IMA Exploration acquires 5.58 million Blue Sky units

Also News Release (C-BSK) Blue Sky Uranium Corp
Mr. Joseph Grosso of IMA Exploration reports

IMA FILES EARLY WARNING REPORT

On Oct. 29, 2008, IMA Exploration Inc. acquired 5,583,333 units of Blue Sky Uranium Corp., which constitutes approximately 15 per cent of the issued and outstanding common shares of the company.

http://www.blueskyuranium.com/

Each unit consists of one common share and one common share purchase warrant and each warrant will entitle IMA to purchase one additional share of the company for a period of two years from the date of closing at an exercise price of 18 cents per share during the first year and 20 cents per share during the second year.

IMA now has ownership and control over a total of 8,333,333 shares of the company which represents approximately 22 per cent of the issued and outstanding shares of the company.

Assuming the exercise of warrants held by the IMA, IMA will own approximately 36 per cent of the partially diluted shares of the company.

The units were acquired pursuant to a private placement at 12 cents per unit for a total price of $669,999. The units were acquired to effect a change of control in the company.

IMA may increase or decrease its ownership of the company's securities depending on future economic or market conditions and has the right to maintain its percentage interest through proportionate investments in future financings. IMA is relying on the accredited investors' exemption pursuant to Section 2.3 of National Instrument 45-106 for the purchase of the units.

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