September 11, 2018

Blue Sky Uranium Completes Targeted RC Drilling Program at Ivana Deposit, Amarillo Grande Project, Argentina

Vancouver, BC / Globe Newswire / September 11, 2018 / Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), „Blue Sky“ or the „Company“) is pleased to announce that it has carried out a 61-hole 1,029 metre reverse circulation (RC) drilling program at the Ivana Uranium-Vanadium deposit on its wholly-owned Amarillo Grande Uranium-Vanadium project in Rio Negro, Argentina.  The drilling program covered targeted areas, adjacent to the current mineral resource, which were identified by auger drilling and radiometric probe to have strong potential for delineation of deposit extensions.  Results will be released once received and interpreted.

In addition, a team of highly experienced professionals is being assembled to carry out all aspects of a Preliminary Economic Assessment (PEA) on the Ivana deposit.   Detailed metallurgical test work on a 40 kg representative composite sample is proceeding at the Saskatchewan Research Council (SRC) laboratory in Saskatoon, Saskatchewan.

About the Amarillo Grande Project

The Company’s 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina is a new uranium district controlled by Blue Sky. The Project includes several major target areas over a 145-kilometre trend, with uranium and vanadium mineralization in loosely consolidated sandstones and conglomerates, at or near surface. The area is flat-lying, semi-arid and accessible year-round, with nearby rail, power and port access. The Company’s strategy includes delineating resources at multiple areas for which a central processing facility could consolidate production.  The Ivana deposit is the cornerstone of the Project and the first area to have a NI 43-101 Inferred Resource estimate, which includes 23.9 million tonnes averaging 0.036% U308 and 0.019% V2O5, containing 19.1 million pounds of U3O8 and 10.2 million pounds of V2O5, at a 100 ppm uranium cut-off (Thorson et al., April 18th 2018 filed on SEDAR).

Mineralization at Amarillo Grande has characteristics of sandstone-type and surficial-type uranium-vanadium deposits.   The sandstone-type mineralization is related to a braided fluvial system and indicates the potential for a district-size system. In the surficial-type deposits, carnotite mineralization coats loosely consolidated pebbles, and is amenable to leaching and simple upgrading.

The near-surface mineralization, ability to locally upgrade, amenability to leaching and central processing possibility suggest a potentially low-cost development scenario for a future deposit.

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