VANCOUVER, British Columbia, June 19, 2006 (PRIMEZONE) -- Cypress Development Corp. (TSX-V:CYP) is pleased to announce its summer drill program on the Company's 100% owned polymetallic (precious / base metal) Verde project located in Mineral County, western Nevada.
Cypress Development has contracted Drift Exploration Drilling from High River, Alberta to conduct a first phase Reverse Circulation (RC) drill program consisting of 2500 feet on the Company's Verde project. Drift Exploration has had RC drill rigs located in the State of Nevada for several years, and are well versed in all aspects of drilling in Nevada.
The drill rig is being mobilized to the Verde property June 19, 2006 and drilling will begin immediately. Cypress intends to complete 4 -5 initial exploratory holes on the poly-metallic carbonate skarn located on the property.
Robert Marvin, PGeo., Nevada, will be managing the Verde drill program on behalf of Cypress Development Corp.
The drilling will be centered on outcropping bonanza grade silver mineralization accompanied by multi-percent copper located within the widely mineralized Walker Lane structural belt in Mineral County, Nevada.
A detailed surface sampling program and stream sediment sampling was conducted on the property in November 2005. The samples were screened to a -80 mesh with a split then being assayed for gold (Au) and sliver (Ag) along with an ICP 32 element suite. Bonanza grade silver was encountered in the samples with assays received from ALS Chemex Laboratories ranging from 1640 ppm Ag to 6710 ppm Ag (47 oz / ton Ag to 195 oz / ton Ag), and was accompanied by multi-percent copper ranging from 3.13% Cu to 5.12% Cu.
The sampling also shows gram level gold, and abundant arsenic, bismuth, and mercury. The Company believes that the silver-copper-gold-bismuth-mercury signature of the Verde property is directly analogous to that of the poly-metallic carbonate skarn and intrusive hosted ore deposits which have been mined worldwide. Management is aware that strong geological / geochemical indications of a buried "causative intrusion" are present and significant upside is possible by drilling under the bonanza grade silver showings at the Verde project.
The vertical and horizontal extent of the structurally controlled, strongly mineralized outcrops has remained completely untested until now.
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
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.