Mr. Nikolaos Cacos reports

BLUE SKY URANIUM ADVANCES IVANA PROJECT WITH METALLURGICAL TEST PROGRAM AND FEASIBILITY ENGINEERING AGREEMENTS

Blue Sky Uranium Corp.'s joint venture operating company, Ivana Minerales SA (IMSA) has executed service agreements with M3 Engineering & Technology and the Saskatchewan Research Council (SRC) to support engineering and metallurgical testing programs for the Ivana uranium-vanadium project in Rio Negro province, Argentina.

These agreements represent an important step in advancing the Ivana project toward prefeasibility- and feasibility-level studies, providing the technical framework required to optimize metallurgical recovery, support engineering design, advance economic evaluation of the project and, ultimately, support potential development decisions for the Ivana project. The programs will generate key engineering and metallurgical data necessary to:

• Define the optimal processing flow sheet for uranium and vanadium recovery;
• Support process design and engineering required for economic studies;
• Reduce technical risk through detailed metallurgical characterization and recovery testing;
• Integrate metallurgical results into broader mine planning, environmental and engineering studies.

Nikolaos Cacos, president and chief executive officer of Blue Sky Uranium, commented: "With the execution of these agreements, we remain on track with our timeline to advance the Ivana project and unlock the potential value of this significant uranium-vanadium deposit. We will now be moving forward to collect and assess the metallurgical data required to support future economic studies and project development. The agreements with M3 and SRC bring together world-class engineering and metallurgical expertise that will be critical to optimizing uranium and vanadium recovery and advancing the project toward the next stage."

Current work programs under way on the Ivana project include:

• Metallurgical testing and process development;
• Environmental baseline and permitting studies;
• Hydrogeological investigations and water sourcing.

Future phases of work are expected to include geotechnical investigations, mine engineering, civil engineering and process engineering to support future economic studies.

Metallurgical testing program details

IMSA has entered into a services agreement with the SRC to conduct a comprehensive metallurgical testing program at SRC's laboratories in Canada.

The initial phase I program will involve approximately 900 kilograms of mineralized material consisting of three composite samples representing low-grade, medium-grade and high-grade mineralization from the Ivana deposit. The samples have arrived at the SRC laboratory and testing is expected to commence shortly.

The metallurgical program will include detailed mineralogical characterization, beneficiation testing (including scalping and attrition scrubbing), bottle-roll leaching tests evaluating both alkaline and acidic leach conditions, and analysis of uranium and vanadium extraction kinetics and reagent consumption.

The results of this program will support the definition of optimal processing parameters and may lead to additional phase II work, including agitated leach testing, solvent extraction circuits to separate uranium and vanadium, product precipitation testing, and filtration and tailings management assessments.

Engineering services agreement details

IMSA has entered into service agreements with M3 Engineering & Technology Corp. (USA) and M3 Argentina SRL to provide engineering, advisory and consulting services in support of the continuing feasibility study program for the Ivana uranium-vanadium project.

M3 is an internationally recognized engineering firm with extensive experience in the design, engineering and development of mining and metallurgical processing facilities. Through these agreements, M3 will work closely with the company and its technical consultants to advance key engineering and project development activities required to support future economic studies and potential project development.

Under the scope of the agreements, M3 will provide engineering coordination, technical advisory services and feasibility study support, including the integration of metallurgical test work results into the design of the proposed processing flow sheet and plant configuration. The engineering work will include the evaluation and development of processing alternatives, optimization of metallurgical recovery parameters, and definition of the principal process circuits required for uranium and vanadium recovery.

M3 will also assist in co-ordinating and integrating engineering inputs across multiple technical disciplines required for feasibility-level studies, including process engineering, mine planning support, infrastructure development and civil engineering considerations. This work will help define key project design criteria, including plant throughput assumptions, process plant layout, infrastructure requirements , and other engineering parameters necessary for project evaluation.

In addition, M3 will support the preparation and integration of engineering inputs required for capital and operating cost estimation, which will form part of the technical and economic framework of future project studies. The firm will also assist in ensuring that metallurgical test work results generated by the Saskatchewan Research Council are effectively incorporated into engineering design and process development.

Qualified persons

The technical contents of this news release have been reviewed and approved by Ariel Testi, CPG, who works for the company and is a qualified person as defined in National Instrument 43-101.

Ivana uranium-vanadium project

The Ivana project is Blue Sky's flagship uranium-vanadium project located in Rio Negro province, Argentina. The deposit is characterized by near-surface uranium and vanadium mineralization amenable to low-strip open-pit mining and conventional processing. The project benefits from favourable infrastructure, including road access, nearby rail transportation and proximity to deepwater ports on the Atlantic coast. The Ivana deposit is considered one of the most advanced uranium development projects in Argentina and forms a key component of Blue Sky's strategy to develop a new uranium district in the region.

About Ivana Minerales SA

Ivana Minerales is the operating company for the joint venture between Blue Sky and its partner, Abatare Spain SLU (COAM), to advance the Ivana uranium-vanadium deposit in Rio Negro province of Argentina. The activities of the JV company are subject to the earn-in transaction, in which COAM will finance cumulative expenditures of $35-million (U.S.) to acquire a 49.9-per-cent indirect equity interest in the Ivana deposit and then has the further right to earn up to an 80-per-cent equity interest in the JV company by completion of a feasibility study and financing the costs and expenditures up to $160-million (U.S.) to develop and construct the project to commercial production, subject to the terms and conditions in the agreement. The JV company also has a call option to acquire a 100-per-cent interest in all or part of certain exploration targets (including Ivana East) owned by Blue Sky's 100-per-cent-held subsidiary, subject to certain conditions. For additional details, please refer to the news release dated Feb. 27, 2025, as well as the company's latest financial statements and management and discussion and analysis, available on Blue Sky's website.

About Blue Sky Uranium Corp.

Blue Sky Uranium is a leader in uranium discovery in Argentina. The company's objective is to rapidly advance 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.

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