Cypress Development Corp.: Cypress & Skyharbour Drilling Update at Bruce Channel / Red Lake Gold Project, NW Ontario

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^{Published in Business and Finance on Tuesday, September 15th 2009 at 6:46 GMT by Market Wire}

VANCOUVER, BC--(Marketwire - September 15, 2009) -

Suite 2230 - 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8 [ www.cypressdevelopmentcorp.com ]

TSX-V Trading Symbol: CYP Telephone: (604) 687-3376 Email: [ info@cypressdevelopmentcorp.com ] Facsimile: (604) 687-3119

JOINT NEWS RELEASE

September 15, 2009

Cypress & Skyharbour Drilling Update at Bruce Channel / Red Lake Gold Project, NW Ontario

Vancouver, BC - Cypress Development Corp. (TSX-V: [ CYP ]) (FWB: C1Z) and Skyharbour Resources Ltd. (TSX-V: [ SYH ]) continue unabated with their major deep drilling program on Cypress' (80%) Skyharbour's (20%) Broulan Reef project located in the heart of the Red Lake gold camp in Northwestern Ontario. The Broulan Reef property adjoins on strike to the south of the Cochenour / Bruce Channel gold deposits owned by Goldcorp.

Bruce Channel Red Lake, Ontario Map: [ http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP- ] Broulan-Reef-New-Map.jpg

Hole BR09-01 is currently at a depth of approximately 2050 metres and is expected to be drilled to approximately 2700 metres. BR09- 01 entered the Balmer Assemblage formation at a depth of approximately 1590 metres. The collar of this hole is located on the east shore of McKenzie Island on Goldcorp's ground with Goldcorp's permission and is being drilled in an easterly direction onto the Broulan reef property.

Cypress' and Skyharbour's target continues to be structures in the Balmer Assemblage aged rocks below a known "Thrust Package".

The Thrust Package could be viewed as a 'Trap Rock' that has confined fluids below it. These fluids have severely altered the rock and resulted in gold being deposited in the footwall of the Thrust Package. It has been speculated that the setting immediately below the Thrust Package is the host of some 6,000,000+ ounces of gold including the Bruce Channel, Finn Zone discoveries and the Couchenour Mine.

Broulan Reef schematic map showing Thrust Package: [ http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/BR_XS_LN ]. gif

In other news, Cypress and Skyharbour announce the acquisition of an additional claim contiguous with their Broulan Reef property.

The new claim adds another 40 acres to the Broulan Reef land package. The claim is located on the immediate southwest side of the Broulan Reef property. This particular claim was held as a leased claim for 40+ years and became open for staking. This new acreage gives Cypress and Skyharbour broader exposure to the geological suite of rocks that exist below the shallow waters of the Bruce Channel.

David J. Busch, B.A., B.Sc., PGeo., Vice President of Explorations is the qualified person under the meaning of National Instrument 43- 101 and has reviewed the data in this News Release.

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-V: [ CYP ]), visit our website at [ www.cypressdevelopmentcorp.com ].

About Skyharbour Resources Ltd.: Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the RED LAKE district of northwestern Ontario, Canada.

To find out more about Skyharbour Resources Ltd. (TSX-V: [ SYH ]), visit the Company's website at [ www.skyharbourltd.com ].

ON BEHALF OF THE BOARD OF DIRECTORS

"Don Huston"

 DONALD C. HUSTON President For further information contact myself or: Don Myers Director Cypress Development Corp. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: [ info@cypressdevelopmentcorp.com ]

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

This news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on [ www.sedar.com ] .

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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