Blue Sky Uranium Announces Start-Up of New JV Company to Advance the Ivana Uranium-Vanadium Deposit

Blue Sky Uranium Announces Start-Up of New JV Company to Advance the Ivana Uranium-Vanadium Deposit

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

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the "Company") is pleased to announce that it has, with its joint-venture ("JV") partner Abatare Spain, S.L.U. ("COAM"), founded the new operating company Ivana Minerales S.A. ("JVCO") that will advance the Ivana Uranium-Vanadium deposit in Rio Negro Province of Argentina per the previously announced earn-in transaction ("the Agreement") (see News Release dated February 27, 2025 ). The Company also announces that Mr. Luis Leandro Rivera has been appointed as General Manager for JVCO. Mr. Rivera has thirty years of experience in all facets of mining from exploration to mine operations, including most recently serving as Senior Vice President of the Latin American region for AngloGold Ashanti ("AGA"). In that role, he oversaw the senior management responsible for operations, sustainability, finance and other functions at four mines in two countries. Prior to that, he was General Manager of AGA's Cerro Vanguardia mine in Argentina .

Nikolaos Cacos , President & CEO of the Company stated, "We are very pleased to welcome a mining professional of Mr. Rivera's caliber to steer the team in Argentina and help to drive the advancement of Ivana towards potential production. He has hit the ground running and in just a few short weeks has helped to establish an efficient and cost-effective operating structure for JVCO and integrated our experienced teams into the new company. He has also overseen bids for engineering groups and supervised the planning of the next phase of exploration drilling for the project. We look forward to an energetic program in the coming months that will continue to build value at this exciting project."

JVCO is currently vetting engineering groups to support the planned prefeasibility/feasibility study for the Ivana deposit and expects to establish new contracts in the following months. At the same time, the new company is initiating an exploration drilling program to test for new resources. The planned campaign includes up to 6,000 metres of Reverse Circulation ("RC") drilling in approximately 315 shallow holes. The drilling will step out up to two kilometers surrounding the Ivana deposit and will include testing a previously undrilled target area called "Bajo Huenteleo". This target is considered highly prospective for uranium mineralization but until recently was inaccessible due to persistent flooding conditions. The campaign is expected to continue over approximately the next six months.

The programs are fully funding via 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 Operating Details

Mr. Rivera will report to the Board of JVCO, composed by members representing the interest of each party. In order to maximize the use of funds, both partners will provide support work in lieu of hiring dedicated teams. Administrative functions including Purchasing, Finance and Legal will be supported by affiliates of Corporación América, while roles such as Environmental, Properties and Databases will continue to be assumed by the Grosso Group team that Blue Sky has used since its inception. All field personnel including the three geologists and the previous Project Manager will join JVCO, maintaining technical continuity.

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 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 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. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. 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 campaign at the Ivana deposit and the timing thereof and the prospective nature of the "Bajo Huenteleo" target area. 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; ri sks 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 drilling 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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/blue-sky-uranium-announces-start-up-of-new-jv-company-to-advance-the-ivana-uranium-vanadium-deposit-302411645.html

SOURCE Blue Sky Uranium Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2025/26/c3082.html

News Provided by Canada Newswire via QuoteMedia

BSK:CA
Blue Sky Uranium

Blue Sky Uranium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Blue Sky Uranium (TSXV:BSK)

Blue Sky Uranium

Keep reading...Show less

Argentina’s emerging uranium resource developer

Blue Sky Uranium Closes 3rd and Final Tranche of Non-Brokered Private Placement

Blue Sky Uranium Closes 3rd and Final Tranche of Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

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

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Blue Sky Expands the Principal Target at the Corcovo Uranium Project, Argentina

Blue Sky Expands the Principal Target at the Corcovo Uranium Project, Argentina

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

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Blue Sky Uranium Extends Non-Brokered Private Placement

Blue Sky Uranium Extends Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Blue Sky Uranium Acquires Key Subsurface Data for Corcovo Uranium Project, Mendoza Province, Argentina

Blue Sky Uranium Acquires Key Subsurface Data for Corcovo Uranium Project, Mendoza Province, Argentina

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

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) ("Blue Sky" or the "Company") is pleased to announce that it has obtained an additional substantial historic subsurface dataset for its Corcovo Uranium Project an "in situ" recovery (" ISR ") high potential target, located in the Western Malargüe Mining District, Mendoza Province Argentina . This dataset was originally generated by operators in the oil & gas (" O&G ") with concession holdings in the area. The new data package includes complete information from 449 historical O&G wells ranging from more than 500 metres up to 750 metres in depth within the Corcovo concession area, featuring geophysical logging data such as gamma-ray, spontaneous potential (SP), and other parameters, compiled in the O&G industry standard format for well log data (Log ASCII Standard or " LAS " format). In addition, the Company received 34 2D seismic lines, covering the entire Corcovo project area ( Figure 1 ).

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Blue Sky Uranium Closes 2nd Tranche of Non-Brokered Private Placement

Blue Sky Uranium Closes 2nd Tranche of Non-Brokered Private Placement

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

/NOT FOR DISTRIBUTION TO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Coelacanth Energy Inc. Announces Operations Update, Revised Reserve Report and Initial Resource Report

Coelacanth Energy Inc. Announces Operations Update, Revised Reserve Report and Initial Resource Report

Coelacanth Energy Inc. (TSXV: CEI,OTC:CEIEF) ("Coelacanth" or the "Company") has provided an Operations Update, Reserve Report, and Resource Report.

OPERATIONS UPDATE

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Coelacanth Announces Q2 2025 Financial and Operating Results

Coelacanth Announces Q2 2025 Financial and Operating Results

Coelacanth Energy Inc. (TSXV: CEI,OTC:CEIEF) ("Coelacanth" or the "Company") is pleased to announce its financial and operating results for the three and six months ended June 30, 2025. All dollar figures are Canadian dollars unless otherwise noted.

FINANCIAL RESULTS
Three Months Ended

Six Months Ended

June 30

June 30
($000s, except per share amounts)
2025

2024

% Change
2025

2024

% Change











Oil and natural gas sales
4,828

3,164

53

7,494

6,830

10











Cash flow from (used in) operating activities
(1,826 )
(480 )
280

(845 )
2,776

(130 )
Per share - basic and diluted (1)
(-)

(-)

-

(-)

0.01

(100 )











Adjusted funds flow (used) (1)
(600 )
262

(329 )
(2,040 )
1,340

(252 )
Per share - basic and diluted
(-)

-

(-)

(-)

-

(-)











Net loss
(3,464 )
(2,329 )
49

(7,081 )
(3,530 )
101
Per share - basic and diluted
(0.01 )
(-)

100

(0.01 )
(0.01 )
-











Capital expenditures (1)
14,273

2,522

466

39,974

3,785

956











Adjusted working capital (deficiency) (1)






(41,901 )
64,386

(165 )











Common shares outstanding (000s)










Weighted average - basic and diluted
532,274

529,400

1

531,862

529,298

-











End of period - basic






532,866

530,126

1
End of period - fully diluted






591,544

617,804

(4 )

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Alvopetro Announces Production Results from Murucututu 183-D4 Well and an Operational Update

Alvopetro Announces Production Results from Murucututu 183-D4 Well and an Operational Update

Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces initial production results from our recently completed 183-D4 Murucututu well (100% working interest) and an operational update.

President & CEO, Corey C. Ruttan commented:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Stallion Uranium Completes First Tranche of Non-Brokered Private Placement and Announces Upsizing

Stallion Uranium Completes First Tranche of Non-Brokered Private Placement and Announces Upsizing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Stallion Uranium Corp. (the " Company " or " Stallion ") ( TSX-V: STUD ; OTCQB: STLNF ; FSE: FE0 ) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement of units and flow-through units (the " Offering "). This closing consisted of 21,239,800 units of the Company (each a " NFT Unit ") at a price of $0.20 per NFT Unit for aggregate gross proceeds of $4,247,960 and 1,315,000 flow-through units (each a " FT Unit ") at a price of $0.20 per FT Unit for aggregate gross proceeds of $263,000.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Purepoint Uranium Sets Final Size of Private Placement at $6 Million

Purepoint Uranium Sets Final Size of Private Placement at $6 Million

Purepoint Uranium Group Inc. (TSXV: PTU,OTC:PTUUF) (OTCQB: PTUUF) ("Purepoint" or the "Company") announces that it has set the final size of its previously announced non-brokered flow-through private placement (the "Offering") at $6,000,000. The book is now fully subscribed, and no further subscriptions will be accepted.

The Offering will now be comprised of a combination of the following:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Blue Sky Uranium

Blue Sky Uranium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×