Vancouver, BC / May 13 2014 / Blue Sky Uranium Corp. (TSX-V: BSK, FRA: MAL (WKN: A0MKXP), "Blue Sky" or the "Company") wishes to announce that the CEO of AREVA Mines ("AREVA") has informed Blue Sky Uranium that AREVA will not be continuing with the partnership as announced on January 4th, 2012.
Blue Sky was initially notified in writing by AREVA's Geosciences division that they would be continuing their partnership with the Company to earn a 51% interest in Blue Sky's Ivana project, after the recent drill program and as per the terms of the MOU between the two companies. It is with surprise that we have subsequently been notified by AREVA's CEO that their company would not continue with the project in Argentina.
Blue Sky confirms it will continue to advance its high potential uranium projects while also seeking new partners. AREVA spent approximately $3 million advancing Blue Sky's projects in the Provinces of Rio Negro and Chubut, Argentina. The Company now retains a 100% interest in all of its projects in Argentina that cover over 5,000 square kilometres. Blue Sky's management is grateful to AREVA for the enthusiastic work climate and professional attitude that they brought to our projects and to our team in Argentina.
About Blue Sky Uranium Corp.
Blue Sky is one of Argentina's best positioned uranium exploration companies with more than 5,000 km2 of tenements. The Company's mission is to acquire, explore and advance a portfolio of uranium projects with an emphasis on surficial deposits, in Argentina and other jurisdictions.
The Company is a member of the Grosso Group, a resource management group with experience in South America since 1993. As a member company of the Grosso Group, Blue Sky benefits from the signing of an agreement in principle for a strategic alliance with the Government of the Rio Negro province, Argentina, for the purpose of jointly exploring the potential for commercial mining activity. Argentina has an advanced nuclear industry, centered in the Rio Negro Province.
ON BEHALF OF THE BOARD
Mr. Sean Hurd, President and CEO
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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. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. 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.
SOURCE: Blue Sky Uranium Corp.
Release ID: 44322