Blue Sky Uranium Corp. Drilling Confirms Extensive Uranium - Vanadium Mineralization at ANIT by 24hgold

Mots clés associés : Uranium |

Re: News Release - Tuesday, May 18, 2010
Title: Blue Sky's Drilling Confirms Extensive Uranium -- Vanadium Mineralization at ANIT

Blue Sky Uranium Corp. (TSX-V: BSK, WKN: AOMKXP) is pleased to announce initial results from aircore drilling on its ANIT uranium-vanadium project in Rio Negro Province, Argentina. Blue Sky has completed 97 drill holes for 2463 meters of a planned 200 hole, 5,000 meter drilling program. Assay results from 1244 meters in 51 holes of the program have been received to date and are the subject of this press release. These results confirm the existence of a surficial uranium -- vanadium mineralized paleochannel. Drilling to date has been within or adjacent to the western 3.5km of the 15 km long airborne U channel anomaly in the ANIT West areas.

Of 51 holes reported 40 holes intersected mineralization above cut-off grade. The best intercept to date averaged 4 meters thickness at 0.108% U3O8 and 0.125% V2O5. The weighted average of intervals from all 40 mineralized drill holes was 2.73 meter thickness at 0.03% U3O8 and 0.096% V2O5 (see table 1).

In five holes that were re-drilled the average grade for uranium increased by 46% and the vanadium grades increased by 109% .The results reported above are from the 40 original drill holes, and do not included the re-drilled holes (see table 2 for the results from the re-drilled holes). Twinning of the holes and critical evaluation of sample results has lead Blue Sky's technical team to the conclusion that the current drilling method has not optimally sampled the semi to unconsolidated sediment-hosted mineralization, and a larger diameter drill hole or bulk sampling combined with measures to mitigate loss of fine material from samples may significantly increase the grades. Previously announced trench results from the ANIT West and Central areas returned a weighted average of mineralized intervals from all three trenches was 847 m grading 0.043 per cent U3O8 and 0.104 per cent V2O5 (see March 23, 2010 press release), indicating a potential drill recovery issue.

The Company has identified the technical issues regarding the drill sample recovery and is taking the required steps to resolve it. The aircore drill rig is currently being modified to use larger diameter HQ drill rods to increase the sample size and modifying the recovery system. The drilling program is expected to recommence within the next 10 days. Further Blue Sky is in the process of filing for an extension to our environmental permits to allow for an additional 20,000 meters drilling and expansion of its pitting and trenching activity on the ANIT project.

The Company believes that the ANIT anomaly may be similar in style to known deposits in Western Australia (Lake Maitland inferred resource of 23.7 million lbs U3O8 at an average grade of 0.033% U3O8, average mineralized thickness of 1.7 meters over 5 km by 2 km1) and in Namibia (Langer Heinrich deposit with Measured and Indicated Resources of 56.4Mt grading 0.06% containing 72.4 million pounds lbs of U3O8 and Inferred Resources of 70.7Mt grading 0.06% containing 91.6 million lbs of U3O8 in 7 zones over a strike length of 15 km2).

ANIT Aircore Drilling

Blue Sky's exploration team recently completed 97 NQ Aircore drill holes totaling 2463 meters. Assay results have been received for 1244 metres from 51 holes to date. The drill hole average depth was 24 m and was designed to confirm previous hand excavated pit and trench data as well as test the vertical extent and continuity of the mineralized paleo-channel that has so far been defined by pits and trenches along of 6km of strike length, within a larger 15km long radiometric uranium channel anomaly. The first 51 drill holes were distributed along lines spaced 200m apart with 3 drill holes per line located roughly 25m apart. All intercepts are believed to be true thickness and mineralization is flat-lying. The initial drill holes traversed the ANIT West anomaly. Mineralized results for holes that intercepted greater than cut off grade (1m at 0.006% U3O8) are tabulated below. For a map showing all drill hole locations, follow the links:

Map 1

Map 2

	From	To	Interval (m)	U (ppm)	V (ppm)	U3O8 %	V2O5 %
AN-03	0	3	3	54	474	0.006	0.085
AN-04	0	3	3	325	466	0.038	0.083
AN-05	1	3	2	116	922	0.014	0.165
AN-06	0	3	3	192	516	0.023	0.092
AN-07	0	4	4	346	588	0.041	0.105
AN-08	2	3	1	164	1042	0.019	0.186
AN-09	1	3	2	121	474	0.014	0.085
AN-10	0	2	2	98	563	0.012	0.100
AN-11	0	3	3	202	522	0.024	0.093
AN-12	1	2	1	224	931	0.026	0.166
AN-13	1	2	1	64	189	0.008	0.034
AN-15	1	3	2	109	739	0.013	0.132
AN-16	0	5	5	118	713	0.014	0.127
AN-17	3	5	2	118	312	0.014	0.056
AN-18	1	5	4	277	698	0.033	0.125
AN-19	2	3	1	73	372	0.009	0.066
AN-20	2	3	1	221	403	0.026	0.072
AN-21	1	3	2	111	656	0.013	0.117
AN-23	0	3	3	204	467	0.024	0.083
AN-24	0	4	4	496	606	0.058	0.108
AN-25	1	3	2	63	567	0.007	0.101
AN-26	0	5	5	555	751	0.065	0.134
AN-27	0	3	3	233	531	0.027	0.095
AN-28	0	3	3	392	722	0.046	0.129
AN-29	0	2	2	219	370	0.026	0.066
AN-30	0	2	2	269	1159	0.032	0.207
AN-33	0	2	2	248	488	0.029	0.087
AN-34	1	5	4	65	427	0.008	0.076
AN-35	0	4	4	370	706	0.044	0.126
AN-37	0	4	4	251	451	0.030	0.081
AN-38	1	3	2	344	424	0.041	0.076
AN-39	0	3	3	69	254	0.008	0.045
AN-40	0	4	4	919	703	0.108	0.125
AN-41	0	3	3	225	374	0.027	0.067
AN-42	0	2	2	536	353	0.063	0.063
AN-44	0	1	1	290	238	0.034	0.042
AN-45	0	5	5	302	236	0.036	0.042
AN-46	0	3	3	786	381	0.093	0.068
AN-47	0	4	4	267	217	0.031	0.039
AN-51	1	3	2	84	538	0.010	0.096
	AVERAGE		2.73	253	538	0.030	0.096

(1m at 0.006% U3O8 cutoff).

Due to the complexity of drilling loose sands and gravels at surface with fine interstitial mineralization in the form of carnotite a specialized aircore rig was imported from Australia. This rig has commonly been used to drill similar style deposits in Australia and Africa. During the drilling of the majority of the holes reported herein, the loss of significant quantities of fine material was observed from the drill. At drill hole 46 modifications were made to the drills cyclone system to reduce loss of fines and 5 holes were selected for re-drilling. Overall the re-drills (see table below) with the cyclone modifications resulted in uranium grades higher than in the initial drilled holes.

Hole ID	from	to	THICKNESS (m)	U_PPM	V_PPM	% increase in redrill U ppm	% increase in redrill V ppm
AN_07	0	4	4	346	588
AN 7 Redrill	0	4	4	354	568	2%	-3%
AN-08	2	3	1	164	1042
AN 8 Redrill	2	3	1	228	1299	39%	25%
AN-22	1	2	1	38	146
AN 22 Redrill	2	3	1	74	806	95%	452%
AN-23	0	3	3	204	467
AN 23 Redrill	0	3	3	246	573	21%	23%
AN-24	0	4	4	496	606
AN 24 Redrill	0	4	4	860	748	73%	23%
Average increase:						46%	109%

Further, all samples were weighed and qualitative recovery estimates were made based on an ideal calculated sample weight. These weights overall indicate loss of sample in the first 3 meters in a majority of drill holes. As a result of these observations the drill program will continue once the drill's sample collection and dust suppression system is further optimized to mitigate fine sample loss and the drill hole diameter increased from NQ to HQ.

Previously on the ANIT project the Company has identified a 6km long zone of near surface uranium-vanadium mineralization through a series of 83 hand-excavated pits (see September 10, 2009 news release). These pits had an average grade of 0.045% U3O8 with an average thickness of the mineralized interval 1.7m and were dug within a 15km long uranium channel airborne radiometric anomaly. Hand auger drilling from the bottom of 41 pits successfully extended mineralization to a maximum depth of 5.8m below surface.

Analyses of samples reported herein were performed by Alex Stewart Assayers, in Mendoza, Argentina, an internationally recognized analytical services provider, by means of Inductively Coupled Plasma Mass Spectrometry following a four acid digestion (ICP-AR). Blank, duplicate, and standard samples were inserted into the sample sequence sent to the lab for quality assurance/quality control (QA/QC) purposes. In total, 226 quality control samples (16 % of 1392 total) were analyzed. Blue Sky detected no significant QA/QC issues during review of the data. Note that 10,000 ppm = 1% and 1% = 1.1792% U3O8, 1% = 1.785% V2O5.

The technical information contained in this release has been prepared by Bruce Smith, AusIMM, Blue Sky Uranium Exploration Manager and a Qualified Person as defined by National Instrument 43-101

About Blue Sky Uranium Corp.

Blue Sky has, through its membership with Grosso Group Management, has signed and agreement in principle for a strategic alliance with the Government of Rio Negro for the purpose of jointly exploring the potential for commercial mining activity to develop mining projects that provide for the acquisition, exploration and exploitation of polymetallic and energy related mineral deposits. The Company is dedicated to actively exploring the Patagonia region of Argentina. Experienced management and technical members, who foster relationships with a vast amount of international industry contacts, lead the exploration team on the search for quality resource opportunities. Blue Sky is a member of the Grosso Group, a resource management group with over 15 years experience in exploring South America.

ON BEHALF OF THE BOARD

"Sean Hurd"

Mr. Sean Hurd, President & CEO

1. Source Lake Maitland 43-101 report
2. Source Paladin Energy Ltd. Web site

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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