Calypso Uranium Corp.
TSX VENTURE : CLP

Calypso Uranium Corp.

October 23, 2007 08:00 ET

Calypso Uranium Corp. Announces Option Grant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2007) -

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

Calypso Uranium Corp. (formerly Calypso Acquisition Corp.) (TSX VENTURE:CLP) (the "Company") announces that it has granted incentive stock options to certain consultants and employees to purchase up to 125,000 common shares in the capital stock of the Company at an exercise price of $0.80 per share for a term of five years.

Calypso is an uranium exploration and development company with over 450,000 hectares of highly prospective uranium properties known as the Huemel, Campesino Norte, La Pintada, Rahueco and Central Block located in four regions of Argentina. Calypso has a fully staffed exploration office located in Mendoza, Argentina.

CALYPSO ACQUISITION CORP.

Roney Long, President

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: 50,130,819

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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