The town, famous for its world-renowned dinosaur museum, has put its emergency plan in place because of high water levels on the Red Deer River.
The levels are forecast to be similar to what they were in 2005, when there was significant damage in low lying areas.
Sandbagging and berm construction is underway in some areas and an emergency centre has been set up for anyone who has to leave their home.
The river is expected to crest there on Sunday morning.
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