Cypress & Skyharbour Encounter Visible Gold in First Wedge Hole on Bruce Channel / Red Lake Project, NW Ontario

Cypress Development Corp. (TSX VENTURE:CYP) (FRANKFURT:C1Z) and Skyharbour Resources Ltd. (TSX VENTURE:SYH) are pleased to announce the discovery of a new zone on their Cypress (80%) Skyharbour (20%) Broulan Reef gold 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 Bruce Channel and Finn gold zones discovered by Gold Eagle Mines.

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

A new zone was intersected in the first wedge hole as it approached the north boundary of the Broulan Reef property. Cypress and Skyharbour believe this is part of the north-south trending system that extends 2.5 kilometres from the Couchenour mine and includes the Bruce Channel and Finn gold zones bought by Goldcorp from Gold Eagle Mines Ltd. in 2008. The zone is very strong and distinct where intersected. The zone consists of 14.2 metres (core length) of near solid quartz veining and an additional 27.5 metres (core length) of sheared and altered felsic porphyries. Visible gold was noted in this latter unit. Core angles would indicate the core lengths reported are 75% to 80% of true widths. The entire zone is moderately to strongly sheared and altered. Alteration in mafic units is dominantly biotitic with carbonate. In felsic units the alteration consists primarily of sericite. Samples from the entire zone are currently being cut and submitted to TSL Laboratory in Saskatoon for assay.

The first wedge hole was started at 1940 metres in the mother hole BR08-3C. There were 5 wedges established in the mother hole to shallow the hole and gain distance to the west across the Broulan Reef property. The first wedge hole was completed to a length of 2737 metres with a final azimuth of 330 degrees and a dip of 60 degrees.

A second wedge hole is now being established to extend the strike length of this new zone on the Broulan Reef property to the south. This second wedge will start at a depth of approximately 2040 metres from the first wedge hole.

The acquisition of the Gold Eagle property and continued exploration by Goldcorp indicates a significant new gold bearing system is being defined in the Red Lake camp. Production from the Bruce Channel system will undoubtedly contribute a significant proportion of mill feed to the Red Lake complex of Goldcorp over the coming years.

Efforts to date by Cypress and Skyharbour indicate that the system may be significantly larger than previously known.

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 VENTURE: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 VENTURE:SYH), visit the Company's website at www.skyharbourltd.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Donald C. Huston, President

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.
 

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