Mr. Brian Bayley reports

CYPRESS HILLS RESOURCE CORP. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND DEBT SETTLEMENT

Cypress Hills Resource Corp. has arranged a non-brokered private placement for total gross proceeds of up to $50,000. The private placement will consist of up to one million shares at a price of five cents per share. Proceeds of the private placement will be used for general corporate and working capital purposes.

The company also intends to settle outstanding debt in the amount of $15,750 by the issuance of 315,000 common shares of the company at five cents per share.

Closing of the private placement and debt settlement are subject to the receipt of all applicable regulatory and board approvals. All securities issued under the private placement and debt settlement will be subject to a hold period expiring four months and one day after issuance, in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws.