Blue Sky Uranium Corp. announce that the Company is launching a comprehensive field exploration program at the Cateo Cuatro sector to refine drilling targets, and has advanced the Ivana East target to the drill-testing stage. The Ivana East target is 10km east of the Ivana deposit while Cateo Cuatro is located 32km to the southwest.

These important targets have been prioritized by the Company as part of its strategy aimed at defining additional uranium deposits within the 145km long and wholly owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina ("AGP"). As reported on November 2, 2020, these target areas were identified through Blue Sky's ongoing detailed review and reinterpretation of over 15 years of geological data and classification of compelling targets with high potential for uranium-vanadium mineralization like the Company's cornerstone Ivana deposit. The Cateo Cuatro target area was initially prospected in 2013, with preliminary mapping, auger drilling, and water sampling completed at that time.

The recently launched comprehensive exploration program at Cateo Cuatro will include geological mapping, auger drilling, radiometric surveying, seismic and/or IP tomography surveys and reverse circulation ("RC") drilling. The Ivana East target was also initially identified in 2012 through an airborne radiometric survey. At that time limited, surface radiometric surveying and auger drilling were carried out and seismic and IP-tomography surveys were completed in 2021; Ivana East is ready for initial RC drill testing.

Drilling at both targets will be carried out after the Cateo Cuatro field work is complete. Detailed Target descriptionsIvana East: The Ivana East target is located 10km northeast of the Ivana deposit, in the southern portion of the Amarillo Grande project. The area was initially identified in 2012 by airborne radiometric surveys which detected NW-SE elongated anomalies that were followed up by limited hand-held ground radiometric surveys and auger drilling.

The follow-up hand- held radiometric survey confirmed surface anomalies and led to the drilling of 13 shallow auger holes to a maximum of 4.35m depth with no down-hole radiometric anomalies detected. A geological review in 2019 and 2020 established that the area exhibits geological similarities to the Ivana deposit setting with the interpretation that sediments of the uranium host Chichinales Formation unconformably overly intrusive and metamorphic basement rocks at relatively shallow depth. Two different geophysical surveys were conducted over the target for the indirect confirmation of this geological relationship, which is interpreted to have potential for hosting blind basal channel uranium mineralization, similar to the Ivana deposit.

Radiometric anomalies on surface ranging up to 1,831 counts per second (cps) are interpreted as remobilized uranium precipitated by evaporation at surface; the uranium source potentially being related to leaching from blind uranium mineralization at depth close to the unconformity contact between the basal conglomerate member of the Chichinales formation and the underlying basement rock. This is analogous to the geological relationship present at the Ivana deposit where the component main uranium mineralization was defined, 10 km to the west of Ivana East. Two 4km induced polarization (IP) pole-dipole tomography survey lines were run over the central portion of the Ivana East target where radiometric anomalies had been detected on surface.