Blue Sky Completes Geophysical Survey at Amarillo Grande Uranium Project & Identifies Anomaly at Ivana Gap Target for Drill Testing

The most recent news release on October 16, 2025, states that Blue Sky Uranium Corp. has completed an Induced Polarization (IP) geophysical survey at the Ivana Gap target within its Amarillo Grande uranium-vanadium project in Argentina. The survey successfully delineated a 1,400-meter-wide chargeability anomaly approximately 30 to 60 meters below surface. This anomaly is interpreted as the northerly extension of the redox front trend, linking the Ivana deposit and Ivana Central, suggesting a continuous mineralized trend. The company views Ivana Gap as a key area for follow-up exploration, and a diamond drill program is planned to test this prospective target in the fourth quarter of 2025. This exploration program is funded by Ivana Minerales S.A. (IMSA), the joint venture company (JVCO), under a call option agreement where Blue Sky's subsidiary (MCA) will receive a 2% royalty on any acquired exploration targets.

This news is a positive step in the systematic exploration and de-risking of Blue Sky Uranium's Amarillo Grande project, specifically at the Ivana Gap target. The completion of the IP survey and the identification of a significant 1,400-meter-wide anomaly provide a concrete target for future drilling, which is a logical and necessary progression in mineral exploration. This follows the September 29, 2025, announcement that the exploration program at Ivana Gap had commenced with the pole-dipole electrical tomography survey, confirming execution of planned activities.

In the broader context of recent news: * Ivana Deposit Advancement: The news comes shortly after the September 29, 2025, announcement of the completion of a significant infill drilling program (4,959 meters, 328 holes) at the main Ivana deposit. This infill drilling is crucial for upgrading mineral resource categories for the Prefeasibility Study (PFS) and improving geological modeling. The initiation of a "Gap Analysis" by several engineering firms (M3, SRK, Hidroar, Lionsgate) for the PFS/DFS further highlights the accelerated development pathway for the Ivana deposit, driven by the Joint Venture (JV) with Corporacion America Group (COAM). * JV Execution: The JV with COAM (Ivana Minerales SA - IMSA) is actively funding and advancing projects, as evidenced by the $6 million USD drilling budget (May 14, 2025), the commencement of drilling in June 2025, and now the completion of the geophysical survey and planned drilling at Ivana Gap. The formal registration of mining rights transfer to IMSA (Sept 25, 2025) indicates smooth legal and operational progress for the JV. * Corcovo Project: In parallel, Blue Sky has been developing the Corcovo project, announcing initial discovery potential based on historical data (June 4, 2025), acquiring substantial new historical data (July 2, 2025), and expanding the target zone based on this data (Aug 6, 2025). This shows a diversification of exploration efforts, with Corcovo exhibiting potential for In Situ Recovery (ISR) style mineralization.

The identification of a new drill target at Ivana Gap, supported by geophysics and funded by the JV, is a positive development that could expand the overall resource base. However, it is an exploration result, not a resource estimate or drill intercept, so its impact is not yet fully quantified. It is a logical and expected outcome of the exploration phase, aligning with previous statements about testing new targets surrounding Ivana. The stock price has remained relatively stable at $0.07 CAD, consistent with the routine nature of this type of exploration update, rather than a significant game-changing discovery.

Blue Sky Uranium Corp. (BSK) is a natural resource company engaged in the acquisition and exploration of uranium and vanadium properties in Argentina. Its flagship asset is the Amarillo Grande uranium-vanadium project in Rio Negro province, Argentina. The project's main deposit is Ivana, with additional exploration targets like Ivana Central and Ivana Gap. The company also holds a 100% interest in other properties in Argentina, including Corcovo (Mendoza province), Chihuidos (Neuquen province), and Regalo (Chubut province). The Corcovo project is being explored for potential In Situ Recovery (ISR) style uranium mineralization, diversifying the company's approach.

The Ivana project is advancing towards pre-feasibility, supported by a joint venture with Ivana Minerales SA (IMSA), a company formed with Abatare Spain SLU (COAM), a subsidiary of the Corporacion America Group.