BRIEF-Cypress & Skyharbour amend Red Lake, Ontario property deals

March 18 (Reuters) - Cypress Development Corp CYP.V :

* & Skyharbour amend Red Lake, Ontario property deals

* Skyharbour will not be proceeding with sale of its 100% owned south bay

copper-zinc project in dent, mitchell and agnew townships

* Under the new terms, in consideration for the 20% interest, Cypress will pay

$25,000 in cash to Skyharbour

* Amended the terms of the sale of skyharbour's 20% interest in the mckenzie

island gold project to Cypress

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