CLP Calypso Uranium Corp.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES

CALYPSO URANIUM CORP. (TSX VENTURE:CLP) ("Calypso" or the "Company") - Calypso
President J. Stephen Barley is pleased to announce that the Declaration of
Environmental Impact for the exploration phase of the Huemul Project, in
Malargue County, 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 Malargue
County, 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.


"The issuance of the Declaration of Environmental Impact represents a
significant step towards initiating the Huemul Project exploration program,"
said Barley, also President of Energia Mineral Inc., Calypso's subsidiary with a
branch in Argentina. "This is excellent news for Calypso and for Energia
Mineral, and especially for the community of Malargue which is making such an
effort to diversify their economy and to reinforce the benefits from the mining
industry in that matrix," he added.


Located in Malargue County, 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.


Barley emphasized that "Malargue shows the potential to produce uranium again.
In such a scenario, the community would not only benefit directly from the
mining industry's requirements for jobs and services, but Malargue could
contribute to supplying Argentina's needs for the primary input in their nuclear
energy cycle, currently all of which is imported."


"We look forward to continuing our close cooperation with the community in
Malargue County and with others throughout Mendoza Province in order to be able
to start exploration work once the Declaration of Environmental Impact is
ratified," said Guillermo Pensado, Vice President of Calypso, and Exploration
Manager for Energia Mineral. Since its inception, Calypso Uranium has committed
itself to being a good neighbour in the communities where the Company is present
and to strengthening relationships with local people, institutions,
organizations and regional representatives to develop broad community support,
including, by way of example, regular presentations on the project to the
community of Malargue in order to provide avenues for engagement and to ensure
transparency in the information-sharing process.


The Environmental Impact Report for the Huemul Project, including a description
of the work to be undertaken during the exploration program, is available to the
public on the Company's website. A general description of the geology, reference
maps, and other data is contained in a Technical Report prepared by Anthony
Adkins, Certified Professional Geologist, dated June 23, 2006, filed under the
Company's profile at www.sedar.com. Further information is also available at our
website, www.calypsouranium.com.


Calypso Uranium Corp. is a mineral exploration company whose principal focus is
the exploration and development of uranium properties in Argentina and in the
United States. Calypso Uranium is active in Argentina with more than 447,000
hectares or 4,470km2 of claims and mineral concession lands in the provinces of
Chubut, Mendoza and Neuquen. Through the Argentine branch of our subsidiary
Energia Mineral Inc., Calypso has an 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 and our "Radiological Safety and Protection Guide
for Uranium Exploration" are posted on our website. While maintaining its
principal focus on the development of the Argentine uranium projects, in June
2008, Calypso entered into an option agreement to acquire an interest in the
Sage Creek properties located in Converse County, Wyoming. Calypso is
well-funded to advance all exploration projects and has the technical team and
management structure for this effort.


CALYPSO URANIUM CORP.

J. Stephen Barley, President & CEO

This news release may contain forward-looking statements based on assumptions
and judgments of management of the Company regarding future events or results.
Such statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ materially from those reflected in the
forward-looking statements. The Company disclaims any intention or obligation to
revise or update such statements except as may be required by law.


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