Calypso Uranium Corp. is a mineral exploration company whose principal focus is the exploration and development of uranium properties in Argentina and recently in the United States.

Argentina -- Energía Mineral (Inc.) S.A.

Calypso Uranium is active in Argentina with large highly prospective uranium properties located in the provinces of Chubut, Mendoza and Neuquén. The Company is among the best positioned in Argentina to move from exploration to production given that several of the properties include resources previously confirmed by the Comisión Nacional de Energía Atómica (CNEA -- the Argentine national atomic energy commission).

Through our local subsidiary Energía Mineral (Inc.), Calypso has a fully staffed exploration office located in Mendoza working closely with local communities while operating to the highest national and international safety and environmental standards. To promote transparency and to build awareness and public understanding of uranium exploration, all our environmental impact reports (available by individual project) and our "Radiological Safety and Protection Guide for Uranium Exploration" are posted on our website.

Calypso now controls more than 447,000 hectares or 4,470km2 of claims and mineral concession lands in Argentina. In Mendoza Province, the Company controls the Pampa Amarilla uranium district, including past uranium producers Huemul, Arroyo Seco and Agua Botada. Also in Mendoza, the Company has the La Pintada and Ranquil-Co projects in the uranium-producing Sierra Pintada district (currently in "stand-by") and with uranium resources drilled by CNEA. In Neuquén Province these include the Central Block Project, including the uranium districts of Chihuidos and Las Carceles; and the Campesino Norte Project, with uranium-copper-vanadium Uravan Mineral type mineralization. Central Block is the largest holding and represents the first uranium in situ recovery ("ISR") potential project being explored in Argentina. In Chubut Provinces, the projects are concentrated in the uraniferous San Jorge Basin, where the Cerro Solo deposit with geological resources of 12,207 tonnes is located.

United States -- Sage Creek Minerals Inc.

While maintaining our principal focus on the development of our Argentine uranium projects, in June 2008, Calypso launched our activity in the United States by entering into an option agreement with EM International Inc. ("EMI") to acquire a 50% interest in the Sage Creek claims, in Converse County, Wyoming. The Sage Creek claims are being operated by Sage Creek Minerals Inc., Calypso's wholly owned U.S. subsidiary.

The Sage Creek Claims Project include approximately 390 unpatented lode mining mineral claims with in situ recovery ("ISR") potential in the prolific southern Powder River Basin, in Converse County, Wyoming. The Sage Creek Project is located next to the largest uranium production facility in the USA, Cameco's Smith Ranch-Highland mine, with proven and probable reserves for 12 million pounds U3O8 and actively operating using ISR technology.