|March 23, 2012|
Blue Sky Shareholders Approve Restructuring
|Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL (WKN A0MKXP) ("Blue Sky" or the "Company") announces results from the Company's Special Meeting held on March 22, 2012. Of the total shares voted by proxy or in person for a proposed consolidation of the Company's share capital on the basis of one new common share of the Company for every ten existing common shares, 96.72% voted in favour. Post consolidation Blue Sky will have approximately 8,701,989 shares outstanding.|
The Company also announces that Mr. Normand Champigny has resigned as President, COO of the Company and Mr. Sean Hurd has been appointed as President and will continue to serve as Chairman and CEO. Mr. Champigny will remain involved as a Director of the Company.
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 deliver exceptional returns to shareholders by acquiring, exploring and advancing a portfolio of uranium projects with an emphasis on surficial deposits, in Argentina and other jurisdictions.
The Company recently entered into a MOU with AREVA to jointly explore Argentina for uranium deposits. The partnership will take full advantage of AREVA's vast global experience, Blue Sky's technical team and the Company's well established presence throughout Argentina (see press release of January 4, 2012 for complete details).
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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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
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