Cypress Development Corp.
TSX VENTURE : CYP

Cypress Development Corp.

November 27, 2009 12:15 ET

Cypress Development Closes First of Two Flow-Through Private Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2009) - Cypress Development Corp. (TSX VENTURE:CYP) announces that further to its news release dated November 19, 2009, it has issued a total of 3,333,333 flow-through units to one hidden placee at a price of $0.15 per unit to raise total proceeds of $500,000.

Each flow-through unit consists of one flow-through common share and one non-transferable share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase a non flow-through common share of the Company at a price of $0.20 per warrant share until November 27th, 2011.

The common shares and warrants issued under the private placement and any common shares issued pursuant to the exercise of the warrants are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange expiring March 28th, 2010.

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

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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