Blue Sky Financing Oversubscribed Company Closes Non-Brokered Private Placement

Terminal City Club Tower, Suite 312 - 837 West Hastings Street TSX Venture Exchange: BSK

Vancouver, BC CANADA V6C 3N6 Frankfurt Stock Exchange: MAL2

Tel: 604-687-1828 • Fax: 604-687-1858 • Toll Free: 1-800-901-0058 OTCQB Venture Market (OTC): BKUCF

www.blueskyuranium.com • [email protected]

NEWS RELEASE – December 20, 2017

Blue Sky Financing Oversubscribed

Company Closes Non-Brokered Private Placement

Vancouver, BC / Marketwired / December 20, 2017 Blue Sky Uranium Corp. (TSX -V: BSK, FSE: MAL2;

OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce completion of the non-brokered private

placement financing of 5,940,064 units (‘Units”) for gross proceeds of $ 1,128,612.16 as announced on

November 16, 2017.

Each unit will consist of one common share and one transferrable common share purchase warrant. Each

warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company

at $0.30 per share for one year from the date of issue, expiring on December 19, 2018. If the volume

weighted average price for the Company's shares is $0.50 or greater for a period of 5 consecutive trading

days, then the Company may deliver a notice (the "Notice") to the warrantholder that the Warra nts must be

exercised within twenty (20) days from the date of delivery of such Notice, otherwise the Warrants will expire

at 4:30 p.m. (Vancouver time) on the twenty-first (21st) day after the date of delivery of the Notice. The

accelerated exercise shall not apply until the expiration of the four-month hold period required under

Exchange policies and rules, and securities laws that are applicable to the Company , being April 19, 2018.

Finder’s fees of $29,635.91 are payable in cash on a portion of the private placement to parties at arm’s length

to the Company. In addition, 155,978 non-transferable finder’s warrants are issuable (the “Finder’s Warrants”).

Each Finder’s Warrant entitling a finder to purchase one common share at a price of $0.30 per share for one

year from the date of issue, expiring on December 19, 2018. The Finder’s Warrants are also subject to the

above accelerated exercise provisions.

The proceeds of the financing will be used for exploration programs on the Company’s projects in Argentina

and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are

subject to a four-month hold period expiring on April 19, 2018.

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: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exc hange) accepts

responsibility for the adequacy or accuracy of this release.