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Blue Sky Uranium Ahead of the Pack in Argentina

Vancouver-based Blue Sky Uranium Corp.demand for energy keep growing, the price of
(TSX.V: BSK), barely out of the startingoil keeps going up, new nuclear reactors are
gate, makes no bones about its internationalon the drawing boards, and the spot price of
ambitions.uranium  has  approached  US$100/lb.
"We would like to end 2008 as the largestArgentina, with two Canadian-built nuclear
uranium land holder in Argentina and thereactors in operation, is now building a
dominant uranium explorer," says Blue Skythird, hoping to supply 20% of the country's
president  Sean  Hurd.energy demand from that source by 2025, up
from  seven  per  cent  today.
So far, 18-month-old Blue Sky is more than
4,000 km2 along that road, with its SantaThat means annual domestic demand for uranium
Barbara property in Rio Negro province ofwill nearly double, from a current 110
northern Patagonia staked by the man who maytonnes,  to  210  tonnes.
be Argentina's leading uranium exploration
geologist.Blue Sky found its Argentinean niche in the
first place through its stake in Grosso Group
As Hurd tells it, Dr. Jorge Berrizzo, afterManagement Ltd. - headed by Argentina native
14 years at the Argentinean National AtomicJoe Grosso - which has been exploring for
Energy Commission, is finding new freedom inminerals and for oil and gas in South America
the private sector, just as the Argentineansince  1990.
uranium  market  is  starting  to  buzz.
Blue Sky director Hernan Celorrio is on the
While Berrizzo played a large role in theground in Argentina, dealing with the daily
discovery of the Cerro Solo uranium depositred tape of both federal and provincial
in Chubut province, to the south of Riogovernments. "It's very difficult to do that
Negro, "the problem with working for thefrom Canada," Hurd said. The Buenos Aires
government is that your focus is narrow andprofessor of law was president of Barrick
your funding is limited," Hurd said in anExplorations  Argentina  from  1999  to 2006.
interview.
And Dr. Clifton Farrell, with 25 years in the
So Berrizzo has teamed up with a number ofuranium and alternate energy fields, has just
private businessmen in the Argentina Uraniumjoined Blue Sky as chief operating officer.
Corp. to explore interesting, but untouched,Along with a PhD in geochemistry from Harvard
regions. And Blue Sky, bringing to the tableUniversity, Farrell comes fresh from 12 years
its ability as a public company to raiseat the Nuclear Energy Institute in
capital, now has a deal with ArgentinaWashington, where he looked after licensing
Uranium to earn a 75% interest in the Santaand  regulatory  affairs.
Barbara  property.
Argentina may be looking fairly stable
Surface sampling has turned up grades of uppolitically these days, but Blue Sky also has
to 1.5% U3O8, along an 11-kilometre trend.a couple of small properties in Columbia.
That compares to 0.3-0.5% U3O8 at the CerroHurd admits that, even five years ago, any
Solo  deposit.foray into that country would have all but
unthinkable.
"There is obvious uranium mineralization at
the surface, which is rare and exciting,"However, "there's been a vast improvement in
Hurd said. "And we've completed an airborneColumbia in the climate for exploration," he
radiometric and magnetic survey over 3,000insisted. "We have option agreements on two
square kilometers. It's the first survey ofuranium properties and we're not operating in
its  kind  conducted  in  that  province."the country on our own. We're going through
the  Grosso  Group."
"At Santa Barbara, our objective is to follow
up the air survey with detailed sampling,"It's a chance to get in before other
leading  to  a  drill  program."companies  recognize  the  opportunity."
Hurd expects Santa Barbara to be just theBlue Sky doesn't have all its eggs in a South
beginning. "The geological environment in theAmerican basket, though. A joint venture with
western United States where the bulk of theEagle Plains Resources at Eagle Lake, on the
U.S. uranium production comes from (also)outside edge of Canada's Athabasca Basin, was
exists  in  Argentina,"  he  said.Blue  Sky's  first  property.
While the Argentinean government focused on"It's had good historical sampling," Hurd
exploring in Chubut, regions to both thesaid. "We've completed several surface
north and the south look geologicallyprograms and we are waiting to drill the
promising,  he  said.property as soon as the winter freeze-up
comes."
And, after years of slumber, the uranium rush
appears to be underway. Argentina has seenThis article is intended for information
uranium exploration since the 1950s, but thepurposes only, and is not a recommendation to
country only opened to foreign mineralbuy or sell the equities of any company
exploration in 1993 and to uraniummentioned herein. It is based on sources
exploration,  in  particular,  in  2000.believed to be reliable, but no warranty as
to accuracy is expressed or implied. The
Meanwhile, the country's mines all closed andopinions expressed in the article are those
exploration tapered off to nothing as theof the author except where statements are
price of uranium bottomed out at US$7/lb,attributed to individuals other than the
thanks to the recycling of militaryauthor, in which case the opinions are those
stockpiles.of the individual to whom they are
attributed.
But those stockpiles are petering out, the



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