The behavior of uraninite under hydrothermal, reducing conditions is discussed on the basis of data in the literature and the authors' investigation of samples from two natural analogue sites: Oklo, Gabon and Cigar Lake, Canada. Uraninite under reducing conditions, in the presence of saline hydrothermal solutions may be altered through dissolution, preferential loss of lead and/or Y + HREE, and coffinitization. Textural features indicative of dissolution of uraninite include embayed grain boundaries, corroded relicts of uraninite embedded in a clay matrix, and replacement of uraninite by clays and sulfides. The alteration textures and phase chemistries at Oklo and Cigar Lake are remarkably similar. Dissolution of uraninite at Cigar Lake and Oklo was associated with the precipitation of illite and was probably caused by saline, moderately acidic solutions at approximately 200-degrees-C. Increased oxygen fugacity may have occurred locally due to release of excess oxygen from Uraninite during dissolution or by alpha-radiolysis of the solution. The formation of Pb-rich (up to 18 wt% Pb, uraninite-I) and Pb-depleted (approximately 7-8 wt% Pb, uraninite-II) uraninites at both Oklo and Cigar Lake resulted from the loss of Pb due to predominantly episodic volume diffusion related to regional geologic events. Lead loss was not associated with U mobilization. In addition to uraninite dissolution, coffinitization resulted in U, Pb, and REE release.