CLP Calypso Uranium Corp.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

CALYPSO URANIUM CORP. (TSX VENTURE:CLP) ("Calypso" or the "Company") is pleased
to announce the Company and Earth Minerals International Inc. have amended their
option agreement dated June 18, 2008 and Calypso through its wholly owned US
subsidiary Sage Creek Minerals Inc. has now earned a 50% interest in 403
unpatented lode mineral claims with in situ recovery ("ISR") potential located
in Converse County, Wyoming known as the Sage Creek claims. The two companies
have entered into a joint venture agreement with Calypso being the initial
operator.


The Sage Creek claims are in the prolific southern Powder River Basin area of
the State of Wyoming. The Smith Ranch uranium ISR facility operated by Power
Resources Inc., a wholly owned subsidiary of Cameco Corporation, is immediately
adjacent to the east of the Sage Creek claims. The Smith Ranch ISR operation is
one of the largest uranium ISR fields in production in the world. Calypso and
its partner are now assessing the manner in which they will advance exploration
on the claims.


The Company re-elected Stephen Barley, Kurt Bordian, Robert Pendreigh, and Omar
Beretta as directors at the Shareholders Meeting held on August 26th.
Regrettably, Dr. Jon P. Thorson has determined to not stand for re-election due
to other business commitments, however the Company is very pleased Dr. Thorson
has agreed to remain as a technical advisor to the Company.


About Calypso

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 is active in Argentina with more than 470,257 hectares or
4,702km2 of claims and mineral concession lands in the provinces of Chubut,
Mendoza and Neuquen. Through the Argentine branch of its subsidiary Energia
Mineral Inc., the Company 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 of
Calypso's environmental impact reports and its "Radiological Safety and
Protection Guide for Uranium Exploration" are posted on its website. While
maintaining its principal focus on the development of the Argentine uranium
projects, Calypso has a 50% interest and is operator of 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. Further information is available at our website,
www.calypsouranium.com, or filed under the Company's profile at www.sedar.com.


CALYPSO URANIUM CORP.

Stephen Barley, President & CEO

This press release does not constitute an offer to purchase securities. The
securities to be offered in the offering have not been and will not be
registered under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold in the United States or to,
or for the benefit or account of, a U.S. person, except pursuant to an available
exemption from such registration requirements.


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.


Shares Outstanding: 50,630,819

Grafico Azioni Calypso Uranium Corp. (TSXV:CLP)
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