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NEWS RELEASE

For Immediate Release:May 4, 2001

Saskatoon, Saskatchewan, Canada

Highway 955 Blockade Prevents Access to Cluff Lake Mine 

A blockade established near of the community of La Loche is preventing travel on Provincial Highway 955 north of the community. In addition to serving a small community to the north, the highway is the only access to COGEMA Resources' Cluff Lake uranium mine and mill operation. Members of a local family set up the blockade on Tuesday, May 1, in a dispute with the Province of Saskatchewan regarding construction of cabins in Clearwater Provincial Park.

The Cluff Lake mine employs about 180 COGEMA Resources staff and long-term contractors, most of whom are northerners primarily from the northwest region of the province. The mine is not on the power grid and generates its own electrical power from diesel generators on site. Without the ability to truck diesel fuel, food and other supplies to the mine, the Cluff Lake operation will have to close in a few days resulting in significant layoffs.

COGEMA Resources, its employees and their families are hoping this situation is dealt with as soon as possible.

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 and now Key Lake uranium mines. Of the company's employees at the mine sites, more than 50% are from northern communities.

For further information, please contact:

Tim Gitzel
Senior Vice President & Corporate Counsel
COGEMA Resources Inc.
Phone: (306) 343-4501

Alun Richards           email
Public Relations Specialist
COGEMA Resources Inc.
Phone: (306) 343-4637 or 1-888-9COGEMA (toll-free in Saskatchewan)