Blue Sky Uranium Schedules Start of Drill Program for Ivana Uranium-Vanadium Project

Cision Canada

22-05-2025

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC, May 22, 2025 /CNW/ - Blue Sky Uranium Corp. (TSX-V: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the"Company") is pleased to announce that it has secured drill contractors and scheduled a start date of June 1 st, 2025 for the previously announced drill programs to advance the Ivana Uranium-Vanadium Project (the " Project"). As reported on May 14, 2025, Blue Sky's joint-venture operating company Ivana Minerales S.A., (" JVCO", a partnership with Abatare Spain, S.L.U.) has planned a two-phase drilling campaign. The first phase will focus on infill drilling at the Ivana deposit, while the subsequent second phase will test satellite targets. The entire campaign is expected to last approximately five months.
Nikolaos Cacos, President & CEO of the Company stated, "Our JVCO team has procured agreements with very capable operators that will enable us to advance Ivana quickly and efficiently. We look forward to seeing the drills turning again as we move our pre-feasibility work forward."
The infill drilling campaign has been awarded to Patagonia Drilling, which will mobilize two reverse circulation (" RC") drill rigs in stages to complete the program. This program aims to achieve better definition of the known mineralized bodies and assess the potential extension of zones where mineralization remains open, particularly in the areas of greatest interest as outlined in the most recent Preliminary Economic Assessment. Patagonia Drilling is a well-established company with extensive experience in mineral exploration across Argentina and successfully conducted the most recent drilling campaign at the Project.
The second campaign, scheduled to begin immediately after the first, has been awarded to AGV Falcon Drilling. This phase will employ both RC and diamond drilling methods. AGV Falcon Drilling is a reputable company with a strong presence in Argentina and significant experience in supporting domestic mineral exploration. The objective of this campaign is to further delineate mineralization previously identified in satellite areas surrounding the Ivana Project, many of which have returned encouraging results from earlier drilling and require more detailed definition.
Qualified Persons
The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi, CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101.
About Ivana Minerales S.A.
Ivana Minerales S.A. is the operating company for the joint-venture between Blue Sky and its partner Abatare Spain, S.L.U. (" COAM") to advance the Ivana Uranium-Vanadium deposit in Rio Negro Province of Argentina. The activities of JVCO are subject to the earn-in transaction (the " Agreement") in which COAM will fund cumulative expenditures of US$35 million to acquire a 49.9% indirect equity interest in the Ivana deposit, and then has the further right to earn up to an 80% equity interest in JVCO by completion of a feasibility study and funding the costs and expenditures up to US$160,000,000 to develop and construct the project to commercial production, subject to the terms and conditions in the Agreement. For additional details, please refer to the News Release dated February 27, 2025, as well as the Company's latest Financial Statements and MD&A available at 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 shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's 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. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. 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"
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Nikolaos Cacos, President, CEO and Director
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 may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaign at the Ivana deposit. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned drilling program described in this news release. 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 forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.