Cypress Hills Resource Corp. (the "Company") (TSX VENTURE:CHY) is pleased to
announce it has closed its previously announced non-brokered private placement
for $213,125 (the "Private Placement") and the settlement of indebtedness to
arm's length parties and insiders. 


Pursuant to the Private Placement, 1,894,444 common shares ("Shares") of Cypress
were issued at a price of $0.1125 per Share for proceeds of $213,125. The
proceeds from the Private Placement will be used initially to repay the
Company's debt obligations and for general corporate purposes.


In addition, the Company has issued 666,000 in settlement of indebtedness to
arms-length parties in the amount of $74,925 (the "Debt Settlement") and has
issued a total of 3,556,587 Common Shares in settlement of $400,116 of
indebtedness to insiders of the Company at a price of $0.1125 per Common Share
(the "Insider Debt Settlement"). Of this amount, Ted Fostey, President and Chief
Executive Officer of the Company, and a company controlled by him, received
2,217,244 shares. As a result, Mr. Fostey currently holds directly and
indirectly a total of 3,412,245 shares, representing approximately 34.25% of the
issued and outstanding share capital of the Company. At a shareholders' meeting
held on November 14, 2013, the shareholders approved the Debt Settlement and
Insider Debt Settlement with Mr. Fostey.


The Common Shares issued under the Debt Settlement and the Insider Debt
Settlement are subject to a hold period of 4 months pursuant to applicable
securities laws and policies of the TSX Venture Exchange expiring on June 4,
2014. The Private Placement is also subject to a hold period of 4 months
pursuant to applicable securities laws and policies of the TSX Venture Exchange
expiring on June 7, 2014. The above transactions are subject to the receipt of
applicable final regulatory approvals.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FORWARD-LOOKING INFORMATION

Certain information set forth in this news release contains forward-looking
statements and information ("forward-looking statements"). More particularly,
this news release contains statements concerning the closing of the Private
Placement, the Debt Settlement and the Insider Debt Settlement based on the
assumption that they will be granted final approval by the TSX Venture Exchange.
By their nature, forward-looking statement s are subject to numerous risks and
uncertainties, some of which are beyond the Company's control, including the
impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
ability to access sufficient capital from internal and external sources. Readers
are cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on forward-looking
statements. The Company's actual results, performance or achievement could
differ materially from those expressed in, or implied by, these forward-looking
statements and, accordingly, no assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if any
of them do so what benefits the Company will derive therefrom. Furthermore, the
forward-looking statements contained in this document are made as of the date of
this document and, except as required by applicable law, the Company does not
undertake any obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise. The forward-looking statements contained in this document
are expressly qualified by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cypress Hills Resource Corp.
Ted J. Fostey
President and Chief Executive Officer
(403) 265-7663
Cypress Hills Resource (TSXV:CHY)
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