Cypress Development Corp.

Welcome To The Cypress Development HUB On AGORACOM Cypress Development Corp. is a Canadian gold and base metal exploration company developing projects in Red Lake, Ontario, Canada, and in Nevada, U.S.A.

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Press Release Jan 8th

over 16 years ago

Cypress Development Corp.: Drilling Resumes on Broulan Reef Gold Project, Red Lake, NW Ontario

08 Jan 2008 08:01 ET MarketwireCypress Development Corp.January 8, 2008 - 08:01:04 AMCypress Development Corp.: Drilling Resumes on Broulan Reef Gold Project, RedLake, NW OntarioVANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2008) - Cypress DevelopmentCorp. (TSX VENTURE:CYP) today announced that drilling has resumed on itsBroulan Reef property located in the heart of the gold mining district of RedLake, northwestern Ontario.Cabo Drilling has remobilized its drill crew to the Broulan Reef project andwill now continue to deepen the diamond drill hole BR 07-1 to approximately2,400 metres from its current depth of 750 metres. Cypress will attempt tocomplete the BR 07-1 "mother hole" within the next several weeks. The Companywill then "wedge" several holes off the main initial drill hole. Cypressanticipates the Cabo drill rig to be on the property throughout 2008. TheCompany continues to be well funded and able to meet all its obligations andwork commitments for the upcoming year.BR 07-1 is designed to intersect the Balmer assemblage rock types that arehost to the Bruce Channel and Finn gold zones as reported in the latest GoldEagle Mines Ltd (GEA) news releases. The GEA Bruce Channel project adjoins theBroulan Reef project immediately to the north, and is on strike geologically.The other boundaries being the east, south, west sides of the Broulan Reefproperty are abutting Goldcorp (G) claims. Goldcorp continues to carry out amajor drill program to the immediate east of the Broulan Reef property withits partner Premier Gold on their Rahill Bonanza project.A map of the Broulan Reef Project can be accessed through the following link:http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP-Broulan-Reef-New-Map.jpg"This is an important step forward in the ongoing development of the BroulanReef project," said Donald Huston, President of Cypress Development. "Webelieve there is an opportunity to encounter the extension of the Gold EagleMines deposit being delineated under the Bruce Channel. There is every reasonto believe that the mineralized zone being delineated on the Gold Eagleproperty continues beyond the Broulan Reef north boundary".Cypress anticipates the drilling of a second mother hole with severaldiverging holes to be wedged off both main holes. The Company intends to drillup to 10,000 metres with this Phase 1 deep drill program. A budget of $2.5million dollars is in place for the completion of this Phase 1 deeppenetration drill program on the Broulan Reef gold claims.Proposed Broulan Reef Drill Hole Map:http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP-Picture5.jpgThe target for the 2008 deep drill program is the Balmer assemblage rocksunderlying the Bruce Channel sediments, as established during the drillprogram conducted on the Broulan Reef project in the summer and autumn of2006. Dips within the Bruce Channel rocks on the west limb of the broad nosefold are approximately 45 degrees to the west. The shallow dippingunconformity has very significant implications for the Broulan Reef property.With known points of elevations of the Balmer assemblage surface, it isprojected that this rock type horizon will be at an inferred vertical depth ofbetween 900 metres on the eastern edge of the property and 2000 metres on thewestern part of the property. At these depths, targets in the Balmerassemblage rocks are within explorable and exploitable range over most of theproperty.New Red Lake Gold Deposits Map:http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP-Picture2.jpgAbout Cypress Development Corp.Cypress Development Corp. is a diversified precious and base metal explorationand development company with properties in Red Lake, Ontario, Canada, and inNevada, U.S.A.To find out more about Cypress Development Corp. (TSX-V: CYP), visit ourwebsite at www.cypressdevelopmentcorp.com.ON BEHALF OF THE BOARD OF DIRECTORSDonald C. Huston, PresidentThis news release contains certain "Forward-Looking Statements" within themeaning of Section 21E of the United States Securities Exchange Act of 1934,as amended. All statements, other than statements of historical fact, includedherein are forward-looking statements that involve various risks anduncertainties. There can be no assurance that such statements will prove to beaccurate, and actual results and future events could differ materially fromthose anticipated in such statements. Important factors that could causeactual results to differ materially from the Company's expectations aredisclosed in the Company's documents filed from time to time with the BritishColumbia Securities Commission and the United States Securities & ExchangeCommission.FOR FURTHER INFORMATION PLEASE CONTACT: Cypress Development Corp. Don Huston President (604) 687-3376 or Toll Free:1-800-567-8181 Cypress Development Corp. Don Myers Director (604) 687-3376 or Toll Free:1-800-567-8181 (604) 687-3119 (FAX) Email: info@cypressdevelopmentcorp.comWebsite: www.cypressdevelopmentcorp.com The TSX Venture Exchange has not reviewed and does not accept responsibilityfor the adequacy or accuracy of the content of this news release.