These licenses cover a new uranium discovery that was identified by a 22,000sq km airborne radiometric survey completed in 2010.

The intersections include 3m grading 0.068 % U3O8 in unconsolidated sediments beginning at surface and open to depth in a hand excavated pit within a newly discovered 40km by 10km enclosed basin.

The seven exploration licenses that Blue Sky has applied for total 62,500 hectares and cover a new uranium discovery within the large San Jorge Basin, which is also host to several other company projects including the ANIT project.

Preliminary reconnaissance was done only on one license where 19 hand pits within a 7km x 4km area confirmed the presence of significant uranium mineralization hosted in fine sandstones, clays and tuffs.

The 2010 airborne radiometric data indicates that there is potential to discover significant uranium mineralization across 30km of the closed sedimentary basin.

There is no evidence of previous uranium exploration in this area and a comprehensive exploration program is being planned for the new targets once the required permits have been granted.

The company’s exploration objectives are to identify satellite uranium deposits within the 200km wide San Jorge Basin and to continue to follow up on the airborne survey that Blue Sky completed in 2010 to maximize Blue Sky’s first mover advantage.