Blue Sky Uranium Corp. — Capital/Financing Update 2024

Sep 10, 2024

Form 51-102F3 MATERIAL CHANGE REPORT

Item 1. Name and Address of Reporting Issuer

Blue Sky Uranium Corp. (the “ Company ” or “ Blue Sky ”) Suite 411, 837 West Hastings Street Vancouver BC V6C 3N6

Item 2. Date of Material Change

September 5, 2024

Item 3. News Release

News Release dated September 5, 2024 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 Closes Fully-Subscribed Non-Brokered Private Placement

Item 5. Full Description of Material Change

5.1 Full Description of Material Change

The Company announced that it closed the fully-subscribed private placement announced on August 14, August 26 and August 28, 2024 through the issuance of 21,000,000 units of the Company (each, a “ Unit ”) at a price of $0.05 per Unit for aggregate gross proceeds of $1,050,000 (the “ Offering ”).

Each Unit consists of one common share and one transferrable common share purchase warrant (a “ Warrant ”). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.05 per share for four (4) years from the date of issue.

Finder’s fees of $47,202.40 were paid in cash on a portion of the Offering to parties at arm’s length to the Company (the “ Finders ”). In addition, the Company is also issuing 944,048 nontransferable finder’s warrants (the “ Finder’s Warrants ”) to the Finders. Each Finder’s Warrant entitles the holder thereof to purchase one common share at a price of $0.05 per share for four (4) years from the date of issue, expiring on September 5, 2028.

There is an offering document relating to the Offering that has been amended to reflect the change in pricing of the Offering, which can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.blueskyuranium.com. Prospective investors should read this offering document before making an investment decision.

Certain insiders of the Company have participated in the Private Placement for $20,000 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company’s market capitalization.

The proceeds of the financing will be used for for exploration programs including the recently acquired in-situ recovery uranium 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”).

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

September 10, 2024