Blue Sky Uranium Files NI 43-101 Technical Report for the First Mineral Resource Estimate at Amarillo Grande Uranium-Vanadium Project, Argentina
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 – April 18, 2018
Blue Sky Uranium Files NI 43-101 Technical Report for the First Mineral
Resource Estimate at Amarillo Grande Uranium-Vanadium Project,
Argentina
Vancouver, BC / Globe Newswire / April 18, 2018 / Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC:
BKUCF), "Blue Sky" or the "Company") is pleased to announce that the Company has filed the NI 43 -101
Technical Report (the “Report”) supporting disclosure of the initial independent mineral resource estimate for t he
Ivana Deposit at the Company’s 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province,
Argentina, as reported on March 5th, 2018.
Highlights
Inferred mineral resource estimate of 23.9 million tonnes averaging 0.036% U308 and 0.019% V2O5,
containing 19.1 million pounds of U3O8 and 10.2 million pounds of V2O5, at a 100 ppm uranium cut-off.
The Ivana uranium -vanadium deposit exhibits characteristics of both Surficial and Sandstone -hosted
uranium-vanadium deposits and includes an upper zone, comprised mainly of oxidized mineralization, and
a lower zone, containing predominantly primary-style mineralization.
Mineralization is hosted by loosely consolidated sediments from surface to 24 metres depth ; potentially
amenable to physical beneficiat ion by simple scrubbing and wet scr eening as previously demonstrated
elsewhere on the Project (see Blue Sky news release dated February 7th, 2011).
Preliminary alkaline leaching results of the surficial oxidized mineralization returned recoveries of over 95%
for uranium and 60% for vanadium in 3 hours.
Beneficiation test work for both mineralization types in progress , and leach test work for primary
mineralization is in progress.
The Ivana deposit remains open for “brownfield” expansion for surficial uranium - vanadium mineralization
and sandstone-type uranium primary mineralization.
Interpretation of the geological model suggests that the Ivana deposit is the southernmost expression of a
regional mineralization front that continues along the Amarillo Grande Project trend.
Additional uranium and/or vanadium targets exist throughout the 140-km long trend covered by the 100%
controlled BSK properties.
“This report represents a significant first step towards the delineation of this new uranium and vanadium district in
Argentina,” commented Nikolaos Cacos, Blue Sky President & CEO. “Our initial view of the size of the Ivana deposit
was surpassed with this resource estimate , and with the potential for additional uranium-vanadium deposits
elsewhere on the project, we are confident that we will continue to build value for our shareholders.”
The Report, titled “Initial Mineral Resource Estimate for the Ivana Uranium-Vanadium Deposit, Amarillo Grande
Project” authored by independent qualified persons Dr. Jon Thorson, CPG., Dr. Bruce Davis, F.AusIMM, of BD
Resource Consulting Inc. and Susan Lomas, P.Geo, of Lions Gate Geological Consulting Inc. with an effective date
of February 28th, 2018, is available under the Company’s profile on SEDAR at www.sedar.com and will be posted
to the Company’s website www.blueskyuranium.com .
News Release April 18, 2018
Blue Sky Uranium Corp. Page 2
The Ivana mineral resource estimate is the first f or the Amarillo Grande Project. The deposit is situated within five
properties of less than 7,000 hectares in total , covering the southern portion of the 140-km uranium-vanadium
exploration trend, within which Blue Sky Uranium controls over 280,000 hectares of mineral exploration rights.
Once the results of the on -going metallurgical studies and preliminary beneficiation studies are received , a
Preliminary Economic Assessment (PEA) for the Ivana deposit is planned to be completed during the second half
of 2018.
Qualified Persons
David Terry, Ph.D., P.Geo. is a Director of the Company and a Qualified Person as defined in National Instrument
43-101. The contents of this news release have been reviewed and approved by Dr. Terry.
About the Amarillo Grande Project
This new 140-kilometre-long uranium district was first identified, staked and underwent preliminary exploration by
Blue Sky from 2007 to 2012 as part of the Grosso Group’s strategy of adding alternative energy focus to its
successful portfolio of metals exploration companies. The proximity of several targets suggests that if resources
are delineated at more than one area a central processing facility would be envisioned. The area is flat-lying, semi-
arid and accessible year-round, with nearby rail, power and port access. The near-surface mineralization, ability to
locally upgrade, amenability to leaching and central processing possibility suggest a potentially low -cost
development scenario.
For additional details on the project and properties, please see the Company’s website: www.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 shareholde rs by rapidly advancing a portfolio of surficial uranium deposits into low -cost
producers. Blue Sky has the exclusive right to over 434,000 hectares (equiv. to 1,072,437 acres) of property in two
provinces in Argentina. The Company’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 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: [email protected]
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 contains forward -looking information which is not comprised of historical facts. Forward -looking information involves risks,
uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Blue
Sky’s objectives, goals or future plans, statements regarding the estimation o f mineral resources, exploration results, potential mineralization,
exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could
cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral
resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays
in obtaining or failure to obtain required governmental, environmental or other project approvals, political risks, uncertainties rel ating to the
availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks
News Release April 18, 2018
Blue Sky Uranium Corp. Page 3
set out in Blue Sky’s public documents filed on SEDAR. Although Blue Sky believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies
as of the date of this news release, and no assurance can b e given that such events will occur in the disclosed time frames or at all. Blue Sky
disclaims any intention or obligation to update or revise any forward -looking information, whether as a result of new information, future events
or otherwise, other than as required by law. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in
documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits
on our properties.