Cypress Development Corp.
TSX VENTURE : CYP

Cypress Development Corp.

October 16, 2007 13:22 ET

Cypress Development Corp.: Correction to Today's News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - Cypress Development Corp. (TSX VENTURE:CYP) clarifies that the News Release of October 16, 2007 is incorrect. The Company anticipates that drill results will be made available in a timely fashion as drilling progresses on its Broulan Reef Gold Project in Red Lake, Northwestern Ontario and not in the second half of 2008.

About Cypress Development Corp.

Cypress Development Corp. is a diversified precious and base metal exploration and development company with properties in Red Lake, Ontario, Canada, and in Nevada, U.S.A.

To find out more about Cypress Development Corp. (TSX VENTURE:CYP), visit our website at www.cypressdevelopmentcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

DONALD C. HUSTON, President

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

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