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Abonner Cypress Development Corp.

Cypress Development Corp.

Cypress & Skyharbour Enter Balmer Assemblage on their Bruce Channel/Red Lake Drill Program

Vancouver,BC (euro adhoc) -

TSX-V Trading Symbol: CYP                    Telephone:  (604) 
687-3376
 Email: info(at)cypressdevelopmentcorp.com    Facsimile:  
(604) 687-3119
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
industry/mining
Cypress Development Corp. (TSX-V: CYP)
(FWB: C1Z) and Skyharbour Resources Ltd. (TSX-V: SYH) are pleased to 
provide an update from the field regarding its ongoing drill program 
on their Cypress (80%) Skyharbour (20%) owned Broulan Reef property 
in Red Lake, Northwestern Ontario. The Broulan Reef property is 
situated along the prolific Red Lake trend, west of Goldcorp Inc.'s 
operating Red Lake and Campbell Mines, and immediately southwest of 
the Gold Eagle Mines recent major gold discovery in the Bruce Channel
zone.
Bruce Channel Red Lake, Ontario Map: www.cypressdevelopmentcorp.com/s
/Image.asp?i=maps/CYP-Broulan-Reef-New-Map.jpg
Cypress and Skyharbour's drilling indicates they have encountered 
mafic/ultra mafic units that are found in the Balmer Assemblage 
series of rocks at approximately 1450 metres. Sulphides are seen to 
be pervasive throughout the Balmer Assemblage, consisting of mainly 
phyrrotite, chalcopyrite, pyrite, and arsenopyrite is also present.
Drilling of the main hole has now been competed to 1752 metres and 
drilling continues with an anticipated depth of this mother hole to 
approximately 2200 to 2400 metres. Drilling proceeds at a cautious 
but steady pace. This will ensure that the main hole maintains 
stability to allow Cypress and Skyharbour to establish a series of 
wedge off holes from the main hole to properly explore the rocks of 
the Balmer Assemblage that are now known to host a major gold deposit
in the Bruce Channel zone. The companies are pleased with the 
progress of the drilling over the last several weeks and look to 
continue with the rate of footage being attained at this time.
In common with Goldcorp's Red Lake mine, Campbell mine, and 
Cochenour-Willans mine, and the recently announced Gold Eagle Mines 
major discovery, the Broulan Reef property lies within the Balmer 
Assemblage. The structural and mineralogical characteristics are 
similar to the aforementioned mines. Gold can be found in both its 
native form, as well as within sulphide rich zones.
The plan for this drill program is to explore the southern extension 
of the Bruce Channel deposit which is being developed by Gold Eagle 
Mines. The Bruce Channel zone is inferred to extend on strike onto 
the Cypress and Skyharbour owned Broulan Reef property.
The past year has seen an extensive amount of activity focused on the
Bruce Channel. Gold Eagle Mines has continued to drill and expand the
discovery zone to the south southwest toward the Broulan Reef 
property. Goldcorp continues to drill on the north boundary of the 
Bruce Channel discovery zone near Goldcorp's past-producing 
Cochenour-Willans mine. Cypress and Skyharbour continue to drill on 
the southern boundary of the Bruce Channel discovery zone.
New Red Lake Gold Deposits Map: http://www.cypressdevelopmentcorp.com
/s/Image.asp?i=maps/CYP-Picture2.jpg
On July 31st, Mr. Kevin McArthur, President of Goldcorp, reported 
that Goldcorp Inc. and Gold Eagle Mines Ltd. have signed an agreement
whereby Goldcorp will acquire, through a friendly plan of 
arrangement, all outstanding shares of Gold Eagle Mines.
Cypress Development's and Skyharbour Resources' Broulan Reef property
is now the only property along the productive Bruce Channel trend 
that is not now controlled by Goldcorp.
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-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 and RAINY RIVER districts
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
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.
end of announcement                               euro adhoc

Further inquiry note:

Don Myers, Director, Cypress Development Corp.,
Telephone: (604) 687-3376, Toll Free: (800) 567-8181, Facsimile: (604)
687-3119, Email: info@cypressdevelopmentcorp.com

Branche: Metals & Minerals
ISIN: CA2327491015
WKN: 509727
Börsen: Börse Frankfurt / Open Market