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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



 Mon Nov 13, 2006
Non Flow-Through Private Placement Closes

 Vancouver, BC., Cypress Development Corp. (TSX.V: CYP) (the "Company") -- announces that it has issued a total of 2,500,000 non flow-through units pursuant to the first tranche closing of a private placement originally announced October 20th and amended October 24th, 2006. Each non flow-through unit consists of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.20 per share until October 31, 2008.

As a finder's fee in connection with the transaction, the Company has issued a further 35,250 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 common shares and warrants issued under the non flow-through placement and any shares issued pursuant to the exercise of share purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring March 2, 2007.

Cypress Development Corp. is a diversified precious and base metal exploration and development company with 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.

ON BEHALF OF THE BOARD OF DIRECTORS

"Don Myers"
______________________________________
DONALD G. MYERS
Director

For further information contact:
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: Fri Dec 8, 2006, Flow-Through Private Placement Closes

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