Cypress Development Corp.
TSX VENTURE : CYP
FRANKFURT : C1Z

Cypress Development Corp.

January 26, 2011 13:43 ET

Cypress Development Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2011) - Cypress Development Corp. (TSX VENTURE:CYP) (FRANKFURT:C1Z) announces that that further to its news releases dated December 21, 2010, it has closed its non-brokered private placement and issued a total of 19,245,000 units at a price of $0.05 per unit to raise gross proceeds of $962,250. Each unit consists of one common share and one non-transferable share purchase warrant which entitles the holder to purchase one additional common share of the Company at a price of $0.10 per share until January 24, 2013.

The 19,245,000 common shares and any shares to be issued upon the exercise of the warrants will be subject to a four month hold restriction until May 25, 2011.

The Company paid a 7.5% cash finder's fee totaling $34,143.75 in connection with this private placement.

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

Twenty One Silver-Gold project, Nevada 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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