Cypress Development Corp. - News Releases - Cypress & Skyharbour Drilling Update on Broulan Reef Bruce Channel / Red Lake Gold Project

2008 2007 2006 2005 2004

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 Jul 21, 2010 Cypress & Skyharbour Drilling Update on Broulan Reef Bruce Channel / Red Lake Gold Project
	Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) and Skyharbour Resources Ltd. (TSX-V: SYH) have provided an update from the field on their diamond hole drill program on Cypress' (82.5%) and Skyharbour's (17.5%) owned Broulan Reef Project located in the heart of the prolific Red Lake gold camp in Northwestern Ontario. The Broulan Reef property adjoins, on strike, to the south of the Cochenour / Bruce Channel major gold deposit now being brought to the production stage by Goldcorp. Bruce Channel Red Lake, Ontario Map: http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP_Broulan_Reef_Map.jpg. Wedge drill hole BR 09-2-2, targeting the known gold bearing North / South Shear Zone that hosts the Bruce Channel deposit, has been stopped at approximately 2900 metres pending assays. The receipt of assays will help the companies determine what course of action will be required going forward. Cypress and Skyharbour are very pleased with the geology encountered so far. 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 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.

	You can view the Next News Releases item: Fri Aug 6, 2010, Cypress & Skyharbour Update on Broulan Reef Bruce Channel / Red Lake Gold Project You can view the Previous News Releases item: Thu Jul 15, 2010, Cypress Development Closes Private Placement You can return to the main News Releases page, or press the Back button on your browser.