Cypress Announces Drill Program on Broulan Reef Gold Project

VANCOUVER, BC -- (Marketwire) -- 09/07/11 --

Cypress Development Corp. /
Cypress Announces Drill Program on Broulan Reef Gold Project
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The issuer is solely responsible for the content of this announcement.

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

NEWS RELEASE

September 7, 2011

Cypress Announces Drill Program on Broulan Reef Gold Project
in Red Lake, Ontario

Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) is pleased to
announce
that drilling has been scheduled for a target in the eastern portion of its
84%
owned Broulan Reef property located in the heart of the Red Lake Gold
Camp.
Developments on the Goldcorp / Premier Gold Rahill-Bonanza joint
venture
project adjacent to the east of the Broulan Reef along with detailed
analysis of
compiled proprietary and public data have resulted in the identification
of a
high quality drill target in the eastern portion of the Broulan Reef
property.

Broulan Reef property location map, Red Lake, Ontario:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP_Gold_Eagle_Dri
ll_Vi
ew.jpg

A diamond drill program is planned to test for the westward extension of
west-
southwest striking structures that host recently discovered gold
mineralization
in positions 600 to 800 metres to the east of the Broulan Reef property.
These
recent discoveries made by the Goldcorp-Premier JV (G/PG JV)
occur in
structurally controlled zones within the Balmer assemblage volcanic
rocks at
depths ranging from 800 to 1000 metres below surface.

The discoveries being made on the portion of the G/PG JV immediately east
of the
Broulan Reef property include the following reported intercepts:

* 12.5 g/t Au over 4.5 metres
* 14.2 g/t Au over 5.0 metres
* 124.3 g/t Au over 1.5 metres

Data on the Premier Gold Mines Limited website indicate that the
gold
discoveries are hosted in and around sheared ultramafic bodies within the
Balmer
formation. This setting appears very similar to the geology in Cypress'
drill
hole BR09-3B which intercepted 18 metres of 1.62 g/t Au including 5.04
g/t Au
over 2.0 metres. The current target in the eastern portion of Cypress'
Broulan
Reef project is structurally controlled gold mineralization within the
Balmer
formation at depths less than 1500 metres from surface. Geologic maps
published
by the Geologic Survey of Canada (GSC) show the west-southwest
striking
structures being explored by the Goldcorp-Premier JV continuing onto the
Broulan
Reef property.

Cypress intends to commence exploration drilling of these mapped
structures in
September from a land based drill site on the Broulan Reef property.

GSC and other publically available mapping clearly show the target
area is
underlain by a structurally complex assemblage of the Bruce Channel
Formation
and the underlying Balmer mafic to ultramafic volcanic units. This
structural
complexity is considered to be very favorable for the existence of
gold
mineralization.

Cypress looks forward to reporting on the progress and results of the
drilling
of this key location in one of the world's most active and productive
gold
camps.

Robert Marvin, PGeo., CPG, Senior Project Geologist for Cypress
Development is
the Qualified Person, as defined by National Instrument 43-101, and
supervised
both the project field and the preparation of the technical information in
this
release.

About Cypress Development Corp.:

Cypress Development Corp. is a diversified precious and base metals
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
atwww.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS

'Don Huston'

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.

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 onwww.sedar.com.

--- End of Message ---

Cypress Development Corp.
Vancouver, BC Canada

Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;

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Source: Cypress Development Corp. via Thomson Reuters ONE

[HUG#1544566]

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