SOURCE: Cypress Development Corp.

April 17, 2007 14:31 ET

Drill Program Begins on Gunman Zinc Project in Nevada

VANCOUVER, BC -- (MARKET WIRE) -- April 17, 2007 -- Cypress Development Corp. (TSX-V: CYP) announces that a diamond drill program on the Cypress (73.13%) / Bison Gold Exploration (26.87%) owned Gunman zinc project located in White Pine County, northeast Nevada has commenced. The program will consist of up to 12,000 feet of diamond drilling in Phase 1 2007.

Cypress Development, as operator, completed a Titan electric survey, followed by a detailed gravity survey in late 2006. Both surveys were centered on the high-grade zinc-silver oxide/sulfide RH Zone area and extended a total of 1.2 miles to cover the known alteration / mineralization in the host carbonate section within the RH Trend. The survey was designed to map conductive bodies beneath and lateral to the strongly oxidized RH Zone deposit. A series of strong discrete conductors are apparent along the RH Trend. Detailed geologic control from surface mapping indicates that these conductors occur within north-south striking RH Zone carbonate stratigraphy.

The Gunman RH Zone zinc oxide, sulfide, & silver mineralization highlights encountered to date are partially illustrated below.


+-------------------------------------------------------------------+
| Hole ID |  From  |  To   | Width  | % Zinc | Silver |  In Oxides  |
|         |        |       |        |        | oz/ton | or Sulfides |
|---------+--------+-------+--------+--------+--------+-------------|
|  GM-01  | 115 ft |  215  | 100 ft | 4.91%  | 1.1 oz |    oxide    |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  Incl   | 165 ft |  195  | 30 ft  | 19.62% | 3.5 oz |    oxide    |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  GM-01  | 355 ft |  385  | 30 ft  | 10.03% | 2.6 oz |   sulfide   |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  Incl   | 355 ft |  375  | 20 ft  | 15.20% | 3.5 oz |   sulfide   |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  Gm-09  | 120 ft |  345  | 225 ft | 4.01%  | 1.0 oz |    oxide    |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  Incl   | 175 ft |  190  | 15 ft  | 14.67% | 2.6 oz |    oxide    |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  GM-09  | 220 ft |  330  | 110 ft | 4.00%  | 1.0 oz |   sulfide   |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  Incl   | 240 ft |  280  | 40 ft  | 8.10%  | 1.5 oz |   sulfide   |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  GM-26  |  0 ft  |  250  | 250 ft | 11.04% | 2.7 oz |    oxide    |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|   Inc   | 130 ft |  205  | 75 ft  | 26.88% | 7.1 oz |    oxide    |
|         |        |  ft   |        |        |        |             |
|---------+--------+-------+--------+--------+--------+-------------|
|  GM-32  | 50 ft  |  170  | 120 ft | 9.10%  | 1.5 oz |    oxide    |
|         |        |  ft   |        |        |        |             |
+-------------------------------------------------------------------+



In addition to the RH Zone, at least 3 new targets were identified as having zinc oxide potential. A total of 5 targets were identified as having zinc sulfide potential. None of the targets have been drill tested and all but one of the targets is within 1000 feet of surface. All of these anomalies lie within the RH Trend. These anomalies could be the result of mineralization of a similar nature to that found at the RH Zone, however they lie considerably south of any known drill results. Cypress will diamond drill these conductors with a program starting at the end of March 2007. Of major significance is the size of all the potential targets in that all of the new targets are believed to be significantly larger than that of the RH Zone zinc-silver deposit.

Click here for location map and 3D Gunman property video: http://www.cypressdevelopmentcorp.com/s/Gunman.asp

The RH zinc-silver zone is contained in an area of approx. 260 feet by 150 feet and to a depth of approx. 110 feet. The combined presence of host rock, structure, surface and drill indicated zinc-silver mineralization and strong Titan conductive anomalies make the RH Trend targets a priority for the exploration of additional massive sulfide deposits on the Gunman project in Nevada.

David J. Busch, B.A., B.Sc., PGeo., Vice President of Explorations, is the qualified person under the meaning of National Instrument 43-101, and has reviewed the data in this News Release.

Cypress Development Corp. is a diversified precious and base metal exploration and development company with 2 gold properties in Red Lake, Ontario, Canada, and 2 gold properties, a silver-copper property and a zinc property in Nevada, U.S.A.

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

"Don Huston"

DONALD C. HUSTON President

For further information contact myself or: Don Myers Cypress Development Corp. Director Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@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.

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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