Blue Sky Uranium Corp. (TSX-V: BSK, FRA: MAL, WKN: A0MKXP, "Blue Sky" or the "Company") is pleased to announce it has closed the first tranche of the non-brokered private placement announced on October 31, 2011. The first tranche consists of aggregate gross proceeds of $135,000. The Company will issue 1,350,000 units at a price of $0.10 per unit in the first tranche.

Each unit will consist of one common share and one-half transferable common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at a price of $0.15 per share for eighteen (18) months from the date of issue.

Finders' fees of $2,100 are payable in cash in connection with the first tranche of the Private Placement. In addition, 21,100 finders' warrants have been issued, each finders' warrant entitling a finder to purchase one common share at a price of $0.15 per share for a period of 18 months, expiring on June 5, 2013.

The securities issued under this first tranche are subject to a four month hold period expiring April 7, 2012.

The proceeds from this financing will be used for further exploration and development of the Company's property portfolio in Argentina and for general working capital.

About Blue Sky Uranium Corp.

Blue Sky is one of Argentina's leading 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 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

"Normand Champigny"
___________________________________
Mr. Normand Champigny, President & COO

For further information please contact:

Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@blueskyuranium.com