Blue Sky Uranium Corp.

Blue Sky Uranium Corp.

February 21, 2008 06:00 ET

Blue Sky 2008 Argentina Exploration Program Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2008) - Blue Sky Uranium Corp. (TSX VENTURE:BSK)(FRANKFURT:MAL)(WKN A0MKXP) is pleased to announce the commencement of its 2008 exploration programs on the ANIT and Santa Barbara uranium discoveries in Rio Negro Province, Argentina. The field programs will focus on the exploration of several large, very strong radiometric anomalies. Abundant uranium-bearing petrified wood and visible yellow uranium mineralization characterize the surfaces of all claims. No systematic exploration has ever been conducted on either project.

The ANIT discovery contains a mineralized trend that extends for over 15 km in length and varies up to 2 km in width. The strength of the radiometric anomaly at ANIT closely resembles that of the Cerro Solo deposit in neighboring Chubut Province that contains approximately 10 million pounds U3O8. The footprint of the anomaly at ANIT is an order of magnitude larger than that of Cerro Solo. The Santa Barbara project contains three parallel zones of uranium mineralization, 11 km, 6.5 km and 5 km in length respectively and up to 1.5 km in width.

Both the ANIT and Santa Barbara projects are in a "sandstone-hosted" environment, similar to the important Grants Uranium District in New Mexico, where more than 340 million pounds of uranium have been produced. Except for in and around a few known deposits, exploration for uranium in Argentina has been very limited until recently and these two discoveries in Rio Negro Province may represent the discovery of a new uranium district. Blue Sky and its partners, Argentina Uranium Corp., are the first to do any systematic modern exploration in Rio Negro. These two discoveries indicate the effectiveness of Blue Sky's grassroots exploration strategy in this region.

The exploration program will include overburden augur sampling to a depth of 3 to 5 metres, radon gas analyses, ground geophysics, geologic mapping, surface chip sampling from trenches and the chemical analyses of augured and trench samples. The exploration program is expected to be completed in May 2008 and results from the program will be released on an ongoing basis as they become available.

The ANIT project contains a strong 15km long radiometric anomaly that varies up to 2 km in width. Numerous surface discoveries of disseminated uranium mineralization and uranium-bearing petrified wood were made along road cuts across the ANIT airborne radioactive anomaly in a November 2007 investigation. Blue Sky is earning a 75% interest in the ANIT project from Argentina Uranium Corp. (see press release dated January 11, 2008).

In 2007 surface sampling on the Santa Barbara project confirmed the presence of uranium mineralization with values of up to 1.3% U3O8. Three northeast trending zones of uranium mineralization, each approximately 11 km, 6.5 km and 5 km in length and varying up to 1 km in width, were identified in the airborne survey and remain to be evaluated. Blue Sky is earning a 75% interest in the Santa Barbara project from Argentina Uranium Corp. (see press release dated May 9, 2007).

The exploration program is designed to determine the size and continuity of the radiometric anomalies and, through detailed rock and soil sampling, typical uranium grades. Uranium mineralization appears to be confined to Lower Cretaceous age tuffaceous sandstones and conglomerates in paleochannels. The topography is flat lying with limited outcrop. The exploration model focuses on continental fluvial systems developed in an intra-cratonic basin that filled with continental pyroclastic, continental, channel-fill sediments carrying petrified wood, vegetative matter and bitumen in the gravels. These sediments provided the reducing environment to precipitate and concentrate soluble uranium that was weathering from uraniferous Jurassic felsic sediments to the southwest. Some additional structural and/or stratigraphic controls may be operational in the Santa Barbara discovery.

Blue Sky is a uranium exploration company led by experienced management and technical teams. Blue Sky is actively exploring in the Patagonia region of Argentina, in Colombia and in the Athabasca area of Northern Saskatchewan. Blue Sky is a member of the Grosso Group, a resource management group with over 15 years experience in exploring South America.


Mr. Sean Hurd, President & CEO

Cautionary Note to U.S. 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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