Cypress Development Studies Chloride Leaching for Clayton Valley Lithium Project in Nevada - Seite 2

In the analyses to date, hydrochloric acid digests significantly more of the clay. However, the processing steps to purify and concentrate the leach solution are potentially easier and lower cost. The scoping study will include a larger test to provide more solution to confirm these steps. The study deliverables will include mass balances and finalized flowsheets for sulfate and chloride leaching in a high saline system. Also, included will be scoping level estimates for power and other consumables, and potential changes in project capital and operating costs.

Pilot Plant Progress

Work toward the pilot plant program is the next stage in the project’s development. The Company has reviewed several locations for the testing and has narrowed its consideration to two. Discussions are ongoing. Permit applications are being prepared as required for the site and bulk sample locations.

The Company reports nine months of baseline environmental related studies were completed and are in the reporting stage on Cypress’ property. No major environmental issues were encountered by the Company’s consultants.

Newly received test results from NORAM confirmed a high level of recovery of sulfuric acid from the process leach solution. Results from this key step showed greater than 90% of the free sulfuric acid in the solution after leaching, was successfully recovered and available for recycling. The ability to recover and recycle sulfuric acid in the process is a critical step. The PFS has an allowance for minor losses of sulfuric acid. The results from NORAM are within the PFS allowance and provide the information needed for the acid recovery portion of the pilot plant.

The results of the scoping study may require the revaluation of the recommendation in the PFS to include the use of hydrochloric acid in place of, or in addition to sulfuric acid in the pilot plant. The Company anticipates the purchasing and assembling of the pilot plant will proceed upon completion of the scoping study and its outcome. The Company anticipates completing the pilot plant as planned.

Qualified Person:

Todd Fayram, MMSA-QP, is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

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 discovered a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier source that has the potential to impact the supply of lithium for the fast-growing global energy storage battery market.