Calypso Acquisition Corp.
TSX VENTURE : CLP

Calypso Acquisition Corp.

November 28, 2006 11:46 ET

Calypso Subsidiary Completes Branch Registration in Argentina and Continues With Property Acqusitions

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) - Mr. Roney Long, President of Calypso Acquisition Corp. ("Calypso") (TSX VENTURE CLP) is pleased to announce that it's wholly-owned Cayman Island subsidiary, Energia Development Corp. ("Energia"), has completed the process of registration as a branch under Argentine laws. As a result, documents placed in trust on closing of the acquisition of the 95% interest in Energia Mineral S.A. ("EMSA") have now been released. Energia now holds 95% of the shares of EMSA and the vendors of the EMSA shares have received the 4,600,000 shares of the Company that were issued in consideration for the acquisition. Energia and EMSA will now proceed with a tax free reorganization which will result in Energia holding 100% of the assets of EMSA.

Additionally, Calypso is pleased to announce that EMSA continues with an aggressive data collection and exploration program, both on other land holdings and on new exploration target areas in Argentina. Calypso now controls more than 300,000 hectares of claims and mineral concession lands in Argentina. EMSA is also working diligently on environmental reviews and interaction with the local community as part of the Social License effort, which is the process of familiarizing the local community with the benefits and safeguards of mining activities. EMSA has now completed its Argentine staffing, with the addition of a uranium-experienced geophysicist, and field equipment acquisitions and is a fully functional exploration group.

Calypso is an uranium exploration and development company with large highly prospective uranium properties known as the Huemel, Campesino Norte, La Pintada, and Central Block located in four regions of Argentina. Calypso has a fully staffed exploration office located in Mendoza, Argentina and is well funded to complete planned acquisition, exploration, and drilling programs over the next 12 months.

Information in this news release that is of a scientific or technical nature has been reviewed and approved by Steve Jones, a Registered Professional Geologist and a "qualified person" under NI 43-101, who has visited all of the discussed projects and reviewed all of the referenced data. A general description of the geology, reference maps, and other data is contained in a Technical Report prepared by Anthony Adkins filed under Calypso's profile at www.sedar.com.

Shares Outstanding: 33,614,108


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

Contact Information

  • Calypso Acquisition Corp.
    Stephen Barley
    Director
    (604) 926-4300