Blue Sky Uranium Corporate Update

Rhea-AI Summary

Blue Sky Uranium (BKUCF) has provided a corporate update highlighting key achievements from the previous year and outlining plans for 2025. The company reached several major milestones, including a positive new Preliminary Economic Assessment for the Ivana deposit at the Amarillo Grande project and a strategic partnership with Abatare Spain (COAM) through a definitive earn-in agreement.

The company plans to hold a Special Meeting of Shareholders to approve the COAM earn-in agreement, after which the joint venture will proceed with detailed engineering and pre-feasibility study work on the Ivana deposit. Guillermo Pensado will transition from VP of Exploration and Development to Technical Consultant for the joint venture, focusing on advancing the Ivana deposit and related exploration activities.

Blue Sky continues exploration activities at its Corcovo and Chihuidos projects, with permitting for fieldwork in progress and ongoing desktop studies. Additional programs may include regional exploration at Amarillo Grande.

Positive

• Positive new Preliminary Economic Assessment completed for Ivana deposit
• Strategic partnership and earn-in agreement secured with Abatare Spain
• Expansion of project portfolio with two new potential ISR uranium targets

Negative

• Pending shareholder approval required for COAM earn-in agreement
• Fieldwork permits still in progress for Corcovo and Chihuidos projects

TSX Venture Exchange (TSX-V): BSK
Frankfurt Stock Exchange (FSE): MAL2 
OTCQB Venture Market (OTC): BKUCF

VANCOUVER, BC, Jan. 15, 2025 /PRNewswire/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the "Company") is pleased to provide an update on corporate activities and outlook for 2025. Last year was a pivotal one for the Company, with several major milestones reached, including: a positive new Preliminary Economic Assessment ("PEA") for the Ivana deposit at the flagship Amarillo Grande project; a strategic partnership and definitive earn-in agreement with Abatare Spain, S.L.U. ("COAM") to facilitate advancing Ivana through feasibility and potentially commercial production; and, a new initiative to explore for in-situ recovery uranium targets, including two project acquisitions with significant potential for discovery.

In 2025, the Company will continue to build on its momentum, starting with the planned Special Meeting of Shareholders to approve the earn-in agreement with COAM. Once approved, the joint venture will resume the detailed engineering and other work required to complete a pre-feasibility study of the Ivana deposit. In order to provide continuity with previous work and to oversee Blue's Sky's interest, the Company is rearranging internal positions to allow the formation of the future technical committees within the joint venture with COAM. To this effect, Blue Sky reports that Guillermo Pensado has agreed to serve as the Company's Technical Consultant for the joint venture and will relinquish his role as Vice President, Exploration and Development. In this new role, he will focus on the proposed advancement of the Ivana deposit as well as the other exploration activities associated with the COAM agreement.

Nikolaos Cacos, President & CEO of the Company stated, "Since 2016, Guillermo has been a key driver of discovery at Amarillo Grande, and has overseen all aspects of advancing the Ivana deposit. We are pleased to now have him in this very important role, where his expertise and continued enthusiasm for the deposit, the project and exploration in Argentina will help ensure the success of the joint venture."

Mr. Cacos continued, "The endorsements for doing business in Argentina right now are wide-spread, and we are also seeing that reflected in the market. As early and consistent champions of exploring in Argentina, we are pleased to see this support, and look forward to creating strong news flow as we make strides on all of our projects in 2025." 

Blue Sky continues exploration-related activities at its Corcovo and Chihuidos projects. Permitting for fieldwork remains in progress, and desktop studies are on-going in order to identify and hone targets that will be ready for detailed ground work when permits are issued.  Additional programs this year may include regional exploration at Amarillo Grande. 

Qualified Persons

The technical contents of this news release have been reviewed and approved by Dr. David Terry, Ph.D., P. Geo. Dr. Terry is a Director of the Company and a Qualified Person as defined in National Instrument 43-101.

About Blue Sky Uranium Corp.

Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

______________________________________
Nikolaos Cacos, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements.  Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/blue-sky-uranium-corporate-update-302351211.html

SOURCE Blue Sky Uranium Corp.

FAQ

What major milestones did Blue Sky Uranium (BKUCF) achieve in the previous year?

Blue Sky Uranium achieved three major milestones: a positive new Preliminary Economic Assessment for the Ivana deposit, a strategic partnership with Abatare Spain (COAM), and acquisition of two new projects with ISR uranium potential.

What is the status of Blue Sky Uranium's (BKUCF) partnership with COAM?

The partnership requires approval at an upcoming Special Meeting of Shareholders, after which the joint venture will proceed with detailed engineering and pre-feasibility study work on the Ivana deposit.

What exploration activities is Blue Sky Uranium (BKUCF) currently conducting?

The company is conducting desktop studies at Corcovo and Chihuidos projects while awaiting fieldwork permits, with potential additional regional exploration planned at Amarillo Grande.

What management changes has Blue Sky Uranium (BKUCF) announced for 2025?

Guillermo Pensado will transition from VP of Exploration and Development to Technical Consultant for the joint venture, focusing on the Ivana deposit advancement and related exploration activities.