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Dante Exum could still return this NBA season and feature in the Olympics later this year after reports that he will miss up to two months with a calf injury.

Dante Exum could still feature for Cleveland this NBA season and at the Olympics for the medal-hunting Boomers with reports that he'll miss between one and two months with a calf injury.

The Australian former No.5 draft pick's horror injury run continued on Tuesday (AEDT) when he fell and clutched at his lower right leg in the first minute against the Orlando Magic.

Initial fears were that Exum had suffered an Achilles tear that would have ruled him out of the NBA season and July's Olympics in Toyko, where Australia fancy their chances of claiming a maiden international medal.

Instead on Wednesday The Athletic's Shams Charania confirmed the Cavaliers' initial diagnosis of a less-severe calf strain, reporting that Exum is "expected to miss one-to-two months".

The 25-year-old Exum was tradd by the Utah Jazz late in 2019 after five injury-hit years and quickly established himself as a starter or first-choice bench option for Cavaliers coach J.B. Bickerstaff.

The athletic guard had also been used as a small forward by Bickerstaff this season, with Exum's talents as a defensive specialist on show when he locked down All-Star Trae Young in a win days before his latest injury.

Exum missed the Boomers' World Cup campaign last year through injury, where Patty Mills led Australia to fourth place.

Intent on winning the Boomers' first international medal, Mills and Toronto Raptors big man Aron Baynes have both indicated they will prioritise this year's Olympics campaign despite it falling directly after this season's NBA Finals.