"Calypso has been advised the decision is in no way a reflection on Calypso, Energia Mineral, the Company’s personnel or projects but is fundamentally a strategic shift in the regions and projects where Cameco will focus their exploration efforts," Calypso said.
Cameco stated it will retain no interest in Energia Mineral or its properties.
Calypso Uranium Corporation president and CEO Stephen Barley said the company has accomplished a great deal in advancing its knowledge of the properties in the past two years of joint exploration with Cameco.
"We will now assess the most optimal approach for continuing our efforts on our large and highly prospective package of uranium projects in Argentina." Barley added.
"Calypso is evaluating new opportunities in the uranium and other resource sectors in multiple countries including Argentina in order to provide further diversity for our shareholders."
The company said it is well funded with over $4m in working capital to advance Argentine uranium projects.
Calypso operates more than 4,600km2 of claims and mineral concessions in the provinces of Chubut, Mendoza and Neuquén in Argentina.
