Blue Sky Uranium Corp. Share Capital Restructuring

(via Thenewswire.ca)

Blue Sky Uranium Corp. (TSX-V: BSK, FRA: MAL, WKN: AOMKXP) ("Blue
Sky" or the "Company") announces a proposed
consolidation of its share capital on the basis of one new common
share of the Company for every ten existing common shares. The share
consolidation is subject to approval by Blue Sky shareholders at the
upcoming special meeting to be held on Thursday, March 22, 2012, and
approval by the TSX Venture Exchange. Blue Sky currently has
87,019,896 common shares issued and outstanding. Post consolidation,
there will be approximately 8,701,989 common shares issued and
outstanding. Management believes that the consolidation is necessary
in order to provide the Company with a share capital structure that
will better attract capital financing and enhance future growth
opportunities.

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
grow 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 Memorandum of Understanding
("MOU") with AREVA Mines ("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
January 4th, 2012, press release for complete details).

Blue Sky 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

"Sean Hurd"

___________________________________

Mr. Sean Hurd, Chairman and CEO

For further information please contact:

Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058

Email: info@blueskyuranium.com

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.

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