Cypress & Skyharbour Hire Gold Eagle Mines' Drillers to further Explore the Broulan Reef Bruce Channel / Red Lake Gold Project

Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) and Skyharbour Resources Ltd. (TSX-V: SYH) announce that they have now mobilized a 2nd deep penetration drill rig onto 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 Goldcorp Gold Eagle Mines major gold deposit in the Bruce Channel zone.

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

Cypress and Skyharbour have contracted to Chibougamau Diamond Drilling Ltd to further explore the Broulan Reef gold project. Drill hole BR08-2A is being located approximately 400 metres to the north of the companies drill hole BR08-1A on the east side of the Bruce Channel. With permission received from Goldcorp, the collar of hole BR08-2A will be established on Goldcorp's newly acquired surface/mineral rights Gold Eagle Mines claims. This mother hole is targeted to an approximate length of 2400 metres and will extend into the northernmost claim unit held by Cypress Development and Skyharbour Resources. Several wedge holes will be established from this mother hole. The drill and necessary equipment are being mobilized to the property at this time, with drilling to commence immediately.

Chibougamau Drilling is well established in the Red Lake area and have been the lead driller for Gold Eagle Mines for several years. On September 25th, Goldcorp Inc. announced that the acquisition of Gold Eagle Mines by Goldcorp has been completed. Chibougamau continues to drill for Goldcorp on the Gold Eagle Mines project adjoining Cypress / Skyharbour Broulan Reef property to the north. Cypress and Skyharbour will continue to explore for the extension of Gold Eagle Mine's major gold deposit in the Balmer Assemblage under the waters of the Bruce Channel in Red Lake, Ontario.

Drilling continues on Cypress' and Skyharbour's first deep hole BR08-1A by Cabo Drilling.