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Cypress Receives Phase 2 Drilling Permits for Gunman Zinc-Silver Project, Nevada

Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTC Pink: CYDVF) (Frankfurt: C1Z) is pleased to announce the Company has been advised by the Bureau of Land Management (BLM) Nevada that Cypress' application of a Notice of Intent to conduct a Phase 2 drilling and exploration program at its wholly owned 1140 acre Gunman zinc-silver-gold project in White Pine County, Nevada has been approved.

Following a highly successful 2014 Phase 1 exploration and drilling program at the Gunman project (see news release June 12, 2014), Cypress is moving forward with a Phase 2 drill program. The very high grade zinc and silver drill intercepts returned from Phase 1 drilling at the RH Zone, with new exposures of the mineralization, has led to the conclusion that the spectacular oxide mineralization is likely a high grade polymetallic vein and breccia system and represents a very high quality zinc-silver project located in a very favorable geologic environment.

2014 Phase 1 delineation drilling at the RH Zone returned long, continuous intervals of very high grade, near surface oxidized zinc and silver mineralization. Highlights include Hole GMRC-9 which returned a 175 foot down hole interval of 12% zinc and 121 g/t silver and Hole GMRC-5 which retuned a 55 foot interval of 21% zinc and 147 g/t silver.

The Phase 2 program has begun with a detailed surface rock chip sampling program focused on additional, reconnaissance-stage targets at the Gunman project known as the Far South Copper, RH South Zinc, the Far North Zinc Target located approx. 6000 feet north of the RH Zone and the TQCU Copper Target located approx. 300 feet west of the RH Zone with assays on 107 rock chip samples pending.

The 2014 Phase 2 drill program at the RH Zone will consist of approximately 3000 feet of RC drilling at specific zinc and silver oxide targets. Cypress anticipates the drill program to start around the middle of August.

The Gunman project is hosted by complex veining and brecciation zones localized along generally north-south trending faults. The total strike length containing mineralized positions along this trend is now approximately 9000 feet.

2014 Phase 1 RH Zone Zinc and Silver Assay Results:

Hole ID
From (ft.)
To (ft.)
Interval (ft.)
Ag (g/t)
Zn (%)
GMRC-3
55
95
40
60.3
2.00
and
140
155
15
33.5
3.20
GMRC-4
20
175
155
128.0
7.20
including
125
175
50
87.7
17.09
including
135
150
15
83.9
30.64
GMRC-5
5
205
200
63.3
8.90
including
125
180
55
147.0
21.00
including
150
165
15
100.1
32.20
GMRC-8
130
185
55
54.3
6.50
GMRC-9
50
225
175
121.0
12.00
including
130
215
85
209.2
19.70
GMRC-10
55
80
25
24.2
4.60
and
105
120
15
8.0
1.70
and
140
155
15
5.9
1.20
and
170
220
50
20.3
8.70
GMRC-11
0
150
150
18.3
3.10
and
165
215
50
125.6
7.90

* All intervals above were computed from Chemex assay results of representative, 5 foot interval samples collected from the reverse circulation sample return. All intervals have been selected based on a 1% zinc lower cut-off. The intervals above are restricted to contain no more than one included interval that falls below the 1% zinc lower cut-off. No high grade cut has been applied. All samples were continuously collected from each 5 foot interval during drilling. The samples are large and average approximately 6 kilograms in weight.
* g/t = grams per metric tonne.
* The true width lengths are estimated to be approximately 65%-75% of down hole intervals.


As the table above indicates from Phase 1 drilling, zinc and silver mineralization occurs both as long, highly variable but completely continuous mineralized down hole intervals (Hole GMRC-9 for example) as well as holes with shorter intervals of strong mineralization separated by lower grade intervals (Hole GMRC-10 for example).

July 2014 Video of Cypress Gunman Zinc-Silver Project, Nevada:
https://www.youtube.com/watch?v=j4nAsmQ0eEk

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.

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 is well funded with approximately $1.1 million in its treasury.

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: 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.



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