Blue Sky Uranium Updates Activities at 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 – August 1st, 2018
Blue Sky Uranium Updates Activities at Amarillo Grande Project, Argentina
Vancouver, BC / Globe Newswire / August 1, 2018 / Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC:
BKUCF), "Blue Sky" or the "Company") is pleased to provide an update on activities at its wholly-owned Amarillo
Grande Uranium -Vanadium project in Rio Negro, Argentina. The Company is currently engaged in completing
metallurgical testing to support the Preliminary Economic Assessment ( PEA) study it plans to complete by year-
end, as well as conduc ting exploration work to identify and delineate additional resources. Recent and upcoming
work programs include:
PEA for the Ivana deposit
o Preliminary mineralogical testing completed by the Saskatchewan Research Council (“SRC”)
laboratory
o Metallurgical and process test work underway at SRC
Exploration to expand resources/identify new mineralization
o Ongoing auger drilling program in the Ivana area to delineate anomalous radiometric areas for
follow-up with reverse circulation (RC) drilling 1000+ metre step-out (RC) drill program planned in
the Ivana deposit area
“The recent announcement from Cameco to suspend production at the McArthur River mine reflects the current
supply-demand imbalance conditions for uranium, but we believe it will achieve its goal of supporting the return to
a sustainable uranium market, ” commented Nikolaos Cacos, Blue Sky President & CEO. “We continue with our
strategy t o advance o ur exploration and PEA program work at Amarillo Grande so that we are positioned to
capitalize on that return for our shareholders.”
Program Details
PEA for the Ivana Deposit
Under the guidance of the Company’s Technical Advisor, Chuck Edwards, a new representative composite sample
of uranium -vanadium mineralize d material from the Ivana deposit has been made and submitted to The
Saskatchewan Research Council (SRC) for mineralogical, metallurgical and process engineering work. SRC is one
of Canada’s leading providers of applied research, development and demonstra tion (RD&D) and technology
commercialization, including specific expertise in uranium. With over 71 years of RD&D experience, SRC provides
products and services to its 1,500 clients in 20 countries around the world. SRC is an ISO 9001:2015 certified
company.
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. 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. Results from the program will be used to
design the flowsheet which will be incorporated into the PEA.
Exploration Programs
Coincident with the PEA work, Blue Sky continues to explore proximal to the Ivana deposit in order to expand
resources, under the direction of Guillermo Pensado, Vice President, Exploration & Development for Blue Sky. To
date, the Company has completed 425.5 metres of shallow auger drilling in 110 holes to test for extensions to the
News Release August 1, 2018
Blue Sky Uranium Corp. Page 2
Ivana deposit ; ongoing auger drilling will continue to test for deposit extensions as well as for new areas of
mineralization on the greater Ivana property group. Radiometric probe results from the current program are being
processed and will be reported in the near future. In addition, the Company is planning a 1,000+metre step-out drill
program around the Ivana deposit, which is expected to commence in mid-August, to follow-up on the auger drilling
program.
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 Sk y. The Project includes several major target areas over a 145-kilometre
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 delineating resources at multiple areas for which a central processing facility could be
evaluated. 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% V2O5, containing 19.1
million pounds of U 3O8 and 10.2 million pounds of V 2O5, at a 100 ppm uranium cut -off (Thorson et al., April 18 th
2018 filed on SEDAR).
Mineralization at Amarillo Grande has characteristics of sandstone -type and surficial -type uranium -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 uraniu m 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. 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]
News Release August 1, 2018
Blue Sky Uranium Corp. Page 3
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.