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NEWS RELEASE

For Immediate Release: September 24, 2002

Saskatoon, Saskatchewan, Canada

McCLEAN LAKE OPERATING LICENCE QUASHED

The Federal Court Trial Division has released its decision in the Inter-Church Uranium Committee Educational Co-operative (ICUCEC) vs. Canadian Nuclear Safety Commission (CNSC) and COGEMA Resources Inc. case. The ICUC had been seeking through the court to have McClean Lake's 1999 CNSC operating licence quashed on the basis that a repetition of the environmental assessment was required before the licence should have been issued.

The court ruled that, although the project had already been subjected to an extensive environmental assessment, an additional environmental assessment was required prior to issuing an operating licence. COGEMA Resources is taking immediate steps to request the Federal Court of Appeal to have the decision to quash the licence stayed while an appeal is heard.

The ICUCEC has not criticized the actual performance of the McClean Lake facility, but have based their case on a technical question about the administration of the licensing process.

Headquartered in Saskatoon, COGEMA Resources is operator and majority owner of the McClean Lake uranium operation located about 700 km. northeast of Saskatoon. The company owns and operates mining and milling facilities at Cluff Lake in northern Saskatchewan. COGEMA Resources is operator of the Midwest uranium project, and part owner of the Cigar Lake, McArthur River and Key Lake uranium mines. Of the company's approximately 300 employees at the mine sites, about half are from northern communities.

backgrounder

For further information, please contact:

Alun Richards
Public Relations Specialist
COGEMA Resources Inc.
Phone: (306) 343-4637

Robert Pollock
Vice-President, Environment, Health & Safety
COGEMA Resources Inc.
Phone: (306) 343-4548