Staff Sgt. Major John Buis says the driver identified herself earlier this week, after police and family members of the victim appealed through the media for the suspect to come forward.
However, Sgt. Buis says the investigation is still ongoing, as a key witness has not been identified.
The witness was driving a four-door hatchback, possibly grey or brown.
Police believe that witness came across the crash seconds after it occurred, reversed the vehicle and then left.
Cyclist Edward Simpkins, a long-time resident of Burnaby, died shortly after the crash. (The Canadian Press)