Cypress Grants Incentive Stock Options to Consultants

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

May 13, 2010

Cypress Grants Incentive Stock Options to Consultants

Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) announces that pursuant to its stock option plan, the Company has granted incentive stock options to certain of its consultants to purchase up to an aggregate of 225,000 common shares in the capital stock of the Company, exercisable for a period of two years, at a price of $0.18 per share. The Company’s 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on May 11, 2010. Any shares to be issued upon exercise of the stock options will be subject to a hold period and shall not trade before September 14, 2010.

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]

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