Cypress Development Corp.

Cypress Development Corp.

January 05, 2005 09:34 ET

Cypress Development Corp.: Planned Drilling on McKenzie Island Property Expanded, Red Lake, Ontario


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CYPRESS DEVELOPMENT CORP.

TSX VENTURE SYMBOL: CYP

JANUARY 5, 2005 - 09:34 ET

Cypress Development Corp.: Planned Drilling on
McKenzie Island Property Expanded, Red Lake, Ontario

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 5, 2005) - Cypress
Development Corp. (TSX VENTURE:CYP) (the Company) announces that
drilling will begin mid January 2005 on its 5,100 acres Red Lake
McKenzie Island property jointly held by Cypress Development Corp. (CYP
80%) and Skyharbour Resources Ltd. (SYH 20%).

The expanded program will entail drilling on two distinct regions of the
property.

See Map: http://www.cypressdevelopmentcorp.com/images/maps/mckenzie.gif

First, the Company will drill approx. 2,500 metres on the southern
portion of its McKenzie Island property known as the St. Paul's Bay
region. This section of the property is on strike and adjacent to the
west of a major drill program currently underway on the Sabina Resources
/ Wolfden Resources Newman-Madsen property where initial results have
discovered a new gold zone; 18.21 g/tonne gold (0.53 oz Au/ton) over
3.65m.

Second, Cypress Development will drill approx. 1,500 metres on the
northeastern portion of its McKenzie Island property. This section is
west and adjacent to a major drill program to begin January 15th on the
Southern Star / Exall Resources Gold Eagle property (see their news
release Dec. 21, 2004) where an initial resource of 165,000 oz of gold
at 16.67 g/tonne has been defined. The Company believes that the
granodiorite structure that is being methodically drilled by Southern
Star / Exall Resources has the potential to continue to extend to the
west onto the Cypress / Skyharbour property.

Cypress Development Corp. is a diversified precious and base metal
exploration and development company with 3 projects in Nevada, U.S.A.
and a project in Red Lake, Ontario, Canada. The Company also holds an
11.4% interest in a company called South Voisey Bay Nickel Co. Ltd.

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


ON BEHALF OF THE BOARD OF DIRECTORS


DONALD C. HUSTON

President


This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of historical
fact, included herein are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with the British Columbia
Securities Commission and the United States Securities & Exchange
Commission.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Cypress Development Corp.
    Donald C. Huston
    President
    (604) 687-3376 or Toll Free: (800) 567-8181
    (604) 687-3119 (FAX)
    or
    Cypress Development Corp.
    Don Myers
    Corporate Communications
    (604) 687-3376 or Toll Free: (800) 567-8181
    (604) 687-3119 (FAX)
    Email: info@cypressdevelopmentcorp.com
    Website: www.cypressdevelopmentcorp.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the content of this news
    release.