Blue Sky Uranium Corp. — Capital/Financing Update 2023

Jul 13, 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

July 12, 2023

Item 3. News Release

A News Release dated July 12, 2023 was 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 Increases and Closes 2[nd] and Final Tranche of Non-Brokered Private Placement

Item 5. Full Description of Material Change

5.1 Full Description of Material Change

The Company announced that it had closed the oversubscribed 2[nd] and final tranche of the nonbrokered private placement financing announced on June 8, 2023, consisting of 7,861,032 units in this tranche at a price of $0.075 per unit for gross proceeds of $589,577.40. In total the Company issued 21,333,333 units for total gross proceeds of $1,600,000.

Each unit consists of one common share and one transferrable common share purchase warrant (“Warrant”). Each Warrant in this 2[nd] and final tranche 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 July 12, 2026 in this 2[nd] and final tranche.

In this tranche, finder’s fees of $40,062.92 were paid in cash on a portion of the private placement to parties at arm’s length to the Company. In addition, 534,172 non-transferable finder’s warrants were issued (the “ Finder’s Warrant ”). Each Finder’s Warrant entitles a finder to purchase one common share at a price of $0.075 per share for three years from the date of issue, expiring on July 12, 2026. In total, cash finder’s fees of $84,636.82 were paid and 1,128,490 Finder’s Warrants were issued. The news release dated June 19, 2023 had an incorrect exercise price of $0.12 for the Finder’s Warrants. The correct exercise price is $0.075 for the Finder’s Warrants.

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

Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including but not limited to, the approval of the TSX Venture Exchange (the “Exchange”).

Further to a news release dated July 10, 2023 announcing the engagement of Investing News Network, the $32,400 for the services will be paid equally during the term of the agreement.

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 13, 2023