Mr. Mohammad Fazil reports

BLUE SKY ANNOUNCES CLOSING OF ACQUISITION OF HEAVY OIL ASSETS IN ALBERTA

Blue Sky Global Energy Corp., further to the company's news release dated Aug. 6, 2024, has closed the acquisition of a 50-per-cent interest in certain heavy oil assets in Alberta from Blue Sky Resources Inc. (BSR) pursuant to a definitive agreement entered into by the parties dated Aug. 19, 2024.

The acquired assets are located in the Cold Lake area of Alberta and are made up of approximately 192 hectares (Blue Sky Global's 50-per-cent net interest) prospective for the exploration of heavy oil. The acquired assets will continue to be operated by BSR and are being acquired from BSR for a purchase price of $307,849.50 (to be paid in cash), subject to adjustments, as may be required by the parties. No shares will be issued as consideration for the proposed acquisition. The company has the right to take over operatorship of the assets if and when requisite regulatory approvals are obtained.

The company has obtained the necessary approvals to close the acquisition, including receiving final acceptance from the TSX Venture Exchange. No finders' fees were payable by the company in connection with the acquisition.

About Blue Sky Global Energy Corp.

The company is a publicly traded entity listed on the TSX-V under the symbol BGE with assets that comprise primarily approximately 180,000 acres of land, located in the Corozal basin in Belize, which may hold prospective oil and gas resources, and which so far includes one discovery, the SBC field. The SCB field contains four wells, two of which have been tested, the SCB No. 1 and the SCB No. 2 wells. A wholly owned subsidiary of the company has entered into a production-sharing agreement (PSA) with the government of Belize. Pursuant to the PSA, this wholly owned subsidiary of the company holds a 100-per-cent contractor position in the contracting area and has the exclusive right to conduct all petroleum operations within the contracting area. Blue Sky Global also hold a 50-per-cent non-operating interest in 600 barrels of oil equivalent per day (on a net basis) in northeastern British Columbia and, through its wholly owned subsidiary, holds a production-sharing contract on an area covering 8,214 square kilometres that is offshore East Natuna, Indonesia, known as the Paus block.

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