Blue Sky Uranium Corp. – TSXV: BSK, OTC: BKUCF, FSE: MAL2

Blue Sky Uranium Corp.

Blue Sky Uranium Corp. (Stock Symbols – TSXV: BSK, OTCMKTS: BKUCF, FSE: MAL2) is a junior uranium exploration company focused on continued acquisition and advancement of its project assets.

Blue Sky Uranium Corp. is a company that wants to be more than just another uranium producer. They want to be the best in the industry, and they strive for excellence. To achieve this goal, they have made it their mission to maintain an ethical mind while exploring new opportunities for success. They strive to respect communities and cultures and the environment as a key focus in their work.

The company’s projects are in areas where people do not have electricity or any other power sources besides natural gas and firewood, making them especially vulnerable to environmental contamination. Throughout its exploration, Blue Sky Uranium Corp has taken great care not to disrupt these communities any more than necessary or contaminate the environment surrounding them.

The company holds 100% rights to approximately 450,000 hectares of properties in two provinces in Argentina.

Amarillo Grande Uranium Project

The company flagship is the Amarillo Grande project. This project covers an area of approximately 400,000 hectares in the central Rio Negro province in Argentina.

The Patagonia region of southern Argentina is the home of the project property.

Blue Sky Uranium Amarillo Grande Project Location
Amarillo Grande Project Location. Source: Blue Sky Uranium Corp.

The deposit is a near surface deposit hosted in loosely consolidated gravel and sand.

Blue Sky Uranium Amarillo Grande Project Overview
Project Overview. Source: Blue Sky Uranium Corp.

The preliminary economic assessment (PEA) for the Ivana Property:

• After-tax NPV8%: $135.2 million
• After-tax IRR: 29.3%
• After-tax Payback period: 2.4 years
• Capital Cost: $128.05 million
• LOM Sustaining Capital Cost: $35.46 million
• Average LOM Total Cash Cost net of credits: $16.24/lb U3O8
• Average LOM AISC net of credits: $18.27/lb U3O8

The PEA Key Assumptions & Inputs:

• Uranium price: $50/lb U3O8
• Vanadium Price $15/lb V2O5
• Years of Construction: 2
• Years of Full Production: 13
• Strip Ratio: 1.1:1 (waste/ore)
• Dilution: 3%
• Average Mining rate (waste + mineralized material): 13,000 tonnes per day (“tpd”)
• Processing throughput: 6,400 tpd
• Uranium recovery: 84.6%
• Vanadium recovery: 52.5%
• Average Annual Production (LOM): 1.35 Mlbs/y U3O8
LOM uranium production: 17.5 Mlbs U3O8

Blue Sky Uranium Ivana Uranium - Vanadium Deposit Cost Curve
Ivana Uranium – Vanadium Deposit Cost Curve. Source: Company Website

Notably, the Amarillo Grande Ivana uranium-vanadium deposit is the largest NI 43-101 resource in Argentina.

The project consists of three massive properties, including the Anit Property and Santa Barbara Property and Ivana Property.

The Santa Barbara Discovery occurred in 2006 and was the first time uranium was found in the Rio Negro Basin. The property boasts vanadium and uranium along a eleven kilometer trend.

The Anit Discovery occurred in 2008 when a fifteen kilometer airborne radiometric anomaly was identified. Upon drilling both uranium and vanadium were found.

The Ivana Discovery commenced in 2011 leading to a deposit discovery in 2017, ultimately leading to a preliminary economic assessment and new resource announcement in 2019.

You can learn more about these three properties on their website or corporate presentations.

The company was formerly known as Mulligan Capital Corp. and incorporated in 2005. Its headquartered in Vancouver, BC, Canada.

Contact:

837 West Hastings Street – Suite 312

Vancouver, BC, Canada V6C 3N6 (Canada)

Toll Free: +1-800-901-0058

Email: [email protected]

www.blueskyuranium.com

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