Exhibit 5.3
CONSENT OF EXPERT
Reference is made to the Registration Statement on Form F-10 (the “Form F-10”) of Cameco Corporation (the “Corporation”) filed with the United States Securities and Exchange Commission (the “Commission”) pursuant to the United States Securities Act of 1933, as amended, and any amendments thereto.
I hereby consent to reference to my name and my involvement in the preparation of, or supervision of the preparation of, scientific and technical information in the following instances:
| 1. | under the headings “Operations, projects and investments – Uranium – Tier-one operations – McArthur River mine/Key Lake mill”, “Operations, projects and investments – Uranium – Tier-one operations – Cigar Lake”, “Operations, projects and investments – Uranium – Tier-one operations – Inkai”, “Mineral reserves and resources” and “Governance – Interest of experts” in the Corporation’s Annual Information Form for the year ended December 31, 2025 dated March 19, 2026 for the McArthur River mine/Key Lake mill, Cigar Lake and Inkai operations; |
| 2. | under the headings “Operations, projects and investments – Uranium – Tier-one operations – McArthur River mine/Key Lake mill”, “Operations, projects and investments – Uranium – Tier-one operations – Cigar Lake”, “Operations, projects and investments – Uranium – Tier-one operations – Inkai” and “Mineral reserves and resources” in Management’s Discussion and Analysis for the year ended December 31, 2025 dated February 13, 2026 for the McArthur River mine/Key Lake mill, Cigar Lake and Inkai operations; and |
| 3. | under the heading “The Company – McArthur River/Key Lake” in the Corporation’s prospectus dated November 5, 2026 for the McArthur River mine/Key Lake mill operations, |
(collectively, the “Technical Information”) in the Form F-10, and to the inclusion and incorporation by reference of information derived from the Technical Information into the Form F-10 and any amendments or supplements thereto filed by the Corporation with the Commission.
| Sincerely, | ||
| /s/ Biman Bharadwaj | ||
| Name: Biman Bharadwaj, P. Eng. | ||
| Title: Principal Metallurgist, Technical Services, Cameco Corporation | ||
Date: November 5, 2026