Mr. Don Huston reports

CYPRESS DEVELOPMENT COMMENCES GEOPHYSICAL WORK PROGRAM ON TWENTY-ONE SILVER-GOLD CLAIMS, NEVADA

Cypress Development Corp. has commenced a geophysical work program on its 420-acre Twenty-One silver-gold claims located in Mineral county, west-central Nevada. A grid has now been established on the Twenty-One claim group and a detailed magnetometer survey consisting of approximately 25 line miles to 30 line miles is in progress at this time.

A Twenty One silver-gold project location map is available at the company's website.

The detailed magnetic data being collected will enhance known drill targets on the Twenty-One property. Further mapping and rock sampling will also be carried out at this time. The company anticipates a reverse circulation drill program of approximately 1,500 metres to 2,000 metres to follow compilation of data from the current program in February.

This survey will add specific geophysical information for the detailed targeting of magnetite alteration within carbonate host rocks. The carbonate rocks lie below a silicified and brecciated cap unit which is cut by a series of parallel quartz veins containing very high-grade silver-lead-gold mineralization.

The only exploration on the property to date consists of a series of historic pits and shafts, and recent surface sampling by Cypress. Grab samples of the exposed vein material of exposed quartz breccia veins have returned assay values from 211 grams per tonne (6.5 ounces) silver to 1,141 grams per tonne (34.5 ounces) silver and up to two grams per tonne gold. The silver mineralization is accompanied by very high lead values as well as arsenic, zinc, bismuth and tellurium. Andesitic and rhyolite sills, plugs and dikes occur on the Twenty-One silver-gold property.

The targets of the Cypress exploration program are silver-gold-rich base-metal-bearing carbonate-replacement deposits and/or skarn-type mineralization hosted within Triassic-age carbonate rocks. The property covers the contiguous east-northeast extension of silver and gold mineralization mined at the Mindora deposit. It is further reported that molybdenum mineralization within felsic intrusive rocks was encountered in deeper holes drilled at Mindora.

The Twenty-One property lies along a northeast-trending corridor which contains both pre-Tertiary silver and base metal mineralization as well as Tertiary-age gold-silver mineralization. Significant production has occurred at the Santa Fe mine located 15 miles northeast of the Twenty-One property. Advanced exploration for porphyry molybdenum and copper has occurred between Cypress's Twenty-One and the Santa Fe properties.

A Twenty One silver-gold project production trend map is available at the company's website.

The overall geologic setting and known mineralization along this underexplored mineral trend bear close resemblance to the setting of the productive area around the Coeur Rochester-Relief Canyon area east of Lovelock, Nev. Other highly favourable characteristics at the Twenty-One property include the known existence of a large area of very shallow pediment gravel cover over potentially mineralized rocks and the known presence of an area containing a silver-mineralized jasperoid subcrop located 1,500 feet north of the exposed silver-lead-gold-bearing quartz veins. In summary, the Twenty-One property presents a large target area similar to those explored during the great shallow oxide mineralization exploration boom in Nevada in the 1980s.

The Twenty-One silver-gold project is located in Mineral county, approximately 100 miles southeast of Carson City, Nevada. The property sits three miles south of the pavement of United States Highway 95. Access to the property is by dirt track roads. The Twenty-One silver-gold project consists of two blocks of lode claims centred on an area of outcropping. High-voltage power lines run along Highway 95, providing excellent infrastructure to the project area.

Robert Marvin, PGeo, CPG, exploration manager for Cypress Development, the qualified person as defined by National Instrument 43-101, is supervising both the project fieldwork and the preparation of the technical information in this release.

We seek Safe Harbor.