Cypress Hills Resource Corp.
TSX VENTURE : CHS

Cypress Hills Resource Corp.

November 28, 2006 18:48 ET

Cypress Hills Releases Q3 Results

CALGARY, ALBERTA--(CCNMatthews - Nov. 28, 2006) - CYPRESS HILLS RESOURCE CORP. (TSX VENTURE:CHS) ("Cypress Hills" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2006. The interim unaudited financial statements and Management Discussion and Analysis will be both filed on SEDAR at www.sedar.com and posted today on the Company's website at www.cypresshillsresource.com.

During the third quarter of 2006, the Company was determining the best possible stimulation program for the Cypress Hills Blue Star 604-1 test well in Maverick County, Texas and plans to begin frac operations on the 604-1 well prior to December 5, 2006. The Company has also chosen to return to Blue Star Oil & Gas Ltd. its southern 5,000 acre block under the previously announced Exploration Agreement and to reduce the well commitment thereunder from six wells to three and to focus the Company's attention on the 5,000 acre northern block and the identified Eagle Ford Shale zone.

Cypress Hills is a junior oil and gas company focused on drilling multi-zone crude oil and natural gas prospects in central Alberta and southwest Texas

Additional information on the Company and its projects can be viewed at www.sedar.com or www.cypresshillsresource.com.

CAUTIONARY STATEMENT:

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding reserves, present value of future cash flow, exploration results, and future plans and objectives of Cypress, 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 Cypress' expectations are exploration risks, production risks and pricing risks detailed herein and from time to time in other filings made by Cypress with securities regulators.


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

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