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NEWS RELEASE

For Immediate Release: October 29, 1998

COGEMA RESOURCES INC. SUPPORTS CLEARWATER RIVER DENE NATION TREATMENT CENTRE

COGEMA Resources Inc. today presented the first installment of a $100,000 total donation towards the construction of the Clearwater River Dene Nation Treatment Centre. The treatment centre is being constructed at the Dene community in northwest Saskatchewan to increase the rate of long term rehabilitation of people suffering from alcohol and drug abuse in northern Saskatchewan.

"This will be the first treatment centre in the western provinces with all of its program content in the Dene language," said Clearwater Chief Roy Cheecham. "The success rate of our Dene people will be enhanced because the treatment will take place in our own language and culture in a northern Dene community."

The centre is in a forest environment. A circular spiritual/healing room will be located at the core of this unique building. The facility will also have dormitory space for up to 20 beds as well as a recreation area and space for support services. "We are very proud that the centre is being well built by 100 per cent band member labour," said Cheecham. "This provides economic development in addition to a modern facility for the health and well-being of Dene people."

COGEMA President and CEO, Arnaud de Bourayne today presented the cheque for the first installment of $50,000. The second $50,000 will be provided in January 1999. "The Clearwater River Dene Nation is one of the closest communities to our Cluff Lake Mine," said de Bourayne. "This community is very business oriented. Through employment and joint ventures such as Clearwater Catering and Mudjatic Thyssen Mining, Clearwater is closely involved with Cluff Lake. We are pleased to continue to be a part of the community through this donation."

Headquartered in Saskatoon, COGEMA Resources Inc. operates mining and milling facilities at Cluff Lake in northern Saskatchewan. COGEMA Resources is also operator and majority owner of the McClean Lake and Midwest uranium projects, and part owner of the Cigar Lake and McArthur River uranium mines. Of the company's 530 employees in Saskatchewan, 45% are from northern communities.

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