Red Lake in northwestern Ontario remains one of the richest and most prolific producing gold camps in Canadian mining history with more than 23 million ounces of gold recovered. Cypress holds an 80% interest in the Broulan Reef and McKenzie Island projects in the heart of the Red Lake gold camp. The properties are located adjacent to the south and west of Gold Eagle Mines' world-class Bruce Channel gold discovery, adjacent to the west of Premier Gold / Goldcorp's Rahill-Bonanza gold project, and 5 miles due west of Goldcorp's operating Red Lake & Campbell gold mines.

Cypress has been aggressive with its exploration approach to its Broulan Reef gold project, which has never had any detailed exploration conducted until Cypress acquired the ground in January 2006. The Company believes its property, adjacent to and on strike to Gold Eagle Mines' major Bruce Channel gold discovery to the north, is ideally located for the potential extension of this newly developed gold zone onto Cypress' Broulan Reef ground.

Cypress is also developing 3 mineral properties throughout the mining State of Nevada, U.S.A. The Company is developing its 73% owned high-grade Gunman zinc-silver project located northeast of Eureka, Nevada, where initial drilling encountered intercepts grading in excess of 25% zinc and 8 oz/ton silver over 75 feet.