Blue Sky Uranium Corp. — Capital/Financing Update 2023

Jul 11, 2023

Form 51-102F3 MATERIAL CHANGE REPORT

Item 1. Name and Address of Reporting Issuer

Blue Sky Uranium Corp. (the “ Company ” or “ Blue Sky ”) Suite 312, 837 West Hastings Street Vancouver BC V6C 3N6

Item 2. Date of Material Change

June 19, 2023 and June 20, 2023.

Item 3. News Release

News Releases dated June 19, 2023 and June 21, 2023 were disseminated via CNW.

Item 4. Summary of Material Changes

A summary of the nature and substance of the material change is as follows:

Blue Sky Uranium Closes 1[st] Tranche of Non-Brokered Private Placement

And

Amended Blue Sky Uranium Closes 1[st] Tranche of Non-Brokered Private Placement

Item 5. Full Description of Material Change

5.1 Full Description of Material Change

On June 19, 2023, the Company announced that it had closed the 1[st] tranche of a non-brokered private placement previously announced on June 8, 2023. The Company issued 14,155,635 units at a subscription price of $0.075 per unit for aggregate gross proceeds to the Company of $1,061,672.63.

On June 21, 2023, the Company announced an increase of the units issued to include an additional 666,666 units for a new total for the 1[st] tranche of 14,822,301 units for aggregate gross proceeds of $1,111,672.58.

Each Unit consists of one common share and one transferrable common share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.12 per share for three (3) years from the date of issue, expiring on June 19, 2026.

In total, Finder’s fees of $48,073.90 were paid for the 1[st] tranche in cash on a portion of the private placement to parties at arm’s length to the Company. In addition in total, 640,985 nontransferable finder’s warrants were issued (the “ Finder’s Warrants ”). Each Finder’s Warrant entitles a finder to purchase one common share at a price of $0.075 per share for three (3) years from the date of issue, expiring on June 19, 2026.

The proceeds of the financing will be used for exploration programs on the Company’s projects in Argentina and for general working capital.

This financing is subject to regulatory approval, including the approval of the TSX Venture Exchange.

5.2 Disclosure for Restructuring Transactions

Not applicable.

Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

Item 7. Omitted Information

Not applicable

Item 8. Executive Officer

For further information, please contact Nikolaos Cacos at (604) 687-1828 .

Item 9. Date of Report

July 10, 2023