Cypress Development Corp.
TSX VENTURE : CYP

Cypress Development Corp.

December 07, 2009 14:29 ET

Cypress Development Increases Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2009) - Cypress Development Corp. (TSX VENTURE:CYP) announces that, further to its news release of November 24th, the Company has increased its non-brokered private placement from 5,000,000 flow-through units to up to 12,000,000 flow-through units at a price of $0.15 per unit to raise total proceeds of $1,800,000.

Each flow-through unit consists of one flow-through common share and one non-transferable share purchase warrant. Each share purchase warrant entitles the holder to purchase a non flow-through common share of the Company at a purchase price of $0.20 per warrant share for a period of two years from the date of closing of the private placement.

The Company may pay up to a 7% cash finder's fee or in non-flow-through units in connection with part of this private placement offering.

The Company intends to utilize the proceeds from the private placement on the Company's continuing winter drill program on its Broulan Reef Gold property located in Red Lake, Ontario.

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

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

JAMES G. PETTIT, Director

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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