Blue Sky Launches Drilling Program at Ivana Gateway Target, Amarillo Grande Uranium-Vanadium Project, Argentina

On December 17, 2025, Blue Sky Uranium announced the launch of a 1,200-metre diamond drilling program at the Ivana Gateway target, located approximately 4.7 kilometres northwest of the main Ivana deposit at its Amarillo Grande Project in Argentina. The program, consisting of 19 planned holes, aims to test for a northern extension of the Ivana deposit by targeting a redox front previously identified by a geophysical survey. As of the announcement, drilling had commenced in late October and 11 holes were completed.

The news of a new drill program is a routine operational update and is rated as Routine - Positive. It represents the logical follow-up to the company's October 16, 2025 announcement, which identified a promising anomaly at this same target (then called Ivana Gap).

While initiating drilling demonstrates progress, the impact is minimal for the following reasons: - Expectation: This activity was fully expected after the geophysical results were published. The market is more focused on the development of the main Ivana deposit. - Scale: A 1,200-metre program is minor and exploratory. Its value is entirely dependent on the results, which have not yet been released. - Context: The company's primary value driver is the advancement of the Ivana deposit towards a Feasibility Study, a process now fully funded by its strategic partner, Corporacion America Group (COAM). The November 26, 2025 news outlining the completion of a "Gap Analysis" with a clear US$13.5 million, 24-month roadmap to a Pre-Feasibility and Feasibility Study was far more significant.

This exploration drilling at Ivana Gateway is a secondary activity. Although positive as it shows potential for resource expansion, it does not materially alter the company's financial position or the development timeline of its core asset. The stock is currently trading at its 52-week low, reflecting significant shareholder dilution from recent financings and a massive warrant overhang, which this news is unlikely to overcome. The market's attention remains fixed on COAM's funding progress for the Ivana deposit and Blue Sky's own precarious financial health.

Blue Sky Uranium Corp. is a junior mineral exploration company focused on the acquisition and exploration of uranium and vanadium properties in Argentina. Its flagship asset is the 100%-owned Amarillo Grande Project in Río Negro Province. The project's most advanced target is the Ivana deposit, which hosts a significant uranium-vanadium resource and is the subject of a Preliminary Economic Assessment (PEA). The company is advancing the Ivana deposit towards production through a joint venture.