Cypress Development Closes Private Placement
Suite 2230 – 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8 www.cypressdevelopmentcorp.com
TSX-V Trading Symbol: CYP Telephone: (604) 687-3376 Email: [email protected] Facsimile: (604) 687-3119
NEWS RELEASE
January 26, 2011
Cypress Development Closes Private Placement
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) announces that that further to its news releases dated December 21, 2010, it has closed its non-brokered private placement and issued a total of 19,245,000 units at a price of $0.05 per unit to raise gross proceeds of $962,250. Each unit consists of one common share and one non-transferable share purchase warrant which entitles the holder to purchase one additional common share of the Company at a price of $0.10 per share until January 24, 2013.
The 19,245,000 common shares and any shares to be issued upon the exercise of the warrants will be subject to a four month hold restriction until May 25, 2011.
The Company paid a 7.5% cash finder’s fee totaling $34,143.75 in connection with this private placement.
Cypress Development intends to utilize the proceeds from the private placement for exploration expenditures to be carried out on its Twenty One Silver-Gold property located in Mineral County, west central Nevada and for general working capital purposes.
Twenty One Silver-Gold project, Nevada location map:
http://www.cypressdevelopmentcorp.com/i/maps/21/Twenty-One-Silver-Gold- Production-Trend.jpg
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.
G:\Public\CYP\NEWS\01-26-11.doc
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: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.