Blue Sky Uranium JV drilling Ivana uranium-vanadium project, Argentina

Ivana Minerales SA, a partnership of Blue Sky Uranium Corp. [TSXV: BSK; OTC: BKUCF; FSE: MAL2] with a subsidiary of Corporacion America Group, has begun the next infill drill program to advance the Ivana uranium-vanadium deposit, Argentina, toward feasibility.

As announced on May 14, 2025, JVCO has doubled its original exploration program budget to US$6.0 million, beyond the minimum annual commitment of US$3 million for the first year stipulated in the joint venture agreement. The new estimate includes US$4.4 million for costs associated with the feasibility program, including the infill drilling, other studies and surveys, and the NI 43-101 technical report preparation.

Nikolaos Cacos, president and CEO, stated: “With COAM’s support, JVCO plans to rapidly advance Ivana with this drill program while continuing other work such as metallurgy and process engineering in order to achieve feasibility and potential production as swiftly as possible.”

The infill drill program is expected to include up to 6,000 metres of reverse circulation drilling in approximately 330 drill holes with an estimated average depth of 18 metres. The program aims to achieve better definition of the known mineralized bodies to support the reclassification of some inferred mineral resources to indicated mineral resources and to improve the geological modelling to allow the design of the Ivana deposit to be adjusted for mining. It will also assess the potential extension of zones where mineralization remains open to expansion, as outlined in the most recent preliminary economic assessment.

Following the infill drilling program, a second-phase drill program of up to 2,500 metres is planned to start immediately to test at least two new high-potential exploration targets near the Ivana deposit. The campaign will employ both reverse circulation and diamond drilling methods 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. The budget for the brownfield exploration program is UIS$1.6 million, including the drilling-related costs, geophysics and permitting.

Blue Sky’s flagship 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.

The company’s recently optioned Corcovo project has potential to host an in situ recovery uranium deposit. The company is a member of the Grosso group, a resource management group that has pioneered exploration in Argentina since 1993.