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

Email: info@cypressdevelopmentcorp.com
TSX Venture Trading Symbol: CYP
Telephone: (604) 687-3376
Facsimile: (604) 687-3119



 Fri Dec 8, 2006
Flow-Through Private Placement Closes

 Vancouver, BC - Cypress Development Corp. (TSX.V: CYP) (the Company) announces that it has issued 4,000,000 flow-through Units at a price of $0.20 per unit pursuant to a private placement announced October 20 and 24th, 2006. Each flow-through unit consists of one flow-through common share and one share purchase warrant entitling the holder to purchase one non flow-through common share at a price of $0.25 per share until November 29, 2007.

As a finder's fee in connection with the transaction, the Company has issued a further 247,500 units, each consisting of one common share and one share purchase warrant, having the same terms and conditions as the warrants referred to in the foregoing.

The flow-through common shares and warrants issued under the private placement and any shares issued pursuant to the exercise of shares purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring March 31, 2007.

The following pros and insiders participated in the private placement Ted Dusyk (P), Donald C. Huston (I).

Cypress Development Corp. is a precious and base metal exploration company developing 2 gold projects in Red Lake, Ontario, Canada, and 2 gold projects, a silver/copper project, and a zinc project in Nevada, U.S.A.

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.
 
 

You can view the Next News Releases item: Mon Dec 11, 2006, Summer Program Results from Drilling on the Broulan Reef, Red Lake, Ontario

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