Blue Sky Uranium Step-Out Drilling Program Confirms Expansion at Ivana Deposit, Amarillo Grande 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 – October 9, 2018
Blue Sky Uranium Step-Out Drilling Program Confirms Expansion at Ivana Deposit,
Amarillo Grande Project, Argentina
Vancouver, BC / Globe Newswire / October 9, 2018 / Blue Sky Uranium Corp. (TSX -V: BSK, F SE: MAL2;
OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce that results from the recently completed
reverse circulation (RC) drilling program have confirmed the southern expansion of the Ivana Uranium-Vanadium
deposit on its wholly-owned Amarillo Grande Uranium-Vanadium project in Rio Negro, Argentina.
Analytical results have been received to date from all 61 holes drilled (totaling 1,043 metres) in the recently
completed RC drilling program. They demonstrate that the Ivana Uranium -Vanadium deposit extends more than
1,000 metres to the south of the current mineral resource (Thorson et al., April 18th 2018 filed on SEDAR). Highlight
analytical results are compiled in Table 1 below. Table 2 ( here) contains all significant intervals (>1m averaging
>30ppm U3O8) as well as drill hole location information. A map of drill holes is shown in Figure 1 (here).
"We are pleased that drilling in the Ivana uranium-vanadium deposit area has demonstrated it is open to expansion
outside of the current mineral resource” stated Nikolaos Cacos, Blue Sky President & CEO. “Blue Sky continues
to advance high-priority targets in the Ivana area while progressing the processing design and metallurgical test
work to support a PEA.”
The Company continues to advance with its ongoing mineralogical, metallurgical, and process engineering studies
at the Saskatchewan Research Cou ncil (SRC) under the guidance of the Company’s Technical Advisor, Chuck
Edwards P.Eng. The objectives of the work at SRC include confirming the balance of uranium and vanadium in the
ore preparation, and optimizing the leach extraction rate and recovery , in support of a Preliminary Economic
Assessment (PEA). The work will include QEMSCAN® quantitative mineralogy testing and customized leach
experiments. Preliminary QEMSCAN® mineralogy was conducted in June and has aided in the design of the current
metallurgical and process testing.
Table 1. Amarillo Grande Highlight Drill Hole Intervals
Hole # From (m) To (m) Interval (m)* U3O8 (ppm) V2O5 (ppm)
AGI-0433 12 14 2 224 165
AGI-0434 10 13 3 131 103
including 10 11 1 258 143
AGI-0437 17 18 1 172 100
AGI-0444 18 21 3 103 60
AGI-0455 18 19 1 107 43
AGI-0459 18 21 3 104 123
including 19 20 1 183 137
AGI-0460 21 23 2 116 86
AGI-0464 14 15 1 380 98
*All holes were vertical and the intervals are believed to represent true thickness.
News Release October 9, 2018
Blue Sky Uranium Corp. Page 2
Methodology and QA/QC
The drilling program is being carried out using an FlexiROC D65 drill rig from Atlas Copco, an ore -control track-
mounted rig adapted to reverse circulation with triple cyclone to reduce the dust loss during sampling and automatic
sampling. Samples are being sent to Bureau Veritas Minerals of Mendoza, Argentina for preparation by drying,
crushing to 80% passing 10 mesh and then pulverizing a 250g split to 95% passing 150 mesh. Pulps are being sent
to Bureau Veritas Commodities Canada Ltd. for analysis of 45 elements by means of Inductively Coupled Plasma
Mass Spectrometry (ICP -MS) following a four -acid digestion (MA -200). Samples over 4,000ppm uranium are re -
assayed after phosphoric acid leach by Inductively Coupled Plasma Electron Spectrometr y (ICP -ES).
Approximately every 10th sample a blank, duplicate, or standard sample is inserted into the sample sequence for
quality assurance/quality control (QA/QC) purposes. No significant QA/QC issues were detected by the Company
during review of the data.
About the Amarillo Grande Project
The Company's 100% owned Amarillo Grande Uranium -Vanadium Project in Rio Negro Province, Argentina is a
new uranium district controlled by Blue Sky. The Project includes several major target areas over a regional trend,
with uranium and vanadium mineralization in loosely consolidated sandstones and conglomerates, at or near
surface. The area is flat -lying, semi-arid and accessible year -round, with nearby rail, power and port access. The
Company’s strategy includes del ineating resources at multiple areas for which a central processing facility could
consolidate production. The Ivana deposit is the cornerstone of the Project and the first area to have a NI 43 -101
Inferred Resource estimate, which includes 23.9 million tonnes averaging 0.036% U 308 and 0.019% V 2O5,
containing 19.1 million pounds of U3O8 and 10.2 million pounds of V2O5, at a 100 ppm uranium cut-off.
Mineralization at Amarillo Grande has characteristics of sandstone -type and surficial -type u ranium-vanadium
deposits. The sandstone-type mineralization is related to a braided fluvial system and indicates the potential for a
district-size system. In the surficial-type deposits, carnotite mineralization coats loosely consolidated pebbles , and
is amenable to leaching and simple upgrading.
The near-surface mineralization, ability to locally upgrade, amenability to leaching and central processing possibility
suggest a potentially low-cost development scenario for a future deposit.
For additional details on the project and properties, please see the Company’s website: www.blueskyuranium.com.
Qualified Person
The results of the Company's drilling program have been reviewed, verified (including sampling, analytical and test
data) and compiled by the Company's geological staff under the supervision of David Terry, Ph.D., P.Geo. Dr. Terry
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 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 rap idly 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
News Release October 9, 2018
Blue Sky Uranium Corp. Page 3
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.
This news release may contain forward -looking statements including but not limited to comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Fo rward-looking statements address future
events and conditions and therefore involve inherent risks and uncertainties. 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 Company undertakes no obligation to publicly update or revise any forward-looking statements. 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.