“The current market interest in vanadium as a component of storage batteries for renewable energy has helped spur a significant price increase over the last year,” stated Nikolaos Cacos, Blue Sky President & CEO. “These results confirm the regional potential of Amarillo Grande where two significant uranium-vanadium discoveries have been made by the Company.  Amarillo Grande covers a one hundred and forty kilometre trend where there is potential for many more discoveries.”

RC Drill intercepts from Phase I yielded strong vanadium mineralization, including:

• 3,411 ppm V₂O₅ over 1 m
  – within 560 ppm V₂O₅ over 10 m in AGA-0049
• 2,510 ppm V₂O₅ over 1 m
  – within 810 ppm V₂O₅ over 16 m in AGA-0059
• 2,508 ppm V₂O₅ over 1 m
  – within 930 ppm V₂O₅ over 08 m in AGA-0060
• 2,367 ppm V₂O₅ over 1 m
  – within 876 ppm V₂O₅ over 13 m in AGA-0058
• 2,349 ppm V₂O₅ over 1 m
  – within 859 ppm V₂O₅ over 08 m in AGA-0078
• 2,190 ppm V₂O₅ over 1 m
  – within 685 ppm V₂O₅ over 12 m in AGA-0050
• 2,085 ppm V₂O₅ over 1 m
  – within 616 ppm V₂O₅ over 11 m in AGA-0051
• 2,074 ppm V₂O₅ over 1 m
  – within 746 ppm V₂O₅ over 09 m in AGA-0056
• 2,030 ppm V₂O₅ over 1 m
  – within 847 ppm V₂O₅ over 08 m in AGA-0049

About Vanadium 
Vanadium is traditionally used as a hardening additive in steel manufacturing.  More recently, vanadium has become the main constituent of vanadium redox flow storage batteries.  Storage batteries are a key component in the sustainability of renewable, but intermittent, energy sources such as wind and solar, which are expected to see increasing future market shareⁱ. The current market supply of vanadium is mainly from China, where supply reportedly tightened in the last year.  These and other factors have resulted in  prices of Vanadium surging over the past year^ii,iii.

Program Details, Anit Zone, Amarillo Grande Project
The Phase I program recently carried out at Anit included a pole-dipole electrical tomography (ET) geophysical survey and 1170 metres of Reverse Circulation (RC) drilling in 83 holes drilled to a maximum depth of 20 metres.  Results from these holes were previously released (see September 18, 2017 news release), however the interpretation was focused on uranium and therefore intervals were reported only when uranium was greater than 30ppm over more than 1 metre.  Re-interpreted results focused on Vanadium intervals >250ppm over 1 metre, are reported in Table 1: https://www.blueskyuranium.com/assets/news/2017-11-08-nrt-bsk-h8nb22.pdf.  All holes were vertical and as such, reported mineralized intercepts are believed to approximate true thickness.

Previous exploration efforts, carried out by the Company at Anit between 2008 and 2010, included airborne radiometric surveying, pit and trench sampling, radon gas surveys and auger and aircore drilling along a 15 kilometre-long airborne radiometric anomaly related to a surficial paleo-channel.  (For details of these programs please refer to the NI 43-101 Technical Report filed on SEDAR dated May 29^th, 2012.) The primary focus of work at the Anit target to date has been on near-surface uranium mineralization related to the uranium-vanadium mineral carnotite  (K₂(UO₂)₂(VO₄)₂·3H2O) which occurs as coatings on grains and interstitially in weakly-consolidated medium-grained sands which have been sampled from surface to approximately 20 metres depth.   Integration of the data has shown that elevated vanadium is distributed over a wider area with greater thickness than the main zone of uranium mineralization concentrated in the core of the paleo-channel; more work is required to determine the extent and mineralogy of the vanadium mineralization.

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