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Cypress Development Corp.
Suite 2230 - 885 West Georgia Street
Vancouver, British Columbia V6C 3E8
| Email:
info@cypressdevelopmentcorp.com TSX Venture Trading Symbol: CYP |
Telephone: (604) 687-3376 Facsimile: (604) 687-3119 |
| Thu Feb 18, 2010 First Option Payment to earn 100% of Twenty-One Silver-Gold Project in Mineral County, Nevada | |
| Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (the "Company") announces that, further to its news release dated January 29, 2010, it has issued 50,000 common shares and paid the sum of $7,500 to Robert D. Marvin. The share issuance and cash payment were made in connection with a Property Option Agreement dated January 14, 2010 wherein the Company has been granted an option to earn a 100% interest in the Twenty-One Silver-Gold Project located in Mineral County, approximately 100 miles southeast of Carson City, Nevada. Twenty-One Silver-Gold Project, Nevada location map: http://www.cypressdevelopmentcorp.com/i/maps/21/Twenty-One-Silver-Gold-Production-Trend.jpg The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring June 11, 2010. In order to earn a 100% interest in the Property, the Company must make further cash payments of $15,000, issue an additional 100,000 common shares and incur $250,000 in exploration expenses over the three-year term of the Agreement. About Cypress Development Corp.: Cypress Development Corp. is a diversified precious and base metal exploration and development company with properties in Red Lake, Ontario, Canada, and 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 Director Cypress Development Corp. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@cypressdevelopmentcorp.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. | |
You can view the Next News Releases item: Mon Mar 8, 2010, Drilling Update on Broulan Reef Bruce Channel / Red Lake Gold Project You can view the Previous News Releases item: Fri Jan 29, 2010, Cypress Development Options 100% of Twenty-One Silver-Gold Project in Mineral County, Nevada You can return to the main News Releases page, or press the Back button on your browser. |
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