Cypress Development Provides Update on Clayton Valley Lithium Project’s Pilot Plant Status

Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to report that its pilot plant for the Clayton Valley Lithium Project is in its final stages of preparation prior to commissioning. The majority of components are assembled and operational. Ongoing work focusses on on-site assaying capability, and the completion of instrumentation, electrical and compressed air supply. Testing will commence following inspections and approvals.

“The personnel on-site are working diligently on the necessary tasks for the pilot program and will start testing on claystone from our project when completed,” stated Bill Willoughby , President and CEO of Cypress. “We are pleased to be at this stage considering a number of scheduling and supply factors we have surmounted. We are progressing with the pilot program in a safe and deliberate fashion to provide information to advance the project and support its feasibility study.”

The pilot plant operation will be administered by Continental Metallurgical Services LLC in conjunction with Cypress and technical staff provided by del Sol Refining Inc. Commissioning and operation of the plant will be conducted in conjunction with Chemionex Inc. who will oversee the Lionex DLE Lithium Extraction stage of the pilot program.

About Cypress Development Corp.

Cypress Development Corp. is a Canadian advanced-stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA . Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America’s only lithium brine operation. The results of a positive Pre-Feasibility Study for the Clayton Valley Lithium Project were announced by Cypress Development in August 2020 . Cypress Development trades on the TSX Venture Exchange under the symbol CYP, and on the OTCQB under the symbol CYDVF.

ON BEHALF OF Cypress Development Corp.

WILLIAM WILLOUGHBY , PhD., PE
President & CEO

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.

Cautionary Note Regarding Forward-Looking Statements

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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SOURCE Cypress Development Corp.