Blue Sky Initiates Hydrogeological Program to Support Future Development of the Ivana Uranium-Vanadium Deposit
Blue Sky Initiates Hydrogeological Program to
Support Future Development of the Ivana
Uranium-Vanadium Deposit
Vancouver, British Columbia--(Newsfile Corp. - March 19, 2026) -
Blue Sky Uranium Corp. (TSXV:
BSK) (FSE: MAL2) (OTCQB: BKUCF), ("Blue Sky" or the "Company")
and Ivana Minerales S.A.
("
IMSA
", the operating company for the joint-venture between Blue Sky and a subsidiary of Corporacion
America Group, "
COAM
") are pleased to announce the initiation of a hydrogeological study in the vicinity
of the Ivana uranium-vanadium deposit within its 100%-owned Amarillo Grande Project in Rio Negro
Province, Argentina. The program is designed to evaluate potential water sources required to support
future mining and processing operations, as well as to characterize groundwater conditions relevant to
potential mine dewatering requirements.
The hydrogeological program will include geophysical surveys, drilling of exploratory water wells,
installation of groundwater monitoring piezometers, short- and long-duration pumping tests, water quality
analysis, and the development of a hydrogeological model for the project area. The results of this work
will support ongoing technical studies related to future development of the Ivana deposit.
The program commenced in early March and is estimated to require approximately five months to
complete. The cost of the hydrogeological study is currently estimated at approximately US$400,000,
excluding additional work such as drilling of water wells and pumping tests, which will be defined as the
program advances.
Nikolaos Cacos, Blue Sky President & CEO commented, "
Advancing hydrogeological studies is an
important step in the technical progression of the Ivana deposit toward future development stages.
Understanding groundwater conditions and identifying reliable water supply options early in the
engineering process helps reduce project risk and supports the advancement of the project toward
Pre-Feasibility and Feasibility level studies."
The hydrogeological study is being carried out by Hidroar S.A., a specialized Argentine hydrogeological
consulting firm with more than 30 years of experience providing groundwater and water resource
services to the mining, oil & gas, institutional and infrastructure sectors.
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 Corcovo project has potential to host an in-situ
recovery ("
ISR
") 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
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email:
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, the opportunity to
potentially add significant incremental pounds of uranium in future resource estimations, expansion of
the core zone may therefore also impact potential economics of the Ivana deposit during a future
prefeasibility assessment, 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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