January 15, 2018

Blue Sky Expands High Grade Core of Ivana Target; and, Commences Resource Estimation at Amarillo Grande Uranium-Vanadium Project, Argentina

Vancouver, BC / Marketwired / January 15, 2018 / Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), „Blue Sky“ or the „Company“) is pleased to report that additional analytical results from the Phase II reverse circulation (RC) drilling program have expanded the higher-grade uranium mineralized corridor by a further 1 kilometre at the Ivana target on its 100% owned Amarillo Grande uranium-vanadium project, in Rio Negro Province, Argentina. In addition to the lateral expansion, infill drilling results include areas of significant grade-times-thickness (i.e. 15 holes averaging 13 metres @ 522 ppm U3O8), and individual results as high as > 1% (10,517 ppm) U3O8. The Company has engaged a team of independent qualified people (Bruce Davis Ph.D., F.AusIMM, of BD Resource Consulting Inc., Susan Lomas P.Geo of Lions Gate Geological Consulting Inc., and Jon Thorson, Ph.D., CPG) to complete a maiden resource estimate, and associated NI 43-101 Technical Report, for the Amarillo Grande project.

Highlights of drill intercepts with significant uranium mineralization include:

  • 10,517 ppm U3O8 over 1 m
    • within 2,296 ppm U3O8 over 8 m, within 1,271 ppm U3O8 over 15 m in AGI-0247
  • 8,618 ppm U3O8 over 2 m
    • within 2,867 ppm U3O8 over 8 m in AGI-0194
  • 3,216 ppm U3O8 over 1 m
    • within 1,838 ppm U3O8 over 5 m in AGI-0249
  • 2,480 ppm U3O8 over 1 m
    • within 1,423 ppm U3O8 over 6 m in AGI-0196
  • 1,981 ppm U3O8 over 1 m
    • within 777 ppm U3O8 over 5 m in AGI-0195
  • 1,143 ppm U3O8 over 1 m
    • within 376 ppm U3O8 over 6 m in AGI-0208
  • 1,079 ppm U3O8 over 3 m
    • within 468 ppm U3O8 over 10 m in AGI-0209
  • 1,037 ppm U3O8 over 1 m
    • within 773 ppm U3O8 over 4 m in AGI-0243
  • 1,021 ppm U3O8 over 1 m
    • within 822 ppm U3O8 over 6 m in AGI-0246
  • 1,002 ppm U3O8 over 1 m
    • within 481 ppm U3O8 over 4 m in AGI-0202

All holes were vertical and the intervals are believed to represent true thickness.

These new assays significantly expand our expectations for the uranium-rich system at Ivana, the southernmost target on the 140-kilometre-long Amarillo Grande uranium-vanadium project,“ stated Nikolaos Cacos, Blue Sky President & CEO. „In just this one sector we believe that we will be able to delineate significant resources, and still have tremendous upside potential.“

The Phase II RC program was designed to include up to 3000 metres of step out and infill drilling of the higher-grade zone, with an ultimate goal of completing an initial mineral resource estimate. The positive results received to date have led to an increase in the original program, to now include up to 4,500 metres. The remaining infill program is expected to be completed by the end of January.

Program Details:

The Phase II RC drill results reported in this release are from holes 194 through 251, which total 924 metres. The results from the first 35 holes of the Phase II program were reported on October 30th.  All hole locations are shown on Map 1 here: https://blueskyuranium.com/assets/docs/2018-01-10-amarillo-ivana-pii-rcdp.pdf  and grade thickness contours of all results to date are shown on Map 2 here:  https://blueskyuranium.com/assets/docs/2018-01-10-amarillo-ivana-pii-rcdp-txg.pdf.

The Phase I program defined a two-kilometre corridor of strong surface mineralization at the Ivana target. This was expanded by an additional two kilometres by the first results from Phase II program, as reported on October 30th. The results reported herein further expand this corridor by over one kilometre to the southwest. The mineralized corridor is now between 200 and >400 metres wide and up to 23 metres thick.

Please read the complete press release under the following link: LINK