VANCOUVER, British Columbia, May 4, 2006 (PRIMEZONE) -- Cypress Development Corp. (TSX-V:CYP) and Bison Gold Exploration Inc. (TSX-V:BGEI) are pleased to announce that the companies will commence a Phase 1 2006 spring / summer exploration and drill program on their 73.13% (Cypress) and 26.87% (Bison) owned Gunman Project located in White Pine County, NE Nevada. The 2006 Gunman exploration and drill program are designed to expand Cypress Development's high-grade zinc oxide deposit and evaluate, for the first time, the known deeper "zinc sulfide" mineralization.
Location map: http://www.cypressdevelopmentcorp.com/i/Maps/nevada.gif
To date, the companies have outlined an estimated 400,000 tons of zinc oxide mineralization with an average grade of 9.0% zinc oxide and 79 grams per tonne silver over significant widths within the Gunman RH Zone.
The spectacular nature of the Gunman RH Zone ZINC OXIDE, ZINC SULFIDE, & SILVER mineralization encountered to date is partially illustrated below.
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grams/
Hole tonne
ID from to width Silver % Zinc
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GM-01 115 ft 215 ft 100 ft 34 gm/t 4.91% oxide
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Incl 165 ft 195 ft 30 ft 121 gm/t 19.62% oxide
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GM-01 355 ft 385 ft 30 ft 83 gm/t 10.03% "sulfide"
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Incl 355 ft 375 ft 20 ft 121 gm/t 15.20% "sulfide"
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Gm-09 120 ft 345 ft 225 ft 32 gm/t 4.01% oxide
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Incl 175 ft 190 ft 15 ft 81 gm/t 14.67% oxide
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GM-09 220 ft 330 ft 110 ft 30 gm/t 4.00% "sulfide"
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Incl 240 ft 280 ft 40 ft 50 gm/t 8.10% "sulfide"
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GM-26 0 ft 250 ft 250 ft 89 gm/t 11.04% oxide
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Inc 130 ft 205 ft 75 ft 242 gm/t 26.88% oxide
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Inc 175 ft 180 ft 5 ft 510 gm/t 33.45% oxide
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Inc 190 ft 200 ft 10 ft 439 gm/t 29.34% oxide
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Click below for other high-grade Gunman zinc oxide / silver results: http://www.cypressdevelopmentcorp.com/i/Maps/holes.gif
Cypress Development proposes to complete a detailed geophysical program to further define the parametres of the RH Zone. The Company will also undertake a Hyper Spectral imagery program to help delineate other high-grade RH style zinc oxide zones for future drill programs in the immediate area of the RH Zone. In addition to further exploration for oxide mineralization in the belt, a program is planned to evaluate the "zinc sulfide" mineralization known to exist below the oxide RH Zone.
Cypress Development believes that the presence of a significant strike length (over 2 km) of altered silty limestone on the Gunman property provides the framework within which to explore for additional zinc ore. A high potential for the existence of additional RH size and grade mineralized zones is interpreted for this alteration / mineralization zone.
Reverse Circulation (RC) drilling by Cypress Development in 2000 / 2001 discovered a "zinc sulfide" zone underlying the RH Zone zinc oxide mineralization. Two holes (No. GM 01 and No. GM 09) encountered "zinc sulfides" in significant widths below the oxidized zone. The sulfides were mainly of sphalerite and pyrite. "High grade sulfides" in Hole No. GM 01 was seen from 355 feet to 375 feet with an average grade of 15.2% zinc over the 20 foot intersection along with 122 grams of silver per tonne over the same 20 feet. Hole No. GM 09 intersected the sulfide zone from 220 feet to 330 feet with assays averaging 4% zinc over the entire 110 feet. "High-grade zinc sulfide" and silver values of 8.1% zinc and 50 grams of silver per tonne are reported from 240 feet to 280 feet in Hole No. GM 09.
In the 2 previous drill programs (2001, 2004) conducted by Cypress Development on the Gunman high-grade zinc discovery, the Company focused solely on delineating the ZINC OXIDE deposit from surface to a depth of 250 feet. The intent was always to be able to prove enough tonnage of high-grade zinc oxide / silver ore to be able to create an open pit / heap leach environment for production.
The Company has established that the oxidized zinc mineralization is amenable to a heap leaching process, lending credence to an inexpensive means of production. However, the past 2 drill programs were conducted when the price of zinc sold at .35 (US) cents to .50 (U.S.) cents per pound. Cypress believes that with today's zinc prices being over the $1.40 (U.S.) per pound range, the Gunman property warrants a very serious and concerted exploration effort in the attempt to increase the size of the known Zinc Oxide and Zinc Sulfide zones. The next round of drilling will certainly take into account the "ZINC SULFIDES" and holes will be drilled deeper to encounter the sulfides.
Work permits have been applied for with the Bureau of Land Management (BLM) in Nevada. The Company has proposed a Phase 1 2006 drill program of 12 holes with a combined total of approximately 10,000 feet.
The Company's 43 - 101 Report filed on SEDAR in 2004 titled "Gunman Project 2004 Phase I Exploration Results and Phase II Recommendations" contains drilling and exploration target recommendations based on previous work programs carried out by Cypress Development.
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 precious and base metal exploration company developing 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 the Company's 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.