A Critical Interview With Nikolaos Cacos, President & CEO of Blue Sky Uranium

Ivana deposit; Rio Negro province, Argentina

After raising C$0.87M in October of last year, Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF) has been busy defining drill targets on their fully owned Amarillo Grande Uranium Vanadium project in Rio Negro, Argentina. An 8 kilometre long IP survey has been completed, which identified a 5 km long anomaly 20 km north of the Ivana deposit. The next step will be a reverse circulation (RC) drill program to hit the typical near surface mineralization. Management is looking to increase the resource towards a district scaled size, being redox type which regularly relates to very large deposits, and which in turn will likely improve 2019 PEA economics further. Speaking of which, as a reminder at a relatively (industry wide) low base case uranium oxide (O3O8) price of US$50/lb U3O8, the after-tax NPV8 of Ivana is US$135.2M and the IRR is 29.3%.

Blue Sky Uranium Raises C$0.87M And Continues Exploration Of Ivana Deposit; Newly Elected Argentinian President Fernandez Perceived As Positive For Mining

Ivana deposit; Rio Negro province, Argentina

1. Introduction

It has been a quiet year so far for Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF), as the uranium oxide spot prices dropped off again after a run-up in H2 2018, rising almost 50%, only to pull back another 20% or so from these heights as can be seen at this chart, which can be found on the website of Cameco:

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