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Cypress Development Corp.

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Cypress Development Corp.
Suite 1610 - 777 Dunsmuir Street
Vancouver, British Columbia  V7Y 1K4

TSX Venture Trading Symbol: CYP
Telephone: (604) 687-3376
Facsimile: (604) 687-3119



November 24, 2004
Correction to Flow-Through Private Placement

The Company announces a correction to its news release dated November 19, 2004. The Company's 3,000,000 Flow-Through Units at a price of $0.10 per unit will consist of one flow-through share and one share purchase warrant entitling the holder to purchase a non-flow-through share at a price of $0.12 for a period of one year.

Cypress Development Corp. is a diversified precious and base metal exploration and development company with a gold property in Red Lake, Ontario Canada, and 2 gold properties and a zinc property in Nevada, U.S.A. The Company also holds an 11.4% interest in a company called South Voisey Bay Nickel Co. Ltd.


"Donald C. Huston"


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.

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

You can view the Next News Releases item: Fri Dec 17, 2004, Cypress Updates Exploration On Scorpion and Gunman Projects, Nevada

You can view the Previous News Releases item: Fri Nov 19, 2004, Non-Brokered Private Placement Announced

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