Mr. Nikolaos Cacos reports

BLUE SKY URANIUM INCREASES AND CLOSES 2ND AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Blue Sky Uranium Corp. has closed the oversubscribed second and final tranche of the non-brokered private placement financing announced on June 8, 2023, consisting of 7,861,032 units in this tranche at a price of 7.5 cents per unit for gross proceeds of $589,577.40. In total, the company issued 21,333,333 units for total gross proceeds of $1.6-million.

Each unit consists of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at 12 cents per share for three years from the date of issue, expiring on July 12, 2026, in this second and final tranche.

The units issued under the offering were offered to purchasers pursuant to the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106 -- Prospectus Exemptions in all the provinces of Canada, except Quebec, and in certain other jurisdictions pursuant to applicable securities laws. The LIFE units will not be subject to resale restrictions pursuant to applicable Canadian securities laws. There is an offering document relating to the offering that can be accessed under the company's profile on SEDAR and on the company's website.

In this tranche, finders' fees of $40,062.92 were paid in cash on a portion of the private placement to parties at arm's length to the company. In addition, 534,172 non-transferable finder's warrants were issued. Each finder's warrant entitles a finder to purchase one common share at a price of 7.5 cents per share for three years from the date of issue, expiring on July 12, 2026. In total, cash finder's fees of $84,636.82 were paid and 1,128,490 finder's warrants were issued. The news release dated June 19, 2023, had an incorrect exercise price of 12 cents for the finder's warrants. The correct exercise price is 7.5 cents for the finder's warrants.

The proceeds of the financing will be used for exploration programs on the company's projects in Argentina and for general working capital.

Closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including, but not limited to, the approval of the TSX Venture Exchange.

Further to a news release dated July 10, 2023, announcing the engagement of Investing News Network, the $32,400 for the services will be paid equally during the term of the agreement.

About Blue Sky Uranium Corp.

Blue Sky Uranium is a leader in uranium discovery in Argentina. The company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities and the cultures in all the areas in which it works. Blue Sky has the exclusive right to properties in two provinces in Argentina. The company'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 is a member of the Grosso group, a resource management group that has pioneered exploration in Argentina since 1993.

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