Cypress Hills Resource Corp. Adopts New By-Laws and Announces Annual Shareholders' Meeting

Cypress Hills Resource Corp. (the "Company") (TSX VENTURE:CHY) announced that
its board of directors has adopted replacement By-law No. 1 ("New By-laws"). The
New By-laws have been updated as compared to the prior By-laws and reflect
changes to corporate law in Alberta, general technological advancements and
standard corporate practices. Among other things, the New By-laws provide an
advance notice provision which fixes deadlines for submitting director
nominations to the Company prior to any annual or special meeting of
shareholders where directors are to be elected, and sets forth the information
that a shareholder must include in their nomination in order for it to be valid.
The purpose of the advance notice provision is to treat all shareholders fairly
by ensuring that all shareholders, including those participating in a meeting by
proxy rather than in person, receive adequate notice of the nominations to be
considered at a meeting and can thereby exercise their voting rights in an
informed manner. In addition, the advance notice provision of the New By-laws
should assist in facilitating an orderly and efficient meeting process. The
differences between the Company's prior By-laws and the New By-laws will be
outlined in the Information Circular of the Company which will be filed on SEDAR
by the middle of October, 2013.


The New By-laws are effective immediately and will be placed before shareholders
for confirmation at the upcoming annual and special meeting of shareholders of
the Company (the "Meeting") on November 14, 2013. A copy of the New By-laws are
filed under the Company's profile at www.sedar.com.


The Company is also reviewing its corporate structure and its current working
capital and is in the process of assessing the financial needs of the Company.
The Company has a working capital deficiency at June 30, 2013 of approximately
$475,000 and ongoing financial requirements. Therefore, the Company is
contemplating the settlement of certain outstanding debt, including shareholder
loans of $147,000 and a flow through tax liability of $205,000, by the issuance
of common shares, as well as its ability to complete a private placement. The
successful negotiation of either of these actions could result in the creation
of one or more new control persons. Depending on the outcome of the above
business assessments, the Company may also seek shareholder approval at the
Meeting for the following:


1. The consolidation of its share capital on the basis of up to three old shares
for one new share of the Company; and


2. The creation of one or more control persons as a result of one or more
specified persons holding more than 20% of the outstanding voting shares of the
Company.


The completion of a settlement of debt transaction and/or a private placement
would be subject to the receipt of all applicable approvals, including board of
directors and that of the TSX Venture Exchange.


Neither the 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 STATEMENTS 

This press release contains forward-looking statements or information
("forward-looking statements") within the meaning of applicable securities laws.
The use of any of the words "will", "expects", "believe", "plans", "potential"
and similar expressions are intended to identify forward-looking statements.
More particularly and without limitation, this press release contains
forward-looking statements concerning the New By-laws and, subject to assessment
by the Company, consolidation of shares, debt settlement and/or private
placement and the creation of one or more new control persons. 


The forward-looking statements in this press release are based on certain key
expectations and assumptions made by the Company, including the receipt of all
necessary approvals, including but not limited to shareholder and regulatory
approvals including the approval of the TSX Venture Exchange. There is no
assurance that these expectations and assumptions will be met or satisfied and
there is therefore no assurance that the consolidation and debt settlement
and/or private placement will be completed, one or more new control persons be
approved, or that the New By-laws will be confirmed by shareholders. 


Since forward-looking statements address future events and conditions, by their
very nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to the risks relating to the
failure to obtain necessary shareholder or regulatory approvals required in
order to proceed with the confirmation of the New By-laws and, subject to
assessment by the Company, the consolidation of shares, debt settlement and/or
private placement and the creation of one or more new control persons.
Additional information on these and other factors that could affect the
operations or financial results of the Company are included in the Company's
management's discussion and analysis and other documents filed with applicable
securities regulatory authorities and may be accessed through the SEDAR website
(www.sedar.com). The forward-looking statements contained in this press release
are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, unless so required by applicable
securities laws. The forward-looking statements contained in this press release
are expressly qualified by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cypress Hills Resource Corp.
Ted J. Fostey
President & CEO
[phone]