Blue Sky Uranium is Working to Help Fuel Argentina’s Nuclear Future

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• Blue Sky and its Option/Joint Venture partner are progressing Argentina’s most advanced uranium project through a fully funded joint venture, offering investors a rare opportunity to participate in a potential production story.
• The Ivana project’s near-surface resource and scalable design with projected lower quartile operating costs position it to benefit from rising uranium prices.
• Blue Sky also controls a large property portfolio with demonstrated exploration potential in a country with strong regulatory tailwinds and guaranteed domestic purchasing.

By Staff Writer

Market One

Disseminated on Behalf of: Blue Sky Uranium Corp.

A global uranium crunch is no longer a distant threat. It’s a present reality reshaping the nuclear energy landscape as nations double down on clean, reliable power. With demand projected to rise by more than 140 percent by 2050, driven by electrification, artificial intelligence, and global efforts to decarbonize, the supply of uranium is simply not keeping up. The result is a deepening structural gap that could last for decades, placing uranium at the center of an energy security race now unfolding across continents.

Argentina stands as a stark example of both the problem and the opportunity. Despite having three operational nuclear reactors, another under construction, and two more in planning, the country imports all of its uranium. It has enrichment and conversion infrastructure but no domestic mining.

This disconnect is a potential opportunity for Blue Sky Uranium Corp. (BSK.VN) (BKUCF) (FSE:MAL2), a Canadian-listed company with a goal of becoming Argentina’s first domestic uranium producer in over 40 years and a participant in the global uranium revival.

Blue Sky advances flagship uranium asset

Blue Sky’s flagship Ivana Deposit is both among the most advanced uranium project in Argentina and the country’s largest NI 43-101 compliant uranium resource, now moving steadily towards feasibility stage studies and potentially production, said company CEO Nikolaos Cacos.

Located in Rio Negro province within the 145-kilometre-long Amarillo Grande Project, the property has a current Indicated mineral resource containing 19.7 million tonnes averaging 0.039% U3O8 and 0.019% V2O5 for 17.0 million pounds of U3O8 and 8.1 million pounds of V2O5 at a 100 ppm uranium cut-off.  Additionally, the estimate includes Inferred mineral resources of 5.6 million tonnes averaging 0.031% U3O8 and 0.019% V2O5 for 3.8 million pounds of U3O8 and 2.4 million pounds of V2O5, also at a 100 ppm uranium cut-off.

The deposit sits at surface, with all mineralization less than 25 metres deep, and requires no blasting due to its unconsolidated to semi-consolidated host rocks. Additionally, the current processing plan does not require the addition of oxygen, reflecting the deposit’s relatively simple metallurgy.

A 2024 Preliminary Economic Assessment (PEA) outlined a low-cost, 11-year operation with a base-case after-tax net present value (NPV) of US$227.7 million and an internal rate of return (IRR) of 38.9 percent at a uranium price of US$75 per pound. If prices rise to US$105, which many analysts are predicting, the NPV increases to over US$418 million, with an IRR of 57 percent. Average all-in sustaining costs are estimated at just under US$25 per pound^*.

“Production from Ivana along the lines of what was contemplated in our PEA would allow Argentina to attain self-sufficiency in uranium,” said Cacos, whose company is part of the Grosso Group, a pioneer in Argentine mineral exploration since 1993. The group has a successful track record that includes major discoveries such as Gualcamayo (gold), Navidad (silver-lead), and Chinchillas (silver-zinc-lead).

Strategic partnership de-risks path to production

Blue Sky has also removed a major development hurdle, the funding advanced engineering studies and capex, through a transformative option/joint venture with Abatare Spain S.L.U., a subsidiary of Corporación América Group (COAM), one of Argentina’s most influential industrial conglomerates.

Under the terms of the agreement, COAM can invest up to US$35 million over three years to earn a 49.9 percent indirect stake in the Ivana project. To earn 80 percent, COAM must fund the full estimated capital expenditure of up to US$160 million (based on the 2024 PEA) to bring Ivana into commercial production. The JV — administered through the company Ivana Minerales S.A. — includes an additional US$7.85 million exploration program at nearby targets over six years, while Blue Sky retains 100 percent ownership of the rest of the Amarillo Grande district.

This month, the company announced that Ivana Minerales S.A. has kicked off a major new drill program to advance the Ivana Uranium-Vanadium deposit toward feasibility. Up to 6,000 metres of reverse circulation (RC) drilling is planned across approximately 330 holes, with the goal of upgrading inferred resources to the indicated category, refining the geological model, and optimizing mine design as outlined in the company’s latest Preliminary Economic Assessment.

Following this phase, a second drill campaign of up to 2,500 metres will begin immediately, targeting at least two high-priority exploration zones near the Ivana deposit.

“With COAM’s support, the JV plans to rapidly advance Ivana with this drill program while continuing other work such as metallurgy and process engineering in order to achieve feasibility and potential production as swiftly as possible,” said Cacos.

Beyond Ivana, Blue Sky holds 100 percent control of multiple other targets along the Amarillo Grande trend and has launched two new in-situ recovery (ISR) uranium projects in Argentina’s Neuquén Basin. These projects span 80,000 hectares and benefit from historical oil and gas drilling data, offering significant low-cost growth potential.

Undervalued first mover with long-term growth potential

“We’re not just advancing the Ivana Uranium Project… we’re contributing to the foundation for Argentina’s nuclear future” — Nikolaos Cacos, President & CEO

For investors, this presents a unique entry point into the uranium sector at a time of rising demand, tightening global supply, and strong national policy support.

Cacos emphasized that Argentina’s legal framework guarantees state purchase of all uranium produced within its borders, making the Ivana Deposit not just an 

opportunity, but potentially a strategic asset for national energy security.

“We’re not just advancing the Ivana Uranium Project… we’re contributing to the foundation for Argentina’s nuclear future” said Cacos, who is authoring one of the most compelling uranium stories unfolding on the global stage today.

ABOUT BLUE SKY URANIUM CORP.

Blue Sky Uranium Corp. is one of Argentina's best-positioned uranium and vanadium exploration companies with more than 4,000 km² of prospective tenements. The Company's mission is to deliver exceptional returns to shareholders by acquiring, exploring and advancing towards production a portfolio of uranium-vanadium projects, with an emphasis on near-surface deposits with the potential for near-term low-cost production. Learn more about the company by visiting their website here.

^*PEA is preliminary in nature and is intended to provide an initial assessment of the project’s economic potential and development options. The PEA mine schedule and economic assessment includes numerous assumptions and is based on both Indicated and Inferred mineral resources. Inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA results will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.  Additional exploration will be required to potentially up-grade the classification of the inferred mineral resources to be considered in future advanced studies.

This article is paid for by Blue Sky Uranium Corporation.

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