Phase 2 Drill Program At Gunman Project In Nevada

VANCOUVER, BC - Cypress Development Corp. reported plans for a 2014 Phase 2 exploration and drill program at its 100% owned Gunman zinc-silver oxide project in Nevada. The 1140 acre Gunman zinc-silver project is located directly west of Barrick's Bald Mountain gold mine complex on the southern Carlin mineral trend in White Pine County, Nevada.

Following the a highly successful 2014 Phase 1 exploration and drill program at the Gunman project, Cypress is moving forward with a Phase 2 program. The very high grade zinc and silver drill intercepts returned from Phase 1 drilling at the RH Zone, with new exposures of the mineralization, has led to a conclusion that the spectacular oxide mineralization is likely a high grade polymetallic vein and breccia system and represents a very high quality zinc-silver project located in a very favorable geologic environment.

The Phase 2 program will include approximately 10 additional holes along the periphery of the known RH Zone high grade mineralization. The holes will be located in identified block areas, which have had no previous drilling.

- Surface sampling in the Far North Target Area has identified an area of outcropping, silicified limestone conglomerate that contains a well-developed zinc-arsenic and mercury anomaly based on first pass rock chip sampling. In addition, a single sample of leached, weathered rock collected in a dry wash down slope and to the east of this area returned 2.235% zinc. It is likely that this material was eroded from a source area within the northern portion of the property.

The Phase 2 program will include a focused prospecting effort to determine the source of the high grade float sample as well as to provide more detail in the area of the altered, outcropping and anomalous limestone conglomerate.

Five holes are being permitted in the Far North area within the altered outcrop target and in adjacent areas along the interpreted structural zone, which connects the Main RH Zone area to the Far North Target area. The Far North Target area lies 6000 feet north of the RH Zone and Cypress views the area as highly prospective due to the results of the Phase 1 program. Discovery of significant bedrock zinc-silver mineralization there would immediately change the scope of the project.

- Outcropping copper oxide mineralization was sampled during Phase 1 and returned copper assays up to 10% copper along with very high arsenic values. This target area lies 300 feet west of the RH Zone and is known as the TQCU target area.

The copper showing has been explored by historical shallow workings and is one segment of a 2500 to 3000 foot long zone of outcropping copper oxide mineralization hosted in a distinctive coarse grained sandstone unit. This copper mineralization flanks the zinc-silver mineralization delineated at the RH and RH South Zones.

Detailed prospecting and mapping of the showings west of the RH Zone will be done in order to target exploration drilling of the outcropping copper oxide mineralization. Two to three holes are planned.

The 2014 Phase 2 program is envisioned to consist of approximately 5000 feet of RC drilling at specific zinc, silver and copper oxide targets covering a 6000 foot strike length as described above. Focused prospecting and mapping will be done in early July. BLM permitting is underway. Cypress anticipates the drill program to start around August 1st.