Cypress & Skyharbour Begin 1st Daughter Hole on Broulan Reef Gold Project, Bruce Channel / Red Lake, NW Ontario

Mon Mar 9, 2009 9:36am EDT

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  VANCOUVER, BC, Mar 09 (MARKET WIRE) -- 

Cypress & Skyharbour Begin 1st Daughter Hole on Broulan Reef Gold
Project, Bruce Channel / Red Lake, NW Ontario

    Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) and
Skyharbour Resources Ltd. (TSX-V: SYH) announce that the initial mother
hole BR08-02 has now been completed to a depth of 2742 metres on their
Cypress (80%) Skyharbour (20%) Broulan Reef project located on strike to
the south of the Bruce Channel and Finn gold zones discovered by Gold
Eagle Mines. These gold zones were acquired by Goldcorp when it purchased
Gold Eagle Mines for $1.3 billion in September 2008.

    Bruce Channel Red Lake, Ontario Map:

   
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=photos/Bruce_Channel_Photo.g
f

    Strong carbonate alteration with disseminated sulphides and quartz
veining and brecciation continued to the bottom of the hole. This
alteration was particularly strong and located on the hanging wall and
foot wall of a Gabbro body within the Balmer assemblage formation. As
previously announced, the drilling has intersected mineralization on
strike with the Finn zone on the Goldcorp Gold Eagle property to the
immediate north of the companies' Broulan Reef property.

    Wedging has now started on the first of several planned daughter holes
from BR08-02 at a depth of 1940 metres. A series of wedges are now being
installed to allow the first daughter hole to explore the known
alteration / mineralization at higher levels and extend the exploration
drilling to the west. This daughter hole will allow Cypress and
Skyharbour to further explore the highly prospective portion of the
Balmer assemblage formation below an important thrust fault intercepted
in the mother hole. The companies are encouraged with the mineralization
seen to date.

    Cypress' VP of Exploration, Dave Busch, PGeo has been logging and
splitting all cores from hole BR08-02 and all cores are being submitted
to TSL Laboratory in Saskatoon. Assays are pending. A great deal of
excellent geological information is being derived from this drill hole.

    The companies hired Chibougamau Diamond Drilling (Quebec) in October 2008
to complete a major deep penetration drill program on the Broulan Reef
property.

    Deposits in the Red Lake gold camp typically have a long vertical extent
reaching in excess of 2600 metres in some cases. It is still early days
for the Cypress / Skyharbour deep penetration drill program on their
Broulan Reef property.

    David J. Busch, B.A., B.Sc., PGeo., Vice President of Exploration, 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

Cypress Development Corp.

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


    
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

    This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of historical
fact, included herein are forward-looking statements that involve various
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. Important
factors that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents filed
from time to time with the British Columbia Securities Commission and the
United States Securities & Exchange Commission.


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