Cypress Development Corp.
TSX VENTURE : CYP

Cypress Development Corp.

December 04, 2007 11:26 ET

Cypress Development Corp.: Additional $705,000 Raised Through the Exercise of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2007) - Cypress Development Corp. (TSX VENTURE:CYP) announces that since the beginning of October 2007, the Company has raised an additional $705,000 through the exercise of 2,820,000 share purchase warrants. As a result of the various exercises, the Company now has 97,389,886 shares issued and outstanding and its fully diluted share capital is 116,135,508 shares.

The additional proceeds will be used for Cypress Development's ongoing drill program in Red Lake, northwestern Ontario and for general working capital.

Cypress Red Lake Drill Map: http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP-Picture5.jpg

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

James G. Pettit, Director

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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