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TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
Blue Sky Uranium Corp. (TSXV: BSK,OTC:BKUCF), (FSE: MAL2), (OTC: BKUCF) "Blue Sky" or the "Company") is pleased to announce that the Company has completed an induced polarization (pole-dipole electrical tomography ("ET")) geophysical survey at the Ivana Gap target, located between the Company's Ivana Deposit and Ivana Central target within the Amarillo Grande Uranium-Vanadium Project, Río Negro Province, Argentina (Figure 1). The properties hosting the Ivana Gap and Ivana Central targets are held by Blue Sky via its 100% owned subsidiary, Minera Cielo Azul S.A. ("MCA").
The single line ET survey has delineated a 1,400-metre wide chargeability anomaly at the Ivana Gap target, approximately 30 to 60 metres below surface, that is interpreted to relate to the northerly extension of the REDOX front trend related to the Ivana Uranium-Vanadium deposit (Figure 2). Its position, midway between the Ivana Deposit and Ivana Central, supports the interpretation of a continuous redox front trend linking these two targets. The results highlight Ivana Gap as a key area for follow-up exploration.
Nikolaos Cacos, Blue Sky President & CEO commented, "Geophysical surveys have proven highly effective at Amarillo Grande, first guiding our discoveries in 2017 and now advancing our work at Ivana Gap. The new ET survey highlights an intriguing anomaly suggesting we could find mineralization extending to the north of the Ivana Deposit in this area. We look forward to testing this prospective target with our next phase of exploration drilling."
The objective of the ET survey was to refine targets for drilling by tracing the subsurface extent of the organic-rich sandstone/REDOX front between the Ivana Deposit and the Ivana Central target. The results of this geophysical survey will help guide part of an upcoming diamond drill program that is now being planned and is scheduled to commence in the fourth quarter of 2025.
The geophysical and drilling programs described herein are being funded by Ivana Minerales S.A. ("IMSA") the joint venture company ("JVCO") established to advance the Ivana Uranium-Vanadium Project. Under the terms of the definitive agreement announced on December 2, 2024 IMSA has the exclusive right and option ("Call Option") to acquire up to a 100% interest in certain exploration targets ("Exploration Targets") at Amarillo Grande. To exercise this right, IMSA must incur certain funding obligations over the six-year term of the Call Option, pay the relevant option price pursuant to the formula set out in the Call Option, and grant to MCA a 2% royalty on all Exploration Targets acquired under the Call Option.
Geophysical Program Detail
The ET survey at Ivana Gap was conducted by Geofisica Argentina S.A. using a pole-dipole array with 15 m electrode spacing. The survey used an Iris ELREC PRO 10-channel receiver (time-domain) and a VIP-5000 transmitter.
The program consisted of a single 5 kilometre line covering the central portion of the prospect, subparallel to the majority of lines from previous surveys at Ivana Central (Section L1) and at the Ivana deposit (Section Ivana VIII) (see Figure 2). The results show a broad chargeability anomaly over 1400m in width that is interpreted as the REDOX front horizon signature. Additionally, smaller chargeability anomalies are observed toward the eastern (right-hand) portion of the pseudo-section. These appear either deeper in the profile or as isolated subsurface highs. The main anomaly lies along the projected northwest trend extending from the Ivana Deposit in the south, northwest towards Ivana Central, where reduced carbonaceous alteration has been confirmed in drillhole cuttings.
Many of the historical ET geophysical lines over the Ivana deposits were either not processed for chargeability or did not detect significant anomalies. However, a clear 600m wide chargeability anomaly was observed on line Ivana VIII that was completed on the northern flank of the Ivana deposit, as shown in Figure 2.
Qualified Persons
The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi, CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101.
About Ivana Minerales S.A.
Ivana Minerales S.A. is the operating company for the joint-venture between Blue Sky and its partner Abatare Spain, S.L.U. to advance the Ivana Uranium-Vanadium deposit in Rio Negro Province of Argentina. The activities of JVCO are subject to the earn-in transaction (the "Agreement") in which COAM will fund cumulative expenditures of US$35 million to acquire a 49.9% indirect equity interest in the Ivana deposit, and then has the further right to earn up to an 80% equity interest in JVCO by completion of a feasibility study and funding the costs and expenditures up to US$160,000,000 to develop and construct the project to commercial production, subject to the terms and conditions in the Agreement. JVCO also has a Call Option to acquire a 100% interest in all or part of certain exploration targets owned by Blue Sky's 100% held subsidiary, subject to certain conditions. For additional details, please refer to the News Release dated February 27, 2025, as well as the Company's latest Financial Statements & MD&A available at blueskyuranium.com.
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 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'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's recently optioned Corcovo project has demonstrated potential to host an in-situ recovery uranium deposit. 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 and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, 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 planned drilling campaigns, its objectives and the potential mineral content of its projects. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; risks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned exploration program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
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