First Cypress Technologies, Inc. Announces Signing of Option Agreement for Eddy Mineral Claims.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--April 18, 2003

First Cypress Technologies Inc. (the "Company")(OTCBB:FCYP) is pleased to announce that it has finalized the option agreement with Ruby Red Resources Inc. to acquire 70% of the Eddy mineral claims covering approximately 7000 acres in the Fort Steele Mining Division of the Province of British Columbia.

The Eddy Property is located in the Cranbrook area of southeastern British Columbia, which has been long known for its active placer gold activity. Gold was first discovered in the 1860's in the Wild Horse and Perry Creeks and the Moyie River with an estimated 2,500,000 oz gold recovered. No bedrock source has ever been established for these and other placer deposits in the area. Shear hosted high grade gold occurrences have been located in the area but remain relatively unexplored.

Recent activity by Chapleau Resources Ltd. has resulted in the discovery of significant gold mineralization along a minimum strike length of 950 feet and is open in both directions and at depth. (Chapleau press release March 17, 2003 www.chapleauresources.com) on the Bar property, adjacent to the Eddy claims, which are now under option by First Cypress Technologies Inc. Chapleau Resources Inc. has been actively staking and acquiring properties in the Cranbrook area adjacent to the Eddy claims and presently control over 80,000 acres of land with several gold prospects that directly offset the Eddy property.

The Eddy property is underlain by mid Proterozoic sediments of the Purcell Supergroup that have been intruded by quartz diorites and monzonites of the mid-Cretaceous Bayonne plutonic suite and possibly by the Eocene Coryell syenites. The property is transected by a major northeast southwest trending fault (Baldy Fault), which separates the Proterozoic Aldridge sediments to the south from the Creston sediments to the north. The David shear, immediately south of the property, hosts approximately 90,000 tons of 0.4 oz / ton gold. Three major gold occurrences are known on the Eddy claims and are called the MC shear zone, the Hill vein and the Galena Vein.

The MC shear, which strikes across the length of the property, carries gold mineralization at the headwaters of Weaver Creek. Visible gold was noted at this location and north in a parallel shear. Abundant silicification, brecciation and alteration in association with stockworked quartz veins / veinlets and Cu and Pb mineralization is located at the MC locality. Values of up to .97 oz / ton were recovered from surface chip samples taken from original trenches which have been rehabilitated. Dragoon Resources drilled four shallow diamond drill holes adjacent to the shear features and encountered gold mineralization, however they failed to test the main structural feature.

Additional gold occurrences were located at the Hill Vein locality. Chip samples from the Hill vein yielded values of up to 0.3 oz / ton, over a three foot width, from an altered bull quartz vein. The vein was traced over a 1500 ft strike length. The Hill Vein and Galena Vein localities have never been diamond drill tested.

The Company's exploration plan calls for detailed geologic mapping of the gold occurrences along with systematic soil and rock sampling during the 2003 field season. Also planned is VLF geophysical surveying to map the extent of each of the known shear features and diamond drill testing of each of the known gold occurrences.

On behalf of the Board

Contact: Robert Rosner, President

Telephone: [phone]

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.