Cypress Development Corp.
TSX VENTURE : CYP
FRANKFURT : C1Z

Cypress Development Corp.

December 21, 2010 12:42 ET

Cypress Development Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2010) - Cypress Development Corp. (TSX VENTURE:CYP) (FRANKFURT:C1Z) announces a non-brokered private placement of up to 20,000,000 Units at an offering price of $0.05 per Unit. Each Unit will consist of one common share and one non-transferable share purchase warrant entitling the holder to purchase an additional common share at a price of $0.10 for a period of two years. The Company may pay up to a 7.5% finder's fee, payable in cash or units, in connection with part of this private placement offering.

Cypress Development intends to utilize the proceeds from the private placement for exploration expenditures to be carried out on its Twenty One Silver-Gold Mineral Claims located in Mineral County, west central Nevada and for general working capital purposes.

Twenty One Silver-Gold project location map:
http://www.cypressdevelopmentcorp.com/i/maps/21/Twenty-One-Silver-Gold-Production-Trend.jpg

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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