, 2009: Pitchstone Plans Drilling On Gumboot Property, Eastern Athabasca Basin, Saskatchewan 7.2.9 May 05, 2009: Silver Spruce Reports 2008 Uranium Exploration Results Of Double Mer And Straits Properties, Labrador 7.2.10 May 05, 2009: Dios Exploration Reports Final Results For 2008 Follow-Up Program On Opinaca Nord Uranium Project, Quebec 7.2.11 May 01, 2009: CanAlaska Uranium Reports Drilling Results On Cree East Uranium Project, Athabasca Basin 7.2.12 Apr 28, 2009: Waseco Resource Provides Update On 2009 Uranium Exploration Program 7.2.13 Apr 22, 2009: Golden Dory Identifies Radiometric Anomalies At Burin Uranium Project, Newfoundland 7.2.14 Apr 22, 2009: Pacific Bay Announces Drilling Update On Ears South Uranium Prospect In Otish Mountains, Northern Quebec 7.2.15 Apr 20, 2009: Endeavor Explorations To Commence Phase 1 Exploration Program On Don Lake Uranium Deposit 7.2.16 Apr 20, 2009: Uranium North Announces Plans For Drill Program At Amer Lake Property, Nunavut 7.2.17 Apr 15, 2009: Hathor Exploration Extends Uranium Mineralization At Roughrider Zone 7.2.18 Apr 14, 2009: Abitex Resources Discovers Uranium On Epsilon Property, Quebec 7.2.19 Apr 30, 2009: Hathor Exploration Provides Drilling Update On Roughrider Zone At Midwest NorthEast Property, Saskatchewan 7.3 Financial Announcements 7.3.1 May 13, 2009: Aurizon Mines Reports CAD5 Million Net Earnings In Q1 2009 7.3.2 May 13, 2009: Mega Uranium Reports CAD2.2 Million Net Income In Q2 Fiscal 2009 7.3.3 May 13, 2009: Denison Reports $1.3 Million Net Loss In Q1 2009 7.3.4 May 11, 2009: Uranium One Reports Net Earnings Of $61.1 Million In Q1 2009 7.3.5 May 07, 2009: SNC-Lavalin Reports Net Income Of CAD77.5 Million In Q1 2009 7.3.6 May 06, 2009: Equinox Minerals Reports $60,591 Net Loss In Q1 2009 7.3.7 May 01, 2009: Cameco Reports CAD82 Million Net Earnings In Q1 2009 7.3.8 May 01, 2009: TransCanada Posts CAD334 Million Net Income In Q1 2009 7.3.9 Apr 27, 2009: Lexam Explorations Reports CAD2.7 Million Net Loss In 2008 7.3.10 Apr 23, 2009: Uranium Participation Reports Operating Expenses Of CAD5.9 Million In Fiscal 2009 7.3.11 Apr 08, 2009: Hydro-Quebec Reports Revenues Of CAD12.7 Billion For 2008 7.3.12 Apr 02, 2009: Monroe Reports CAD190,500 Net Income In 2008 7.3.13 Apr 01, 2009: Vena Resources Reports CAD4.8 Million Net Loss In Fiscal 2008 7.4 Strategy and Business Planning 7.4.1 Apr 03, 2009: Equinox Minerals Announces Plans For Construction Of Uranium Project At Lumwana, Zambia 7.4.2 Feb 23, 2009: Yellowcake Mining Receives Notification For Termination Of JV From KEPCO 7.4.3 Feb 04, 2009: Denison Receives Approval From BLM For Uranium Mining In Big Gypsum Valley 7.4.4 Jan 25, 2009: Uravan Submitts LUP Application To NIRB On Garry Lake Uranium Project 7.4.5 Nov 27, 2008: Majescor, Strateco Plan Winter Exploration Program And Sign Agreement For The Mistassini Uranium Property 7.4.6 Nov 05, 2008: Strateco Files Licence Application For Underground Exploration Program At Matoush Uranium Property 7.5 Government and Public Interest 7.5.1 May 08, 2009: Uranium Spot Price Increases Up To $49 Per Pound 7.5.2 Apr 30, 2009: Uranium Spot Price To Increase In 2010: Denison CEO 7.5.3 Apr 29, 2009: Ontario Cottage Owners Urge Government To Ban Uranium Exploration And Mining 7.5.4 Apr 27, 2009: Uranium Rises To 6% For Second Week 7.5.5 Dec 08, 2008: India To Receive Uranium Imports By April 2009 8 Appendix 8.1 Methodology 8.1.1 Coverage 8.1.2 Secondary Research 8.1.3 Primary Research 8.1.4 Forecasts 8.1.5 Expert Panel Validation 8.2 Definitions 8.2.1 Units of Measure 8.3 Contact Us 8.4 Disclaimer 1.1 List of Tables Table 1: Canada Uranium Reserves, tU, 2000-07 10 Table 2: Uranium Production from Major Mines in Canada, tU, 2000-08 14 Table 3: Canada, Historical and Projected Uranium Production, tU, 2000-15 16 Table 4: McArthur River, Historical and Projected Uranium Production, tU, 2000-15 19 Table 5: McClean Lake, Historical and Projected Uranium Production, tU, 2000-15 22 Table 6: Rabbit Lake, Historical and Projected Uranium Production, tU, 2000-15 24 Table 7: Canada, Uranium Mines Under Exploration 27 Table 8: Cameco Corporation,Key Facts 36 Table 9: Cameco Corporation, Key Employees 39 Table 10: Cameco Corporation, Subsidiaries 41 Table 11: AREVA Resources Canada Inc.,Key Facts 42 Table 12: AREVA Resources Canada Inc., Key Employees 43 Table 13: Canada, Deals, Year 2004 to YTD 2009 45 1.2 List of Figures Figure 1: Canada Uranium Reserves, tU, 2000-07 9 Figure 2: Canada’s Percentage Contribution of Uranium Reserves, World & North America, 2007 10 Figure 3: Canada Uranium Production Vs. Global Uranium Production, 2007 11 Figure 4: Canada Uranium Production Vs. North America Uranium Production, 2007 12 Figure 5: Canada, Major Mines Uranium Production, Percentage Share, 2008 13 Figure 6: Uranium Production from Major Mines in Canada, tU, 2000-08 14 Figure 7: Canada, Historical and Projected Uranium Production, tU, 2000-15 15 Figure 8: Canada, McArthur River Mine Ownership 17 Figure 9: McArthur River, Historical and Projected Uranium Production, tU, 2000-15 18 Figure 10: Canada, McClean Lake Mine Ownership 20 Figure 11: McClean Lake, Historical and Projected Uranium Production, tU, 2000-15 21 Figure 12: Rabbit Lake, Historical and Projected Uranium Production, tU, 2000-15 23 Figure 13: Cigar Lake Mine, Ownership 25 Figure 14: Midwest Mine, Ownership 26 Figure 15: Canada, Deals, Year 2004 to 2009 44 Figure 16: GlobalData Methodology 110

Companies Mentioned

- Cameco Corporation - Areva Resources Canada Inc