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2014-05-27

Cypress Development Corp. : Cypress' Completes Phase 1 Drill Program at Gunman Zinc-Silver Project in Nevada

Cypress Development Corp. / Cypress Development Corp. : Cypress' Completes
Phase 1 Drill Program at GunmanZinc-Silver Project in Nevada . Processed and
transmitted by NASDAQ OMX Corporate Solutions.The issuer is solely
responsible for the content of this announcement.

Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com

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|TSX-V Trading Symbol: CYPEmail:info@cypressdevelopmentcorp.com Telephone: (604) 687-3376Facsimile: (604) 687-3119 |
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NEWS RELEASE

May 27, 2014

Cypress
' Completes Phase 1 Drill Program at Gunman Zinc-Silver Project

in Nevada

Vancouver
, BC - Cypress Development Corp. (TSX-V:
CYP
)
(OTC Pink:CYDVF) (Frankfurt:C1Z) ("Cypress" or the "Company") is pleased to
announce that the Phase 1 2014 drill program at its wholly owned Gunman
zinc-silver oxide project, Nevada, has been completed with all assays
pending. The 1140 acre Gunman zinc-silver-gold project is located directly
west of Barrick's Bald Mountain gold mine complex on the southern Carlin
mineral trend in White Pine County, Nevada.

Three previous Reverse Circulation (RC) drill programs totaling approximately
38,000 feet have been completed by Cypress on the Gunman project with
significant grades between 5% to 33% zinc and 0.5 to 15.0 oz per ton silver
encountered in the RH Zone.

Gunman Project Southern Carlin Trend location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg

Cypress carried out a thirteen hole 2014 Phase 1 RC drill program at its
Gunman poly metallic property in White Pine County, Nevada. The thirteen
holes totaled 3,540 feet and were targeted at three areas of the central
portion of the property. Additional work completed during Phase 1 includes
the initiation of a detailed stratigraphic study in the central portion of
the property and prospecting in the far north exploration area, located 5000
feet north of the central portion of the property.

2014 Gunman RC Drill Hole Location Map:

http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-May-2014...

Main RH Zone Area

Seven holes were drilled into the known, well developed oxide zinc and silver
mineralization at the RH Zone. These holes were completed to provide
confirmation assays in order to complete an independent NI 43-101 Compliant
Resource Estimate and for the opportunity to collect additional data on the
style of mineralization at the RH Zone. The holes drilled into the western
portion of the RH Zone intersected the distinctive poly lithic, rounded grain
sandstone which is known from outcrop along the western margin of the RH
Zone. Below this clastic marker unit, a well fractured, brecciated and stock
work veined dolomite unit is encountered. Well-developed gossanous zones
were logged from near surface to an approximate depth of 220 feet.
Carbonaceous dolomite was intersected at depth in all the RH Zone area holes.

Bedrock exposures created during construction of the RH Zone area drill pads
have provided valuable, detailed data on the style of mineralization in the
near surface portion of the RH Zone. Gossanous boxworks form irregular bands
through the exposed, highly brecciated dolomite. These gossan zones are
associated with quartz veinlet swarms and quartz, carbonate, iron oxide
breccia matrix in fills. These textures and observed veining zone associated
with the gossanous boxworks suggest that the mineralization in the near
surface portion of the RH Zone has a strong component of quartz and
poly-metallic sulfide veining.

The exposed brecciated and veined gossanous have been sampled and specimens
have been selected for more detailed study of the mineralization.
Identification of quartz-poly metallic sulfide veining in the rubble crop and
scrapped out crop is new information that will have an impact on targeting of
future drilling on the property.

North RH Area

Four holes were completed as wide step outs to the north and east of
mineralization intercepted in a previous diamond drill hole in 2007. All
four holes passed through a complex, well oxidized, carbonate cemented
breccia zone and down into well oxidized, calcareous sandstone units.
Oxidized sandy limestone units were found under the overlying clastic
sedimentary units. Carbonaceous limestone and dolomite were intersected in
all holes at depth.

2007 Gunman zinc-silver project, Nevada drill map
:

http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/CYP_Gunman_2007...

Vuggy sandstone and limestone clasts from the upper portions of two of these
exploration holes contain local needle like crystals of the zinc oxide
mineral hemimorphite.

TQCU Target
The distinctive pellet clast sandstone exposed along the western margin of the
RH Zone contains outcropping and subcropping copper oxide mineralization.
Cypress has not previously explored the potential of this flanking zone of
mineralization. The copper oxides are exposed along a 3000 foot strike
length going south from the RH Zone area and continuing south of the known RH
South Zone.

The exploration completed at the TQCU target during the Phase 1 program
includes sampling of outcropping and sub cropping copper oxide mineralization
and the drilling of two shallow RC holes. Further field work is planned to
explore the details of the trend and controls on this mineralization.

The two completed RC holes passed through strongly oxidized pellet grain
sandstone and down into well oxidized and locally gossanous sandy limestone.

Far North Area Reconnaissance Sampling Results
Reconnaissance rock chip sampling of the northern portion of the Gunman
property was completed as part of the Phase 1 exploration program. A total
of 42 samples were collected from outcrops, sub crop/rubble crop and float.
The samples were assayed by ALS Chemex in Reno. The assay results show two
very encouraging anomalies.

1 A single float sample collected in a dry wash 1500 feet east of the
property boundary retuned a 2.24% Zn assay. The source of the sampled float
is unknown but the slope direction of the dry stream bed indicated that the
sample was transported from the property area to the east.
2 A significant cluster of highly anomalous Zinc-Arsenic-Mercury assays were
returned from sampling of silicified and oxidized limestone conglomerate
outcrops and rubble crops located approximately 5000 feet north of the RH
Zone.

This multi-sample anomaly is hosted by the limestone conglomerate unit which
caps the mineralized carbonates and siliciclastic rocks at the RH Zone, RH
South Zone and the RH North Zone. While direct comparison of the zinc values
in the new Far North Target results to the RH Zone area cannot be made due to
complete erosion of the cap rock from the underlying mineralized sandy
limestones, this cluster anomaly is a very promising development.

Low cost, direct sampling of altered outcrops has proven to be effective as an
exploration tool at the Gunman project.

2007 Gunman zinc-silver project, Nevada drill map
:

http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/CYP_Gunman_2007...

Gunman Mineralization
Mineralization at the Gunman project appears to be controlled by a series of
well developed NNE trending fracture zones. This setting is seen in other
locations along the Carlin and the Battle Mountain gold trends where the NS
to NNE alignments of mineralized zones are located in cross cutting
structural zones within or adjacent to the main NNW striking trends. The
mineralization of the zinc-silver zones on the Gunman is located close to
surface. The very high grade of zinc-silver mineralization seen in the RH
Zone is a compelling reason to continue exploration on the Gunman project.

Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development Corp.
is the Qualified Person as defined by National Instrument 43-101 and has
supervised both the project field work and the preparation of the technical
information in this release.

On March 18th, Cypress announced the completion of a National Instrument (NI)
43-101 Compliant Technical Report on the Gunman zinc-silver-gold project. For
additional information please refer to the full report filed on SEDAR and on
Cypress' web site dated March 17, 2014 and titled: GUNMAN ZINC-SILVER PROJECT
NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT.

About Cypress Development Corp.:

Cypress Development Corp. is a diversified precious and base metals
exploration and development company with properties in Red Lake, Ontario,
Canada, and in Nevada, U.S.A. The Company has approximately $1.1 million in
its treasury.

To find out more about Cypress Development Corp. (TSX-V: CYP), visit our
website atwww.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:info@cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address events or developments that
management of the Company expects, are forward-looking statements. Although
management believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance, and actual results or developments may
differ materially from those in the forward-looking statements. The Company
undertakes no obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors, should change.
Factors that could cause actual results to differ materially from those in
forward-looking statements, include market prices, exploration and
development successes, continued availability of capital and financing, and
general economic, market or business conditions. Please see the public
filings of the Company atwww.sedar.comfor further information.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Co...

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