Blue Sky Uranium Corp.
TSX VENTURE : BSK
FRANKFURT : MAL

Blue Sky Uranium Corp.

October 03, 2007 03:01 ET

Blue Sky Completes 3,000 Square km Airborne Radiometric Survey in Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 3, 2007) - Blue Sky Uranium Corp. (TSX VENTURE:BSK)(FRANKFURT:MAL)(WKN A0MKXP) is pleased to announce that the company has completed an airborne radiometric and magnetic survey in Rio Negro province, Argentina covering more than 3,000 square kilometres. The survey was carried out by New Sense Geophysics Limited as part of the ongoing work on the Company's Santa Barbara project and review of over 4,000 square km of uranium projects in Argentina. Blue Sky is expecting to have the final interpretation and report from this program shortly and is planning surface programs to follow up on airborne targets.

"This significant airborne program has been conducted over an under-explored region that has never seen systematic airborne radiometric and magnetic surveys in the past. This represents a great opportunity for our Company as we continue to pursue our objective of becoming one of the leading uranium explorers in Argentina," said Dr. Clifton Farrell, Executive VP and C.O.O.

Airborne radiometric surveys can rapidly delineate areas of elevated surface uranium mineralization for subsequent detailed geological examination, sampling and resource assessment. Blue Sky is employing this exploration technique to focus on the most prospective areas for follow-up exploration.

To date in Rio Negro, Blue Sky has acquired an option to earn a 75% interest in the 60,000 hectare Santa Barbara project from Argentina Uranium Corp. Surface exploration work has identified a mineralized trend that extends for over 11 km with grades up to 13,400 ppm U corresponding with a fault mapped on government geological maps (see news release dated Sept. 10-07). Preliminary results from the airborne survey show that the mineralized trend correlates with a linear radiometric anomaly.

The Santa Barbara uranium project is a new discovery made by Dr. Jorge Berizzo, an internationally recognized Argentine geologist who also played a leading role in the discovery of the Cerro Solo uranium deposit (10.14 million pounds U at 0.3 to 0.5 per cent U) in nearby Chubut province. Blue Sky has an exclusive agreement with Argentine Uranium to review over 4,000 square kilometres of its prospective uranium property in Argentina.

The uranium mineralization identified to date on the Santa Barbara property is hosted by flat lying continental fluvial Upper Cretaceous calcite-cemented conglomerate and sandstone interlayered between limonitic mudstones with high gypsum contents within the Neuquen Basin. These rocks are located in an area of subdued topography. Cerro Solo is hosted by Lower Cretaceous fluvial sedimentary rocks of the San Jorge Basin in a similar geological setting.

The contents of this news release have been reviewed by Dr. Ron McMillan, P.Geo., a consultant to and director of the Company, and a Qualified Person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD

Mr. Sean Hurd, President & CEO

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.

2007

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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