Blue Sky Uranium Step-Out Drilling Program Confirms Expansion at Ivana Deposit, Amarillo Grande Project, Argentina

Vancouver, BC / Globe Newswire / October 9, 2018 / Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), „Blue Sky“ or the „Company“) is pleased to announce that results from the recently completed reverse circulation (RC) drilling program have confirmed the southern expansion of the Ivana Uranium-Vanadium deposit on its wholly-owned Amarillo Grande Uranium-Vanadium project in Rio Negro, Argentina.

Analytical results have been received to date from all 61 holes drilled (totaling 1,043 metres) in the recently completed RC drilling program.They demonstrate that the Ivana Uranium-Vanadium deposit extends more than 1,000 metres to the south of the current mineral resource (Thorson et al., April 18th 2018 filed on SEDAR).Highlight analytical results are compiled in Table 1 below.Table 2 (here) contains all significant intervals (>1m averaging >30ppm U3O8) as well as drill hole location information. A map of drill holes is shown in Figure 1 (here).

„We are pleased that drilling in the Ivana uranium-vanadium deposit area has demonstrated it is open to expansion outside of the current mineral resource” stated Nikolaos Cacos, Blue Sky President & CEO.“Blue Sky continues to advance high-priority targets in the Ivana area while progressing the processing design and metallurgical test work to support a PEA.”

The Company continues to advance with its ongoing mineralogical, metallurgical, and process engineering studies at the Saskatchewan Research Council (SRC) under the guidance of the Company’s Technical Advisor, Chuck Edwards P.Eng. The objectives of the work at SRC include confirming the balance of uranium and vanadium in the ore preparation, and optimizing the leach extraction rate and recovery, in support of a Preliminary Economic Assessment (PEA). The work will include QEMSCAN® quantitative mineralogy testing and customized leach experiments. Preliminary QEMSCAN® mineralogy was conducted in June and has aided in the design of the current metallurgical and process testing.

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