Announcement • Jan 14

Blue Sky Uranium Corp. and Ivana Minerales S.A. Report Positive Final Infill Drilling Results as It Advances Towards Prefeasibility-Feasibility Studies At Ivana Deposit, Amarillo Grande Project, Argentina

Blue Sky Uranium Corp. and Ivana Minerales S.A. reported the complete results of the infill drilling program at the Ivana Deposit (as announced on June 16, 2025), Amarillo Grande Project in Rio Negro Province, Argentina. Completing the infill drill program was a key step identified in the recent Gap Analysis for moving the project forward towards prefeasibility. The program included 328 holes totaling 4,959 metres of reverse circulation drilling, with holes averaging 15 metres in depth. To refine mineralization/deposit limits; and to support upgrading the classification of some of the current inferred resources in a future mineral resource estimate update. To date, a total of 1,166 drill holes comprising 15,828 metres of RC drilling have been completed at the Ivana Deposit. Table 1 presents the collar coordinates and collar data for the 328 holes, as well as selected intervals of uranium mineralization with at least 1m 30ppm U3O8. Assays results indicate that approximately 15% of the holes (51 holes) intercepted at least 1m @ 0.1% or 1,000ppm U3O8; with values up to 1m @ 0.7% or 7,000ppm U3 O8 (in hole AGI-884). These results confirm the continuity of the high-grade horizons previously defined for the deposit in this area. Highlight results for the entire infill program includes: 4m averaging 4,368ppm U3O8 in AGI-884, starting at 9m depth, including: 1m @ 7,003ppm U3O8, and 1m @ 6,237ppm U3O8.; 2m averaging 4,433ppm U3O8 at AGI-873, starting at 9m depth., including: 1m @ 5,918ppm U3O8 and 1m @ 2,947ppm U3O8". Approximately every 10th sample, blank, duplicate, or standard samples were inserted into the sample sequence for quality assurance/quality control ("QA/QC") purposes, summing 579 QAQC samples included at entire program (10.5%). The internal assessment of the QA/QC data for the infill program determined that the analytical results reported herein are within standard industry limits. All the lab results were received and audited by external advisors Lions Gate Geological Consulting Inc. to verify the statistical correlation between previous results versus the current program to confirm that the quality of information reported herein maintained the standard good practices and are verifiable. The audit concluded that: "no significant differences exists between results generated by the various drilling campaigns and that the combined dataset is of sufficient quality and reliability to support future mineral resource estimations." The activities of JVCO are subject to the earn-in transaction (the "Ag Agreement") in which COAM will fund cumulative expenditures of USD 35 million to acquire a 49.9% indirect equity interest in the Ivana deposit, and then has the further right to earn up to an 80% equity interest in JVCO by completion of a feasibility study and funding the costs and expenditures up to USD 160,000,000 to develop and construct the project to commercial production, subject to the terms and conditions in the Agreement. Blue Sky's 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. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal and transition metal price fluctuations, particularly uranium and vanadium; risks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of the Company on key management staff; the potential impact of the company on key management personnel and external parties.

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Blue Sky Uranium Corp. and Ivana Minerales S.A. Report Positive Final Infill Drilling Results as It Advances Towards Prefeasibility-Feasibility Studies At Ivana Deposit, Amarillo Grande Project, Argentina

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