CYPRESS DEVELOPMENT PROVIDES PROGRESS UPDATE ON FEASIBILITY STUDY AND LITHIUM EXTRACTION FACILITY

CYPRESS DEVELOPMENT PROVIDES PROGRESS UPDATE ON FEASIBILITY STUDY AND LITHIUM EXTRACTION FACILITY

TSXV: CYP | OTCQX: CYDVF

Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") is pleased to provide a progress update on its ongoing Feasibility Study being conducted on the Company's Clayton Valley Lithium Project ("Project") near Silver Peak, Nevada and on its operational Lithium Extraction Facility ("Pilot Plant") in Amargosa Valley, Nevada .

Cypress Development Corp. logo (CNW Group/Cypress Development Corp.)

Highlights
  • The Pilot Plant continues to function as designed, working to optimize the Project's flowsheet. The Plant leaches lithium-bearing claystone material, through to the production of concentrated lithium solution using the Company's Direct Lithium Extraction ("DLE") process.

  • Additional piloting runs will take place at Saltworks Technologies, Inc. following the successful production of lithium carbonate ("Li 2 CO 3 ") from the Pilot Plant's concentrated lithium solutions.

  • The Project's Feasibility Study is on schedule and is continuing to advance toward an anticipated second quarter 2023 completion.

  • Arrangements are proceeding to initiate federal, state, and local permitting for the Project, with compilation of data and evaluation of related infrastructure, including access, water, and power supply corridors.

  • Ahead of the Feasibility Study and permitting, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.
Pilot Plant

Cypress continues to conduct testing at its Pilot Plant with the support of del Sol Refining, Inc. Since its start-up, the Pilot Plant has operated in 28 cycles of continuous 24/7 operation, with minimal down-time and maintenance matters. The test work was conducted using multiple configurations and equipment to best replicate the Project flowsheet. In the testing to date, nearly 10,000 samples of solutions, solids and precipitates have been collected and analyzed. Other data collection, including recording of flow rates and physical conditions at key sample points throughout the Pilot Plant, has been conducted, with particular attention to the DLE section of the Pilot Plant to develop the Project's mass-balance calculations, and to finalize the flowsheet for the Feasibility Study.

Pilot Plant testing has achieved targets in most areas, including operating with 100% recycled solutions. Specific challenges were addressed with sufficient results to aid in the completion of the Feasibility Study. Further testing in 2023 is planned to confirm the overall process, continue to demonstrate the flowsheet, and produce samples of Li 2 CO 3. Additional 1000-liter lots of concentrated lithium solution from the DLE section of the Pilot Plant will be shipped to Saltworks Technologies, Inc, in Richmond, B.C. , Canada by month end.

2023 plans for the Pilot Plant include testing alternate reagents and equipment, which may include identification of potential by-products, and ways to enhance impurity removal and the DLE process area. Additional space within the Pilot Plant building has been prepared for this work.

Feasibility Study

The Feasibility Study is advancing on schedule, with completion anticipated by mid-year. On-site infrastructure designs, including, mine, processing plant, and tailings and waste storage facilities are completed. Cost estimating and market studies are underway, along with assessments for construction, component lead-time and off-site infrastructure. Completion of the Feasibility Study will then await integration of the design and cost estimates for the acid plant underway by thyssenkrupp nucera.

In addition, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA . Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF Cypress Development Corp.
WILLIAM WILLOUGHBY , PhD., PE
President & Chief Executive Officer

www.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.

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SOURCE Cypress Development Corp.

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CYPRESS DEVELOPMENT CHANGES NAME TO CENTURY LITHIUM CORP AND NEW TICKER SYMBOL 'LCE' EFFECTIVE JANUARY 30, 2023

CYPRESS DEVELOPMENT CHANGES NAME TO CENTURY LITHIUM CORP AND NEW TICKER SYMBOL 'LCE' EFFECTIVE JANUARY 30, 2023

Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") is pleased to announce that further to its news release dated January 24, 2023 the TSX Venture Exchange (the "TSXV") has approved the Company's name change from Cypress Development Corp. to Century Lithium Corp. The Company will also change its trading symbol from 'CYP' to ' LCE ' on the TSXV. The effective date on which the Company will begin trading under the new name and symbol is January 30, 2023 . The CUSIP number is 156615106.

Cypress Development Corp. Logo (CNW Group/Cypress Development Corp.)

The transfer agent of the Company continues to be Computershare Investor Services Inc. There is no change in the capitalization of the Company in connection with the change of name and trading symbol and no action is required by existing shareholders with respect to this matter. Shareholders holding share certificates of the Company can request a replacement certificate, however new certificates are not required and will not be automatically issued.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA . Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF Cypress Development Corp.
WILLIAM WILLOUGHBY , PhD., PE
President & Chief Executive Officer

www.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.

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SOURCE Cypress Development Corp.

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TSXV: CYP | OTCQX: CYDVF

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TSXV: CYP | OTCQX: CYDVF

Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress or Company) is pleased to announce the selection of thyssenkrupp nucera USA Inc. (thyssenkrupp nucera) to provide the design and engineering for the chlor-alkali plant as part of the ongoing Feasibility Study on the Company's Clayton Valley Lithium Project in Nevada, USA (Project). The chlor-alkali plant is an essential component which will allow the Project to self-generate two key reagents required for processing lithium-bearing claystone through to a Li 2 CO 3 (lithium carbonate) product.

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TSXV: CYP | OTCQX: CYDVF

Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress or Company) is pleased to report it has achieved a significant milestone with the production of 99.94% lithium carbonate (Li 2 CO 3 ) made from lithium-bearing claystone from the Company's 100%-owned Clayton Valley Lithium Project in Nevada, USA (Project). The Li 2 CO 3 was derived from the intermediate concentrated lithium solution produced at Cypress' Lithium Extraction Facility in Amargosa Valley, Nevada (Pilot Plant). Following direct lithium extraction (DLE) at the Plant, Saltworks Technologies Inc. (Saltworks) completed the processing system design and pilot work to make the Li 2 CO 3.

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TSXV: CYP | OTCQX: CYDVF

Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") is pleased to report results from the recently completed drill program at its 100%-owned Clayton Valley Lithium Project ("Project"), in Nevada, USA . A sonic drill program was conducted in May 2022 to obtain sample material for lithium extraction testing at the Company's Lithium Extraction Facility ("Pilot Plant") in Amargosa Valley, Nevada and to supplement the Project's resource model for the Feasibility Study that is currently underway.

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VanadiumCorp Resource Inc.

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Albemarle Publishes 2024 Sustainability Report, Updates Efforts to Reduce Carbon Footprint, Manage Freshwater Responsibly and Support Customers' Sustainability Goals

Albemarle Publishes 2024 Sustainability Report, Updates Efforts to Reduce Carbon Footprint, Manage Freshwater Responsibly and Support Customers' Sustainability Goals

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today published its 2024 Sustainability Report . Entitled Values-Led, Purpose-Driven the report provides an update on Albemarle's achievements in line with the company's sustainability goals.

"As a values-led organization, sustainability is foundational to how we choose to operate," said Albemarle Chairman and CEO Kent Masters . "The initiatives outlined in this report speak to our commitment to creating a more resilient world. We remain dedicated to minimizing our environmental footprint, creating responsible and reliable products for our customers, and engaging with our communities to foster positive outcomes."

Report Highlights

Reducing our carbon footprint

  • Due to efficiency improvements and increased procurement of renewable and carbon-free electricity, we remain on track to grow our Energy Storage business in a scope 1 and 2 carbon intensity-neutral manner. In addition, our Specialties and Ketjen segments also remain on track to meet their 2030 scope 1 and 2 carbon emissions targets on an absolute basis.
  • 24% of our total electricity consumed was generated from renewable sources, an increase from 16% the previous year.
  • Initiated a decarbonization roadmap to assess enterprise hot spots and identify intervention approaches including electrification and renewable/carbon-free electricity, process changes and efficiency improvements, fuel substitutions and end-of-pipe solutions.

Practicing responsible freshwater management

  • Our operations in Chile and Jordan are on track to meet our 2030 freshwater intensity target.
  • In Chile , we achieved an additional 28% reduction in freshwater intensity by further optimizing the efficiency of our La Negra facility and completing the first year of continuous operation for our Salar Yield Improvement Project.
  • At our Jordan Bromine Company (JBC) joint venture, we achieved the mechanical completion of NEBO, a process upgrade that is expected to bring the facility's freshwater intensity in line with 2030 targets.

Supporting our customers' sustainability goals

  • We expanded the development of externally verified Product Carbon Footprints to include more bromine and lithium products from locations in the U.S., Jordan and China .

Promoting the resilience of our communities

  • A human rights assessment was conducted at our Salar de Atacama site in Chile to confirm our standards and tools align with global best practices to protect the rights of our employees, suppliers and communities.

To read Albemarle's 2024 Sustainability Report, visit the company's website at www.albemarle.com .
The report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).

About Albemarle  
Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

FORWARD-LOOKING STATEMENTS

The 2024 Sustainability Report and our sustainability webpage contain statements relating to Albemarle's operations, growth strategies and sustainability plans that are based on our current expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "design," "target," "project," "commit," "aim," "intend," "may," "outlook," "scenario," "should," "would," and "will." Forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Albemarle undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Standards of measurement and performance made in reference to our environmental, social, governance and other sustainability plans and goals may be based on protocols, processes and assumptions that continue to evolve and are subject to change in the future, including due to the impact of future regulations. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; fluctuations in lithium market prices; production volume shortfalls; increased competition; changes in product demand; availability and cost of raw materials and energy; technological change and development; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website at www.sec.gov .

Media Contact:  
Peter Smolowitz, +1 (980) 308-6310, media@albemarle.com

Investor Relations Contact:  
+1 (980) 299-5700, invest@albemarle.com

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

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SOURCE Albemarle Corporation

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