Cypress Development Corp.
TSX VENTURE : CYP
FRANKFURT : C1Z

Cypress Development Corp.

November 26, 2008 09:00 ET

Cypress Announces Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2008) - Cypress Development Corp. (TSX VENTURE:CYP) (FRANKFURT:C1Z) announces that it has arranged a non-brokered private placement of up to 10,000,000 flow-through units at a price of $0.20 per unit. Each unit consists of one flow-through common share and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase a non flow-through common share of the Company for a period of two years at a price of $0.25 per share in the first year and $0.30 per share in the second year.

The Company may pay up to a 7.5% finder's fee in cash and/or non-flow-through units in connection with part of this private placement offering.

Cypress intends to utilize the proceeds from the private placement on the Company's continuing winter drill program on its Broulan Reef gold project located in Red Lake, northwestern Ontario.

Bruce Channel Red Lake, Ontario Map: http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP-Broulan-Reef-New-Map.jpg

The private placement is subject to the acceptance of the TSX Venture Exchange.

About Cypress Development Corp.:

Cypress Development Corp. is a diversified precious and base metal exploration and development company with properties in Red Lake, Ontario, Canada, and in Nevada, U.S.A.

To find out more about Cypress Development Corp. (TSX VENTURE:CYP), visit our website at www.cypressdevelopmentcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

DONALD C. HUSTON, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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