Blue Sky Uranium Commences Field Programs to Test New Discovery Potential at Amarillo Grande Argentina

Blue Sky Uranium Corp. (BSK) announced the commencement of a six-month exploration program at its Amarillo Grande Uranium-Vanadium Project in Argentina. The initiative focuses on greenfield exploration, radon surveys, and initial drilling to test new discovery potential. Funding for the program is committed by joint venture partner Abatare Spain, S.L.U. (COAM) through the JV company IMSA under a Call Option Agreement framework.

Key activities include: * Western Greenfield Exploration at Bajo de Valcheta, involving mapping, radiometric surveys, and geochemical sampling. * A pilot radon survey at the Ivana Deposit to assess method response against known mineralization. * Ivana Corridor exploration, including radon and lead-isotope surveys, subject to pilot results. * Approximately 500 meters of RC drilling at the Cuatro target, pending permitting and access.

The Call Option Agreement grants IMSA an exclusive option to acquire 100% interest in certain exploration targets, subject to minimum annual expenditures, an exercise price payment, and a 2% royalty to Minera Cielo Azul S.A. (MCA).

Blue Sky Uranium Corp. (BSK) released details of a program that directly executes the 24-month, US$13.5 million Gap Analysis roadmap announced in November 2025. This initiative outlines a clear path from a Pre-Feasibility Study (PFS) to a Definitive Feasibility Study (DFS). The program is fully funded by COAM, meaning no immediate equity dilution or cash burn is required from Blue Sky for these specific activities.

Historical context shows mixed technical progression for the project. In January 2026, infill drilling confirmed high-grade continuity at Ivana. However, August 2026 results at Ivana Gateway and Ivana East were largely below reporting thresholds or failed to validate geological models.

The October 2026 announcement represents an expected, incremental step in the broader technical advancement toward a PFS. It does not introduce new economic data, resource estimates, or changes to the funding structure.

Blue Sky Uranium Corp. (BSK) is a pre-revenue junior explorer focused on the Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina. Its flagship asset is the Ivana Deposit, which has undergone extensive drilling comprising 1,166 holes and 15,828m of reverse circulation (RC) work, alongside metallurgical testing.

The project is currently in the exploration and development stage. A Preliminary Economic Assessment (PEA) was completed, outlining an 11-year mine life, US$159.7M capital cost, a life-of-mine all-in sustaining cost of $24.95/lb U3O8, an NPV8% of US$227.7M, and an IRR of 38.9% at $75/lb U3O8. The company is advancing toward a Preliminary Feasibility Study (PFS) and Definitive Feasibility Study (DFS), with a clear technical roadmap established by M3 Engineering & Technology.