Mr. Nikolaos Cacos reports

BLUE SKY URANIUM ANNOUNCES CLOSING OF $3.5 MILLION BROKERED LIFE PRIVATE PLACEMENT

Blue Sky Uranium Corp. has closed its previously announced best efforts private placement for gross proceeds of $3.5-million, which includes the exercise in full of the agent's option. Pursuant to the offering, the company sold 70 million units of the company at a price of five cents per unit. Red Cloud Securities Inc. acted as sole agent and bookrunner in connection with the offering.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of seven cents at any time on or before Nov. 19, 2030.

The company intends to use the net proceeds of the offering for the exploration and advancement of the company's flagship Amarillo Grande uranium-vanadium project located in the province of Rio Negro in Argentina, as well as for general working capital and corporate purposes.

In accordance with National Instrument 45-106 -- Prospectus Exemptions, the units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption and in certain other jurisdictions outside of Canada pursuant to relevant prospectus or registration exemptions in accordance with applicable laws in such jurisdictions. The common shares and warrants underlying the units, as well as the warrant shares issuable from the warrants if exercised, are immediately freely tradeable in accordance with applicable Canadian securities legislation, subject to any restriction on transfer imposed by the policies of the TSX Venture Exchange.

As consideration for their services in the offering, Red Cloud received aggregate cash fees of $195,300 and 3,906,000 non-transferable common share purchase warrants. Each broker warrant is exercisable into one common share at the offering price at any time on or before Nov. 19, 2030. The company has also paid aggregate cash fees of $8,561 and issued an aggregate of 171,212 non-transferable common share purchase warrants to certain eligible finders in connection with the offering on the same terms as the broker warrants.

The closing of the offering remains subject to the final approval of the TSX Venture Exchange.

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 uranium deposits into low-cost producers, while respecting the environment, the communities and the cultures in all the areas in which the company works. 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 demonstrated 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.

We seek Safe Harbor.