Cypress Development Selects Ausenco for Prefeasibility Study for Clayton Valley Lithium Project in Nevada

Cypress Development Corp. (TSXV:CYP, FRA:C1Z1,OCTQB:CYDVF) (“Cypress” or the “Company”) is pleased to announce that Ausenco Engineering Canada Inc. has been selected as the lead consultant for the  Prefeasibility Study (PFS) on the Company’s Clayton Valley Lithium Project in Nevada. Cypress is also pleased to announce that Global Resource Engineering (GRE) will continue to consult on project metallurgy, resource estimation and mine planning.

Ausenco Engineering has extensive experience in lithium projects. Selected projects include Bacanora Minerals’ Sonora Lithium Project (Mexico), Talison Minerals’ Minerals Conversion Plant (Western Australia), and European Metals Cinovec Tin–Tungsten–Lithium Project (Czech Republic).

Cypress CEO Dr. Bill Willoughby commented, “Ausenco’s extensive experience in plant design and construction of lithium projects will be a valuable asset as we move the Clayton Valley Lithium Project forward through our PFS. We are pleased to work with both Ausenco and GRE with the expectation of completing the PFS in the second quarter of this year.”

About Cypress Development Corp.:

Cypress Development Corp. is a publicly traded exploration company focused on developing the Company’s 100%-owned Clayton Valley Lithium Project in Nevada. Exploration and development by Cypress has discovered a world-class resource of lithium-bearing claystone adjacent to Albemarle’s Silver Peak mine, North America’s only lithium brine operation.

Cypress Development Corp. has approx. 72.5 million shares issued and outstanding.

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

CYPRESS DEVELOPMENT CORP.

“Dr. Bill Willoughby”

WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer

For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: 604-639-3851
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.

Source: globenewswire.ca