Cypress Development Corp. - News Releases - Cypress Broulan Reef Property Agreement with Skyharbour

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Cypress Development Corp.
Suite 2230 - 885 West Georgia Street
Vancouver, British Columbia V6C 3E8

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

	Wed Jun 2, 2010 Cypress Broulan Reef Property Agreement with Skyharbour
	Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) announces that it has entered into an agreement with Skyharbour Resources Ltd. ("Skyharbour"). Pursuant to the terms of the agreement, Skyharbour has agreed to sell 2.5% of its 20% interest in the Broulan Reef property to the Company for the sum of $250,000. Upon completion of the sale, the Company will hold an 82.5% interest in the property and Skyharbour will hold a 17.5% in the property. The above transaction is subject to the acceptance of the TSX Venture Exchange. The Company also announces that Dave Busch has changed his role in the Company from that of Vice-President of Exploration to Consulting Geologist. 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. ON BEHALF OF THE BOARD OF DIRECTORS "Jim Pettit" JAMES G. PETTIT Director 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.

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