Blue Sky Resources Ltd. agreed to acquire 25% stake in Red Earth Assets in Alberta, Canada from Xstate Energy Limited for $2.7 million on February 26, 2024. The Agreement is subject to the Company receiving shareholder approval. The transaction is subject to anticipated closing Date of March 29, 2024. On May 10, 2024, Xstate Resources Limited received third tranche payment of $1 million, The final tranche payment of $1.327273 million ) is due to be received on July 8, 2024, being 60 days after this third tranche payment. This release was approved by the Board of the Xstate Resources Limited.

Blue Sky Resources Ltd. completed the acquisition of 25% stake in Red Earth Assets in Alberta, Canada from Xstate Energy Limited on July 8, 2024.