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www.cypressdevelopmentcorp.com

NEWS RELEASE

September 23, 2014

Cypress Samples up to 41% Zinc and 14% Copper at
RH South Target at Gunman Zinc-Silver Project, Nevada

Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTC Pink: CYDVF) (Frankfurt: C1Z) is pleased to report additional surface sampling results as part of its Phase 2 drill program at its wholly owned 2300 acre Gunman zinc-silver-copper project in White Pine County, Nevada.

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

Cypress has now completed its 2014 Phase 2 drill program at the main RH Zone. A further 11 reverse circulation delineation holes (holes GMRC-14 to GMRC-24) were completed for a total of 3370 feet. Oxide and sulfide mineralization was observed during chip logging of the drilled intervals.  Assays from the 2014 Phase 2 drill program are expected by early October.   

Additional rock chip and grab sampling has been completed at the RH South Target as part of the 2014 Phase 2 drill program at the Gunman Project. This news release summarizes additional sampling assays and geologic data collected during a focused sampling and reconnaissance mapping program conducted at the end of the Phase 2 drill program.

Initial surface sampling results were reported by News Release August 14, 2014 containing the RH South Target, Far South Copper Target and the TQCU Copper Target as part of this 2014 Phase 2 exploration program.

Gunman Project target zone map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Phase-1-Rock-Assays.jpg

The Gunman Project has several areas of outcropping alteration/mineralization that have never been systematically sampled and have only been drilled in a very limited, reconnaissance stage fashion. Sampling of areas of outcropping alteration and potential mineralization were completed in order to provide data for the targeting of future drilling in additional, highly favorable areas along the known 3 kilometer long mineral trend.

These new assay results, from samples collected at the end of the Phase 2 program, are highly encouraging as very high grade zinc, copper and silver mineralization has been confirmed in outcrop and subcrop at the RH South Target. 

Additional RH South Target Sampling Results:

Outcrop and subcrop were sampled along the contact between marbleized limestone and overlying coarse grained sandstone. Selective chip samples were collected by chipping outcropping rocks along the lengths listed in the table below. Cypress is planning a follow-up exploration program along the identified mineralized contact.

Additionally, grab samples were selectively collected from subcrop and rubble crop in the areas around the chip samples. The assays of these grab samples confirm very high grade zinc, silver and copper mineralization is present at surface at the RH South Target. Geologic data collected during the sampling clearly shows that the mineralized rock units at the RH South Target are nearly identical to those known from drilling and limited outcrop at the strongly mineralized main RH Zone. 

The observed alteration of limestone to marble and the local presence of epidote and pyroxene along the contact indicates high temperature alteration of the limestone host rock. This mineral assemblage indicates the presence of skarn style mineralization at the RH South Target.

Limited, past RC and Diamond drilling in the RH South Target area has produced intervals of >5% zinc mineralization and local intercepts containing >50 grams per tonne silver.  Outcropping copper oxide mineralization hosted by the pellet sandstone higher on the RH South Hill has never been drilled. 

Historic drilling on RH South Hill, and along the gravel covered, eastern flank of the hill, done in 1990, 2000, 2004 and 2007 shows widespread zinc and silver mineralization and no intersections have been followed up in any detail by focused drilling.

Additional Phase 2 RH South Target Surface Sampling Results

* g/t = grams per metric tonne.
* chip sample results were not continuous due to the nature of the outcrop being sampled.  
* grab samples are selective by nature and are unlikely to represent average grades of any deposits.

Conclusions:

The results of the entire 2014 Phase 2 surface sampling programs are considered highly encouraging.

Arsenic, bismuth, molybdenum and tungsten anomalies accompany the copper-silver-zinc mineralization in the oxidized clastic units and together suggest the possibility of an intrusive source for the mineralizing fluids.

Sampling of the RH South Hill was particularly successful and definitively shows that the geologic environment and high grade mineralization at the RH South Target is nearly identical to that of the main RH Zone.  Strong copper-silver mineralization in the well oxidized, basal portion of a clastic sedimentary package overlies strongly decalcified, and locally marbleized carbonate rocks which host robust zones of very high grade zinc and silver mineralization.

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.

Quality Assurance

Notes on Chemex Assay Procedures Used: A basic aqua regia-ICP multi-element package was run on 50 gram splits from 250 gram master pulps. Intervals assaying >100 grams/tonne silver and/or 1% zinc were rerun using a complete aqua regia digestion followed by ICP-AES analysis. Intervals assaying greater than 30% zinc following complete aqua regia digestion were then re-assayed from a fresh 50 gram pulp using classical titration methods.

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.

To find out more about Cypress Development Corp. (CYP.V), 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: 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 at www.sedar.com for further information.