Calypso Uranium Corp. reported consolidated unaudited earnings results for the third quarter and nine months ended July 31, 2009. For the quarter, the company reported a net loss and comprehensive loss CAD 442,020 or CAD 0.01 per basic and diluted share and loss before other items of CAD 340,622 compared to net loss and comprehensive loss CAD 797,705 or CAD 0.02 per basic and diluted share and loss before other items of CAD 299,555 in the same period a year ago. The cash used in operating activities for the quarter was CAD 481,320 compared to CAD 759,067 in the prior year period. The company invested CAD 284 for the purchase of equipment and CAD 11,121 for the exploration properties in the third quarter ended July 31, 2009 compared to CAD 11,629 for the purchase of equipment and CAD 203,241 for the exploration properties in the prior year period. For the nine months ended July 31, 2009, the company reported a net loss and comprehensive loss CAD 1,577,489 or CAD 0.03 per basic and diluted share and loss before other items of CAD 850,088 compared to net loss and comprehensive loss CAD 1,969,051 or CAD 0.04 per basic and diluted share and loss before other items of CAD 1,135,689 in the same period a year ago. The cash used in operating activities for the quarter was CAD 1,575,414 compared to CAD 1,872,981 in the prior year period. The company invested CAD 541 for the purchase of equipment and CAD 25,392 for the exploration properties in the nine months ended July 31, 2009 compared to CAD 17,200 for the purchase of equipment and CAD 229,497 for the exploration properties in the prior year period.

Calypso Uranium Corp. announced that the Declaration of Environmental Impact for the exploration phase of the Huemul Project, in Malarg?ounty, Mendoza Province, Argentina, was issued by the Directorates of Mining and of Environmental Protection for the Province of Mendoza, under Resolution Nos. 81 and 190 respectively, on July 30, 2009. The Declaration of Environmental Impact represents the approval of the exploration program presented by Calypso for the Huemul Project. Based on national and provincial regulations, the approval is founded on technical assessments by the Provincial Directorates of environment and of Mining, the National University of Cuyo, the Provincial Irrigation department and Malarg?ounty, and now must be sent to the Provincial Congress for ratification as provided by Article 3 of provincial law 7.722. Such ratification is a condition for the initiation of the Huemul Project exploration program. Located in Malarg?ounty, Mendoza Province, the Huemul Project consists of 20,673 hectares of mining properties covering an historic uranium producing district. The approved exploration program is focused on exploring a 2km-long mineralized corridor that includes the district's three underground past producing mines (the Huemul, Agua Botada and Arroyo Seco mines), as well as exploring the new Vega Larga and Black Zone sectors that were detected by an airborne radiometric survey in the southern portion of the district. Five of the seventeen targets identified in the district will be tested in this intensive initial exploration phase that includes a core diamond drill program of more than 6,000 metres.

Calypso Uranium Corp. reported unaudited consolidated earnings results for the second quarter and six months ended April 30, 2009. For the quarter, the company reported a net loss and comprehensive loss CAD 694,489 or CAD 0.01 per basic and diluted share and loss before other items of CAD 269,241 compared to net loss and comprehensive loss CAD 632,522 or CAD 0.01 per basic and diluted share and loss before other items of CAD 443,542 in the same period a year ago. The cash used in operating activities for the quarter was CAD 559,910 compared to CAD 525,468 in the prior year period. The company invested CAD 133 for the purchase of equipment in the second quarter ended April 30, 2009 compared to CAD 3,418 for the purchase of equipment and CAD 4,516 for the exploration properties in the prior year period. For the six months ended April 30, 2009, the company reported a net loss and comprehensive loss CAD 1,135,469 or CAD 0.02 per basic and diluted share and loss before other items of CAD 509,466 compared to net loss and comprehensive loss CAD 1,171,346 or CAD 0.02 per basic and diluted share and loss before other items of CAD 836,134 in the same period a year ago. The cash used in operating activities for the quarter was CAD 1,094,094 compared to CAD 1,113,914 in the prior year period. The company invested CAD 257 for the purchase of equipment and CAD 14,271 for the exploration properties in the six months ended April 30, 2009 compared to CAD 5,571 for the purchase of equipment and CAD 26,256 for the exploration properties in the prior year period.