AGM Held -- Directors Re-elected

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

May 31, 2011

AGM Held -- Directors Re-elected

Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) (the "Company") is pleased to announce that it held its annual general meeting on May 26, 2011. The Company reports that Donald C. Huston, James Pettit, Donald G. Myers and Amanda Chow were re-elected directors of the Company. The shareholders of the Company also re-appointed Davidson & Company, Chartered Accountants, as auditors and approved the renewal of the Company's Incentive Stock Option Plan.

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.

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.

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