Cypress Development Corp.
TSX VENTURE : CYP
FRANKFURT : C1Z

Cypress Development Corp.

March 01, 2011 14:46 ET

Cypress' Interest in Broulan Reef Increased to 84.33%

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Cypress Development Corp. (TSX VENTURE:CYP) (FRANKFURT:C1Z) announces it has agreed with its joint venture partner, Skyharbour Resources Ltd. (TSX VENTURE:SYH) to a dilution of Skyharbour's interest in the Broulan Reef gold property located in the Red Lake District, Ontario, from a 17.5% interest to a 15.67% in lieu of outstanding property expenditures of $218,562 owed to Cypress. Following the dilution, Cypress will hold a 84.33% in Broulan Reef property.

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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