Company Overview

Calypso Uranium Corp. is dedicated to the exploration and development of mineral and energy projects with over 510,000 hectares or 5,100 km2 of highly prospective uranium properties in South America and the United States. Calypso is principally focussed on sandstone-type uranium deposits which are one of the most prolific forms of uranium deposits worldwide, and also continues to look for new opportunities in the mining and energy fields.

Current Calypso projects are located in high potential uranium areas in Argentina comprised of former mines or exploration areas and include an area with the potential of becoming one of Argentina's first possible in-situ recovery (ISR) projects. In September 2010, Calypso signed an Option Agreement with Cameco Global Exploration Ltd., a wholly-owned subsidiary of Cameco Corporation, one of the world's largest uranium producers, for a joint venture on the majority of Calypso's projects in Argentina. In the United States, Calypso's joint venture project is situated next to the largest producing uranium mine in the Americas.

Calypso has a first-rate management and exploration team that operates all the Company's projects. Through its wholly owned subsidiaries Energía Mineral, Pampa Amarilla and Sage Creek Minerals, Calypso is committed to working to the highest safety, environmental and ethical standards and to building broad community support. Calypso is well financed and has no debt.

ARGENTINA - Energía Mineral (Inc.) and Pampa Amarilla (Inc.)

Through its subsidiaries Energía Mineral and Pampa Amarilla, Calypso is active in Argentina with over 500,000 hectares or 5,000 km2 of 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 national atomic energy commission (CNEA).

The Option Agreement signed with Cameco in 2010 covered the majority of Calypso's projects in Argentina being led by Energia Mineral, with the exception of the Huemul Project in Mendoza Province. With the signing of that agreement, Calypso created Pampa Amarilla to focus on the Huemul Project and other potential opportunities for Calypso. Pampa Amarilla projects include past uranium producers Huemul, Arroyo Seco and Agua Botada in Mendoza Province.

Energia Mineral projects covered in the joint venture Option Agreement signed with Cameco include:

• Projects in the Sierra Pintada uranium district in Mendoza, where the country's largest uranium deposit and historically producing mine is located;
• Neuquen Basin projects, including Ranquil-Co in Mendoza, and the Campesino Norte and Central Block projects in Neuquen, with Central Block being the first potential ISR uranium project being explored in Argentina; and,
• Projects in Chubut concentrated in the uraniferous San Jorge Basin, where the 5000tU (RAR and inferred) Cerro Solo uranium deposit is located.

Working under the motto "Clean energy for a sustainable future", Energia Mineral's head office and exploration team are based in Mendoza. Energía Mineral developed the "Radiological Safety and Protection Guide to Uranium Exploration", unique in Argentina, and has an in-house geophysicist. Environmental impact reports are posted on the Calypso website for transparency, and website information is provided in both English and Spanish. The Company is committed to local sourcing of goods and services whenever feasible. Energía Mineral is a founding member of the Argentine Chamber of Uranium Companies (CADEU) and is a member of the provincial mining chambers in the provinces of Mendoza (CaMEM) and Neuquen (UPROMIN).

UNITED STATES - Sage Creek Minerals (Inc.)

While maintaining the principal focus on the development of its Argentine uranium projects, Calypso has earned a 50% interest in the Sage Creek Claims project in Converse County, Wyoming, through its wholly-owned US subsidiary Sage Creek Minerals (Inc.). The Sage Creek Claims are a joint venture with Earth Minerals International and are being operated by Sage Creek Minerals.

The Sage Creek Claims Project includes 403 unpatented lode mineral claims with ISR potential covering 2,773 hectares or 27.7km2 in the prolific southern Powder River Basin. The Project is located next to the largest uranium production facility in the Americas, which operates with ISR technology.