CYPRESS DEVELOPMENT COMPLETES TWO-WEEK LITHIUM MINING TEST AT ITS NEVADA PILOT PLANT

VANCOUVER, BC, February 10, 2022 /PRNewswire/ – Cypress Development Corp. (TSXV: CAP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress” or the Company”) is pleased to announce the successful completion of a 14-day operational test at the Company’s lithium extraction pilot plant in Nevada. During this period, the pilot plant operated continuously to process lithium-bearing clay from the Company’s Clayton Valley Lithium Project.

“The progress made so far is substantial and we are very pleased with the initial results,” said Bill Willoughby, President and CEO of Cypress Development. “We have now completed 3, 7 and 14 day tests, improving operation and gaining important insights as we develop our unique lithium extraction process.”

Performance in pilot plant areas:

Continuous test, working 24 hours a day

  • 97% utilization throughout the plant, including leaching, filtration and lithium extraction areas
  • Modification of filtration equipment resulting in lower moisture content in final tailings
  • Reagent consumptions in line with expected recoveries of 80 to 85%.

More than 700 samples were taken for analysis and sent to an external certified laboratory. Due to lab turnaround times, scans from past tests are only beginning to be received. The Company’s on-site laboratory continues to be used to generate internal analyzes and guide operations. In the final stage of the process, an equipment failure limited the amount of product solution to be shipped for offsite processing. This equipment is being processed. The pilot plant continues to operate to generate the required amount of product solution and to test an alternate configuration and operating conditions for leaching and filtration.

Qualified person

Todd FayramMMSA-QP, is the Qualified Person as defined by National Instrument 43-101 and has approved the technical information contained in this version.

About Cypress Development Corp.

Cypress Development Corp. is a Canadian advanced-stage lithium exploration company focused on the development of its 100% owned Clayton Valley lithium project. Nevada, United States. Work completed by Cypress led to the discovery of a world-class lithium-bearing clay resource adjacent to the Albemarle Silver Peak mine, North America lithium brine operation only. Cypress is advancing its Clayton Valley Lithium project by Nevada towards the production of high purity lithium hydroxide suitable for the use of level 1 batteries.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBYPhD., EP
President and CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THE CONTENTS OF THIS RELEASE.

Caution Regarding Forward-Looking Statements

This press release includes certain statements that may be considered “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as expects”, “estimates”, “plans”, “anticipates”, “believes”, “could”, “anticipates” and other similar words. All statements in this release, other than statements of historical fact, that address events or developments that management of the Company expects are forward-looking statements. Although management believes that the expectations expressed in these 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 contained in the forward-looking statements include market prices, exp loration and development, the continued availability of capital and financing, and general economic, trade or business cooperation terms. Please see the Company’s public documents at www.sedar.com for more information.

SOURCE Cypress Development Corp.

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