Exhibit 1

TSX: CCO NYSE: CCJ website: cameco.com currency: Cdn (unless noted)

2121 – 11^th Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada

Tel: 306-956-6200 Fax: 306-956-6201

Cameco Announces Election of Directors

Saskatoon, Saskatchewan, Canada, May 10, 2022    .    .    .    .    .    .    .    .    .     .    .    .    .

Cameco (TSX: CCO; NYSE: CCJ) has announced the election of nine board members at its annual meeting held on May 10, 2022.

Shareholders elected board members Leontine Atkins, Ian Bruce, Daniel Camus, Donald Deranger, Catherine Gignac, Tim Gitzel, Jim Gowans, Kathryn Jackson and Don Kayne.

Voting Results for Cameco Directors

Nominee	Votes For		% Votes For			Withheld		% Votes Withheld
Leontine Atkins		34,045,964		97.26	%		958,868		2.74	%
Ian Bruce		33,809,315		96.58	%		1,195,517		3.42	%
Daniel Camus		32,814,657		93.74	%		2,190,175		6.26	%
Donald Deranger		33,389,776		95.39	%		1,615,056		4.61	%
Catherine Gignac		33,758,357		96.44	%		1,246,475		3.56	%
Tim Gitzel		34,679,038		99.07	%		325,794		0.93	%
Jim Gowans		31,004,171		88.57	%		4,000,661		11.43	%
Kathryn Jackson		34,488,853		98.53	%		515,979		1.47	%
Don Kayne		31,455,465		89.86	%		3,549,367		10.14	%

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

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Investor inquiries:

Rachelle Girard

306-956-6403

rachelle_girard@cameco.com

Media inquiries:

Jeff Hryhoriw

306-385-5221

jeff_hryhoriw@cameco.com